BANK PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

BANK PREMISES AND EQUIPMENT [Abstract]

NOTE E.

BANK PREMISES AND EQUIPMENT

A summary of Bank premises and equipment is as follows:

	2011			2010
Buildings and Improvements	$	8,194,380		$	8,165,338
Furniture and Equipment		5,071,266			6,251,420
		13,265,646			14,416,758
Less: Accumulated Depreciation		(7,509,204	)		(8,369,162	)
Land		1,551,481			1,551,481
Bank Premises and Equipment, Net	$	7,307,924		$	7,599,077

The provision for depreciation charged to operating expenses was $611,997 and $756,295 for the years ended December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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