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

Annual report pursuant to Section 13 and 15(d)

Note 9 - Borrowed Funds (Tables)

Note 9 - Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Federal Home Loan Bank Advances Borrowed Funds [Table Text Block]

		(Dollars in thousands)
		December 31,				December 31,
		2023				2022
Fixed rate advances from the Federal Reserve with outstanding rates of 4.38% as of December 31, 2023		$	80,000			$	-
Fixed rate advances from the FHLB with outstanding rates of 4.30% as of December 31, 2022		$	-			$	120,000
Total		$	80,000			$	120,000

Schedule of Federal Home Loan Bank Advances Activity for Year [Table Text Block]

		(Dollars in thousands)
		2023				2022

Ending balance		$	38,124			$	15,503

Average balance during the year			35,543				20,649

Maximum month-end balance during the year			48,947				28,328
Securities underlying the agreements at year end:
Carrying value			54,458				32,660
Fair value			54,458				32,660
Average interest rate during the year			4.00	%			0.94	%
Average interest rate at year end			5.14	%			2.43	%