Finward Bancorp Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Acquisition Activity (Tables)

9 Months Ended

Sep. 30, 2019

ASSETS
Cash and due from banks	$	68,303
Investment securities, available for sale		3,432

Commercial		712
Residential mortgage		85,635
Multifamily		1,442
Consumer		57
Total Loans		87,846

Premises and equipment, net		3,542
FHLB stock		512
Goodwill		2,939
Core deposit intangible		2,917
Interest receivable		351
Other assets		8,939
Total assets purchased	$	178,781
Common shares issued		17,492
Cash paid		15,743
Total purchase price	$	33,235

LIABILITIES
Deposits
Non-interest bearing	$	24,502
NOW accounts		10,712
Savings and money market		68,875
Certificates of deposits		40,137
Total Deposits		144,226

Interest payable		50
Other liabilities		1,270

Total liabilities assumed	$	145,546

ASSETS
Cash and due from banks	$	30,178
Investment securities, available for sale		2

Commercial		53,026
Residential mortgage		32,542
Consumer		9,004
Total Loans		94,572

Premises and equipment, net		5,799
FHLB stock		219
Goodwill		5,437
Core deposit intangible		3,044
Interest receivable		274
Other assets		6,405
Total assets purchased	$	145,930
Common shares issued		6,928
Cash paid		8,689
Total purchase price	$	15,617

LIABILITIES
Deposits
Non-interest bearing	$	14,517
NOW accounts		22,177
Savings and money market		41,852
Certificates of deposits		46,355
Total Deposits		124,901

Borrowings		4,124
Interest payable		32
Other liabilities		1,256

Total liabilities assumed	$	130,313