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Note 18 - Parent Company Only Statements | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 18 – Parent Company Only Statements
|  | (Dollars in thousands) |
|  | Finward Bancorp |
|  | Condensed Balance Sheets |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Assets |  |  |  |  |  |  |  |
Cash on deposit with Peoples Bank |  | $ | 2,061 |  |  | $ | 1,183 |
Investment in Peoples Bank |  |  | 131,431 |  |  |  | 153,772 |
Investment in NWIN Risk Management, Inc |  |  | 2,401 |  |  |  | 1,970 |
Dividends receivable from Peoples Bank |  |  | 1,331 |  |  |  | 1,070 |
Other assets |  |  | 538 |  |  |  | 581 |
Total assets |  | $ | 137,762 |  |  | $ | 158,576 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |
Dividends payable |  | $ | 1,333 |  |  | $ | 1,079 |
Other liabilities |  |  | 36 |  |  |  | 882 |
Total liabilities |  |  | 1,369 |  |  |  | 1,961 |
Additional paid in capital |  |  | 69,032 |  |  |  | 30,430 |
Accumulated other comprehensive (loss) income |  |  | (64,300 | ) |  |  | 4,276 |
Retained earnings |  |  | 131,661 |  |  |  | 121,909 |
Total stockholders’ equity |  |  | 136,393 |  |  |  | 156,615 |
Total liabilities and stockholders’ equity |  | $ | 137,762 |  |  | $ | 158,576 |
|  | (Dollars in thousands) |
|  | Finward Bancorp |
|  | Condensed Statements of Income |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Dividends from Peoples Bank |  | $ | 24,263 |  |  | $ | 4,880 |
Dividends from NWIN Risk |  |  | 925 |  |  |  | 830 |
Operating expenses |  |  | (117 | ) |  |  | (448 | )
Income before income taxes and equity in undistributed income of Peoples Bank |  |  | 25,071 |  |  |  | 5,262 |
Income tax benefit |  |  | (50 | ) |  |  | (94 | )
Income before equity in undistributed income of Peoples Bank |  |  | 25,121 |  |  |  | 5,356 |
Equity in undistributed |  |  |  |  |  |  |  |
(distributions in excess of income) income of Peoples Bank |  |  | (10,472 | ) |  |  | 9,413 |
income of NWIN Risk Management, Inc |  |  | 431 |  |  |  | 194 |
Net income |  | $ | 15,080 |  |  | $ | 14,963 |
|  | (Dollars in thousands) |
|  | Finward Bancorp |
|  | Condensed Statements of Comprehensive Income |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Net Income |  | $ | 15,080 |  |  | $ | 14,963 |
Net change in net unrealized gains and losses on securities available-for-sale: |  |  |  |  |  |  |  |
Unrealized loss arising during the period |  |  | (89,323 | ) |  |  | (5,816 | )
Less: reclassification adjustment for gains included in net income |  |  | (662 | ) |  |  | (1,987 | )
Net securities loss during the period |  |  | (89,985 | ) |  |  | (7,803 | )
Tax effect |  |  | 21,409 |  |  |  | 1,638 |
Other comprehensive loss, net of tax |  |  | (68,576 | ) |  |  | (6,165 | )
Comprehensive (loss) income, net of tax |  | $ | (53,496 | ) |  | $ | 8,798 |
|  | (Dollars in thousands) |
|  | Finward Bancorp |
|  | Condensed Statements of Cash Flows |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income |  | $ | 15,080 |  |  | $ | 14,963 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |
Distributions in excess of income (equity in undistributed income): |  |  |  |  |  |  |  |
Peoples Bank |  |  | 10,472 |  |  |  | (9,413 | )
NWIN Risk Management, Inc |  |  | (431 | ) |  |  | (1,024 | )
Stock based compensation expense |  |  | 741 |  |  |  | 574 |
Change in other assets |  |  | (218 | ) |  |  | (161 | )
Change in other liabilities |  |  | (846 | ) |  |  | (120 | )
Net cash provided by operating activities |  |  | 24,798 |  |  |  | 4,819 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Cash and cash equivalents from acquisition activity, net |  |  | (18,725 | ) |  |  | - |
Investment in Peoples Bank |  |  | - |  |  |  | (830 | )
Net cash used by investing activities |  |  | (18,725 | ) |  |  | (830 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Dividends paid |  |  | (5,075 | ) |  |  | (4,310 | )
Net surrender value of restricted stock awards |  |  | (120 | ) |  |  | (131 | )
Net cash used by financing activities |  |  | (5,195 | ) |  |  | (3,867 | )
Net change in cash |  |  | 878 |  |  |  | 378 |
Cash at beginning of year |  |  | 1,183 |  |  |  | 805 |
Cash at end of year |  | $ | 2,061 |  |  | $ | 1,183 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |  |  |  |  |  |  |  |
Cash paid during the period for: |  |  |  |  |  |  |  |
Income taxes |  |  | 1,347 |  |  |  | 2,185 |
Noncash activities: |  |  |  |  |  |  |  |
Dividends declared not paid |  |  | 1,332 |  |  |  | 1,079 |

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- 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 https://asc.fasb.org/extlink&oid=126898705&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 https://asc.fasb.org/extlink&oid=126929396&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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