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Leases

12 Months Ended

Dec. 31, 2011

11.

LEASES

The Company has noncancellable operating leases for three branch locations. These leases generally contain renewal options for periods ranging from three to twenty years and require the Company to pay all executory costs such as maintenance and insurance. Rental expense for operating leases during 2011, 2010 and 2009 was $539 thousand, $579 thousand and $485 thousand, respectively.

Future minimum lease payments under noncancellable operating leases as of December 31, 2011 are as follows (dollars in thousands):


Year ending December 31,
2012	$	531
2013		533
2014		331
2015		225
2016		177
Thereafter		119

Total minimum lease payments	$	1,916

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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