Note 7 - Core Deposit Intangible

12 Months Ended

Dec. 31, 2018

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,
	2018			2017
Gross carrying value	$	502,000		$	502,000
Less accumulated amortization		(329,892	)		(281,336	)
Core deposit intangible	$	172,108		$	220,664

Amortization of core deposit intangible was

$49,000

and

$62,000

for the years ended

December 31, 2018

and

2017,

respectively.

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

December 31, 2018

is as follows:

Year one	$	39,057
Year two		35,443
Year three		35,443
Year four		35,443
Year five		26,722
Thereafter		-
Core deposit intangible	$	172,108