Note 7 - Bank Premises and Equipment, Net

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7.

Bank Premises and Equipment, Net

Bank premises and equipment are as follows at

December

31:

	2016		2015
	(In thousands)
Land	$	-	$	745
Building and leasehold improvements		29,795		29,610
Equipment and furniture		21,924		19,770
Total		51,719		50,125
Less: Accumulated depreciation and amortization		25,158		24,503
Bank premises and equipment, net	$	26,561	$	25,622

During the year ended

December

31,

2016,

we sold

three

branch buildings, realizing a pre-tax gain of

$48.0

million. Simultaneous with the sale, leasebacks were entered into for terms of

one

year or less. During the year ended

December

31,

2015,

we sold

three

branch buildings in sale-leaseback transactions, realizing a pre-tax gain of

$12.7

million, of which

$6.5

million was recognized in earnings during the year ended

December

31,

2015

and

$6.2

million was deferred and is being amortized over the

10

-year term of the branch leases. We have no continuing involvement in any of the sold branch buildings other than as an ordinary lessee.