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Finward Bancorp - FNWD STOCK NEWS

Welcome to our dedicated page for Finward Bancorp news (Ticker: FNWD), a resource for investors and traders seeking the latest updates and insights on Finward Bancorp stock.

Finward Bancorp (NASDAQ: FNWD) is a reputable bank holding company headquartered in Munster, Indiana. Primarily known for its wholly-owned subsidiary, Peoples Bank, Finward Bancorp offers a wide array of financial services that cater to personal, business, and wealth management needs. Established over a century ago, the company has long been committed to putting customers first, an ethos that continues to drive its operations today.

Peoples Bank operates through 26 banking centers located in Lake and Porter Counties in Northwest Indiana and the Chicagoland area. The bank provides a broad spectrum of services, including Personal Banking, Cash Management, Savings Accounts, eBanking, Wealth Management, and Insurance Services.

The bank has a strong history of high-quality performance and customer-centric service, which is evident in its community-focused approach. This local ownership and management allow Finward to rapidly and effectively meet the needs of its customers, helping them achieve their financial goals through tailored solutions.

Financial stability and strategic growth remain at the heart of Finward's business model. For the nine months ending September 30, 2023, Finward reported a net income of $6.9 million, or $1.60 per diluted share. This compares to $11.1 million, or $2.67 per diluted share, for the corresponding prior year period. The company has managed to maintain a stable deposit base and prudent credit quality, despite the challenging economic environment marked by interest rate fluctuations.

Recent strategic initiatives include a sale-leaseback transaction that significantly boosted the company's profitability for the quarter ending March 31, 2024. This move, alongside other asset quality improvements and expense management efforts, demonstrates Finward's proactive approach in navigating financial challenges while maintaining a strong capital base.

Finward Bancorp's forward-looking strategies focus on enhancing operational efficiency and optimizing their balance sheet, ensuring they remain well-positioned to serve their core customers. Forward-looking statements in recent communications stress the potential risks and uncertainties but also highlight a disciplined approach to managing capital, liquidity, and credit quality in a fluctuating market.

For more detailed information on Finward Bancorp's services and financial updates, please visit their official website ibankpeoples.com. Investors and stakeholders can also find regulatory filings and additional details on the U.S. Securities and Exchange Commission's website.

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Finward Bancorp (Nasdaq: FNWD) announced a $0.12 per share dividend for the second quarter of 2024, payable on August 1, 2024. Shareholders must be recorded by July 19, 2024, to receive the dividend. According to CEO Benjamin J. Bochnowski, Peoples Bank, Finward's holding, remains well-capitalized with a notable increase in capital over the past year. The Board of Directors will continue reviewing the dividend every quarter.

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Finward Bancorp reported a significant increase in net income available to common stockholders for the quarter ended March 31, 2024, compared to the same period last year. The boost in profitability was mainly attributed to a pre-tax non-interest income gain from a sale-leaseback transaction. Key performance metrics showed improvements in return on equity, return on assets, and efficiency ratio. The Bancorp's management focused on strategic initiatives, resulting in successful execution of the transaction. Despite an increase in non-interest expenses, the company remains committed to reducing costs. Highlights included changes in net interest margin, funding sources, securities portfolio, gain on sale of loans, commercial lending, and asset quality. Capital adequacy and the sale-leaseback transaction with MountainSeed Real Estate Services, were also significant developments.
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Finward Bancorp (Nasdaq: FNWD) appoints Benjamin Schmitt as Senior Vice President, Chief Financial Officer, and Treasurer, showcasing his extensive experience in investment banking and corporate advisory roles. Mr. Schmitt will oversee finance, accounting, financial reporting, and shareholder services, aligning with Finward's strategic plan for excellence and leadership.
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Finward Bancorp (FNWD) announced a decrease in net income available to common stockholders, with a decline from $15.1 million in 2022 to $8.4 million in 2023. The net interest margin also decreased to 2.83% from 3.56% in the same period. However, the Bancorp remains well-capitalized, with a tier 1 capital to adjusted average assets ratio of 7.8% and a tangible book value per share of $28.31. The company is optimistic about the future, focusing on customer initiatives and efficiency improvements.
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Finward Bancorp (Nasdaq: FNWD) announced a dividend of $0.12 per share for the fourth quarter of 2023, lower than the previous quarter. Benjamin Bochnowski, chairman and CEO, stated that the decision to lower the dividend is to accelerate capital build-up, strengthen the company, and improve the balance sheet. Peoples Bank remains well-capitalized, and the Board of Directors is committed to building shareholder value.
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Finward Bancorp (Nasdaq: FNWD) reported net income of $6.9 million for the nine months ended September 30, 2023, compared to $11.1 million in the prior year. For the quarter ended September 30, 2023, net income was $2.2 million. Selected performance metrics showed a decrease in net interest margin and an increase in non-performing loans. The Bank's liquidity position remains strong.
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Finward Bancorp declares dividend of $0.31 per share.
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Finward Bancorp (Nasdaq: FNWD) reported net income available to common stockholders of $4.7 million, or $1.09 per diluted share, for the six months ended June 30, 2023, compared to $6.6 million, or $1.59 per diluted share, for the same period last year. For the three months ended June 30, 2023, net income was $2.4 million, or $0.57 per diluted share, compared to $4.4 million, or $1.04 per share, for the same period in 2022. The net interest margin for the six months ended June 30, 2023, was 2.98%, compared to 3.50% for the same period last year.
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FAQ

What services does Finward Bancorp offer?

Finward Bancorp offers personal banking, cash management, saving accounts, eBanking, wealth management, and insurance services through its subsidiary, Peoples Bank.

Where is Finward Bancorp headquartered?

Finward Bancorp is headquartered in Munster, Indiana.

How many banking centers does Peoples Bank operate?

Peoples Bank operates 26 banking centers in Lake and Porter Counties, Northwest Indiana, and the Chicagoland area.

What recent strategic initiatives has Finward Bancorp undertaken?

Recent strategic initiatives include executing a sale-leaseback transaction and improvements in asset quality and operational efficiency.

How did Finward's financial performance fare in the nine months ending September 30, 2023?

Finward reported a net income of $6.9 million, or $1.60 per diluted share, for the nine months ended September 30, 2023.

What is the philosophy behind Finward Bancorp's customer service?

Finward Bancorp follows a 'You First Banking' philosophy, prioritizing customer concerns and focusing on relationship-driven banking.

What are the future plans of Finward Bancorp?

Finward Bancorp plans to continue optimizing their balance sheet, enhancing operational efficiency, and maintaining a strong focus on capital and liquidity management.

Where can I find more information about Finward Bancorp’s financial performance?

Detailed financial information about Finward Bancorp can be found on their official website and through their filings with the U.S. Securities and Exchange Commission.

What role does Peoples Bank play within Finward Bancorp?

Peoples Bank is the primary subsidiary of Finward Bancorp, providing a wide range of financial services to individual and business clients.

How does Finward Bancorp ensure financial stability?

Finward Bancorp ensures financial stability through prudent credit quality, strategic asset management, and operational efficiency.

Finward Bancorp

Nasdaq:FNWD

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FNWD Stock Data

112.63M
4.31M
13.34%
29.18%
0.19%
Savings Institutions
Finance and Insurance
Link
United States of America
MUNSTER