Premises and Equipment, net

12 Months Ended

Dec. 31, 2013

Note 8.

Premises and Equipment, net

Components of premises and equipment included in the balance sheets at December 31, 2013 and 2012 were as follows:


	2013			2012

Land and improvements	$	1,998,623		$	2,085,769
Buildings and improvements		11,764,356			12,544,293
Furniture and equipment		8,881,795			8,974,077

Total cost	$	22,644,774		$	23,604,139
Less accumulated depreciation		(12,024,232	)		(11,992,451	)

Premises and equipment, net	$	10,620,542		$	11,611,688

Depreciation expense for the years ended December 31, 2013 and 2012 totaled $754,480 and $769,476, 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.

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