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

Note 5 - Premises and Equipment, Net

12 Months Ended

Dec. 31, 2019

Note

–

Premises and Equipment, Net

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

	(Dollars in thousands)
	2019			2018
Cost:
Land	$	8,936		$	7,368
Buildings and improvements		30,863			27,523
Furniture and equipment		16,904			15,715
Total cost		56,703			50,606
Less accumulated depreciation		(27,296	)		(25,782	)
Premises and equipment, net	$	29,407		$	24,824

Depreciation expense was approximately

$1.9

million and

$1.5

million for

2019

and

2018,

respectively.