Premises And Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method for premises and equipment over the estimated useful lives of the assets. The estimated useful lives employed are on average 30 years for premises and 3 to 10 years for furniture and equipment. Repairs and maintenance expenditures are charged to operating expenses as incurred. Major improvements and additions to premises and equipment, including construction period interest costs, are capitalized. No interest was capitalized during 2014, 2013, or 2012.

The major categories of premises and equipment and accumulated depreciation at December 31, 2014 and 2013 are summarized as follows:



Dollars in thousands	2014		2013
Land	$	6,308	$	6,308
Buildings and improvements	20,202		20,165
Furniture and equipment	13,223		12,777
	39,733		39,250
Less accumulated depreciation	19,673		18,627
Total premises and equipment, net	$	20,060	$	20,623

Depreciation expense for the years ended December 31, 2014, 2013 and 2012 approximated $1.07 million, $1.16 million, and $1.29 million, respectively.

- 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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