Note 7 - Core Deposit Intangible

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

7

–

CORE DEPOSIT INTANGIBLE

The gross carrying value and accumulated amortization of core deposit intangible is as follows:

	December 31,
	2017			2016
Gross carrying value	$	502,000		$	502,000
Less accumulated amortization		(281,336	)		(219,068	)
Total	$	220,664		$	282,932

Amortization of core

deposit intangible was

$62,000

and

$80,000

for the years ended

December 31, 2017

and

2016,

respectively.

The future amortization expense related to core deposit intangible remaining as of

December 31,

201

7

is as follows:

Year one	$	48,556
Year two		39,057
Year three		35,443
Year four		35,443
Year five		35,443
Thereafter		26,722
Total	$	220,664