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Premises And Equipment

6 Months Ended

Jun. 30, 2011

Note 7 – Premises and Equipment

Premises and equipment are summarized as follows:


	June 30, 2011			December 31, 2010
Land	$	2,614,324		$	2,614,324
Building and improvements		9,095,014			9,095,014
Leasehold improvements		21,456,441			21,436,630
Furniture and equipment		17,399,492			17,560,679
Construction in progress		—			3,156

		50,565,271			50,709,803
Less accumulated depreciation		(17,362,671	)		(16,382,027	)

	$	33,202,600		$	34,327,776

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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