Macatawa Bank Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT - NET

PREMISES AND EQUIPMENT - NET

12 Months Ended

Dec. 31, 2013

PREMISES AND EQUIPMENT - NET [Abstract]

PREMISES AND EQUIPMENT - NET

NOTE 6 – PREMISES AND EQUIPMENT – NET

Year-end premises and equipment were as follows (dollars in thousands):

	2013			2012
Land	$	18,236		$	18,236
Building		42,530			42,512
Leasehold improvements		779			779
Furniture and equipment		20,344			19,308
Construction in progress		1,065			604
		82,954			81,439
Less accumulated depreciation		(29,313	)		(27,863	)
	$	53,641		$	53,576

Depreciation expense was $2,342,000, $2,400,000 and $2,661,000 for 2013, 2012 and 2011, respectively.

The Bank leases certain office and branch premises and equipment under operating lease agreements. Total rental expense for all operating leases aggregated to $354,000, $460,000 and $481,000 for 2013, 2012 and 2011, respectively. Future minimum rental expense under noncancelable operating leases as of December 31, 2013 is as follows (dollars in thousands):

2014	$	254
2015		233
2016		230
2017		229
2018		229
Thereafter		356
	$	1,531

- 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.

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