Note 6 - Premises and Equipment, Net

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE

6

– PREMISES AND EQUIPMENT

, NET

Components of premises and

equipment, net included in the consolidated balance sheets were as follows:

	At December 31,			At December 31,
	2017			2016
Cost:
Land and improvements	$	2,452,807		$	2,452,807
Building and improvements		12,218,857			11,649,269
Furniture and equipment		2,266,934			2,242,897
Automobiles		137,635			137,303
Total cost		17,076,233			16,482,276
Accumulated depreciation and amortization		(6,955,329	)		(6,368,806	)
Net book value	$	10,120,904		$	10,113,470

Depreciation and amortization

expense was

$678,000

and

$607,000

for the years ended

December 31, 2017

and

2016,

respectively.