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Note 19 - Parent Company Only Statements

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 19 – Parent Company Only Statements

		(Dollars in thousands)
		NorthWest Indiana Bancorp
		Condensed Balance Sheets
		December 31,				December 31,
		2020				2019
Assets
Cash on deposit with Peoples Bank		$	805			$	191
Investment in Peoples Bank			150,928				132,134
Investment in NWIN Risk Management, Inc			1,775				1,736
Dividends receivable from Peoples Bank			1,070				1,070
Other assets			420				610
Total assets		$	154,998			$	135,366
Liabilities and stockholders’ equity
Dividends payable		$	1,074			$	1,070
Other liabilities			1,002				569
Total liabilities			2,076				1,639
Additional paid in capital			29,987				29,657
Accumulated other comprehensive (loss) income			10,441				4,261
Retained earnings			112,494				100,184
Total stockholders’ equity			152,922				133,727
Total liabilities and stockholders’ equity		$	154,998			$	135,366

		(Dollars in thousands)
		NorthWest Indiana Bancorp
		Condensed Statements of Income
		Year Ended December 31,
		2020				2019
Dividends from Peoples Bank		$	3,395			$	19,388
Operating expenses			414				486
Income before income taxes and equity in undistributed income of Peoples Bank			2,981				18,902
Income tax benefit			(86	)			(101	)
Income before equity in undistributed income of Peoples Bank			3,067				19,003
Equity in undistributed (distributions in excess of income) income of Peoples Bank			12,614				(7,889	)
income of NWIN Risk Management, Inc			923				983
Net income		$	16,604			$	12,097

		(Dollars in thousands)
		NorthWest Indiana Bancorp
		Condensed Statements of Cash Flows
		Year Ended December 31,
		2020				2019
Cash flows from operating activities:
Net income		$	16,604			$	12,097
Adjustments to reconcile net income to net cash provided by operating activities
Distributions in excess of income (equity in undistributed income):
Peoples Bank			(12,614	)			7,889
NWIN Risk Management, Inc			(923	)			(983	)
Stock based compensation expense			415				301
Net surrender value of restricted stock awards			(85	)			(63	)
Change in other assets			190				(94	)
Change in other liabilities			433				(259	)
Total adjustments			(12,584	)			6,791
Net cash - operating activities			4,020				18,888
Cash flows from investing activities:
Cash paid for acquisition			-				(15,743	)
Investment in Peoples Bank			-				(1,500	)
Distribution from NWIN Risk Management, Inc			885				1,750
Net cash - investing activities			885				(15,493	)
Cash flows from financing activities:
Dividends paid			(4,291	)			(4,085	)
Proceeds from issuance of common stock			-				-
Net cash - financing activities			(4,291	)			(4,085	)
Net change in cash			614				(690	)
Cash at beginning of year			191				881
Cash at end of year		$	805			$	191

X

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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X

- References

No definition available.

+ Details

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