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

Parent Company Only Statements (Tables)

12 Months Ended

Dec. 31, 2017

	(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