Note 6 — Premises and Equipment

Premises and equipment are summarized as follows:


	Estimated Useful Life (Years)		2011		2010
	(Dollars in Thousands)
Land			$	2,403	$	2,403
Buildings		5 – 40		12,711		12,656
Furniture, fixtures and equipment		2 – 20		16,191		15,929
Leasehold improvements		5 – 30		1,839		1,839
Subtotal				33,144		32,827
Less: accumulated depreciation and amortization				20,817		19,890
Total premises and equipment, net			$	12,327	$	12,937

Depreciation and amortization expense of premises and equipment for the three years ended December 31, amounted to $926,000 in 2011, $1,096,000 in 2010 and $1,369,000 in 2009, respectively.

- 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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