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Premises and Equipment
 12 Months Ended
Dec. 31, 2019
Premises and Equipment  
Premises and Equipment

Note 5:   Premises and Equipment

Major classifications of premises and equipment, stated at cost, are as follows:

 

 

 

 

 

 

 

 

 

    

2019

    

2018

 

 

 

 

 

 

 

Land

 

$

720,971

 

$

720,971

Buildings and improvements

 

 

4,412,275

 

 

4,344,614

Furniture and equipment

 

 

1,013,645

 

 

938,717

 

 

 

6,146,891

 

 

6,004,302

Less accumulated depreciation

 

 

(2,792,444)

 

 

(2,597,117)

 

 

 

 

 

 

 

Net premises and equipment

 

$

3,354,447

 

$

3,407,185

 

Depreciation expense was $195,327 and $146,190 for the years ended December 31, 2019 and 2018, respectively.