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)

9 Months Ended

Sep. 30, 2021

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

September 30, 2021
(Unaudited)		Notational or			Asset derivatives						Liability derivatives
		contractual			Statement of Financial Condition						Statement of Financial Condition
(Dollars in thousands)		amount			classification		Fair value				classification				Fair value
Interest rate swap contracts		$	98,855		Other assets		$	2,945			Other liabilties				$	2,945
Interest rate lock commitments			12,342		Other assets			222				N/A				-
Total		$	111,197				$	3,167							$	2,945

December 31, 2020
		Notational or			Asset derivatives						Liability derivatives
		contractual			Statement of Financial Condition						Statement of Financial Condition
(Dollars in thousands)		amount			classification		Fair value				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

			Nine Months Ended								Three Months Ended
(Unaudited)			September 30,								September 30,
(Dollars in thousands)	Statement of Income Classification		2021				2020				2021				2020
Interest rate swap contracts	Fees and service charges		$	379			$	512			$	161			$	281
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(152	)			309				(24	)			11
Total			$	227			$	821			$	137			$	292

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the Statement of Financial Condition
(Unaudited) (Dollars in thousands)		Gross Amounts of Recognized Assets				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
September 30, 2021
Interest rate swap contracts		$	2,945			$	-			$	2,945			$	-			$	-			$	2,945
Interest rate lock commitments			222				-				222				-				-				222
Total		$	3,167			$	-			$	3,167			$	-			$	-			$	3,167

														Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Gross Amounts of Recognized Assets				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral 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

Offsetting Liabilities [Table Text Block]

														Gross Amounts not Offset in the Statement of Financial Condition
(Unaudited) (Dollars in thousands)		Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
September 30, 2021
Interest rate swap contracts		$	2,945			$	-			$	2,945			$	-			$	3,930			$	(985	)
Total		$	2,945			$	-			$	2,945			$	-			$	3,930			$	(985	)

														Gross Amounts not Offset in the Statement of Financial Condition
(Dollars in thousands)		Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral 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	)