Investment Properties

12 Months Ended

Dec. 31, 2015

6. Investment Properties

Investment properties consist of the following as of December 31:

	2015		2014
Land	$	3,417,716	$	3,185,624
Buildings and improvements		29,715,169		27,828,509

Total land, buildings and improvements		33,132,885		31,014,133
Furniture, fixtures and equipment		330,239		304,399

Investment properties at cost		33,463,124		31,318,532
Less — accumulated depreciation		9,915,386		8,950,747

Investment properties at cost, net	$	23,547,738	$	22,367,785


Construction in progress included above	$	663,271	$	640,081

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

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