2017 Q3 Form 10-Q Financial Statement

#000114420417053575 Filed on October 23, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $8.431M $8.169M
YoY Change 3.21% 7.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $660.0K $590.0K $670.0K
YoY Change -1.49% 18.0% 1.52%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $659.0K $587.0K
YoY Change 12.27% 11.81%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.757M $2.960M $2.959M
YoY Change -6.83% 25.42% 23.81%
Income Tax $509.0K $630.0K $631.0K
% Of Pretax Income 18.46% 21.28% 21.32%
Net Earnings $2.248M $2.330M $2.328M
YoY Change -3.44% 14.78% 21.19%
Net Earnings / Revenue 26.66% 28.5%
Basic Earnings Per Share $0.78 $0.81
Diluted Earnings Per Share $0.78 $814.7K $0.81
COMMON SHARES
Basic Shares Outstanding 2.864M shares 2.860M shares
Diluted Shares Outstanding 2.864M shares 2.861M shares

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $14.13M $44.22M $16.56M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $19.60M $19.29M $18.75M
YoY Change 4.51% 1.82% 0.68%
Goodwill $2.792M $2.792M
YoY Change 9.02% 9.02%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $916.3M $913.6M $900.9M
YoY Change 1.71% 5.63% 6.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $10.30M $9.900M $11.00M
YoY Change -6.36% -10.81% 10.0%
Deferred Revenue
YoY Change
Short-Term Debt $15.90M $14.00M $20.80M
YoY Change -23.56% -24.32% -2.8%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.30M $9.900M $11.00M
YoY Change -6.36% -10.81% 10.0%
LONG-TERM LIABILITIES
Long-Term Debt $41.40M $25.80M $33.50M
YoY Change 23.58% -34.68% 4.04%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $41.40M $25.80M $33.50M
YoY Change 23.58% -34.68% 4.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.30M $9.900M $11.00M
Total Long-Term Liabilities $41.40M $25.80M $33.50M
Total Liabilities $825.2M $829.5M $813.7M
YoY Change 1.42% 5.81% 6.77%
SHAREHOLDERS EQUITY
Retained Earnings $85.56M $80.95M $79.42M
YoY Change 7.73% 7.96% 7.73%
Common Stock $4.803M $4.661M $4.624M
YoY Change 3.87% -4.49% 2.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $91.13M $84.11M $87.21M
YoY Change
Total Liabilities & Shareholders Equity $916.3M $913.6M $900.9M
YoY Change 1.71% 5.63% 6.97%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $2.248M $2.330M $2.328M
YoY Change -3.44% 14.78% 21.19%
Depreciation, Depletion And Amortization $660.0K $590.0K $670.0K
YoY Change -1.49% 18.0% 1.52%
Cash From Operating Activities $4.090M $4.890M -$4.060M
YoY Change -200.74% 81.11% 117.11%
INVESTING ACTIVITIES
Capital Expenditures -$310.0K -$810.0K -$270.0K
YoY Change 14.81% 42.11% -22.86%
Acquisitions
YoY Change
Other Investing Activities -$9.270M $7.440M -$6.790M
YoY Change 36.52% -135.73% -242.35%
Cash From Investing Activities -$9.590M $6.630M -$7.060M
YoY Change 35.84% -131.0% -259.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.130M 16.14M -3.640M
YoY Change 123.35% -15.14% -86.25%
NET CHANGE
Cash From Operating Activities 4.090M 4.890M -4.060M
Cash From Investing Activities -9.590M 6.630M -7.060M
Cash From Financing Activities -8.130M 16.14M -3.640M
Net Change In Cash -13.63M 27.66M -14.76M
YoY Change -7.66% 8281.82% -38.29%
FREE CASH FLOW
Cash From Operating Activities $4.090M $4.890M -$4.060M
Capital Expenditures -$310.0K -$810.0K -$270.0K
Free Cash Flow $4.400M $5.700M -$3.790M
YoY Change -216.09% 74.31% 149.34%

Facts In Submission

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CY2017Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2017Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2017Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
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CY2017Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
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CY2017Q3 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
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CY2017Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
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CY2017Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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61 Securities
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
112980000 USD
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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4696000 USD
CY2016Q4 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
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CY2016Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
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6 Securities
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
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CY2016Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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103 Securities
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4865000 USD
CY2017Q3 us-gaap Mortgage Loans On Real Estate
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CY2016Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2864162 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
155 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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750 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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147 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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750 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2863953 shares
CY2017Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
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2700000 USD
CY2017Q3 nwin Impaired Financing Receivable Reserve
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725000 USD
CY2017Q3 nwin Impaired Financing Receivable Fair Value
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2000000 USD
CY2016Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
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3500000 USD
CY2016Q4 nwin Impaired Financing Receivable Reserve
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1200000 USD
CY2016Q4 nwin Impaired Financing Receivable Fair Value
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2300000 USD
CY2016Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
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2193000 USD
CY2016Q4 nwin Demand And Savings Deposits
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111800000 USD
CY2016Q4 us-gaap Debt And Capital Lease Obligations
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25828000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2858769 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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250000 shares
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
142000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
104000 USD
CY2017Q3 nwin Sharebased Compensation Expense Estimated For Remainder Of Fiscal Year
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51000 USD
CY2017Q3 nwin Sharebased Compensation Expense Estimated For Year Two
SharebasedCompensationExpenseEstimatedForYearTwo
147000 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
4575 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
8740 shares
CY2016Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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271000 USD
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
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0 USD
CY2017Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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271000 USD
CY2017Q3 us-gaap Available For Sale Securities Amortized Cost
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3600000 USD
CY2017Q3 us-gaap Cash Equivalents At Carrying Value
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14128000 USD
CY2017Q3 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
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2007000 USD
CY2017Q3 nwin Demand And Savings Deposits
DemandAndSavingsDeposits
118797000 USD
CY2017Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
41421000 USD
CY2017Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
45000 USD
CY2017Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
14128000 USD
CY2017Q3 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
2049000 USD
CY2017Q3 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
594357000 USD
CY2017Q3 us-gaap Investment In Federal Home Loan Bank Stock Fair Value Disclosure
InvestmentInFederalHomeLoanBankStockFairValueDisclosure
3000000 USD
CY2017Q3 nwin Interest Receivable Fair Value
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3021000 USD
CY2017Q3 nwin Demand And Saving Deposits Fair Value Disclosure
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118797000 USD
CY2017Q3 nwin Certificates Of Deposits Fair Value Disclosure
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637759000 USD
CY2017Q3 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
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CY2017Q3 us-gaap Long Term Debt Fair Value
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41417000 USD
CY2017Q3 nwin Interest Payable Fair Value
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45000 USD
CY2016Q4 us-gaap Cash Equivalents At Carrying Value
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45109000 USD
CY2016Q4 us-gaap Interest Payable Current And Noncurrent
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CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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45109000 USD
CY2016Q4 us-gaap Loans Held For Sale Fair Value Disclosure
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2242000 USD
CY2016Q4 us-gaap Loans Receivable Fair Value Disclosure
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CY2016Q4 us-gaap Investment In Federal Home Loan Bank Stock Fair Value Disclosure
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CY2016Q4 nwin Interest Receivable Fair Value
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3086000 USD
CY2016Q4 nwin Demand And Saving Deposits Fair Value Disclosure
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111800000 USD
CY2016Q4 nwin Certificates Of Deposits Fair Value Disclosure
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CY2016Q4 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
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CY2016Q4 us-gaap Long Term Debt Fair Value
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25840000 USD
CY2016Q4 nwin Interest Payable Fair Value
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CY2017Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2016Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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5605000 USD
CY2017Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
11645000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
11668000 USD
CY2017Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
596319000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
571982000 USD
CY2017Q3 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
380000 USD
CY2017Q3 us-gaap Common Stock Shares Outstanding
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2864007 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
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2860157 shares
us-gaap Payments To Acquire Loans And Leases Held For Investment
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362000 USD
us-gaap Payments To Acquire Loans And Leases Held For Investment
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0 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
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500000 USD
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10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
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0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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CY2017Q3 us-gaap Common Stock Shares Authorized
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CommonStockSharesAuthorized
10000000 shares
CY2017Q3 us-gaap Common Stock Shares Issued
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CY2016Q4 us-gaap Common Stock Shares Issued
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us-gaap Basis Of Accounting
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> <b>Note 1 - Basis of Presentation</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> The consolidated financial statements include the accounts of NorthWest Indiana Bancorp (the &#8220;Bancorp&#8221;), its wholly-owned subsidiaries NWIN Risk Management, Inc. (a captive insurance subsidiary) and Peoples Bank SB (the &#8220;Bank&#8221;), and the Bank&#8217;s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp&#8217;s business activities include being a holding company for the Bank as well as a holding company for NWIN Risk Management, Inc. The Bancorp&#8217;s earnings are primarily dependent upon the earnings of the Bank. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by U.S. generally accepted accounting principles for complete presentation of consolidated financial statements. In the opinion of management, the consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets of the Bancorp as of September 30, 2017 and December 31, 2016, and the consolidated statements of income, comprehensive income, and changes in stockholders&#8217; equity for the three and nine months ended September 30, 2017 and 2016 and consolidated statements of cash flows for the nine months ended September 30, 2017 and 2016. The income reported for the nine month period ended September 30, 2017 is not necessarily indicative of the results to be expected for the full year.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q3 nwin Minimum Percentage Of Defaults Rates On Above3 Years Issuer Average In Other Than Temporary Impairment Model Assumptions
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CY2017Q3 nwin Maximum Percentage Of Defaults Rates On Above3 Years Issuer Average In Other Than Temporary Impairment Model Assumptions
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0.0500 pure
CY2017Q3 nwin Minimum Percentage Of Recovery Assumptions On Other Than Temporary Impairment Model Assumptions
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0 pure
CY2017Q3 nwin Maximum Percentage Of Recovery Assumptions On Other Than Temporary Impairment Model Assumptions
MaximumPercentageOfRecoveryAssumptionsOnOtherThanTemporaryImpairmentModelAssumptions
0.15 pure
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> <b>Note 10 - Adoption of New Accounting Standards</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, <i>Revenue from Contracts with Customers (Topic 606)</i>, which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition. The ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance will be effective for the Bancorp's year ending December 31, 2018. The ASU permits application of the new revenue recognition guidance to be applied using one of two retrospective application methods. The Bancorp has not yet determined which application method it will use. Interest income is outside of the scope of the new standard and will not be impacted by the adoption of the standard. The Bancorp is still evaluating the impact of the new standard on its noninterest income.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-01, <i> Recognition and Measurement of Financial Assets and Financial Liabilities</i>. The ASU covers various changes to the accounting, measurement, and disclosures related to certain financial instruments, including requiring equity investments to be accounted for at fair value with changes recorded through earnings, the use of the exit price when measuring fair value, and disaggregation of financial assets and liabilities by category for disclosure purposes. The new guidance will be effective for the Bancorp's year ending December 31, 2018. Early adoption is permitted as early as periods ending after December 31, 2017 with some additional options for early application. The Bancorp does not believe adopting the provisions of ASU No. 2016-01 in the future will have a material impact on the consolidated financial statements. The Bancorp has not yet quantified the impact of the change.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> In February 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, <i>Lease</i>s, which will supersede the current lease requirements in ASC 840. The ASU requires lessees to recognize a right-of-use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of operations. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet.&#160;The reporting of lease-related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new lease guidance will be effective for the Bancorp's year ending December 31, 2019 and will be applied using a modified retrospective transition method to the beginning of the earliest period presented. Management does not believe the adoption of this update will have a material effect on the Bancorp&#8217;s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> &#160;&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Arial, Helvetica, Sans-Serif"> In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, <i>Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments</i>. The ASU includes increased disclosures and various changes to the accounting and measurement of financial assets including the Bancorp&#8217;s loans and available-for-sale and held-to-maturity debt securities. Each financial asset presented on the balance sheet would have a unique allowance for credit losses valuation account that is deducted from the amortized cost basis to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in this ASU also eliminate the probable initial recognition threshold in current GAAP and instead, reflect an entity&#8217;s current estimate of all expected credit losses using reasonable and supportable forecasts. The new credit loss guidance will be effective for the Bancorp's year ending December 31, 2020. Upon adoption, the ASU will be applied using a modified retrospective transition method to the beginning of the first reporting period in which the guidance is effective. A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date.&#160;Early adoption for all institutions is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is in the process of evaluating the impact adoption of this update will have on the Bancorp&#8217;s consolidated financial statements.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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34000 USD
CY2017Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7073000 USD
CY2016Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7337000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
6953000 USD
CY2017Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
194000 USD
CY2016Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
105000 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1397000 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
329000 USD
CY2017Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
15000 USD
CY2016Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
10000 USD
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
36000 USD
CY2017Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
165000 USD
CY2016Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
262000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
722000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
846000 USD
CY2016Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7504000 USD
CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
725000 USD
CY2016Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1236000 USD
CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
6334000 USD
CY2016Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
6462000 USD
CY2017Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
1935000 USD
CY2016Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
2561000 USD
CY2017Q3 nwin Financing Receivable Purchased Credit Impaired Individually Evaluated For Impairment
FinancingReceivablePurchasedCreditImpairedIndividuallyEvaluatedForImpairment
773000 USD
CY2016Q4 nwin Financing Receivable Purchased Credit Impaired Individually Evaluated For Impairment
FinancingReceivablePurchasedCreditImpairedIndividuallyEvaluatedForImpairment
956000 USD
CY2017Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
605256000 USD
CY2016Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
580132000 USD

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