PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

NOTE 6 – PREMISES AND EQUIPMENT

Year-end premises and equipment were as follows:

	2012			2011
Land and improvements	$	3,614		$	3,614
Buildings and leasehold improvements		13,454			13,404
Furniture and equipment		8,974			8,433
		26,042			25,451
Less: accumulated depreciation		(10,090	)		(9,096	)
	$	15,952		$	16,355

Operating Leases: The Company leases certain branch and other properties as well as some equipment under operating leases. Some leases provide for periodic rate adjustments based on cost-of-living index changes. Rent expense, net of rental income, was $985, $1,162 and $1,131 for 2012, 2011, and 2010. Rent commitments, before considering renewal options that generally are present, were as follows:

2013	$	952
2014		712
2015		686
2016		659
2017 and thereafter		740
	$	3,749

- 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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