PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

5. PREMISES AND EQUIPMENT

At December 31, 2014 and 2013, premises and equipment consisted of the following (in thousands):

	Estimated Useful Lives	2014			2013
Land	Indefinite	$	3,021		$	3,201
Premises	30 - 40 years		33,219			27,570
Furniture, fixtures & equipment	3 - 7 years		16,349			28,669
Leasehold improvements	2 - 25 years		3,627			3,825
			56,216			63,265
Accumulated depreciation and amortization			(32,575	)		(38,004	)
Balance at end of year		$	23,641		$	25,261

Premises and accumulated depreciation and amortization include amounts related to property under capital leases of approximately $4 million at December 31, 2014 and 2013.

Depreciation and amortization charged to operations amounted to $2.4 million, $3.3 million and $2.6 million during 2014, 2013 and 2012, respectively. The 2013 total includes $507 thousand in accelerated depreciation related to two branches closed in 2013 and four branches closed in the first quarter of 2014. Depreciation and amortization charged to operations includes amounts related to property under capital leases of $243 thousand, $244 thousand and $244 thousand in 2014, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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