Premises, Furniture, and Equipment

12 Months Ended

Dec. 31, 2011

NOTE 4 – Premises, Furniture, and Equipment

Premises, furniture, and equipment was comprised of the following classifications at December 31:

	2011			2010

Land	$	7,878		$	5,709
Buildings and Improvements		41,850			32,643
Furniture and Equipment		19,944			16,859
Total Premises, Furniture and Equipment		69,672			55,211
Less: Accumulated Depreciation		(31,966	)		(29,237	)
Total	$	37,706		$	25,974

Depreciation expense was $3,261, $2,872, and $2,772 for 2011, 2010, and 2009, respectively.

The Company leases two of its branch buildings under a capital lease. The lease arrangement requires monthly payments through 2027. The Company has included this lease in buildings and improvements as follows:

	2011			2010

Capital Lease	$	2,442		$	743
Less: Accumulated Depreciation		(223	)		(144	)
Total	$	2,219		$	599

The following is a schedule of future minimum lease payments under the capitalized leases, together with the present value of net minimum lease payments at year end 2011:

2012	$	348
2013		348
2014		348
2015		348
2016		348
Thereafter		4,726
Total minimum lease payments		6,466
Less: Amount representing interest		(4,108	)
Present Value of Net Minimum Lease Payments	$	2,358

- 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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