PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

NOTE 8 – PREMISES AND EQUIPMENT, NET

Components of premises and equipment, net included in the consolidated balance sheets at December 31, 2015 and 2014 were as follows:

	At December 31,			At December 31,
	2015			2014
Cost:
Land	$	2,083,915		$	2,043,881
Building and improvements		11,383,618			11,400,145
Furniture and equipment		2,011,609			1,933,912
Automobiles		129,902			129,902
Total cost		15,609,044			15,507,839
Accumulated depreciation and amortization		(5,807,716	)		(5,476,347	)
Net book value	$	9,801,328		$	10,031,492

Depreciation and amortization expense was $565,000 and $536,000 for the years ended December 31, 2015 and 2014, respectively.