Note 7 - Premises and Equipment

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

(

7

)

Premises

and

Equipment

Premises and equipment are comprised of the following as of

December 31:

	20 1 8			2017
Land	$	10,934,885		$	9,668,722
Building		26,544,689			26,893,354
Furniture, Fixtures and Equipment		12,782,042			13,090,366
Leasehold Improvements		696,529			655,166
Construction in Progress		581,389			68,253
		51,539,534			50,375,861
Accumulated Depreciation		(22,708,262	)		(22,736,431	)
	$	28,831,272		$	27,639,430

Depreciation charged to operations totaled

$1,786,652

in

2018,

$1,647,813

in

2017

and

$1,574,249

in

2016.

Certain Company facilities and equipment are leased under various operating leases. Rental expense approximated

$443,000

for

2018,

$427,000

for

2017

and

$437,000

for

2016.

Future minimum rental payments as of

December 31, 2018

are as follows:

Year Ending December 31	Amount
2019	$	63,480
2020		42,000
2021		42,000
2022		38,500
2023 and Thereafter		-
	$	185,980