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PREMISES AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment [Table Text Block] Premises and equipment are summarized as follows:

 

 

 

 

 

 

 

 

 

Estimated
Useful Life
(Years)

 

2014

 

2013

 

 

(Dollars in Thousands)

Land

 

 

 

 

 

 

$

 

2,403

 

 

 

$

 

2,403

 

Buildings

 

 

 

5 – 40

 

 

 

 

16,490

 

 

 

 

13,675

 

Furniture, fixtures and equipment

 

 

 

2 – 20

 

 

 

 

24,809

 

 

 

 

17,604

 

Leasehold improvements

 

 

 

5 – 30

 

 

 

 

10,757

 

 

 

 

3,184

 

 

 

 

 

 

 

 

Subtotal

 

 

 

 

 

54,459

 

 

 

 

36,866

 

Less: accumulated depreciation and amortization

 

 

 

 

 

32,977

 

 

 

 

23,185

 

 

 

 

 

 

 

 

Subtotal

 

 

 

 

 

21,482

 

 

 

 

13,681

 

Less: fair value adjustment for leases

 

 

 

 

 

(829

)

 

 

 

 

 

 

 

 

 

 

 

 

Total premises and equipment, net

 

 

 

 

$

 

20,653

 

 

 

$

 

13,681

 

 

 

 

 

 

 

 

Schedule of Capital Lease in Premises and Equipment [Table Text Block] The Company has included this lease in premises and equipment as follows (dollars in thousands):

 

 

 

 

 

 

 

2014

 

2013

Capital Lease

 

 

$

 

3,422

 

 

 

$

 

 

Less: accumulated amortization

 

 

 

1,026

 

 

 

 

 

 

 

 

 

 

 

 

$

 

2,396

 

 

 

$

 

 

 

 

 

 

 

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments at December 31, 2014 (dollars in thousands):

 

 

 

2015

 

 

$

 

291

 

2016

 

 

 

292

 

2017

 

 

 

292

 

2018

 

 

 

294

 

2019

 

 

 

321

 

Thereafter

 

 

 

3,018

 

 

 

 

Total minimum lease payments

 

 

 

4,508

 

Less amount representing interest

 

 

 

1,509

 

 

 

 

Present value of net minimum lease payments

 

 

$

 

2,999

 

 

 

 

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] These leases, most of which have renewal provisions, are principally operating leases.

 

 

 

2015

 

 

$

 

2,062

 

2016

 

 

 

1,902

 

2017

 

 

 

1,548

 

2018

 

 

 

1,493

 

2019

 

 

 

1,326

 

Thereafter

 

 

 

7,509