My translation:
The third praise addressed to the preexistent "Word" represents the climax: "and God was the Word". Vs. 1c reads "God" rather than the arthrous concept of God in vs. 1b, it is without article and emphasized at the beginning of the sentence (in Greek). By picking up the last word of vs. 1b, the hymn confers the "Word" the state of being God. The leading "and God" is a predicate, but under no circumstances does it identify the Word with the previously mentioned "with [the] God". Thus the "Word" is also being called "God" like one with whom it shares a very close relationship. The state of being God designates both the physis (or nature) of the "Word" as well as of God himself. The word "God" in the sentence of vs. 1c is not the subject, as in Luther's translation, "God was the Word", but the predicate noun. The "Word" is not "[the] God" of vs. 1b (which refers to God the Father). At the same time, the Logos shares the same kind as God, has a divine nature, it is has the same nature as God, in fact it can be translated as, "and of divine kind was the Word". The statement of faith regarding monotheism found in the Old Testament and Judaism is also being respected in this Hellenistic, pre-Johannine hymn. But, as we have already emphasized, in no way do we have here a straight identification. The hymn sings about the fact that in the beginning there have existed two divine beings, or persons, one next to the other, and also one subjected to the other. The "Word" is the divine revealer, so that only within him humans meet God himself. Only through this "Word"-revelation is God closely present and who gets to interact with the revealer gets in reality to interact with God.