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

Note 19 - Parent Company Only Statements (Tables)

12 Months Ended

Dec. 31, 2019

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Balance Sheets
	December 31,		December 31,
	2019		2018
Assets
Cash on deposit with Peoples Bank	$	191	$	881
Investment in Peoples Bank		132,134		98,606
Investment in NWIN Risk Management, Inc		1,736		2,503
Dividends receivable from Peoples Bank		1,070		909
Other assets		235		302
Total assets	$	135,366	$	103,201

Liabilities and stockholders’ equity
Dividends payable	$	1,070	$	909
Other liabilities		569		828
Total liabilities		1,639		1,737

Additional paid in capital		29,657		11,927
Accumulated other comprehensive (loss) income		4,261		(2,796	)
Retained earnings		99,809		92,333
Total stockholders’ equity		133,727		101,464
Total liabilities and stockholders’ equity	$	135,366	$	103,201

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Income
	Year Ended December 31,
	2019			2018

Dividends from Peoples Bank	$	19,388		$	12,330
Operating expenses		486			477
Income before income taxes and equity in undistributed income of Peoples Bank		18,902			11,853
Income tax benefit		(101	)		(98	)
Income before equity in undistributed income of Peoples Bank		19,003			11,951
Equity in undistributed (distributions in excess of income) income of Peoples Bank		(7,889	)		(3,443	)
income of NWIN Risk Management, Inc		983			829
Net income	$	12,097		$	9,337

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Cash Flows
	Year Ended December 31,
	2019			2018

Cash flows from operating activities:
Net income	$	12,097		$	9,337
Adjustments to reconcile net income to net cash provided by operating activities
Distributions in excess of income (equity in undistributed income):
Peoples Bank		7,889			3,443
NWIN Risk Management, Inc		(983	)		(829	)
Stock based compensation expense		301			204
Net surrender value of restricted stock awards		(63	)		(72	)
Change in other assets		(94	)		519
Change in other liabilities		(259	)		275
Total adjustments		6,791			3,540
Net cash - operating activities		18,888			12,877

Cash flows from investing activities:
Cash paid for acquisition		(15,743	)		(8,689	)

Investment in Peoples Bank		(1,500	)		-
Distribution from NWIN Risk Management, Inc		1,750			-
Net cash - investing activities		(15,493	)		(8,689	)

Cash flows from financing activities:
Dividends paid		(4,085	)		(3,432	)
Proceeds from issuance of common stock		-			-
Net cash - financing activities		(4,085	)		(3,432	)
Net change in cash		(690	)		756
Cash at beginning of year		881			125
Cash at end of year	$	191		$	881