Bank Premises and Equipment

12 Months Ended

Dec. 31, 2014

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, 2014 and 2013, is as follows:

	2014		2013
Land	$	2,145,003	$	2,145,003
Buildings and improvements		4,343,643		4,297,565
Furniture, fixtures and equipment		3,315,766		3,313,948
		9,804,412		9,756,516
Accumulated depreciation		(4,976,289)		(4,764,067)
	$	4,828,123	$	4,992,449

Depreciation expense for the years ended December 31, 2014, 2013 and 2012, amounted to $365,377, $420,287, and $461,905, respectively.

Certain bank facilities and equipment are leased under various operating leases. Total rent expense on these leases for the years ended December 31, 2014, 2013 and 2012, was $382,719, $390,464, and $390,571, respectively.

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

2015	$	348,455
2016		284,152
2017		83,570
2018		7,452
2019		6,831
Total	$	730,460