Annual report pursuant to Section 13 and 15(d)

Parent Company Only Statements

v2.4.0.6
Parent Company Only Statements
 12 Months Ended
Dec. 31, 2012
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 16 – Parent Company Only Statements

 

    (Dollars in thousands)  
    NorthWest Indiana Bancorp  
    Condensed Balance Sheets  
    December 31,  
    2012     2011  
Assets                
Cash on deposit with Peoples Bank   $ 1     $ 1,191  
Investment in Peoples Bank     67,321       62,601  
Dividends receivable from Peoples Bank     539       425  
Other assets     405       127  
Total assets   $ 68,266     $ 64,344  
                 
Liabilities and stockholders’ equity                
Dividends payable   $ 539     $ 425  
Other liabilities     76       959  
Total liabilities     615       1,384  
                 
Common stock     361       361  
Additional paid in capital     5,189       5,173  
Accumulated other comprehensive income     2,339       2,536  
Retained earnings     60,817       56,032  
Treasury stock     (1,055 )     (1,142 )
Total stockholders’ equity     67,651       62,960  
Total liabilities and stockholders’ equity   $ 68,266     $ 64,344  

 

    (Dollars in thousands)  
    NorthWest Indiana Bancorp  
    Condensed Statements of Income  
    Year Ended December 31,  
    2012     2011  
             
Dividends from Peoples Bank   $ 2,044     $ 1,699  
Operating expenses     162       204  
Income before income taxes and equity in undistributed income of Peoples Bank     1,882       1,495  
Income tax benefit     (52 )     (69 )
Income before equity in undistributed income of Peoples Bank     1,934       1,564  
Equity in undistributed income of Peoples Bank     4,919       3,821  
Net income   $ 6,853     $ 5,385  

 

    (Dollars in thousands)  
    NorthWest Indiana Bancorp  
    Condensed Statements of Cash Flows  
    Year Ended December 31,  
    2012     2011  
             
Cash flows from operating activities:                
Net income   $ 6,853     $ 5,385  
Adjustments to reconcile net income to                
net cash provided by operating activities                
Equity in undistributed net income of Peoples Bank     (5,071 )     (4,139 )
Deferred tax expense/(benefit)     152       318  
Stock based compensation expense     16       33  
Change in other assets     (392 )     (23 )
Change in other liabilities     (883 )     99  
Total adjustments     (6,178 )     (3,712 )
Net cash - operating activities     675       1,673  
                 
Cash flows from investing activities     -       -  
                 
Cash flows from financing activities:                
Dividends paid     (1,928 )     (1,699 )
Treasury stock purchased     (78 )     -  
Proceeds from sale of treasury stock     141       124  
Net cash - financing activities     (1,865 )     (1,575 )
Net change in cash     (1,190 )     98  
Cash at beginning of year     1,191       1,093  
Cash at end of year   $ 1     $ 1,191