Leases

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Leases

NOTE L   LEASES

The Bank leases office space under agreements expiring in various years through November 2016. In addition, the Bank rents office space on a month-to-month basis from non-related groups.

The total minimum rental commitment at December 31, 2011, under the leases is due as follows:

December 31,
2012	$	179,183
2013		181,048
2014		182,913
2015		184,778
2016		141,955
	$	869,877

For the years ended December 31, 2011, 2010 and 2009, $249,036, $243,701 and $227,714 was charged to rent expense, respectively.

The Bank is the lessor of office space under operating leases expiring in various years through December 2018. Minimum future rentals to be received on non-cancelable leases as of December 31, 2011 follows:

December 31,
2012	$	117,541
2013		73,677
2014		33,482
2015		30,522
2016		30,522
Thereafter		61,044
	$	346,788