PREMISES & EQUIPMENT

12 Months Ended

Dec. 31, 2012

5. PREMISES & EQUIPMENT

Premises and equipment at December 31, 2012 and 2011 are summarized as follows (in thousands):

	2012		2011
Land	$	3,278	$	3,278
Buildings		12,448		12,313
Furniture, fixtures and equipment		6,374		6,517
Construction in process		64		6
		22,164		22,114
Less: accumulated depreciation		10,643		10,412
Premises and equipment, net	$	11,521	$	11,702

Depreciation expense amounted to $606,000, $649,000 and $669,000 for 2012, 2011 and 2010, 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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