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 15 - Derivative Financial Instruments (Tables)

Note 15 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

December 31, 2024
		Notational or			Asset derivatives						Liability derivatives
(Dollars in thousands)		contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	89,964		Other assets		$	5,486			Other liabilities				$	5,486
Interest rate lock commitments			1,426		Other assets			24			N/A					-
Total		$	91,390				$	5,510							$	5,486

December 31, 2023
		Notational or			Asset derivatives						Liability derivatives
(Dollars in thousands)		contractual amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	86,995		Other assets		$	5,591			Other liabilities				$	5,591
Interest rate lock commitments			2,071		Other assets			35			N/A					-
Total		$	89,066				$	5,626							$	5,591

			For the year ended
(Dollars in thousands)	Statement of Income Classification		2024				2023
Interest rate swap contracts	Fees and service charges		$	276			$	387
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			47				(3	)
Total			$	323			$	384

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Assets Presented				Financial				Cash Collateral
thousands)		Recognized Assets				Statement of Financial Condition				in the Statement of Financial Condition				Instruments				Received				Net Amount
December 31, 2024
Interest rate swap contracts		$	5,486			$	-			$	5,486			$	-			$	5,120			$	366
Interest rate lock commitments			82				-				82				-				-				82
Total		$	5,568			$	-			$	5,568			$	-			$	5,120			$	448

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented				Financial				Cash Collateral
thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Instruments				Received				Net Amount
December 31, 2023
Interest rate swap contracts		$	5,591			$	-			$	5,591			$	-			$	4,050			$	1,541
Interest rate lock commitments			35				-				35				-				-				35
Total		$	5,626			$	-			$	5,626			$	-			$	4,050			$	1,576

Offsetting Liabilities [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented				Financial				Cash Collateral
thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Instruments				Pledged				Net Amount
December 31, 2024
Interest rate swap contracts		$	5,486			$	-			$	5,486			$	-			$	-			$	5,486
Total		$	5,486			$	-			$	5,486			$	-			$	-			$	5,486

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented				Financial				Cash Collateral
thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Instruments				Pledged				Net Amount
December 31, 2023
Interest rate swap contracts		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591
Total		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591