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, 2011

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)
	2011			2010
Cost:
Land	$	4,540		$	4,540
Buildings and improvements		19,171			19,083
Furniture and equipment		11,051			10,751
Total cost		34,762			34,374
Less accumulated depreciation		(16,520	)		(15,081	)
Premises and equipment, net	$	18,242		$	19,293

Depreciation expense was approximately $1,468,000 and $1,469,000 for 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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