Note 6 - Premises and Equipment

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

(6)

           

PREMISES AND EQUIPMENT

Premises and equipment as of

December

31

consisted of the following:

(In thousands)	2016		2015
Land and land improvements	$	5,297	$	4,771
Leasehold improvements		134		56
Office buildings		13,136		12,632
Furniture, fixtures and equipment		5,723		5,662
		24,290		23,121
Less accumulated depreciation		9,449		9,185
Totals	$	14,841	$	13,936

Depreciation expense was

$1.0

million and

$744,000

for the years ended

December

31,

2016

and

2015,

respectively.

The Company is constructing a new branch location in Clark County, Indiana, which is scheduled to be completed in

April

2017.

As of

December

31,

2016,

the Company had incurred and capitalized

$1.0

million related to the new branch, including land costs and down payments for equipment. The estimated cost to complete construction of the branch is approximately

$761,000.