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

Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Derivative Financial Instruments (Tables)

Note 11 - Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

March 31, 2024
	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		$	5,810			Other liabilities				$	5,810
Interest rate lock commitments	Other assets			43			N/A					-
Total			$	5,853							$	5,810

December 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		$	5,591			Other liabilities				$	5,591
Interest rate lock commitments	Other assets			35			N/A					-
Total			$	5,626							$	5,591

			Quarter Ended
(Dollars in thousands)	Statement of Income Classification		2024				2023
Interest rate swap contracts	Fees and service charges		$	(30	)		$	59
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			8				(16	)
Total			$	(22	)		$	43

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
March 31, 2024
Interest rate swap contracts		$	5,810			$	-			$	5,810			$	-			$	5,410			$	400
Interest rate lock commitments			43				-				43				-				-				43
Total		$	5,853			$	-			$	5,853			$	-			$	5,410			$	443

														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, 2023
Interest rate swap contracts		$	5,626			$	-			$	5,626			$	-			$	4,050			$	1,576
Interest rate lock commitments			-				-				-				-				-				-
Total		$	5,626			$	-			$	5,626			$	-			$	4,050			$	1,576

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
March 31, 2024
Interest rate swap contracts		$	5,810			$	-			$	5,810			$	-			$	-			$	5,810
Total		$	5,810			$	-			$	5,810			$	-			$	-			$	5,810

														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, 2023
Interest rate swap contracts		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591
Total		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591