Annual report pursuant to Section 13 and 15(d)

Note 19 - Parent Company Only Statements (Tables)

v3.20.1
Note 19 - Parent Company Only Statements (Tables)
12 Months Ended
Dec. 31, 2019
Notes Tables  
Condensed Balance Sheet [Table Text Block]
   
(Dollars in thousands)
 
   
NorthWest Indiana Bancorp
 
   
Condensed Balance Sheets
 
   
December 31,
   
December 31,
 
   
2019
   
2018
 
Assets
               
Cash on deposit with Peoples Bank
  $
191
    $
881
 
Investment in Peoples Bank
   
132,134
     
98,606
 
Investment in NWIN Risk Management, Inc
   
1,736
     
2,503
 
Dividends receivable from Peoples Bank
   
1,070
     
909
 
Other assets
   
235
     
302
 
Total assets
  $
135,366
    $
103,201
 
                 
Liabilities and stockholders’ equity
               
Dividends payable
  $
1,070
    $
909
 
Other liabilities
   
569
     
828
 
Total liabilities
   
1,639
     
1,737
 
                 
Additional paid in capital
   
29,657
     
11,927
 
Accumulated other comprehensive (loss) income
   
4,261
     
(2,796
)
Retained earnings
   
99,809
     
92,333
 
Total stockholders’ equity
   
133,727
     
101,464
 
Total liabilities and stockholders’ equity
  $
135,366
    $
103,201
 
Condensed Income Statement [Table Text Block]
   
(Dollars in thousands)
 
   
NorthWest Indiana Bancorp
 
   
Condensed Statements of Income
 
   
Year Ended December 31,
 
   
2019
   
2018
 
                 
Dividends from Peoples Bank
  $
19,388
    $
12,330
 
Operating expenses
   
486
     
477
 
Income before income taxes and equity in undistributed income of Peoples Bank
   
18,902
     
11,853
 
Income tax benefit
   
(101
)    
(98
)
Income before equity in undistributed income of Peoples Bank
   
19,003
     
11,951
 
Equity in undistributed (distributions in excess of income) income of Peoples Bank
   
(7,889
)    
(3,443
)
income of NWIN Risk Management, Inc
   
983
     
829
 
Net income
  $
12,097
    $
9,337
 
Condensed Cash Flow Statement [Table Text Block]
   
(Dollars in thousands)
 
   
NorthWest Indiana Bancorp
 
   
Condensed Statements of Cash Flows
 
   
Year Ended December 31,
 
   
2019
   
2018
 
                 
Cash flows from operating activities:
               
Net income
  $
12,097
    $
9,337
 
Adjustments to reconcile net income to net cash provided by operating activities
               
Distributions in excess of income (equity in undistributed income):
               
Peoples Bank
   
7,889
     
3,443
 
NWIN Risk Management, Inc
   
(983
)    
(829
)
Stock based compensation expense
   
301
     
204
 
Net surrender value of restricted stock awards
   
(63
)    
(72
)
Change in other assets
   
(94
)    
519
 
Change in other liabilities
   
(259
)    
275
 
Total adjustments
   
6,791
     
3,540
 
Net cash - operating activities
   
18,888
     
12,877
 
                 
Cash flows from investing activities:
               
Cash paid for acquisition
   
(15,743
)    
(8,689
)
                 
Investment in Peoples Bank
   
(1,500
)    
-
 
Distribution from NWIN Risk Management, Inc
   
1,750
     
-
 
Net cash - investing activities
   
(15,493
)    
(8,689
)
                 
Cash flows from financing activities:
               
Dividends paid
   
(4,085
)    
(3,432
)
Proceeds from issuance of common stock
   
-
     
-
 
Net cash - financing activities
   
(4,085
)    
(3,432
)
Net change in cash
   
(690
)    
756
 
Cash at beginning of year
   
881
     
125
 
Cash at end of year
  $
191
    $
881