Bank Premises and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 6.

Bank Premises and Equipment

A summary of bank premises and equipment at December 31, 2013 and 2012, is as follows:

	2013		2012

Land	$	2,145,003	$	2,145,003
Buildings and improvements		4,297,565		4,284,293
Furniture, fixtures and equipment		3,313,948		3,713,758

		9,756,516		10,143,054
Accumulated depreciation		(4,764,067)		(4,743,714)

	$	4,992,449	$	5,399,340

Depreciation expense for the years ended December 31, 2013, 2012 and 2011, amounted to $420,287, $461,905, and $475,938, respectively.

Certain bank facilities and equipment are leased under various operating leases. Total rent expense on these leases for the years ended December 31, 2013, 2012 and 2011, was $390,464, $390,571, and $392,114, respectively.

Future minimum rental commitments under non-cancelable leases are as follows:

2014	$	348,444
2015		233,649
2016		128,600

Total	$	710,693

- 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.

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