INCOME TAXES

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

11. INCOME TAXES

A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense for the nine months ended September 30, 2015 and 2014 is shown below.

	September 30, 2015			September 30, 2014
Computed at the statutory rate (34%)	$	1,077,901		$	1,044,204
Increase (decrease) resulting from
Tax exempt interest		(332,888	)		(382,400	)
State income taxes, net		147,443			137,370
Increase in cash surrender value		(45,055	)		(47,904	)
Other, net		839			(864	)
Actual tax expense	$	848,240		$	750,406