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)

6 Months Ended

Jun. 30, 2023

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

June 30, 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		$	8,492			Other liabilties				$	8,492
Interest rate lock commitments	Other assets			87				N/A				-
Total			$	8,579							$	8,492

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

			Six Months Ended
			June 30,
(Dollars in thousands)	Statement of Income Classification		2023				2022
Interest rate swap contracts	Fees and service charges		$	365			$	-
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			48				(68	)
Total			$	413			$	(68	)

			Three Months Ended
			June 30,
(Dollars in thousands)	Statement of Income Classification		2023				2022
Interest rate swap contracts	Fees and service charges		$	395			$	-
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(9	)			(93	)
Total			$	386			$	(93	)

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
June 30, 2023
Interest rate swap contracts		$	8,492			$	-			$	8,492			$	-			$	5,470			$	3,022
Interest rate lock commitments			87				-				87				-				-				87
Total		$	8,579			$	-			$	8,579			$	-			$	5,470			$	3,109

														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, 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
		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
June 30, 2023
Interest rate swap contracts		$	8,492			$	-			$	8,492			$	-			$	-			$	8,492
Total		$	8,492			$	-			$	8,492			$	-			$	-			$	8,492

														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