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

Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Derivative Financial Instruments (Tables)

Note 12 - Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

March 31, 2022
					Asset derivatives						Liability derivatives
(Dollars in thousands)		Notational or contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	93,890		Other assets		$	4,990			Other liabilties				$	4,990
Interest rate lock commitments			8,738		Other assets			166				N/A				-
Total		$	102,628				$	5,156							$	4,990

December 31, 2021
					Asset derivatives						Liability derivatives
(Dollars in thousands)		Notational or contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	94,154		Other assets		$	2,686			Other liabilties				$	2,686
Interest rate lock commitments			7,837		Other assets			141				N/A				-
Total		$	101,991				$	2,827							$	2,686

			Three Months Ended
			March 31,
(Dollars in thousands)	Statement of Income Classification		2022				2021
Interest rate swap contracts	Fees and service charges		$	-			$	(13	)
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			25				23
Total			$	25			$	10

Offsetting Assets [Table Text Block]

		Gross Amounts of				Gross Amounts Offset in the Statement of				Net Amounts of Assets Presented in the Statement				Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Recognized Assets				Financial Condition				of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
March 31, 2022
Interest rate swap contracts		$	4,990			$	-			$	4,990			$	-			$	-			$	4,990
Interest rate lock commitments			166				-				166				-				-				166
Total		$	5,156			$	-			$	5,156			$	-			$	-			$	5,156

		Gross Amounts of				Gross Amounts Offset in the Statement of				Net Amounts of Liabilities Presented in the Statement				Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Recognized Liabilities				Financial Condition				of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
December 31, 2021
Interest rate swap contracts		$	2,686			$	-			$	2,686			$	-			$	-			$	2,686
Interest rate lock commitments			141				-				141				-				-				141
Total		$	2,827			$	-			$	2,827			$	-			$	-			$	2,827

Offsetting Liabilities [Table Text Block]

		Gross Amounts of				Gross Amounts Offset in the Statement of				Net Amounts of Liabilities Presented in the Statement of				Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Recognized Liabilities				Financial Condition				Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
March 31, 2022
Interest rate swap contracts		$	4,990			$	-			$	4,990			$	-			$	3,930			$	1,060
Total		$	4,990			$	-			$	4,990			$	-			$	3,930			$	1,060

		Gross Amounts of				Gross Amounts Offset in the Statement of				Net Amounts of Liabilities Presented in the Statement of				Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Recognized Liabilities				Financial Condition				Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
December 31, 2021
Interest rate swap contracts		$	2,686			$	-			$	2,686			$	-			$	3,930			$	(1,244	)
Total		$	2,686			$	-			$	2,686			$	-			$	3,930			$	(1,244	)