Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT

v2.4.0.8
PREMISES AND EQUIPMENT
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
PREMISES AND EQUIPMENT
NOTE 5.      PREMISES AND EQUIPMENT
 
Premises and equipment are summarized as follows (in thousands):
 
 
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Land and building
 
$
1,724
 
$
1,724
 
Furniture and equipment
 
 
9,579
 
 
8,642
 
Leasehold improvements
 
 
5,131
 
 
4,742
 
 
 
 
16,434
 
 
15,108
 
Accumulated depreciation
 
 
(8,083)
 
 
(6,261)
 
 
 
$
8,351
 
$
8,847
 
 
The provisions for depreciation charged to occupancy and equipment expense for the years ended December 31, 2013, 2012 and 2011 were $1,841,000, $1,218,000 and  $1,173,000, respectively.  
 
The Company leases land and building space under non-cancellable operating leases.  Future minimum lease payments under non-cancellable operating leases at December 31, 2013 are summarized as follows:
 
 
 
 
(In Thousands)
 
2014
 
$
2,453
 
2015
 
 
2,462
 
2016
 
 
2,429
 
2017
 
 
2,164
 
2018
 
 
1,934
 
Thereafter
 
 
4,622
 
 
 
$
16,064
 
 
For the years ended December 31, 2013, 2012 and 2011, annual rental expense on operating leases was $2,488,000, $2,195,000 and $2,060,000, respectively.