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

Annual report pursuant to Section 13 and 15(d)

Note 10 - Borrowed Funds (Tables)

Note 10 - Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Federal Home Loan Bank Advances Borrowed Funds [Table Text Block]

		(Dollars in thousands)
		2019				2018
Fixed rate advances from the FHLB		$	14,000			$	23,000
Variable rate advances from the FHLB			-				20,000
Total		$	14,000			$	43,000

Schedule of Federal Home Loan Bank Advances Rolling Maturity [Table Text Block]

		(Dollars in thousands)
2020		$	8,000
2021			6,000
Total		$	14,000

Schedule of Federal Home Loan Bank Advances Activity for Year Table Text Block]

		(Dollars in thousands)
		2019				2018
Ending balance		$	11,499			$	11,628
Average balance during the year			12,928				12,754
Maximum month-end balance during the year			20,628				16,672
Securities underlying the agreements at year end:
Carrying value			16,961				16,262
Fair value			16,961				16,262
Average interest rate during the year			1.80	%			1.38	%
Average interest rate at year end			1.51	%			1.44	%

Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block]

		(Dollars in thousands)
		2019				2018
Fixed rate advances, maturing June 2020 through March 2021 at rates from 2.11% to 2.76%; average rate: 2019 – 2.62%; 2018 – 2.29%		$	14,000			$	23,000

Variable rate advances, none outstanding as of year ended 2019; average rate: 2018 – 2.87%		$	-			$	20,000