$FNWD
Finward Bancorp

2023 Q2 Form 10-Q Financial Statement

#000143774923014672 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $21.61M $20.14M
YoY Change 21.83% 26.69%
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 $2.238M $1.078M
YoY Change 15.96% -9.49%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $7.574M $5.468M
YoY Change 1613.57% 1423.12%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.536M $2.561M
YoY Change -49.46% 6.27%
Income Tax $98.00K $321.0K
% Of Pretax Income 3.86% 12.53%
Net Earnings $2.438M $2.240M
YoY Change -44.98% 4.92%
Net Earnings / Revenue 11.28% 11.12%
Basic Earnings Per Share $0.57 $0.52
Diluted Earnings Per Share $0.57 $0.51
COMMON SHARES
Basic Shares Outstanding 4.304M 4.304M
Diluted Shares Outstanding 4.259M 4.354M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $115.7M $54.78M
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 $39.20M $39.73M
YoY Change -14.75% -13.2%
Goodwill $22.40M $22.40M
YoY Change -0.91% -1.78%
Intangibles $4.015M $4.402M
YoY Change -28.15% -26.61%
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 $2.161B $2.099B
YoY Change 2.84% 0.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $32.92M $24.32M
YoY Change 42.63% 11.81%
Deferred Revenue
YoY Change
Short-Term Debt $196.4M $28.42M
YoY Change 700.46% 22.31%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $196.4M $52.75M
YoY Change 750.96% 142.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.92M
YoY Change 42.63%
Total Long-Term Liabilities $32.92M $0.00
YoY Change 42.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $196.4M $52.75M
Total Long-Term Liabilities $32.92M $0.00
Total Liabilities $2.024B $1.959B
YoY Change 3.04% 0.96%
SHAREHOLDERS EQUITY
Retained Earnings $127.6M $126.4M
YoY Change 1.38% 3.04%
Common Stock $69.38M $69.18M
YoY Change 1.11% 1.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $136.8M $139.7M
YoY Change
Total Liabilities & Shareholders Equity $2.161B $2.099B
YoY Change 2.84% 0.04%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $2.438M $2.240M
YoY Change -44.98% 4.92%
Depreciation, Depletion And Amortization $2.238M $1.078M
YoY Change 15.96% -9.49%
Cash From Operating Activities $13.20M $3.951M
YoY Change 155.34% 447.23%
INVESTING ACTIVITIES
Capital Expenditures $241.0K $217.0K
YoY Change -127.96% -82.2%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$7.706M -$2.758M
YoY Change 426.37% -109.72%
Cash From Investing Activities -$7.947M -$2.975M
YoY Change 241.66% -110.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.64M $22.52M
YoY Change 153.39% -443.55%
NET CHANGE
Cash From Operating Activities 13.20M $3.951M
Cash From Investing Activities -7.947M -$2.975M
Cash From Financing Activities 55.64M $22.52M
Net Change In Cash 60.89M $23.50M
YoY Change 145.52% 10.19%
FREE CASH FLOW
Cash From Operating Activities $13.20M $3.951M
Capital Expenditures $241.0K $217.0K
Free Cash Flow $12.95M $3.734M
YoY Change 114.84% -851.31%

Facts In Submission

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CY2023Q1 us-gaap Depreciation Amortization And Accretion Net
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CY2023Q1 us-gaap Share Based Compensation
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381000 usd
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206000 usd
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582000 usd
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179000 usd
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57000 usd
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25000 usd
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488000 usd
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296000 usd
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1983000 usd
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722000 usd
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223000 usd
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3675000 usd
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20094000 usd
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217000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1219000 usd
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CY2023Q1 us-gaap Increase Decrease In Deposits
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31093000 usd
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NetSurrenderValueOfRestrictedStockAwards
157000 usd
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NetSurrenderValueOfRestrictedStockAwards
115000 usd
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ProceedsFromRepaymentsOfAgreements
12920000 usd
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ProceedsFromRepaymentsOfAgreements
8663000 usd
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1333000 usd
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1079000 usd
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22523000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
23499000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21325000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31282000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
264188000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33176000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54781000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54501000 usd
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InterestPaidNet
5405000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
339000 usd
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528083000 usd
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0 usd
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NoncashOrPartNoncashAcquisitionGoodwillAndIntangibleAssetsAcquired
14884000 usd
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0 usd
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PaymentsToAcquireBusinessesGross
18725000 usd
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0 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
37902000 usd
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DividendsPayableCurrentAndNoncurrent
1334000 usd
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1331000 usd
CY2023Q1 us-gaap Basis Of Accounting
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Note <em style="font: inherit;">1</em> - Basis of Presentation</b></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><i>Organization and Description of Business</i></p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 18pt;">The consolidated financial statements include the accounts of Finward Bancorp (the “Bancorp” or “FNWD”), its wholly-owned subsidiaries NWIN Risk Management, Inc. (a captive insurance subsidiary) and Peoples Bank (the “Bank”), and the Bank’s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC; NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp’s business activities include being a holding company for the Bank as well as a holding company for NWIN Risk Management, Inc. The Bancorp’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 <em style="font: inherit;">10</em>-Q and, therefore, do <em style="font: inherit;">not</em> 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 <em style="font: inherit;"> March 31, 2023, </em>and <em style="font: inherit;"> December 31, 2022, </em>and the consolidated statements of income, comprehensive income (loss), and changes in stockholders’ equity for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2023, </em>and <em style="font: inherit;">2022,</em> and consolidated statements of cash flows for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2023, </em>and <em style="font: inherit;">2022.</em> The income reported for the <em style="font: inherit;">three</em> month period ended <em style="font: inherit;"> March 31, 2023, </em>is <em style="font: inherit;">not</em> necessarily indicative of the results to be expected for the full year.</p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 18pt;">The Notes to the Consolidated Financial Statements appearing in Finward Bancorp’s Annual Report on Form <em style="font: inherit;">10</em>-K (<em style="font: inherit;">2022</em> Annual Report), which include descriptions of significant accounting policies, should be read in conjunction with these interim financial statements. The Consolidated Balance Sheet at <em style="font: inherit;"> December 31, 2022, </em>has been derived from the audited financial statements at that date but does <em style="font: inherit;">not</em> include all of the information and footnotes required by GAAP for complete financial statements. Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications had <em style="font: inherit;">no</em> effect on net income.</p>
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FinancingReceivableAllowanceAndAccruedLiabilitiesAndOther
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AvailableForSaleDebtSecuritiesAmortizedCostBasis
451425000 usd
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377901000 usd
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7062000 usd
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20004000 usd
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AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
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159376000 usd
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133309000 usd
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451425000 usd
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377901000 usd
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CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
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397000 usd
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16000 usd
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4276000 usd
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14196000 usd
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322000 usd
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353586000 usd
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73271000 usd
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367782000 usd
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DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
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CY2023Q1 fnwd Debt Securities Availableforsale Continuous Unrealized Loss Position Percentage Of Total Portfolio
DebtSecuritiesAvailableforsaleContinuousUnrealizedLossPositionPercentageOfTotalPortfolio
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CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
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408 pure
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
436 pure
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
204281000 usd
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40890000 usd
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
163050000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
43698000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
367331000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
84588000 usd
CY2022Q4 fnwd Debt Securities Availableforsale Continuous Unrealized Loss Position Percentage Of Total Portfolio
DebtSecuritiesAvailableforsaleContinuousUnrealizedLossPositionPercentageOfTotalPortfolio
0.990 pure
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
311 pure
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
135 pure
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
446 pure
CY2023Q1 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
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FinancingReceivableBeforeAllowanceForCreditLossAndFee
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CY2023Q1 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
4829000 usd
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
5083000 usd
CY2023Q1 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
69000 usd
CY2022Q4 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
23000 usd
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1521089000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1513631000 usd
CY2023Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1516329000 usd
CY2022Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1508571000 usd
CY2023Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
33681000 usd
CY2023Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
330215000 usd
CY2023Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
351588000 usd
CY2023Q1 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
263691000 usd
CY2023Q1 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
130476000 usd
CY2023Q1 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
323663000 usd
CY2023Q1 us-gaap Financing Receivable Revolving
FinancingReceivableRevolving
82874000 usd
CY2023Q1 us-gaap Financing Receivable Revolving Converted To Term Loan
FinancingReceivableRevolvingConvertedToTermLoan
141000 usd
CY2023Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1516329000 usd
CY2023Q1 us-gaap Financing Receivable Year One Originated Current Fiscal Year Writeoff
FinancingReceivableYearOneOriginatedCurrentFiscalYearWriteoff
19000 usd
CY2023Q1 us-gaap Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
-0 usd
CY2023Q1 us-gaap Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
-0 usd
CY2023Q1 us-gaap Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
75000 usd
CY2023Q1 us-gaap Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
-0 usd
CY2023Q1 us-gaap Financing Receivable Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
12000 usd
CY2023Q1 us-gaap Financing Receivable Revolving Writeoff
FinancingReceivableRevolvingWriteoff
-0 usd
CY2023Q1 us-gaap Financing Receivable Revolving Converted To Term Loan Writeoff
FinancingReceivableRevolvingConvertedToTermLoanWriteoff
-0 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
106000 usd
CY2022Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1508571000 usd
CY2022Q4 fnwd Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment Reserves
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairmentReserves
337000 usd
CY2022Q4 fnwd Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment Reserves
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairmentReserves
12560000 usd
CY2022Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1508571000 usd
CY2023Q1 us-gaap Financing Receivable Modification To Total Financing Receivables Percent
FinancingReceivableModificationToTotalFinancingReceivablesPercent
0.0004 pure
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
12897000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
1029000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
106000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
102000 usd
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
488000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19568000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
13343000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
10000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
54000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
13387000 usd
CY2023Q1 fnwd Deferred Cost Reserve Unamortized Balance
DeferredCostReserveUnamortizedBalance
4500000 usd
CY2022Q4 fnwd Deferred Cost Reserve Unamortized Balance
DeferredCostReserveUnamortizedBalance
4600000 usd
CY2023Q1 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
11571000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
7902000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
877000 usd
CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12701000 usd
CY2022Q4 fnwd Financing Receivable Purchased Credit Impaired Individually Evaluated For Impairment
FinancingReceivablePurchasedCreditImpairedIndividuallyEvaluatedForImpairment
5400000 usd
CY2022Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1490470000 usd
CY2023Q1 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
5300000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
0 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
0 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
3108000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
22395000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
11109000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
22395000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
22395000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4353873
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4020815
CY2023Q1 us-gaap Demand Deposit Accounts
DemandDepositAccounts
693294000 usd
CY2022Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
755377000 usd
CY2023Q1 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
365176000 usd
CY2022Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
402365000 usd
CY2023Q1 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
276236000 usd
CY2022Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
254157000 usd
CY2023Q1 us-gaap Time Deposits
TimeDeposits
471404000 usd
CY2022Q4 us-gaap Time Deposits
TimeDeposits
363118000 usd
CY2023Q1 us-gaap Deposits
Deposits
1806110000 usd
CY2022Q4 us-gaap Deposits
Deposits
1775017000 usd
CY2023Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
80700000 usd
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
93600000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2240000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2135000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4342386
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4020815
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2240000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2135000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4342386
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4020815
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11487
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
307000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
169000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1300000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
55833
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
43.87
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
8492
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
36.73
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
13754
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
44.32
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
1370
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
42.01
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
49201
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
42.56
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
7535000 usd
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
7440000 usd
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
9010000 usd
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
8972000 usd
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
27000 usd
CY2022Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
25000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
7535000 usd
CY2023Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 usd
CY2023Q1 us-gaap Derivative Assets
DerivativeAssets
7535000 usd
CY2023Q1 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 usd
CY2023Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2023Q1 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
7535000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
9010000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
9010000 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2022Q4 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
9010000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7440000 usd
CY2023Q1 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
7440000 usd
CY2023Q1 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 usd
CY2023Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
3930000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
3510000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
8972000 usd
CY2022Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
8972000 usd
CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 usd
CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
3930000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
5042000 usd
CY2023Q1 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
100000000 usd
CY2022Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
120000000 usd
CY2023Q1 us-gaap Federal Home Loan Bank Advances Maturities Summary By Interest Rate Type Fixed Rate Under One Year
FederalHomeLoanBankAdvancesMaturitiesSummaryByInterestRateTypeFixedRateUnderOneYear
100000000 usd
CY2023Q1 us-gaap Federal Home Loan Bank Advances Maturities Summary By Interest Rate Type Fixed Rate
FederalHomeLoanBankAdvancesMaturitiesSummaryByInterestRateTypeFixedRate
100000000 usd
CY2023Q1 fnwd Available Liquidity
AvailableLiquidity
918000000 usd

Files In Submission

Name View Source Status
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