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PREMISES AND EQUIPMENT

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

PREMISES AND EQUIPMENT

Period end premises and equipment were as follows at June 30, 2014 and December 31, 2013:

	June 30,		December 31,
	2014		2013
Land & land improvements	$	4,700,464	$	4,700,464
Buildings & building improvements		6,201,507		6,201,507
Furniture, fixtures and equipment		3,872,254		3,864,940
		14,774,225		14,766,911
Less: accumulated depreciation		5,626,153		5,621,444
	$	9,148,072	$	9,145,467

- 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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