Premises and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 7 - Premises and Equipment

Premises and equipment were comprised of:

	September 30, 2016			December 31, 2015
	(In thousands)
Land & land improvements	$	10,514		$	8,909
Buildings		44,405			38,643
Furniture and equipment		32,247			31,081
		87,166			78,633
Less: Accumulated depreciation		(38,068	)		(35,518	)
		49,098			43,115
Construction in progress		350			696
Total premises and equipment	$	49,448		$	43,811

Depreciation expense for premises and equipment amounted to $1,316,000 and $1,268,000 for the three months ended September 30, 2016 and 2015, respectively. Depreciation expense for premises and equipment amounted to $4,002,000 and $3,849,000 for the nine months ended September 30, 2016 and 2015, respectively. During the three months ended September 31, 2016, the Company determined to sell a former bank branch property with net book value of $1,934,000, wrote the property down by $716,000 to its estimated market value of $1,218,000, and classified the property as held for sale. The property was subsequently sold during the three months ended September 30, 2016 without gain or further loss.