Premises and equipment

12 Months Ended

Dec. 31, 2013

Note 5.

Premises and equipment

The following is a summary of premises and equipment as of December 31, 2013 and 2012:

	2013			2012

Land	$	3,802,952		$	6,190,561
Buildings and improvements		6,499,746			20,385,517
Furniture, fixtures and equipment		8,772,718			7,585,491
Total premises and equipment		19,075,416			34,161,569
Less: Accumulated depreciation and amortization		(6,666,429	)		(8,346,227	)

Premises and equipment, net	$	12,408,987		$	25,815,342

Depreciation and amortization of premises and equipment for 2013, 2012 and 2011 amounted to $1,311,000, $1,366,000 and $1,418,000 respectively.

- Definition

The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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