8. BANK PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

NOTE 8. BANK PREMISES AND EQUIPMENT

Bank premises and equipment as of December 31 are summarized as follows:

	2016		2015
Land	$	3,090,632	$	1,868,709
Buildings and improvements		9,404,429		7,209,427
Furniture and equipment		6,560,956		7,397,173
		19,056,017		16,475,309
Less - accumulated depreciation		(8,788,082)		(8,933,231	)
Net	$	10,267,935	$	7,542,078

Provisions for depreciation of $801,093 in 2016, $709,237 in 2015, and $612,116 in 2014 were charged to operations.