Premises and Equipment

6 Months Ended

Jun. 30, 2011

5.	Premises and Equipment

On April 26, 2011, we sold an office building with a net carrying value of $14.6 million. The building is located in Lake Success, New York, and formerly housed our lending operations which were relocated in March 2008 to a leased facility in Mineola, New York. The proceeds from the sale of the building totaled $14.4 million. A loss of $253,000, included in other non-interest income in the consolidated statement of income, was recognized in the 2011 second quarter.

- 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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