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

Parent Company Only Statements (Tables)

12 Months Ended

Dec. 31, 2016

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Balance Sheets
	December 31,
	2016		2015
Assets
Cash on deposit with Peoples Bank	$	57	$	741
Investment in Peoples Bank		82,875		80,551
Investment in NWIN Risk Management, Inc.		775		-
Dividends receivable from Peoples Bank		800		770
Other assets		775		150
Total assets	$	85,282	$	82,212

Liabilities and stockholders’ equity
Dividends payable	$	800	$	770
Other liabilities		374		533
Total liabilities		1,174		1,303

Common stock		361		361
Additional paid in capital		4,300		4,158
Accumulated other comprehensive income		(1,506)		1,406
Retained earnings		80,953		74,984
Total stockholders’ equity		84,108		80,909
Total liabilities and stockholders’ equity	$	85,282	$	82,212

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Income
	Year Ended December 31,
	2016			2015

Dividends from Peoples Bank	$	3,520		$	3,021
Operating expenses		194			151
Income before income taxes and equity in undistributed income of Peoples Bank		3,326			2,870
Income tax benefit		(54	)		(29	)
Income before equity in undistributed income of Peoples Bank		3,380			2,899
Equity in undistributed
Income of Peoples Bank		5,237			4,953
Income of NWIN Risk Management, Inc.		525			-
Net income	$	9,142		$	7,852

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Cash Flows
	Year Ended December 31,
	2016		2015

Cash flows from operating activities:
Net income	$	9,142	$	7,852
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed net income of:
Peoples Bank		(5,237)		(4,953)
NWIN Risk Management, Inc.		(525)		-
Stock based compensation expense		142		96
Change in other assets		(654)		104
Change in other liabilities		(159)		461
Total adjustments		(6,433)		(4,292)
Net cash - operating activities		2,709		3,560

Cash flows from investing activities:
Investment in NWIN Risk Management, Inc.		(250)		-
Net cash - investing activities		(250)		-

Cash flows from financing activities:
Dividends paid		(3,143)		(2,962)
Net cash - financing activities		(3,143)		(2,962)
Net change in cash		(684)		598
Cash at beginning of year		741		143
Cash at end of year	$	57	$	741