Premises and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Premises and Equipment

 4. PREMISES AND EQUIPMENT

The amounts reported as bank premises and equipment at December 31, 2015 and 2014, are as follows:

	2015			2014
Land	$	3,089,352		$	3,089,352
Building		13,396,340			13,326,516
Furniture and equipment		9,006,056			8,933,200
		25,491,748			25,349,068
Less accumulated depreciation		(14,334,304	)		(13,592,801	)
Total	$	11,157,444		$	11,756,267

Depreciation of premises and equipment was $961,964, $890,812, and $897,849 in 2015, 2014, and 2013, respectively. The Corporation depreciates its long-lived assets on various methods over their estimated productive lives, as more fully described in Note 1, Summary of Significant Accounting Policies.

A commercial banking center in Valdosta, Georgia, was completed and opened in August of 2014. A building is being leased for a loan production office opened in Tifton, Georgia, in January 2016.