Premises and Equipment

12 Months Ended

Dec. 31, 2013

7. Premises and Equipment

The detail of premises and equipment as of December 31st for the past two years is as follows:


(In thousands)	December 31, 2013		December 31, 2012
Land and buildings	$	17,022	$	12,347
Furniture, fixtures and equipment		6,603		6,719
Leasehold improvements		1,656		2,319
Gross premises and equipment		25,281		21,385
Less: Accumulated depreciation		(9,609)		(9,323)
Net premises and equipment	$	15,672	$	12,062

The December 31, 2013 figures reflect the Bank’s purchase of three of its leased branch locations for $4.3 million in April 2013. Amounts charged to noninterest expense for depreciation of premises and equipment amounted to $1.2 million and $1.1 million in 2013 and 2012, respectively.

- 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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