OTHER REAL ESTATE

12 Months Ended

Dec. 31, 2015

Real Estate [Abstract]

OTHER REAL ESTATE

NOTE 7 – OTHER REAL ESTATE

Other real estate is summarized as follows:

	December 31,		December 31,
	2015		2014
Other real estate:
Commercial	$	306,000	$	820,000
Residential		-		-
Total other real estate	$	306,000	$	820,000

Other real estate at December 31, 2015 and 2014 consisted of one commercial property.

An analysis of the change in other real estate follows:

				Twelve Months
	Year Ended			Ended
	December 31,			December 31,
	2015			2014
Beginning balance	$	820,000		$	1,286,854
Foreclosures and additions		28,317			16,888
Impairments		(517,863	)		-
Sales		(24,454	)		(483,742	)
Ending balance	$	306,000		$	820,000