Premises and Equipment

12 Months Ended

Sep. 30, 2013

Note 6.

Premises and Equipment

Premises and equipment at September 30, 2013 and 2012, were as follows:


	2013			2012			Depreciable Lives
Cost
Land	$	1,142,089		$	1,142,089			-
Buildings and land improvements		2,031,589			2,031,589			10-50 yrs
Furniture, fixtures, and equipment		518,026			467,949			3-7 yrs

Total		3,691,704			3,641,627

Less: accumulated depreciation		(536,642	)		(404,632	)


	$	3,155,062		$	3,236,995

Depreciation expense totaled $132,010 and $123,727 for the years ended September 30, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Fairmount Bancorp, Inc. 10-K