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)

6 Months Ended

Jun. 30, 2021

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

June 30, 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		$	87,667		Other assets		$	2,938			Other liabilties				$	2,938
Interest rate lock commitments			13,641		Other assets			246			N/A					-
Total		$	101,308				$	3,184							$	2,938

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

			Six Months Ended								Three Months Ended
(Unaudited)			June 31,								June 31,
(Dollars in thousands)	Statement of Income Classification		2021				2020				2021				2020
Interest rate swap contracts	Fees and service charges		$	218			$	231			$	231			$	231
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(128	)			298				(151	)			(220	)
Total			$	90			$	529			$	80			$	11

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
														Statement of Financial Condition
(Unaudited)						Gross Amounts Offset in				Net Amounts of Assets Presented
(Dollars in thousands)		Gross Amounts of Recognized Assets				the Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Cash Collateral Received				Net Amount
June 30, 2021
Interest rate swap contracts		$	2,938			$	-			$	2,938			$	-			$	-			$	2,938
Interest rate lock commitments			246				-				246				-				-				246
Total		$	3,184			$	-			$	3,184			$	-			$	-			$	3,184

														Gross Amounts not Offset in the
														Statement of Financial Condition
						Gross Amounts Offset in				Net Amounts of Liabilities Presented
(Dollars in thousands)		Gross Amounts of Recognized Assets				the Statement of Financial Condition				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)						Gross Amounts Offset in				Net Amounts of Liabilities Presented
(Dollars in thousands)		Gross Amounts of Recognized Liabilities				the Statement of Financial Condition				in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
June 30, 2021
Interest rate swap contracts		$	2,938			$	-			$	2,938			$	-			$	3,930			$	(992	)
Total		$	2,938			$	-			$	2,938			$	-			$	3,930			$	(992	)

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