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

Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Derivative Financial Instruments (Tables)

Note 11 - Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Derivatives Not Designated as Hedging Instruments [Table Text Block]

September 30, 2024
	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		$	4,767			Other liabilities				$	4,767
Interest rate lock commitments	Other assets			101			N/A					-
Total			$	4,868							$	4,767

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

			Nine Months Ended
(Dollars in thousands)	Statement of Income Classification		2024				2023
Interest rate swap contracts	Fees and service charges		$	149			$	328
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			66				12
Total			$	215			$	340

			Quarter Ended
(Dollars in thousands)	Statement of Income Classification		2024				2023
Interest rate swap contracts	Fees and service charges		$	179			$	(37	)
Interest rate lock commitments	Gain on sale of loans held-for-sale, net			65				(36	)
Total			$	244			$	(73	)

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, 2024
Interest rate swap contracts		$	4,767			$	-			$	4,767			$	-			$	2,300			$	2,467
Interest rate lock commitments			101				-				101				-				-				101
Total		$	4,868			$	-			$	4,868			$	-			$	2,300			$	2,568

														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 Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral 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

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 Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
September 30, 2024
Interest rate swap contracts		$	4,767			$	-			$	4,767			$	-			$	-			$	4,767
Total		$	4,767			$	-			$	4,767			$	-			$	-			$	4,767

														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 Assets Presented in the Statement of Financial Condition				Financial Instruments				Cash Collateral Pledged				Net Amount
December 31, 2023
Interest rate swap contracts		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591
Total		$	5,591			$	-			$	5,591			$	-			$	-			$	5,591