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

Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Derivative Financial Instruments (Tables)

Note 13 - Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

September 30, 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		$	9,834			Other liabilties				$	9,834
Interest rate lock commitments	Other assets			51				N/A				-
Total			$	9,885							$	9,834

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 liabilties				$	8,972
Interest rate lock commitments	Other assets			38				N/A				-
Total			$	9,010							$	8,972

			Three Months Ended
			September 30,
(Dollars in thousands)	Statement of Income Classification		2023				2022
Interest rate swap contracts	Fees and service charges		$	(37	)		$	3
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			(36	)			(42	)
Total			$	(73	)		$	(39	)

			Nine Months Ended
			September 30,
(Dollars in thousands)	Statement of Income Classification		2023				2022
Interest rate swap contracts	Fees and service charges		$	328			$	3
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			12				(110	)
Total			$	340			$	(107	)

Offsetting Assets [Table Text Block]

														Gross Amounts not Offset in the
														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
September 30, 2023
Interest rate swap contracts		$	9,834			$	-			$	9,834			$	-			$	5,470			$	4,364
Interest rate lock commitments			51				-				51				-				-				51
Total		$	9,885			$	-			$	9,885			$	-			$	5,470			$	4,415

														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, 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
(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
September 30, 2023
Interest rate swap contracts		$	9,834			$	-			$	9,834			$	-			$	-			$	9,834
Total		$	9,834			$	-			$	9,834			$	-			$	-			$	9,834

														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, 2022
Interest rate swap contracts		$	8,972			$	-			$	8,972			$	-			$	3,930			$	5,042
Total		$	8,972			$	-			$	8,972			$	-			$	3,930			$	5,042