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

Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Derivative Financial Instruments (Tables)

Note 13 - Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

March 31, 2023
		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		$	7,440			Other liabilties			$	7,440
Interest rate lock commitments		Other assets			95			N/A				-
Total				$	7,535						$	7,440

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

				Three Months Ended
(Dollars in thousands)		Statement of Income Classification		2023				2022
Interest rate swap contracts		Fees and service charges		$	(30	)		$	-
Interest rate lock commitments		Gain on sale of loans held-for-sale, net			57				25
Total				$	27			$	25

Offsetting Assets [Table Text Block]

														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 Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
March 31, 2023
Interest rate swap contracts		$	7,440			$	-			$	7,440			$	-			$	-			$	7,440
Interest rate lock commitments			95				-				95				-				-				95
Total		$	7,535			$	-			$	7,535			$	-			$	-			$	7,535

														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 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

Offsetting Liabilities [Table Text Block]

														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
March 31, 2023
Interest rate swap contracts		$	7,440			$	-			$	7,440			$	-			$	3,930			$	3,510
Total		$	7,440			$	-			$	7,440			$	-			$	3,930			$	3,510

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