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

Annual report pursuant to Section 13 and 15(d)

Note 16 - Derivative Financial Instruments (Tables)

Note 16 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

December 31, 2023
	Asset derivatives						Liability derivatives
(Dollars in thousands)	Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts	Other assets		$	5,591			Other liabilities				$	5,591
Interest rate lock commitments	Other assets			35			N/A					-
Total			$	5,626							$	5,591

December 31, 2022
	Asset derivatives						Liability derivatives
(Dollars in thousands)	Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts	Other assets		$	8,972			Other liabilities				$	8,972
Interest rate lock commitments	Other assets			38			N/A					-
Total			$	9,010							$	8,972

			Year-ended
(Dollars in thousands)	Statement of Income Classification		2023				2022
Interest rate swap contracts	Fees and service charges		$	387			$	267
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(3	)			(103	)
Total			$	384			$	164

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Assets Presented								Cash Collateral
(Dollars in thousands)		Recognized Assets				Statement of Financial Condition				in the Statement of Financial Condition				Financial 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

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented								Cash Collateral
(Dollars in thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Received				Net Amount
December 31, 2022
Interest rate swap contracts		$	8,972			$	-			$	8,972			$	-			$	-			$	8,972
Interest rate lock commitments			38				-				38				-				-				38
Total		$	9,010			$	-			$	9,010			$	-			$	-			$	9,010

Offsetting Liabilities [Table Text Block]

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

														Gross Amounts not Offset in the
														Statement of Financial Condition
		Gross Amounts of				Gross Amounts Offset in the				Net Amounts of Liabilities Presented								Cash Collateral
(Dollars in thousands)		Recognized Liabilities				Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Pledged				Net Amount
December 31, 2022
Interest rate swap contracts		$	8,972			$	-			$	8,972			$	-			$	3,930			$	5,042
Total		$	8,972			$	-			$	8,972			$	-			$	3,930			$	5,042