Premises and Equipment

12 Months Ended

Dec. 31, 2014

(6)	Premises and Equipment

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

	2014			2013

Land	$	8,270,678		$	7,790,167
Building		23,894,943			23,832,454
Furniture, Fixtures and Equipment		12,243,988			13,846,579
Leasehold Improvements		990,626			970,346
Construction in Progress		14,090			236,591

		45,414,325			46,676,137
Accumulated Depreciation		(20,453,880	)		(21,799,668	)

	$	24,960,445		$	24,876,469

Depreciation charged to operations totaled $1,595,253 in 2014, $1,527,392 in 2013 and $1,676,820 in 2012.

Certain Company facilities and equipment are leased under various operating leases. Rental expense approximated $613,000 for 2014, $490,000 for 2013 and $447,000 for 2012.

Future minimum rental payments as of December 31, 2014 are as follows:

Year Ending December 31	Amount

2015	$	129,457
2016		73,883
2017		38,500

	$	241,840

- 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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