Premises and Equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Premises and Equipment

4. PREMISES AND EQUIPMENT

The amounts reported as bank premises and equipment at December 31, 2016 and 2015, are as follows:

	2016			2015
Land	$	3,866,891		$	3,089,352
Building		12,512,392			13,396,340
Furniture and equipment		8,846,887			9,006,056
Construction in process		162,231			0
		25,388,401			25,491,748
Less accumulated depreciation		(14,179,116	)		(14,334,304	)
Total	$	11,209,285		$	11,157,444

Depreciation of premises and equipment was $923,578, $961,964, and $890,812 in 2016, 2015, and 2014, 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 building is being leased for a loan production office opened in Tifton, Georgia, in January 2016. Land has been purchased for a full-service banking center in Tifton, Georgia, and construction is expected to begin by second quarter 2017.