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Premises And Equipment

12 Months Ended

Dec. 31, 2011

Property Plant And Equipment [Abstract]

Property Plant And Equipment Disclosure [Text Block]

NOTE 7 - PREMISES AND EQUIPMENT

Depreciation expense was approximately $1,124,000 in 2011, $1,251,000 in 2010 and $1,387,000 in 2009. Premises and equipment as of December 31 consisted of the following:

In thousands of dollars	2011			2010
Land	$	1,863		$	1,863
Buildings and improvements, including building in progress		15,131			14,726
Furniture and equipment		14,680			14,470
Total cost		31,674			31,059
Less accumulated depreciation		(20,879	)		(19,818	)
Premises and equipment, net	$	10,795		$	11,241

The Company has a small number of non-cancellable operating leases, primarily for banking facilities that expire over the next fifteen years. The leases generally contain renewal options for periods ranging from one to five years. Rental expense for these leases was $1.2 million for the year ended December 31, 2011 and $1.1 million for the years ended December 31, 2010 and 2009, respectively.

Future minimum lease payments under operating leases are shown in the table below:

In thousands of dollars
2012	$	1,243
2013		1,249
2014		1,170
2015		1,016
2016		940
Thereafter		2,455
Total Minimum Lease Payments	$	8,073

- 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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