Finward Bancorp Stock Price, News & Analysis

Finward Bancorp (Nasdaq: FNWD) reported net income of $2.2 million, or $0.51 per diluted share, for Q1 2023, a slight increase from $2.1 million, or $0.53 per share, in the previous year. The bank's return on equity dropped to 6.42% from 12.96% year-over-year, and return on assets declined to 0.43% from 0.44%. Core deposits decreased by 5.5% to $1.3 billion, while certificate of deposit balances rose by 29.8% to $471.4 million. The net interest margin fell to 3.07% compared to 3.41% in Q1 2022, attributed to rising costs from the current interest rate environment. Asset quality showed mixed results, with non-performing loans increasing to $20.7 million, up 12.5% from the previous quarter. The Bancorp's tangible book value per share increased to $26.68 from $25.41, reflecting improved conditions in the bond market.

Finward Bancorp has declared a dividend of $0.31 per share, payable on April 6, 2023, with a record date set for March 24, 2023. The announcement was made on February 24, 2023, showcasing the company's commitment to returning value to its shareholders. Finward Bancorp, operating as a financial holding company for Peoples Bank, offers a wide range of financial services across 26 locations in Northwest Indiana and the Chicagoland area.

Finward Bancorp (Nasdaq: FNWD) announced the retirement of Executive Chairman David A. Bochnowski effective June 30, 2023. Benjamin J. Bochnowski, currently President and CEO, is appointed as the new Chairman, following a standard succession plan. David Bochnowski has served the company for over 40 years, significantly contributing to its growth from $127 million to $2.05 billion in assets. His legacy includes a strong focus on community banking and navigating various economic challenges. The transition aims to maintain stability and continuity, with expectations for Benjamin Bochnowski to continue expanding shareholder value.

Finward Bancorp (FNWD) reported a net income of $15.1 million or $3.60 per diluted share for the year ending December 31, 2022, marking a slight increase from $15.0 million or $4.30 per diluted share in 2021. For Q4 2022, net income was $4.0 million or $0.93 per diluted share, compared to $3.3 million or $0.95 in Q4 2021. Core net income rose to $17.3 million for 2022, up from $13.4 million in 2021, driven by organic loan growth and increased interest-earning assets following the acquisition of Royal Financial. However, unrealized losses on the securities portfolio reached $64.3 million.

Finward Bancorp (NASDAQ: FNWD) announced the upcoming retirement of Leane E. Cerven, Chief Risk Officer and General Counsel, effective May 5, 2023. Cerven, who has been with the organization since 2010, has played a crucial role in the Bank's growth, overseeing key functions such as Legal, Compliance, and Risk Management. Lynette M. Klemm will serve as the Interim Chief Risk Officer. The transition is part of a planned succession, aiming to maintain stability in the organization.

Finward Bancorp has declared a $0.31 per share dividend, payable on January 6, 2023, with a record date of December 28, 2022. The announcement reflects the company's commitment to returning value to shareholders amidst a backdrop of ongoing operational strategies. Headquartered in Munster, Indiana, Finward Bancorp primarily holds the stock of Peoples Bank, offering a suite of financial services across 29 locations in the Northwest Indiana and Chicagoland areas. Investors should remain aware of various risks impacting future financial performance as detailed in their SEC filings.

Finward Bancorp (FNWD) reported a net income of $11.1 million for the nine months ending September 30, 2022, down from $11.7 million in the same period last year. The quarterly net income rose to $4.6 million, up from $3.5 million year-over-year. Core net income increased to $12.7 million, reflecting growth in interest-earning assets from the Royal Financial acquisition and an organic loan growth of 8.4%. The net interest margin improved to 3.56%. However, unrealized losses on securities totaled $79.8 million. The tangible book value per share dropped to $20.99.

Finward Bancorp has declared a $0.31 per share dividend, scheduled for payment on October 5, 2022, with a record date of September 28, 2022. This independent financial holding company, based in Munster, Indiana, manages Peoples Bank and operates 29 locations throughout Northwest Indiana and the Chicagoland area. While the press release highlights the dividend declaration, it also mentions potential risks affecting future financial performance and dividend sustainability.