HAFC » Topics » NOTE 7 - PREMISES AND EQUIPMENT

These excerpts taken from the HAFC 10-K filed Feb 29, 2008.
Premises and Equipment
 
Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed on the straight-line method over the estimated useful lives of the various classes of assets. The ranges of useful lives for the principal classes of assets are as follows:
 
     
Buildings and Improvements
  10 to 30 years
Furniture and Equipment
  Two to Seven Years
Leasehold Improvements
  Term of Lease or Useful Life, Whichever is Shorter
Software
  Three Years
 
Premises
and Equipment



 





Premises and equipment are stated at cost, less accumulated
depreciation and amortization. Depreciation is computed on the
straight-line method over the estimated useful lives of the
various classes of assets. The ranges of useful lives for the
principal classes of assets are as follows:


 






























     


Buildings and Improvements


 

10 to 30 years


Furniture and Equipment


 

Two to Seven Years


Leasehold Improvements


 

Term of Lease or Useful Life, Whichever is Shorter


Software


 

Three Years






 






This excerpt taken from the HAFC 10-K filed Mar 1, 2007.
NOTE 7 — PREMISES AND EQUIPMENT
 
The following is a summary of the major components of premises and equipment:
 
                 
    December 31,  
    2006     2005  
    (In thousands)  
 
Land
  $ 6,120     $ 6,120  
Buildings and Improvements
    8,210       7,804  
Furniture and Equipment
    12,202       12,095  
Leasehold Improvements
    8,403       7,924  
Software
    862       387  
                 
      35,797       34,330  
Accumulated Depreciation and Amortization
    (15,722 )     (13,546 )
                 
Total Premises and Equipment, Net
  $ 20,075     $ 20,784  
                 
 
Depreciation and amortization expense totaled $2,924,000, $2,704,000 and $2,447,000 for the years ended December 31, 2006, 2005 and 2004, respectively.


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HANMI FINANCIAL CORPORATION AND SUBSIDIARY
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2006, 2005 AND 2004 — (Continued)
 

 
This excerpt taken from the HAFC 10-K filed Mar 16, 2006.
NOTE 6 — PREMISES AND EQUIPMENT
 
The following is a summary of the major components of premises and equipment:
 
                 
    December 31,  
    2005     2004  
    (In thousands)  
 
Land
  $ 6,120     $ 6,120  
Buildings and Improvements
    7,804       7,354  
Furniture and Equipment
    12,095       11,116  
Leasehold Improvements
    7,924       7,845  
Software
    387        
                 
      34,330       32,435  
Accumulated Depreciation and Amortization
    (13,546 )     (12,744 )
                 
Total Premises and Equipment, Net
  $ 20,784     $ 19,691  
                 
 
Depreciation and amortization expense totaled $2,704,000, $2,447,000 and $1,558,000 for the years ended December 31, 2005, 2004 and 2003, respectively.


74


Table of Contents

 
HANMI FINANCIAL CORPORATION AND SUBSIDIARY
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

 
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