PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 - PREMISES AND EQUIPMENT

Period end premises and equipment were as follows at December 31:

	2014		2013
Land & land improvements	$	4,701,611	$	4,700,464
Buildings & building improvements		6,214,971		6,201,507
Furniture, fixtures and equipment		3,604,543		3,864,940
		14,521,125		14,766,911
Less: accumulated depreciation		5,440,344		5,621,444
	$	9,080,781	$	9,145,467

Depreciation expense was $367,631 for 2014 and $408,990 for 2013.

- 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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