PREMISES, FURNITURE AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of components of premises, furniture and equipment

	2013		2012
Land and land improvements	$	3,265,318	$	3,265,318
Building and leasehold improvements	18,409,641		18,409,641
Furniture and equipment	4,780,677		4,760,010
Software	834,684		720,957
Construction in progress	54,111		48,765
Total	27,344,431		27,204,691
Less, accumulated depreciation	5,939,918		5,675,029
Premises, furniture and equipment, net	$	21,404,513	$	21,529,662

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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