Annual report pursuant to Section 13 and 15(d)

Parent Company Only Statements

v3.6.0.2
Parent Company Only Statements
 12 Months Ended
Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Note 17 – Parent Company Only Statements
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Balance Sheets
 
 
 
December 31,
 
 
 
2016
 
 
2015
 
Assets
 
 
 
 
 
 
 
 
Cash on deposit with Peoples Bank
 
$
57
 
 
$
741
 
Investment in Peoples Bank
 
 
82,875
 
 
 
80,551
 
Investment in NWIN Risk Management, Inc.
 
 
775
 
 
 
-
 
Dividends receivable from Peoples Bank
 
 
800
 
 
 
770
 
Other assets
 
 
775
 
 
 
150
 
Total assets
 
$
85,282
 
 
$
82,212
 
 
 
 
 
 
 
 
 
 
Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
Dividends payable
 
$
800
 
 
$
770
 
Other liabilities
 
 
374
 
 
 
533
 
Total liabilities
 
 
1,174
 
 
 
1,303
 
 
 
 
 
 
 
 
 
 
Common stock
 
 
361
 
 
 
361
 
Additional paid in capital
 
 
4,300
 
 
 
4,158
 
Accumulated other comprehensive income
 
 
(1,506
)
 
 
1,406
 
Retained earnings
 
 
80,953
 
 
 
74,984
 
Total stockholders’ equity
 
 
84,108
 
 
 
80,909
 
Total liabilities and stockholders’ equity
 
$
85,282
 
 
$
82,212
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Income
 
 
 
Year Ended December 31,
 
 
 
2016
 
 
2015
 
 
 
 
 
 
 
 
Dividends from Peoples Bank
 
$
3,520
 
 
$
3,021
 
Operating expenses
 
 
194
 
 
 
151
 
Income before income taxes and equity in undistributed income of Peoples Bank
 
 
3,326
 
 
 
2,870
 
Income tax benefit
 
 
(54
)
 
 
(29
)
Income before equity in undistributed income of Peoples Bank
 
 
3,380
 
 
 
2,899
 
Equity in undistributed 
 
 
 
 
 
 
 
 
Income of Peoples Bank
 
 
5,237
 
 
 
4,953
 
Income of NWIN Risk Management, Inc.
 
 
525
 
 
 
-
 
Net income
 
$
9,142
 
 
$
7,852
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Cash Flows
 
 
 
Year Ended December 31,
 
 
 
2016
 
 
2015
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
Net income
 
$
9,142
 
 
$
7,852
 
Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
 
 
 
 
Equity in undistributed net income of:
 
 
 
 
 
 
 
 
Peoples Bank
 
 
(5,237
)
 
 
(4,953
)
NWIN Risk Management, Inc.
 
 
(525
)
 
 
-
 
Stock based compensation expense
 
 
142
 
 
 
96
 
Change in other assets
 
 
(654
)
 
 
104
 
Change in other liabilities
 
 
(159
)
 
 
461
 
Total adjustments
 
 
(6,433
)
 
 
(4,292
)
Net cash - operating activities
 
 
2,709
 
 
 
3,560
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
Investment in NWIN Risk Management, Inc.
 
 
(250
)
 
 
-
 
Net cash - investing activities
 
 
(250
)
 
 
-
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Dividends paid
 
 
(3,143
)
 
 
(2,962
)
Net cash - financing activities
 
 
(3,143
)
 
 
(2,962
)
Net change in cash
 
 
(684
)
 
 
598
 
Cash at beginning of year
 
 
741
 
 
 
143
 
Cash at end of year
 
$
57
 
 
$
741