Annual report pursuant to Section 13 and 15(d)

Parent Company Only Statements

v3.10.0.1
Parent Company Only Statements
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Note 18 –
Parent Company Only Statements
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Balance Sheets
 
 
 
December 31,
 
 
December 31,
 
 
 
2018
 
 
2017
 
Assets
 
 
 
 
 
 
 
 
Cash on deposit with Peoples Bank
 
$
881
 
 
$
125
 
Investment in Peoples Bank
 
 
98,606
 
 
 
89,915
 
Investment in NWIN Risk Management, Inc
 
 
2,503
 
 
 
1,674
 
Dividends receivable from Peoples Bank
 
 
909
 
 
 
831
 
Other assets
 
 
302
 
 
 
899
 
Total assets
 
$
103,201
 
 
$
93,444
 
 
 
 
 
 
 
 
 
 
Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
Dividends payable
 
$
909
 
 
$
831
 
Other liabilities
 
 
828
 
 
 
553
 
Total liabilities
 
 
1,737
 
 
 
1,384
 
 
 
 
 
 
 
 
 
 
Additional paid in capital
 
 
11,927
 
 
 
4,867
 
Accumulated other comprehensive (loss) income
 
 
(2,796
)
 
 
684
 
Retained earnings
 
 
92,333
 
 
 
86,509
 
Total stockholders’ equity
 
 
101,464
 
 
 
92,060
 
Total liabilities and stockholders’ equity
 
$
103,201
 
 
$
93,444
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Income
 
 
 
Year Ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Dividends from Peoples Bank
 
$
12,330
 
 
$
3,295
 
Operating expenses
 
 
477
 
 
 
262
 
Income before income taxes and equity in undistributed income of Peoples Bank
 
 
11,853
 
 
 
3,033
 
Income tax benefit
 
 
(98
)
 
 
(69
)
Income before equity in undistributed income of Peoples Bank
 
 
11,951
 
 
 
3,102
 
Equity in undistributed  (distributions in excess of income) income of Peoples Bank
 
 
(3,443
)
 
 
4,961
 
income of NWIN Risk Management, Inc
 
 
829
 
 
 
898
 
Net income
 
$
9,337
 
 
$
8,961
 
 
 
 
(Dollars in thousands)
 
 
 
NorthWest Indiana Bancorp
 
 
 
Condensed Statements of Cash Flows
 
 
 
Year Ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
Net income
 
$
9,337
 
 
$
8,961
 
Adjustments to reconcile
net income to net cash provided by operating activities
 
 
 
 
 
 
 
 
Distributions in excess of income (equity in undistributed income):
 
 
 
 
 
 
 
 
Peoples Bank
 
 
3,443
 
 
 
(4,961
)
NWIN Risk Management, Inc
 
 
(829
)
 
 
(898
)
Stock based compensation expense
 
 
204
 
 
 
192
 
Net surrender value of restricted stock awards
 
 
(72
)
 
 
-
 
Change in other assets
 
 
519
 
 
 
(155
)
Change in other liabilities
 
 
275
 
 
 
179
 
Total adjustments
 
 
3,540
 
 
 
(5,643
)
Net cash - operating activities
 
 
12,877
 
 
 
3,318
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
Cash paid for acquisition
 
 
(8,689
)
 
 
-
 
Investment in NWIN Risk Management, Inc
 
 
-
 
 
 
-
 
Net cash - investing activities
 
 
(8,689
)
 
 
-
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Dividends paid
 
 
(3,432
)
 
 
(3,264
)
Proceeds from issuance of common stock
 
 
-
 
 
 
14
 
Net cash - financing activities
 
 
(3,432
)
 
 
(3,250
)
Net change in cash
 
 
756
 
 
 
68
 
Cash at beginning of year
 
 
125
 
 
 
57
 
Cash at end of year.
 
$
881
 
 
$
125