Notes to Financial Statements
6. Property and Equipment
At December 31, 2006 and 2005 property and equipment, a component of other assets, consisted of (in thousands):
| Depreciable Life in Years | 2006 | 2005 | |
|---|---|---|---|
| Land and land improvements | 15 | $2,761 | $2,761 |
| Buildings | 40 | 50,135 | 49,935 |
| Furniture and Equipment | 3–5 | 20,537 | 17,251 |
| Total | 73,433 | 69,947 | |
| Less, Accumulated depreciation and amortization | (21,882) | (16,391) | |
| Property and equipment, net | $51,551 | $53,556 |