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Premises and Equipment

12 Months Ended

Dec. 31, 2014

NOTE 7: PREMISES AND EQUIPMENT

Premises and equipment at December 31, 2014 and 2013 is presented below

			December 31
(Dollars in thousands)		2014		2013
Land		$	5,916		5,288
Buildings and improvements			8,606		8,539
Furniture, fixtures, and equipment			3,214		3,164
	Total premises and equipment		17,736		16,991
Less: accumulated depreciation			(6,929)		(6,549)
	Premises and equipment, net	$	10,807		10,442

Depreciation expense was approximately $380 thousand, $418 thousand, and $366 thousand for the years ended December 31, 2014, 2013 and 2012, respectively, and is a component of net occupancy and equipment expense in the consolidated statements of earnings.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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