PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2012

Premises and Equipment Summarized by Major Classifications

Premises and equipment are summarized by major classifications as follows (in thousands):

	2012		2011

Land	$	1,863	$	1,863
Buildings and improvements		9,328		9,310
Furniture, fixtures and equipment		2,903		2,810
Leasehold improvements		464		464
		14,558		14,447
Less: accumulated depreciation		4,879		4,406
	$	9,679	$	10,041

Future Minimum Payments

The Bank leases three of its branch facilities, two automated teller machine facilities, and one operations building under operating lease agreements which provide for the payment of utilities and taxes by the lessee. Future minimum payments (in thousands) for each of the five succeeding years under noncancelable leases consisted of the following at December 31, 2012:

Year ending December 31:
2013	$	141
2014		127
2015		76
2016		46
2017		43
Thereafter		209

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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