Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Premises and equipment are comprised of the following as of December 31:

	2012			2011

Land	$	7,780,167		$	7,780,167
Building		23,758,761			23,662,849
Furniture, Fixtures and Equipment		12,923,699			12,982,160
Leasehold Improvements		948,260			994,637
Construction in Progress		-			77,366

		45,410,887			45,497,179
Accumulated Depreciation		(20,494,781	)		(19,746,944	)

	$	24,916,106		$	25,750,235

Future minimum rental payments

Future minimum rental payments as of December 31, 2012 are as follows:

Year Ending December 31	Amount

2013	$	131,978
2014		52,138
2015		42,000
2016 and After		84,000

	$	310,116

- Definition

Tabular disclosure of the useful life and salvage value of 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.

+ References+ Details