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Bank Premises and Equipment

12 Months Ended

Dec. 31, 2011

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, 2011 and 2010, is as follows:

	2011			2010

Land	$	2,145,003		$	3,711,003
Buildings and improvements		4,302,862			4,806,209
Furniture, fixtures and equipment		3,735,576			3,653,710

		10,183,441			12,170,922
Accumulated depreciation		(4,471,438	)		(4,123,552	)

	$	5,712,003		$	8,047,370

Depreciation expense for the years ended December 31, 2011, 2010 and 2009, amounted to $475,938, $513,468, and $670,054, respectively.

Certain bank facilities and equipment are leased under various operating leases. Total rent expense on these leases for the years ended December 31, 2011, 2010 and 2009, was $392,114, $423,580, and $426,938, respectively.

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

2012	$	351,689
2013		348,455
2014		348,455
2015		237,384
2016		132,331

Total	$	1,418,314

- 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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