Finward Bancorp Stock Price, News & Analysis

Finward Bancorp has appointed Dr. Anthony M. Puntillo as the Lead Independent Director of its Board, effective February 25, 2022. His selection reflects his integrity and extensive knowledge of the Bancorp. Dr. Puntillo, who has served on the board since 2004, will preside over meetings in the Executive Chairman's absence and liaise with non-management directors. He also retains his role as Vice Chairman. This move is expected to enhance the governance of Finward Bancorp, contributing positively to stakeholder engagement and company performance.

Finward Bancorp has declared a $0.31 per share dividend, payable on April 4, 2022, with a record date of March 25, 2022. The company operates as a financial holding entity for Peoples Bank, offering a range of financial services in Northwest Indiana and the Chicagoland area. Finward’s stock is traded under the symbol FNWD. The announcement highlights Finward's commitment to shareholder returns while emphasizing that future dividends and share repurchases may vary based on financial performance and market conditions.

Finward Bancorp (Nasdaq: FNWD) has successfully completed its acquisition of Royal Financial, Inc. and its subsidiary Royal Savings Bank in a transaction valued at approximately $56.7 million. Royal Financial stockholders can choose to receive either shares of Finward common stock or cash. The merger enhances Finward's retail banking network in the Chicagoland area, expanding its assets to about $2.2 billion and increasing its number of full-service Banking Centers to 30. The integration process is expected to finalize in April 2022.

Finward Bancorp (Nasdaq: FNWD) reported a net income of $15.0 million, or $4.30 per share, for 2021, reflecting a 6.1% decline from 2020 due to increased noninterest expenses and decreased noninterest income. The adjusted net income was $15.7 million, or $4.52 per share, excluding one-time costs of $838 thousand related to the Royal Financial acquisition. Total assets grew by 8.3%, with interest-earning assets increasing by 8.9%. Noninterest income decreased by 12.1% year-over-year. The efficiency ratio worsened to 72.28% from 65.03%. The Bancorp's capital ratios demonstrate a strong capital position.

Finward Bancorp (Nasdaq: FNWD) has announced preliminary results of stockholder elections regarding the merger with Royal Financial, Inc. (OTCQX: RYFL). As of January 18, 2022, around 88.3% of Royal Financial stockholders chose to receive Finward common stock (0.4609 shares) while approximately 3.3% opted for cash ($20.14). The merger terms stipulate that 65% of shares convert to stock and 35% to cash. The final accounting is pending, affecting the exchange process. Stockholders will soon receive further instructions post-merger.

Finward Bancorp (Nasdaq: FNWD) and Royal Financial, Inc. announced that all regulatory approvals for the merger of Royal Savings Bank with Peoples Bank have been obtained. The merger is set to close in January 2022, following approvals from the Indiana Department of Financial Institutions and other regulatory bodies. This merger aims to enhance operational efficiency and provide comprehensive commercial banking services. Royal Financial stockholders can elect their merger consideration until January 18, 2022, with 65% of outstanding shares converted to FNWD stock and 35% to cash.

Finward Bancorp has declared a dividend of $0.31 per share, expected to be paid on January 7, 2022, with a record date of December 29, 2021. The company operates as a financial holding company for Peoples Bank, providing various financial services across its 22 locations in Northwest Indiana and South Chicagoland. The stock is traded under the symbol FNWD on NASDAQ.

Finward Bancorp (FNWD) reported a net income of $11.7 million ($3.35 per share) for the nine months ending September 30, 2021, down 7.9% year-over-year. For Q3 2021, net income was $3.5 million ($1.02 per share), decreasing 24.5% from Q3 2020. Total assets increased by $113.6 million (7.6%) with a strong core deposit growth. However, noninterest income dropped 9.7% in nine months and 14.6% in Q3. The efficiency ratio was 75.87% for Q3 compared to 60.66% last year, indicating higher expenses. The Bancorp is well-capitalized, with a tier 1 leverage ratio of 8.4%.

Finward Bancorp (FNWD) has received approval from The Nasdaq Stock Market to list its common stock on the Nasdaq Capital Market, with trading set to begin on November 3, 2021. This uplisting is seen as a significant milestone for the company, enhancing visibility among investors and broadening its investor base. CEO Benjamin Bochnowski emphasized the historical effort behind this achievement, stating it aligns with the company’s long-term strategic goals. The stock will continue to be quoted on the OTC Pink Marketplace until the Nasdaq listing commences.