PREMISES, EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Schedule of premises, equipment and leasehold improvements

Premises, equipment and leasehold improvements are summarized as follows:

		December 31,
		2016			2015
Bank buildings	$	1,824,613		$	1,824,613
Land		838,075			838,075
Leasehold purchase		30,000			30,000
Lease improvements		690,212			687,333
Construction in process		11,754			11,754
Equipment		3,264,488			3,070,783
		6,659,142			6,462,558
Accumulated depreciation		(4,362,518	)		(4,173,330	)
Total	$	2,296,624		$	2,289,228

Schedule of minimum rental commitments for leases

Minimum rental commitments for these leases as of December 31, 2016 are as follows:

2017	$	615,122
2018		622,890
2019		614,103
2020		591,067
2021		608,257
2022 and thereafter		4,708,393
Total	$	7,759,832