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

Parent Company Only Statements (Tables)

12 Months Ended

Dec. 31, 2015

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Balance Sheets
	December 31,
	2015		2014
Assets
Cash on deposit with Peoples Bank	$	741	$	143
Investment in Peoples Bank		80,551		75,781
Dividends receivable from Peoples Bank		770		711
Other assets		150		313
Total assets	$	82,212	$	76,948

Liabilities and stockholders’ equity
Dividends payable	$	770	$	711
Other liabilities		533		72
Total liabilities		1,303		783

Common stock		361		361
Additional paid in capital		4,158		4,062
Accumulated other comprehensive income		1,406		1,588
Retained earnings		74,984		70,154
Total stockholders’ equity		80,909		76,165
Total liabilities and stockholders’ equity	$	82,212	$	76,948

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Income
	Year Ended December 31,
	2015			2014

Dividends from Peoples Bank	$	3,021		$	2,759
Operating expenses		151			154
Income before income taxes and equity in undistributed income of Peoples Bank		2,870			2,605
Income tax benefit		(29	)		(49	)
Income before equity in undistributed income of Peoples Bank		2,899			2,654
Equity in undistributed income of Peoples Bank		4,953			4,740
Net income	$	7,852		$	7,394

	(Dollars in thousands)
	NorthWest Indiana Bancorp
	Condensed Statements of Cash Flows
	Year Ended December 31,
	2015			2014

Cash flows from operating activities:
Net income	$	7,852		$	7,394
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed net income of Peoples Bank		(4,953	)		(4,740	)
Stock based compensation expense		96			61
Change in other assets		104			198
Change in other liabilities		461			(208	)
Total adjustments		(4,292	)		(4,689	)
Net cash - operating activities		3,560			2,705

Cash flows from investing activities		-			-

Cash flows from financing activities:
Dividends paid		(2,962	)		(2,673	)
Treasury stock purchased		-			(31	)
Net cash - financing activities		(2,962	)		(2,704	)
Net change in cash		598			1
Cash at beginning of year		143			142
Cash at end of year	$	741		$	143