5. Bank Premises and Equipment

12 Months Ended

Dec. 31, 2016

Disclosure Text Block [Abstract]

5. Bank Premises and Equipment

5. BANK PREMISES AND EQUIPMENT

The major classes of bank premises and equipment and the total accumulated depreciation are as follows at December 31:

(In 000’s)	Estimated
	useful life	2016	2015
Leasehold improvements	10-15 years	$  832	$   788
Furniture and equipment	3- 7 years	1,332	1,297
		2,164	2,085
Less accumulated depreciation		(1,784)	(1,592)
		$   380	$   493

Depreciation expense on fixed assets totaled $190,334 and $177,987 for the years ended December 31, 2016 and 2015, respectively.

The Bank leases its facilities and certain equipment under non-cancelable operating lease agreements. The amount of expense for operating leases for the years ended December 31, 2016 and 2015 was $471,540 and $481,721, respectively. Future minimum lease payments under operating leases are as follows:

(In 000’s)

Year ending December 31,	Operating     leases
2017	$  481
2018	492
2019	488
2020	412
2021	420
Thereafter	549
Total minimum lease payments	$2,842