A summary of our premises and equipment and the related depreciation expense follows:

 

 

 

 

 

 

 

 

December 31,

    

2016

    

2015

 

Land

 

$
5,207,030

 

$
5,825,061

 

Building

 

 
27,854,975

 

 
29,662,308

 

Leasehold improvements

 

 
6,745,221

 

 
5,870,113

 

Furniture and equipment

 

 
8,018,395

 

 
8,277,557

 

 

 

 
47,825,621

 

 
49,635,039

 

Accumulated depreciation

 

 
11,080,917

 

 
13,460,061

 

Net premises and equipment

 

$
36,744,704

 

$
36,174,978

 

Depreciation expense

 

$
2,248,205

 

$
2,134,286