Premises and Equipment

12 Months Ended

Dec. 31, 2012

Note 10 Premises and Equipment

Premises and equipment consisted of the following at December 31, 2012 and December 31, 2011 (in thousands):


	December 31, 2012			December 31, 2011
Land	$	29,699		$	25,186
Buildings and improvements		70,480			48,933
Equipment		30,976			15,960

Total		131,155			90,079

Less: accumulated depreciation and amortization		(9,719	)		(2,764	)

Premises and equipment, net	$	121,436		$	87,315

Premises and equipment increased $34.1 million from December 31, 2011 to December 31, 2012, primarily because the Company purchased 26 banking centers from the FDIC in connection with the Community Banks of Colorado acquisition. The Company incurred $7.1 million, $2.8 million and $0.1 million of depreciation expense during the years ended December 31, 2012, 2011 and 2010, respectively, which is included in occupancy and equipment expense.

Space in certain facilities is leased under operating leases. Below is a summary of future minimum lease payments for the years following 2012 (in thousands):


2013	$	3,227
2014		3,167
2015		2,917
2016		2,660
2017		2,032
Thereafter		21,362

Total	$	35,365

- 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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