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These excerpts taken from the SBKC 10-K filed Mar 16, 2009. Premises and Equipment
Premises and equipment are recorded at acquisition cost less accumulated depreciation.
Depreciation is charged to operations over the estimated useful lives of the assets. Banking Premises and Furniture and Equipment are depreciated over periods of 39 years and between five and 25 years, respectively under the straight-line method of depreciation.
Maintenance and repairs are expensed as incurred and improvements are capitalized. When property and equipment are retired or sold, the cost and accumulated depreciation are removed from the respective accounts and any gain or loss is reflected in Other Noninterest Income.
F-13
Index to Financial StatementsSECURITY BANK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(8) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $2.3 million in 2008, $2.5 million in 2007 and $2.3 million in 2006.
Certain bank facilities are leased under various operating leases. Rental expense was $1.2 million in 2008, $0.9 million in 2007 and $0.7 million in 2006. Future minimum rental commitments under noncancelable leases are:
Premises
Premises and equipment are recorded at
Depreciation
Maintenance and repairs are expensed as incurred and F-13 Index to Financial StatementsSECURITY BANK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(8) Premises and Equipment Premises and equipment are comprised of the following as of December 31:
Depreciation charged
These excerpts taken from the SBKC 10-K filed Mar 5, 2008. (7) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $2,449,879 in 2007, $2,268,306 in 2006 and $1,594,123 in 2005.
Certain bank facilities are leased under various operating leases. Rental expense was $901,067 in 2007, $726,510 in 2006 and $479,336 in 2005. Future minimum rental commitments under noncancelable leases are:
Premises and Equipment Premises and equipment are recorded at acquisition cost less accumulated
Depreciation is charged to operations over the Maintenance and repairs are expensed as incurred and improvements are This excerpt taken from the SBKC 10-K filed Mar 15, 2007. (8) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $2,268,306 in 2006, $1,594,123 in 2005 and $1,421,692 in 2004.
Certain bank facilities are leased under various operating leases. Rental expense was $726,510 in 2006, $479,336 in 2005 and $421,900 in 2004.
Future minimum rental commitments under noncancelable leases are:
This excerpt taken from the SBKC 10-K filed Mar 16, 2006. (7) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $1,594,123 in 2005, $1,421,692 in 2004 and $1,330,332 in 2003.
Certain bank facilities are leased under various operating leases. Rental expense was $479,336 in 2005, $421,900 in 2004 and $340,000 in 2003.
Future minimum rental commitments under noncancelable leases are:
This excerpt taken from the SBKC 10-K filed Oct 19, 2005. (7) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $1,421,692 in 2004, $1,330,332 in 2003 and $1,083,915 in 2002.
Certain bank facilities are leased under various operating leases. Rental expense was $421,900 in 2004, $340,000 in 2003 and $398,900 in 2002.
Future minimum rental commitments under noncancelable leases are:
This excerpt taken from the SBKC 10-K filed Mar 16, 2005. (7) Premises and Equipment
Premises and equipment are comprised of the following as of December 31:
Depreciation charged to operations totaled $1,421,692 in 2004, $1,330,332 in 2003 and $1,083,915 in 2002.
Certain bank facilities are leased under various operating leases. Rental expense was $421,900 in 2004, $340,000 in 2003 and $398,900 in 2002.
Future minimum rental commitments under noncancelable leases are:
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