FCBC » Topics » Premises and Equipment

These excerpts taken from the FCBC 10-K filed Mar 13, 2009.
Premises and Equipment
 
Premises and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are computed on the straight-line method over estimated useful lives. Useful lives range from 5 to 10 years for furniture, fixtures, and equipment; three to five years for software, hardware, and data handling equipment; and 10 to 40 years for buildings and building improvements. Land improvements are amortized over a period of 20 years, and leasehold improvements are amortized over the lesser of the useful life or the term of the lease plus the first optional renewal period, when renewal is reasonably assured. Maintenance and repairs are charged to current operations while improvements that extend the economic useful life of the underlying asset are capitalized. Disposition gains and losses are reflected in current operations.
 
The Company leases various properties within its branch network. Leases generally have initial terms of up to 20 years and most contain options to renew with reasonable increases in rent. All leases are accounted for as operating leases.
 
Premises and Equipment
 
Premises and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are computed on the straight-line method over estimated useful lives. Useful lives range from 5 to 10 years for furniture, fixtures, and equipment; three to five years for software, hardware, and data handling equipment; and 10 to 40 years for buildings and building improvements. Land improvements are amortized over a period of 20 years, and leasehold improvements are amortized over the lesser of the useful life or the term of the lease plus the first optional renewal period, when renewal is reasonably assured. Maintenance and repairs are charged to current operations while improvements that extend the economic useful life of the underlying asset are capitalized. Disposition gains and losses are reflected in current operations.
 
The Company leases various properties within its branch network. Leases generally have initial terms of up to 20 years and most contain options to renew with reasonable increases in rent. All leases are accounted for as operating leases.
 
Premises
and Equipment



 



Premises and equipment are stated at cost less accumulated
depreciation. Depreciation and amortization are computed on the
straight-line method over estimated useful lives. Useful lives
range from 5 to 10 years for furniture, fixtures, and
equipment; three to five years for software, hardware, and data
handling equipment; and 10 to 40 years for buildings and
building improvements. Land improvements are amortized over a
period of 20 years, and leasehold improvements are
amortized over the lesser of the useful life or the term of the
lease plus the first optional renewal period, when renewal is
reasonably assured. Maintenance and repairs are charged to
current operations while improvements that extend the economic
useful life of the underlying asset are capitalized. Disposition
gains and losses are reflected in current operations.


 



The Company leases various properties within its branch network.
Leases generally have initial terms of up to 20 years and
most contain options to renew with reasonable increases in rent.
All leases are accounted for as operating leases.


 




Premises
and Equipment



 



Premises and equipment are stated at cost less accumulated
depreciation. Depreciation and amortization are computed on the
straight-line method over estimated useful lives. Useful lives
range from 5 to 10 years for furniture, fixtures, and
equipment; three to five years for software, hardware, and data
handling equipment; and 10 to 40 years for buildings and
building improvements. Land improvements are amortized over a
period of 20 years, and leasehold improvements are
amortized over the lesser of the useful life or the term of the
lease plus the first optional renewal period, when renewal is
reasonably assured. Maintenance and repairs are charged to
current operations while improvements that extend the economic
useful life of the underlying asset are capitalized. Disposition
gains and losses are reflected in current operations.


 



The Company leases various properties within its branch network.
Leases generally have initial terms of up to 20 years and
most contain options to renew with reasonable increases in rent.
All leases are accounted for as operating leases.


 




These excerpts taken from the FCBC 10-K filed Mar 13, 2008.
Premises and Equipment
 
Premises and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are computed on the straight-line method over estimated useful lives. Useful lives range from 5 to 10 years for furniture, fixtures, and equipment; three to five years for software, hardware, and data handling equipment; and 10 to 40 years for buildings and building improvements. Land improvements are amortized over a period of 20 years, and leasehold improvements are amortized over the lesser of the useful life or the term of the lease plus the first optional renewal period, when renewal is reasonably assured. Maintenance and repairs are charged to current operations while improvements that extend the economic useful life of the underlying asset are capitalized. Disposition gains and losses are reflected in current operations.


46


 

 
FIRST COMMUNITY BANCSHARES, INC.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
The Company leases various properties within its branch network. Leases generally have initial terms of up to 20 years and most contain options to renew with reasonable increases in rent. All leases are accounted for as operating leases.
 
Premises
and Equipment



 



Premises and equipment are stated at cost less accumulated
depreciation. Depreciation and amortization are computed on the
straight-line method over estimated useful lives. Useful lives
range from 5 to 10 years for furniture, fixtures, and
equipment; three to five years for software, hardware, and data
handling equipment; and 10 to 40 years for buildings and
building improvements. Land improvements are amortized over a
period of 20 years, and leasehold improvements are
amortized over the lesser of the useful life or the term of the
lease plus the first optional renewal period, when renewal is
reasonably assured. Maintenance and repairs are charged to
current operations while improvements that extend the economic
useful life of the underlying asset are capitalized. Disposition
gains and losses are reflected in current operations.





46





 





 




FIRST
COMMUNITY BANCSHARES, INC.



 




NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)


 



The Company leases various properties within its branch network.
Leases generally have initial terms of up to 20 years and
most contain options to renew with reasonable increases in rent.
All leases are accounted for as operating leases.


 




This excerpt taken from the FCBC 10-K filed Mar 12, 2007.
Premises and Equipment
 
Premises and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are computed on the straight-line method over estimated useful lives. Useful lives range from 5 to 10 years for furniture, fixtures, and equipment; three to five years for software, hardware, and data handling equipment; and 10 to 40 years for buildings and building improvements. Land improvements are amortized over a period of 20 years, and leasehold improvements are amortized over the lesser of the useful life or the term of the lease plus the first optional renewal period, when renewal is reasonably assured. Maintenance and repairs are charged to current operations while improvements that extend the economic useful life of the underlying asset are capitalized. Disposition gains and losses are reflected in current operations.


46


Table of Contents

 
FIRST COMMUNITY BANCSHARES, INC.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

 
The Company leases various properties within its branch network. Leases generally have initial terms of up to 20 years and most contain options to renew with reasonable increases in rent. All leases are accounted for as operating leases.
 
This excerpt taken from the FCBC 10-K filed Mar 15, 2006.
Premises and Equipment
 
Premises and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are computed on the straight-line method over estimated useful lives. Useful lives range from 5 to 10 years for furniture, fixtures, and equipment; three to five years for software, hardware, and data handling equipment; and 10 to 40 years for buildings and building improvements. Land improvements are amortized over a period of 20 years, and leasehold improvements are amortized over the term of the lease plus the first optional renewal period, when renewal is reasonably assured. Maintenance and repairs are charged to current operations while improvements that extend the economic useful life of the underlying asset are capitalized. Disposition gains and losses are reflected in current operations.
 
The Company leases various properties within its branch network. Leases generally have initial terms of up to 20 years and most contain options to renew with reasonable increases in rent. All leases are accounted for as operating leases.
 
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