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

Annual report pursuant to Section 13 and 15(d)

Note 17 - Derivative Financial Instruments (Tables)

Note 17 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

December 31, 2020
		Notational or			Asset derivatives						Liability derivatives
(Dollars in thousands)		contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	72,707		Other assets		$	3,638			Other liabilties				$	3,638
Interest rate lock commitments			26,443		Other assets			374				N/A				-
Total		$	99,150				$	4,012							$	3,638

December 31, 2019
		Notational or			Asset derivatives						Liability derivatives
(Dollars in thousands)		contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	29,466		Other assets		$	1,358			Other liabilties				$	1,358
Interest rate lock commitments			12,822		Other assets			186				N/A				-
Total		$	42,288				$	1,544							$	1,358

			Year-ended
(Dollars in thousands)	Statement of Income Classification		2020				2019
Interest rate swap contracts	Fees and service charges		$	800			$	371
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			187				186
Total			$	987			$	557

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Assets Presented								Cash Collateral
(Dollars in thousands)		Recognized Assets				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Received				Net Amount
December 31, 2020
Interest rate swap contracts		$	3,638			$	-			$	3,638			$	-			$	-			$	3,638
Interest rate lock commitments			374				-				374				-				-				374
Total		$	4,012			$	-			$	4,012			$	-			$	-			$	4,012

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented								Cash Collateral
(Dollars in thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Received				Net Amount
December 31, 2019
Interest rate swap contracts		$	1,358			$	-			$	1,358			$	-			$	-			$	1,358
Interest rate lock commitments			186				-				186				-				-				186
Total		$	1,544			$	-			$	1,544			$	-			$	-			$	1,544

Offsetting Liabilities [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented								Cash Collateral
(Dollars in thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Pledged				Net Amount
December 31, 2020
Interest rate swap contracts		$	3,638			$	-			$	3,638			$	-			$	3,930			$	(292	)
Total		$	3,638			$	-			$	3,638			$	-			$	3,930			$	(292	)

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented								Cash Collateral
(Dollars in thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Pledged				Net Amount
December 31, 2019
Interest rate swap contracts		$	1,358			$	-			$	1,358			$	-			$	2,290			$	(932	)
Total		$	1,358			$	-			$	1,358			$	-			$	2,290			$	(932	)