Finward Bancorp Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Premises and Equipment, Net

Premises and Equipment, Net

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 4 Premises and Equipment, Net

At year end, premises and equipment are summarized as follows:

	(Dollars in thousands)
	2013		2012
Cost:
Land	$	4,540	$	4,540
Buildings and improvements		19,588		19,277
Furniture and equipment		11,786		11,244
Total cost		35,914		35,061
Less accumulated depreciation		(18,654)		(17,383)
Premises and equipment, net	$	17,260	$	17,678

Depreciation expense was approximately $1,312,000 and $1,361,000 for 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details