Note 4 - Premises and Equipment

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE

4:

     PREMISES AND EQUIPMENT

Major classifications of premises and equipment, stated at cost, are as follows:

	December 31,			December 31,
	2017			2016
Land	$	1,377,304		$	2,251,789
Buildings and Improvements		9,649,660			11,850,553
Automobile		25,115			25,115
Furniture, Fixtures and Equipment		9,554,925			11,357,768
Leasehold Improvements		277,376			271,799
		20,884,380			25,757,024
Less accumulated depreciation		(10,277,286	)		(14,885,985	)
Net premises and equipment	$	10,607,094		$	10,871,039

During the

fourth

quarter of

2017,

the Company sold the

building and land of the previous headquarters which had a book value of

$2,601,284.

The Company recognized a loss on sale of

$95,863.