Finward Bancorp Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Note 8 - Borrowed Funds (Tables)

Note 8 - Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

		(Dollars in thousands)
		December 31,				December 31,
		2024				2023
Federal Reserve Fixed rate advance with outstanding rate of 4.38%, matured March 22, 2024		$	-			$	80,000
FHLB Fixed rate advance with outstanding rate of 4.85%, maturing May 16, 2025			10,000				-
FHLB Fixed rate advance with outstanding rate of 4.77%, maturing May 19, 2025			10,000				-
FHLB Fixed rate advance with outstanding rate of 3.38%, maturing August 7, 2028 (1)			10,000				-
FHLB Fixed rate advance with outstanding rate of 3.22%, maturing August 7, 2029 (1)			10,000				-
FHLB Fixed rate advance with outstanding rate of 3.84%, maturing February 28, 2029 (1)			15,000				-
FHLB Fixed rate advance with outstanding rate of 3.74%, maturing February 28, 2029 (1)			10,000				-
Total		$	65,000			$	80,000

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

		(Dollars in thousands)
2025			20,000
2026			-
2027			-
2028			10,000
2029			35,000
Total		$	65,000

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

		(Dollars in thousands)
		2024				2023

Ending balance		$	40,116			$	38,124
Average balance during the year			41,506				35,543
Maximum month-end balance during the year			44,058				48,947
Securities underlying the agreements at year end:
Carrying value			57,833				54,458
Fair value			57,833				54,458
Average interest rate during the year			3.85	%			3.64	%
Average interest rate at year end			3.51	%			3.83	%