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 (FNWD) provides essential financial services through its Peoples Bank subsidiary, serving individuals and businesses with personal banking, wealth management, and commercial lending solutions. This news hub offers investors and stakeholders timely updates on corporate developments directly impacting financial performance and strategic direction.
Access authoritative coverage of earnings announcements, regulatory filings, and operational milestones. Our curated collection includes press releases about product innovations, leadership appointments, and community initiatives – all critical for assessing the company's position in the banking sector.
Key updates across three core areas: financial results (quarterly earnings, dividend declarations), strategic moves (technology investments, service expansions), and regulatory compliance (capital adequacy reports, risk management enhancements). Each piece maintains factual accuracy while contextualizing developments within broader industry trends.
Bookmark this page for streamlined access to FNWD's official communications. Combine regular monitoring with our historical archive to track evolving patterns in loan portfolio performance, deposit growth strategies, and digital banking adoption rates.
Finward Bancorp (Nasdaq: FNWD) has issued corrections to its Q2 2024 earnings report. Key updates include:
- Net income of $9.4 million ($2.21 per diluted share) for H1 2024
- Q2 2024 net income of $143,000 ($0.03 per diluted share)
- Net interest margin improved to 2.54% in Q2 2024
- Deposits increased 0.5% to $1.8 billion
- Loan portfolio stable at $1.5 billion
- Non-performing loans decreased 3.8% to $11.4 million
- Allowance for credit losses at 1.22% of total loans
The bank maintains a strong liquidity position with $585 million available. Operating expenses decreased, and the bank remains focused on efficiency improvements. Capital ratios remain within regulatory requirements, with a tier 1 capital ratio of 8.32%.
Finward Bancorp (Nasdaq: FNWD) reported net income of $9.4 million, or $2.21 per diluted share, for the six months ended June 30, 2024, compared to $4.7 million, or $1.10 per diluted share, for the same period in 2023. For Q2 2024, net income was $143,000, or $0.03 per diluted share, down from $2.4 million, or $0.57 per diluted share, in Q2 2023.
Key highlights include:
- Net interest margin improved to 2.54% in Q2 2024 from 2.42% in Q1 2024
- Deposits increased by 0.5% to $1.8 billion
- Loan portfolio remained stable at $1.5 billion
- Non-performing loans decreased by 3.8% to $11.4 million
- Tier 1 capital ratio improved to 8.32%
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.
FAQ
What is the current stock price of Finward Bancorp (FNWD)?
What is the market cap of Finward Bancorp (FNWD)?
