Premises and Equipment

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 7 - Premises and Equipment

Premises and equipment were comprised of:

	September 30,			December 31,
	2017			2016
	(In thousands)
Land & land improvements	$	10,021		$	9,522
Buildings		43,860			42,345
Furniture and equipment		34,530			31,428
		88,411			83,295
Less: Accumulated depreciation		(39,892	)		(37,412	)
		48,519			45,883
Construction in progress		6,476			2,523
Total premises and equipment	$	54,995		$	48,406

Depreciation expense for premises and equipment amounted to $1,520,000 and $1,316,000 for the three months ended September 30, 2017 and 2016, respectively. Depreciation expense for premises and equipment amounted to $4,224,000 and $4,002,000 for the nine months ended September 30, 2017 and 2016, 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.