Annual report pursuant to Section 13 and 15(d)

Premises and Equipment, Net

v3.8.0.1
Premises and Equipment, Net
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 4 – Premises and Equipment, Net
 
At year end, premises and equipment are summarized as follows:
 
 
 
(Dollars in thousands)
 
 
 
2017
 
 
2016
 
Cost:
 
 
 
 
 
 
 
 
Land
 
$
5,216
 
 
$
5,216
 
Buildings and improvements
 
 
23,672
 
 
 
22,854
 
Furniture and equipment
 
 
14,908
 
 
 
14,267
 
Total cost
 
 
43,796
 
 
 
42,337
 
Less accumulated depreciation
 
 
(24,237
)
 
 
(23,050
)
Premises and equipment, net
 
$
19,559
 
 
$
19,287
 
 
Depreciation expense was approximately $1.38 million and $1.35 million for 2017 and 2016, respectively.