Property and Equipment, Net

12 Months Ended

Dec. 31, 2011

Property and Equipment, Net [Abstract]

NOTE 4. PROPERTY AND EQUIPMENT, NET

Property and equipment as of December 31, 2011 and 2010 are stated at cost less accumulated depreciation as follows (in thousands):

		September 30,			September 30,
	2011			2010

Land and buildings	$	22,194			19,389
Furniture and equipment		5,574			5,179

		27,768			24,568
Accumulated depreciation		(10,107	)		(8,840	)

Net property and equipment	$	17,661			15,728

Depreciation expense for the years ended December 31, 2011, 2010 and 2009 amounted to $1,266,468, $1,395,506 and $1,446,905, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Merchants & Marine Bancorp, Inc. 10-K