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Premises and Equipment, Net
9 Months Ended
Sep. 30, 2011
Premises and Equipment, Net [Abstract] 
PREMISES AND EQUIPMENT, NET
4. PREMISES AND EQUIPMENT, NET

Premises and equipment are comprised of the following:

 

                 
    September 30,
2011
    December 31,
2010
 

Land and improvements

  $ 8,531,000     $ 8,531,000  

Buildings

    24,528,000       24,528,000  

Furniture and equipment

    12,644,000       12,478,000  
   

 

 

   

 

 

 
      45,703,000       45,537,000  

Less: accumulated depreciation

    18,838,000       17,664,000  
   

 

 

   

 

 

 

Premises and equipment, net

  $ 26,865,000     $ 27,873,000  
   

 

 

   

 

 

 

Depreciation expense totaled $0.4 million during the third quarter of 2011 and 2010. Depreciation expense totaled $1.2 million during the first nine months of 2011, compared to $1.5 million during the first nine months of 2010.