9. OTHER REAL ESTATE OWNED (Tables)

12 Months Ended

Dec. 31, 2016

Other Real Estate Owned Tables

Other Real Estate Owned Activity

The table below reflects other real estate owned (OREO) activity for 2016 and 2015:

	Other Real Estate Owned
		2016			2015
Balance as of January 1		$	2,127,685		$	3,507,153
Loans transferred to OREO			566,272			125,000
Capital improvements			24,335			98,929
Sale of OREO			(623,249	)		(1,065,792	)
Write down of OREO or losses on sale			(19,074	)		(537,605	)
Balance as of December 31		$	2,075,969		$	2,127,685