CORE DEPOSIT INTANGIBLE

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

CORE DEPOSIT INTANGIBLE

NOTE 4 – CORE DEPOSIT INTANGIBLE

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

	March 31,			December 31,
	2016			2015
Gross carrying value	$	502,000		$	502,000
Less accumulated amortization		(160,763	)		(139,220	)
Core deposit intangible	$	341,237		$	362,780

Amortization of core deposit intangible was $21,543 and $27,624 for the three months ended March 31, 2016 and 2015, respectively.

NOTE 9 – CORE DEPOSIT INTANGIBLE

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

	December 31,
	2015			2014
Gross carrying value	$	502,000		$	502,000
Less accumulated amortization		(139,220	)		(36,832	)
Core deposit intangible	$	362,780		$	465,168

Amortization of core deposit intangible was $102,000 and $37,000 for the year ended December 31, 2015 and the twelve months ended December 31, 2014, respectively.

The future amortization expense related to core deposit intangible remaining as of December 31, 2015 is as follows:

Year one	$	79,847
Year two		62,266
Year three		48,556
Year four		39,057
Year five		35,443
Thereafter		97,611
	$	362,780