Finward Bancorp Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Derivative Financial Instruments (Tables)

Note 12 - Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

March 31, 2021
(Unaudited)		Notational or contractual			Asset derivatives						Liability derivatives
(Dollars in thousands)		amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	72,151		Other assets		$	3,391			Other liabilties				$	3,391
Interest rate lock commitments			21,987		Other assets			397				N/A				-
Total		$	94,138				$	3,788							$	3,391

December 31, 2020
		Notational or contractual			Asset derivatives						Liability derivatives
(Dollars in thousands)		amount			Statement of Financial Condition classification		Fair value				Statement of Financial Condition classification				Fair value
Interest rate swap contracts		$	72,707		Other assets		$	3,638			Other liabilties				$	3,638
Interest rate lock commitments			26,443		Other assets			374				N/A				-
Total		$	99,150				$	4,012							$	3,638

			Three Months Ended
(Unaudited)			March 31,
(Dollars in thousands)	Statement of Income Classification		2021				2020
Interest rate swap contracts	Fees and service charges		$	(13	)		$	-
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			23				518
Total			$	10			$	518

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
(Unaudited)														Statement of Financial Condition
(Dollars in thousands)		Gross Amounts of Recognized Assets				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
March 31, 2021
Interest rate swap contracts		$	3,391			$	-			$	3,391			$	-			$	-			$	3,391
Interest rate lock commitments			397				-				397				-				-				397
Total		$	3,788			$	-			$	3,788			$	-			$	-			$	3,788

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in thousands)		Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
December 31, 2020
Interest rate swap contracts		$	3,638			$	-			$	3,638			$	-			$	-			$	3,638
Interest rate lock commitments			374				-				374				-				-				374
Total		$	4,012			$	-			$	4,012			$	-			$	-			$	4,012

Offsetting Liabilities [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Unaudited) (Dollars in thousands)		Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
March 31, 2021
Interest rate swap contracts		$	3,391			$	-			$	3,391			$	-			$	3,930			$	(539	)
Total		$	3,391			$	-			$	3,391			$	-			$	3,930			$	(539	)

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Dollars in thousands)		Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Statement of Financial Condition				Net Amounts of Liabilities Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
December 31, 2020
Interest rate swap contracts		$	3,638			$	-			$	3,638			$	-			$	3,930			$	(292	)
Total		$	3,638			$	-			$	3,638			$	-			$	3,930			$	(292	)