Annual report pursuant to Section 13 and 15(d)

Parent Company Only Statements

v3.8.0.1
Parent Company Only Statements
 12 Months Ended
Dec. 31, 2017
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,
 
 
December 31,
 
 
 
2017
 
 
2016
 
Assets
 
 
 
 
 
 
 
 
Cash on deposit with Peoples Bank
 
$
125
 
 
$
57
 
Investment in Peoples Bank
 
 
89,915
 
 
 
82,875
 
Investment in NWIN Risk Management, Inc.
 
 
1,674
 
 
 
775
 
Dividends receivable from Peoples Bank
 
 
831
 
 
 
800
 
Other assets
 
 
899
 
 
 
775
 
Total assets
 
$
93,444
 
 
$
85,282
 
 
 
 
 
 
 
 
 
 
Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
Dividends payable
 
$
831
 
 
$
800
 
Other liabilities
 
 
553
 
 
 
374
 
Total liabilities
 
 
1,384
 
 
 
1,174
 
 
 
 
 
 
 
 
 
 
Common stock
 
 
361
 
 
 
361
 
Additional paid in capital
 
 
4,506
 
 
 
4,300
 
Accumulated other comprehensive income
 
 
684
 
 
 
(1,506
)
Retained earnings
 
 
86,509
 
 
 
80,953
 
Total stockholders’ equity
 
 
92,060
 
 
 
84,108
 
Total liabilities and stockholders’ equity
 
$
93,444
 
 
$
85,282
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Income
 
 
 
Year Ended December 31,
 
 
 
2017
 
 
2016
 
 
 
 
 
 
 
 
Dividends from Peoples Bank
 
$
3,295
 
 
$
3,520
 
Operating expenses
 
 
262
 
 
 
194
 
Income before income taxes and equity in undistributed income of Peoples Bank
 
 
3,033
 
 
 
3,326
 
Income tax benefit
 
 
(69
)
 
 
(54
)
Income before equity in undistributed income of Peoples Bank
 
 
3,102
 
 
 
3,380
 
Equity in undistributed
 
 
 
 
 
 
 
 
 income of Peoples Bank
 
 
4,961
 
 
 
5,237
 
 income of NWIN Risk Management, Inc.
 
 
898
 
 
 
525
 
Net income
 
$
8,961
 
 
$
9,142
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Cash Flows
 
 
 
Year Ended December 31,
 
 
 
2017
 
 
2016
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
Net income
 
$
8,961
 
 
$
9,142
 
Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
 
 
 
 
Equity in undistributed net income of:
 
 
 
 
 
 
 
 
 Peoples Bank
 
 
(4,961
)
 
 
(5,237
)
 NWIN Risk Management, Inc.
 
 
(898
)
 
 
(525
)
Stock based compensation expense
 
 
192
 
 
 
142
 
Change in other assets
 
 
(155
)
 
 
(654
)
Change in other liabilities
 
 
179
 
 
 
(159
)
Total adjustments
 
 
(5,643
)
 
 
(6,433
)
 Net cash - operating activities
 
 
3,318
 
 
 
2,709
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
Investment in NWIN Risk Management, Inc.
 
 
-
 
 
 
(250
)
 Net cash - investing activities
 
 
-
 
 
 
(250
)
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Dividends paid
 
 
(3,264
)
 
 
(3,143
)
Proceeds from issuance of common stock
 
 
14
 
 
 
-
 
 Net cash - financing activities
 
 
(3,250
)
 
 
(3,143
)
Net change in cash
 
 
68
 
 
 
(684
)
Cash at beginning of year
 
 
57
 
 
 
741
 
Cash at end of year
 
$
125
 
 
$
57