Note 7 - Premises and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 – PREMISES AND EQUIPMENT

Year end premises and equipment were as follows:
(In Thousands of Dollars)	2011			2010
Land	$	6,186		$	6,213
Buildings		33,082			32,546
Furniture, fixtures and equipment		17,951			17,922
Total		57,219			56,681
Less:
Accumulated depreciation		(32,132	)		(31,250	)
Total	$	25,087		$	25,431

Depreciation expense was $2,062,000, $2,261,000, and $2,675,000 for 2011, 2010, and 2009. Facility rent expense was $377,000 in 2011 compared with $403,000 for 2010, and $356,000 for 2009. Equipment rent expense was $250,000 in 2011 compared with $252,000 for 2010, and $279,000 for 2009. Rental commitments for the next five years under non-cancelable operating leases were as follows (before considering renewal options that generally are present):

(In Thousands of Dollars)
	Facilities		Equipment		Total
2012	$	362	$	97	$	459
2013		371		7		378
2014		161		3		164
2015		110		2		112
2016		102		0		102
Total	$	1,106	$	109	$	1,215

- 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.

+ References+ Details