Premises and Equipment

12 Months Ended

Dec. 31, 2014

7. Premises and Equipment

Premises and equipment consisted of the following at December 31:

	2014		2013
	(in thousands)

Land	$	200	$	200
Premises	3,340		3,350
Leasehold improvements	5,491		5,231
Furniture, fixtures and equipment	9,372		8,137
Automobiles	188		187
Subtotal	18,591		17,105
Less: accumulated depreciation	9,426		7,241
Total	9,165		9,864

Depreciation expense for premises and equipment was $2.2 million for 2014, $1.9 million for 2013 and $1.4 million for 2012.

- 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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