| Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
Note 19 – Parent Company Only Statements
| |
|
(Dollars in thousands) |
|
| |
|
NorthWest Indiana Bancorp |
|
| |
|
Condensed Balance Sheets |
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Assets |
|
|
|
|
|
|
|
|
| Cash on deposit with Peoples Bank |
|
$ |
805 |
|
|
$ |
191 |
|
| Investment in Peoples Bank |
|
|
150,928 |
|
|
|
132,134 |
|
| Investment in NWIN Risk Management, Inc |
|
|
1,775 |
|
|
|
1,736 |
|
| Dividends receivable from Peoples Bank |
|
|
1,070 |
|
|
|
1,070 |
|
| Other assets |
|
|
420 |
|
|
|
610 |
|
| Total assets |
|
$ |
154,998 |
|
|
$ |
135,366 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities and stockholders’ equity |
|
|
|
|
|
|
|
|
| Dividends payable |
|
$ |
1,074 |
|
|
$ |
1,070 |
|
| Other liabilities |
|
|
1,002 |
|
|
|
569 |
|
| Total liabilities |
|
|
2,076 |
|
|
|
1,639 |
|
| |
|
|
|
|
|
|
|
|
| Additional paid in capital |
|
|
29,987 |
|
|
|
29,657 |
|
| Accumulated other comprehensive (loss) income |
|
|
10,441 |
|
|
|
4,261 |
|
| Retained earnings |
|
|
112,494 |
|
|
|
100,184 |
|
| Total stockholders’ equity |
|
|
152,922 |
|
|
|
133,727 |
|
| Total liabilities and stockholders’ equity |
|
$ |
154,998 |
|
|
$ |
135,366 |
|
| |
|
(Dollars in thousands) |
|
| |
|
NorthWest Indiana Bancorp |
|
| |
|
Condensed Statements of Income |
|
| |
|
Year Ended December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
|
|
| Dividends from Peoples Bank |
|
$ |
3,395 |
|
|
$ |
19,388 |
|
| Operating expenses |
|
|
414 |
|
|
|
486 |
|
| Income before income taxes and equity in undistributed income of Peoples Bank |
|
|
2,981 |
|
|
|
18,902 |
|
| Income tax benefit |
|
|
(86 |
) |
|
|
(101 |
) |
| Income before equity in undistributed income of Peoples Bank |
|
|
3,067 |
|
|
|
19,003 |
|
| Equity in undistributed (distributions in excess of income) income of Peoples Bank |
|
|
12,614 |
|
|
|
(7,889 |
) |
| income of NWIN Risk Management, Inc |
|
|
923 |
|
|
|
983 |
|
| Net income |
|
$ |
16,604 |
|
|
$ |
12,097 |
|
| |
|
(Dollars in thousands) |
|
| |
|
NorthWest Indiana Bancorp |
|
| |
|
Condensed Statements of Cash Flows |
|
| |
|
Year Ended December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
|
|
| Cash flows from operating activities: |
|
|
|
|
|
|
|
|
| Net income |
|
$ |
16,604 |
|
|
$ |
12,097 |
|
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
|
|
|
|
|
|
| Distributions in excess of income (equity in undistributed income): |
|
|
|
|
|
|
|
|
| Peoples Bank |
|
|
(12,614 |
) |
|
|
7,889 |
|
| NWIN Risk Management, Inc |
|
|
(923 |
) |
|
|
(983 |
) |
| Stock based compensation expense |
|
|
415 |
|
|
|
301 |
|
| Net surrender value of restricted stock awards |
|
|
(85 |
) |
|
|
(63 |
) |
| Change in other assets |
|
|
190 |
|
|
|
(94 |
) |
| Change in other liabilities |
|
|
433 |
|
|
|
(259 |
) |
| Total adjustments |
|
|
(12,584 |
) |
|
|
6,791 |
|
| Net cash - operating activities |
|
|
4,020 |
|
|
|
18,888 |
|
| |
|
|
|
|
|
|
|
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Cash paid for acquisition |
|
|
- |
|
|
|
(15,743 |
) |
| |
|
|
|
|
|
|
|
|
| Investment in Peoples Bank |
|
|
- |
|
|
|
(1,500 |
) |
| Distribution from NWIN Risk Management, Inc |
|
|
885 |
|
|
|
1,750 |
|
| Net cash - investing activities |
|
|
885 |
|
|
|
(15,493 |
) |
| |
|
|
|
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
| Dividends paid |
|
|
(4,291 |
) |
|
|
(4,085 |
) |
| Proceeds from issuance of common stock |
|
|
- |
|
|
|
- |
|
| Net cash - financing activities |
|
|
(4,291 |
) |
|
|
(4,085 |
) |
| Net change in cash |
|
|
614 |
|
|
|
(690 |
) |
| Cash at beginning of year |
|
|
191 |
|
|
|
881 |
|
| Cash at end of year |
|
$ |
805 |
|
|
$ |
191 |
|
|