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

Annual report pursuant to Section 13 and 15(d)

Note 16 - Derivative Financial Instruments (Tables)

Note 16 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

December 31, 2022
	Asset derivatives						Liability derivatives
(Dollars in thousands)	Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts	Other assets		$	8,972			Other liabilties				$	8,972
Interest rate lock commitments	Other assets			38				N/A				-
Total			$	9,010							$	8,972

December 31, 2021
	Asset derivatives						Liability derivatives
(Dollars in thousands)	Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts	Other assets		$	2,686			Other liabilties				$	2,686
Interest rate lock commitments	Other assets			141				N/A				-
Total			$	2,827							$	2,686

			Year-ended
(Dollars in thousands)	Statement of Income Classification		2022				2021
Interest rate swap contracts	Fees and service charges		$	267			$	379
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(103	)			(233	)
Total			$	164			$	146

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, 2022
Interest rate swap contracts	$	8,972		$	-		$	8,972		$	-		$	-		$	8,972
Interest rate lock commitments		38			-			38			-			-			38
Total	$	9,010		$	-		$	9,010		$	-		$	-		$	9,010

										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, 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 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, 2022
Interest rate swap contracts	$	8,972		$	-		$	8,972		$	-		$	3,930		$	5,042
Total	$	8,972		$	-		$	8,972		$	-		$	3,930		$	5,042

										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, 2021
Interest rate swap contracts	$	2,686		$	-		$	2,686		$	-		$	3,930		$	(1,244	)
Total	$	2,686		$	-		$	2,686		$	-		$	3,930		$	(1,244	)