The components of premises and equipment at December 31, 2015 and 2014 are as follows:
|
|
|
|
|
|
|
|
|
Useful Life |
|
||
|
|
|
2015 |
|
2014 |
|
(in years) |
|
||||
|
Land |
|
$ |
1,210,000 |
|
$ |
1,210,000 |
|
|
|
|
|
|
Buildings and improvements |
|
|
1,152,885 |
|
|
1,129,500 |
|
10 |
— |
40 |
|
|
Leasehold improvements |
|
|
2,541,136 |
|
|
2,492,543 |
|
10 |
— |
25 |
|
|
Furniture, fixtures and equipment |
|
|
1,873,027 |
|
|
1,999,929 |
|
3 |
— |
10 |
|
|
Software |
|
|
479,993 |
|
|
430,260 |
|
3 |
— |
10 |
|
|
|
|
|
7,257,041 |
|
|
7,262,232 |
|
|
|
|
|
|
Accumulated depreciation and amortization |
|
|
(2,196,239) |
|
|
(1,708,276) |
|
|
|
|
|
|
Net premises and equipment |
|
$ |
5,060,802 |
|
$ |
5,553,957 |
|
|
|
|
|