PREMISES & EQUIPMENT

12 Months Ended

Dec. 31, 2011

5. PREMISES & EQUIPMENT

Premises and equipment are summarized as follows (in thousands):

	December 31,
	2011	2010
Land	$ 3,278	$ 3,488
Buildings	12,313	12,361
Furniture, fixtures and equipment	6,517	7,348
Construction in process	6	9
	22,114	23,206
Less: accumulated depreciation	10,412	10,703
Premises and equipment, net	$ 11,702	$ 12,503

Depreciation expense amounted to $649,000, $669,000 and $637,000 for 2011, 2010 and 2009, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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