LEASES

12 Months Ended

Dec. 31, 2016

Leases, Operating [Abstract]

Operating Leases of Lessor Disclosure [Text Block]

NOTE 12 – LEASES

The Bank has noncancelable operating leases that expire over the next five years that require the payment of base lease amounts and executory costs such as taxes, maintenance and insurance. Rental expense for leases was $701,000 and $360,000 for the years ended December 31, 2016 and 2015, respectively.

Approximate future minimum rental commitments under noncancelable leases are:

For the Year Ending
December 31,		Amount
	2017	$	559,119
	2018		782,567
	2019		711,380
	2020		612,179
	2021		520,179
		$	3,185,424