Finward Bancorp Stock Price, News & Analysis

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.

Finward Bancorp (FNWD) reported a net income of $6.6 million or $1.58 per diluted share for the six months ending June 30, 2022, down from $8.1 million or $2.33 in the prior year. For Q2 2022, net income rose to $4.4 million, maintaining a diluted EPS of $1.03, compared to $3.6 million in Q2 2021. Core net income increased to $8.0 million for the six months, driven by growth in interest-earning assets. The net interest margin improved to 3.70%, while noninterest income declined by 24.4%. The allowance for loan losses was adequate at 1.45% of total loans. The tangible book value per share decreased to $25.24.

Finward Bancorp has declared a dividend of $0.31 per share, payable on July 7, 2022, with a record date of June 24, 2022. The company, serving Northwest Indiana and the Chicagoland area, focuses on banking and wealth management services through its subsidiary, Peoples Bank. Common stock is traded on NASDAQ under the symbol FNWD. While the dividend showcases the company's commitment to returning value to shareholders, future dividends are contingent on various factors including financial performance and market conditions.

Finward Bancorp has appointed Todd M. Scheub as the new President of Peoples Bank and Chief Revenue Officer of the Bancorp, effective April 27, 2022. Scheub, who has been with the bank since 1996, was previously the Executive Vice President, Chief Banking Officer. In his new role, he will enhance business relationships and oversee the bank's sales teams. This promotion aligns with Finward’s strategic goals to create efficiencies and reinforce community investments. The change is expected to expand revenue opportunities and reinforce customer engagement.