PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2014

Property Plant And Equipment [Abstract]

NOTE 5. PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following at June 30, 2014 and December 31, 2013:


	*June 30, 2014*		*December 31, 2013*
	(In thousands)
Land	$	2,582	$	2,582
Building		8,336		7,090
Computer hardware and software		953		364
Office furniture and equipment		268		176
Tenant and leasehold improvements		1,835		873
Vehicle fleet		216		—

Total, at cost		14,190		11,085
Less: accumulated depreciation and amortization		422		150

Property and equipment, net	$	13,768	$	10,935

Depreciation and amortization expense for property and equipment was $104,000 and $272,000 for the three and six-month periods ended June 30, 2014, respectively. The Company’s real estate consists of 13 acres of land and two buildings with a gross area of 148,000 square feet. The Company relocated to these facilities during March 2014. These facilities and the related existing tenant lease agreements were acquired in April 2013 for a total purchase price of $9.8 million paid in cash.

The Company currently leases space to non-affiliates and its subsidiary Heritage P&C, and occupies space in one of the buildings.

- 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.

+ References+ Details