5. Bank Premises and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Note 5. Bank Premises and Equipment

The major classes of bank premises and equipment and accumulated depreciation and amortization at December 31 were as follows:

	2015			2014
Buildings and improvements	$	11,176,189		$	10,927,643
Land and land improvements		2,377,703			2,408,921
Furniture and equipment		8,752,908			8,443,668
Leasehold improvements		1,048,409			1,319,591
Capital lease		976,907			976,907
Other prepaid assets		514,476			54,261
		24,846,592			24,130,991
Less accumulated depreciation and amortization		(13,386,385	)		(12,642,043	)
	$	11,460,207		$	11,488,948

The Company is obligated under non-cancelable operating leases for bank premises expiring in various years through 2020, with options to renew.  Minimum future rental payments for these leases with original terms in excess of one year as of December 31, 2015 for each of the next five years and in aggregate are:

2016	$	183,396
2017		130,493
2018		132,612
2019		104,326
2020		76,351
	$	627,178

Total rental expense amounted to $204,991 and $237,524 for the years ended December 31, 2015 and 2014, respectively.

Capital lease obligations

The following is a schedule by years of future minimum lease payments under capital leases, together with the present value of the net minimum lease payments as of December 31, 2015:

2016	$	129,755
2017		133,255
2018		138,155
2019		138,155
2020		107,155
Subsequent to 2020		37,190
Total minimum lease payments		683,665
Less amount representing interest		(125,300	)
Present value of net minimum lease payments	$	558,365