Financial Performance - For the twelve months ended December 31, 2024, net income available to common stockholders was $12.1 million, or $2.84 per diluted share, compared to $8.4 million, or $1.96 per diluted share for the prior year[2] - Net income for the quarter was $2,102 thousand, compared to $1,510 thousand in the same quarter last year, representing an increase of approximately 39.2%[18] - Basic earnings per share increased to $0.49 for the quarter ended December 31, 2024, compared to $0.14 in the prior quarter[14] - Basic earnings per share increased to $0.49 from $0.36 year-over-year, reflecting a growth of approximately 36.1%[18] Asset and Liability Management - Total assets as of December 31, 2024, were $2,069,310 thousand, a slight decrease from $2,070,724 thousand at the end of the previous quarter[15] - Total liabilities stood at $1,913,517 thousand, with total stockholders' equity at $155,793 thousand as of December 31, 2024[15] - Total liabilities decreased to $1,909,285 thousand from $1,960,934 thousand year-over-year, representing a decline of approximately 2.6%[17] - Total capital to risk-weighted assets ratio improved to 12.26% as of December 31, 2024, compared to 12.14% in the prior quarter[14] Loan and Deposit Activity - The Bank's aggregate loan portfolio totaled $1.5 billion as of December 31, 2024, with $59.2 million in new commercial loans originated during the quarter[4] - Total deposits as of December 31, 2024, were $1.8 billion, an increase of $11.8 million or 0.7% compared to September 30, 2024[4] - Non-performing loans totaled $13.7 million at December 31, 2024, a decrease of $68 thousand or 0.5% from September 30, 2024[5] - Net loans receivable remained stable at $1,492,065 thousand, showing a slight increase from $1,493,827 thousand year-over-year[17] Interest Income and Margin - The net interest margin for the three months ended December 31, 2024, was 2.65%, up from 2.51% for the three months ended September 30, 2024[3] - The yield on loans was 5.27% for the quarter ended December 31, 2024, compared to 5.22% in the previous quarter[14] - Year-to-date net interest income reached $48,447 thousand, up from $35,840 thousand in the previous year[16] - Total interest income for the quarter was $22,595 thousand, an increase from $22,256 thousand in the same quarter last year, reflecting a growth of about 1.5%[18] Efficiency and Cost Management - Non-interest expense as a percentage of average assets was 2.75% for the quarter ended December 31, 2024, compared to 2.80% for the previous quarter[8] - The efficiency ratio improved to 87.20% for the quarter ended December 31, 2024, from 97.32% in the previous quarter[14] - Total noninterest expense was $14,247 thousand, slightly lower than $13,517 thousand in the same quarter last year, showing a decrease of approximately 5.4%[18] Capital Ratios - The Bank's tier 1 capital to adjusted average assets ratio was 8.46% as of December 31, 2024, an improvement of 0.08% from September 30, 2024[8] - Common equity tier 1 capital to risk-weighted assets was 11.32% as of December 31, 2024, compared to 11.10% in the previous quarter[14] - Common equity tier 1 capital to risk-weighted assets ratio was 11.32%, significantly above the minimum required ratio of 4.50%[19] Stock Performance - The closing stock price was $28.11 as of December 31, 2024, down from $31.98 in the previous quarter[14] - Tangible book value per diluted share was $29.48, an increase from $28.31 year-over-year[20] Other Income and Gains - A one-time gain of $1.2 million was recognized from the dissolution of a tax credit investment partnership during the three months ended December 31, 2024[4] - Noninterest income totaled $3,732 thousand for the quarter, up from $2,735 thousand a year ago, indicating a growth of about 36.5%[18] - Total revenue for the quarter was $16.339 million, an increase from $14.873 million in the previous quarter[20]

Core Viewpoint - Finward Bancorp has declared a dividend of $0.12 per share on its common stock, payable on February 3, 2025, to shareholders of record as of January 21, 2025 [1] Company Overview - Finward Bancorp is an independent financial holding company based in Munster, Indiana, primarily engaged in holding the stock of Peoples Bank, which offers a variety of financial services across 26 locations in Northwest Indiana and the Chicagoland area [2] Financial Performance and Future Outlook - The company has issued forward-looking statements regarding its financial performance and business prospects, which are subject to various risks and uncertainties [3][8] - The actual amounts and timing of future dividends or share repurchases will depend on factors such as capital position, financial performance, market conditions, and regulatory considerations [4]

Core Viewpoint - Finward Bancorp has declared a dividend of $0.12 per share on its common stock, payable on October 31, 2024, to shareholders of record by October 18, 2024 [1] Company Overview - Finward Bancorp is an independent financial holding company based in Munster, Indiana, primarily holding the stock of Peoples Bank, which offers a variety of financial services across 26 locations in Northwest Indiana and the Chicagoland area [2] Dividend Declaration - The Board of Directors of Finward Bancorp declared a dividend of $0.12 per share on September 20, 2024, with a payment date set for October 31, 2024 [1]

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it. The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive. Our ...

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

MUNSTER, Ind., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Finward Bancorp (Nasdaq: FNWD) (the "Bancorp" or "Finward"), the holding company for Peoples Bank, an Indiana state-chartered commercial bank (the "Bank"), today announced that the Boards of the Bancorp and the Bank have appointed Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke to serve as directors of the Bancorp and the Bank, effective as of September 9, 2024. Mr. Alwin, Ms. Evans, and Ms. Burke each have a wealth of experience in the financial in ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. - ...

MUNSTER, Ind., July 30, 2024 (GLOBE NEWSWIRE) -- Finward Bancorp (Nasdaq: FNWD) (the "Bancorp"), the holding company for Peoples Bank (the "Bank"), today announced corrections to its press release issued on July 24, 2024. Specifically, the following press release (i) corrects the "Performance Ratios" table set forth in the rear portion of the original press release to include line items for return on equity, return on assets, tax adjusted net interest margin, noninterest income / average assets, noninterest ...

| Performance Ratios | | | Quarter ended, | | | Six months ended, | | | --- | --- | --- | --- | --- | --- | --- | --- | | | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | | | | | December | September | | | | | | June 30, | March 31, | 31, | 30, | June 30, | June 30, | June 30, | | | 2024 | 2024 | 2023 | 2023 | 2023 | 2024 | 2023 | | Return on equity | 0.39% | 24.97% | 4.92% | 6.55% | 7.05% | 12.81% | 6.74% | | Return on assets | 0.03% | 1.77% | 0.29% | 0.42 ...

PART I. Financial Information [Unaudited Financial Statements and Notes](index=3&type=section&id=Item%201.%20Unaudited%20Financial%20Statements%20and%20Notes) This section presents the unaudited consolidated financial statements for Finward Bancorp as of March 31, 2024, and for the three months then ended, including the balance sheet, statements of income, comprehensive income, changes in stockholders' equity, and cash flows, along with detailed notes explaining the basis of presentation and significant accounting policies [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements show a decrease in total assets to $2.07 billion from $2.11 billion at year-end 2023, primarily due to a reduction in deposits, while net income for Q1 2024 surged to $9.3 million, largely driven by a significant one-time gain on the sale of real estate Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total Assets | $2,071,782 | $2,108,279 | | Net Loans Receivable | $1,489,446 | $1,493,827 | | Total Deposits | $1,747,478 | $1,813,421 | | Total Liabilities | $1,920,201 | $1,960,934 | | Total Stockholders' Equity | $151,581 | $147,345 | Consolidated Income Statement Highlights (in thousands, except per share data) | Account | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Interest Income | $11,780 | $14,668 | | Provision for Credit Losses | $0 | $488 | | Noninterest Income | $13,475 | $2,608 | | **Net Income** | **$9,279** | **$2,240** | | Diluted EPS | $2.17 | $0.51 | - A significant driver of the increase in noninterest income and net income in Q1 2024 was an **$11.86 million** gain on the sale of real estate[9](index=9&type=chunk) - Cash flows from investing activities were a net inflow of **$39.2 million** in Q1 2024, driven by proceeds from the sale of premises and equipment (**$17.7 million**) and securities (**$14.7 million**), contrasting with a net outflow of **$3.0 million** in Q1 2023[15](index=15&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the composition of the Bancorp's assets and liabilities, including a securities portfolio with significant unrealized losses, a loan portfolio concentrated in commercial and residential real estate, and an allowance for credit losses, along with information on intangibles, deposits, derivatives, borrowings, and a recent sale-leaseback transaction Securities Available-for-Sale (in thousands) | Security Type | Fair Value (Mar 31, 2024) | Gross Unrealized Losses | | :--- | :--- | :--- | | U.S. government sponsored entities | $7,866 | $(1,018) | | CMOs and RMBS | $117,897 | $(27,180) | | Municipal securities | $219,028 | $(45,164) | | Collateralized debt obligations | $1,442 | $(724) | | **Total** | **$346,233** | **$(74,086)** | Loan Portfolio Composition (in thousands) | Loan Type | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Residential real estate | $480,255 | $484,948 | | Commercial real estate | $518,166 | $503,202 | | Multifamily | $220,789 | $219,917 | | Construction and land development | $102,446 | $115,227 | | Commercial business | $94,521 | $97,386 | | Other | $88,749 | $97,875 | | **Total Loans Receivable** | **$1,504,926** | **$1,508,755** | - The allowance for credit losses (ACL) was **$18.8 million** as of March 31, 2024, a slight increase from **$18.77 million** at year-end 2023, with no provision for credit losses in Q1 2024 compared to a **$488 thousand** provision in Q1 2023[9](index=9&type=chunk)[74](index=74&type=chunk) - On February 22, 2024, the Bank completed a sale-leaseback transaction for five branch properties, receiving an aggregate purchase price of **$17.2 million** and entering into 15-year triple net lease agreements, resulting in a gain of **$11.8 million**[9](index=9&type=chunk)[105](index=105&type=chunk) - The Bancorp utilized the Federal Reserve's Bank Term Funding Program (BTFP), with **$65 million** in funding outstanding as of March 31, 2024, before the program ceased new loans on March 11, 2024[104](index=104&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the Bancorp's financial condition and operating results, highlighting a significant increase in net income in Q1 2024 due to a one-time gain, while addressing challenges such as net interest margin compression and significant regulatory actions related to Bank Secrecy Act compliance [Regulatory Developments](index=36&type=section&id=Regulatory%20Developments) The Bank entered into a Consent Order with the FDIC and Indiana DFI on November 7, 2023, concerning deficiencies in its Bank Secrecy Act (BSA) compliance program, mandating enhanced oversight, revised BSA programs, and a concurrent Memorandum of Understanding (MOU) requiring prior regulatory approval for cash dividends - On November 7, 2023, the Bank entered into a Consent Order with the FDIC and Indiana DFI related to Bank Secrecy Act (BSA) compliance deficiencies found during a February 2023 examination[110](index=110&type=chunk) - Corrective actions required by the order include strengthening board oversight, revising the BSA compliance program, implementing a customer due diligence program, and reviewing past account activity[111](index=111&type=chunk) - A concurrent Memorandum of Understanding (MOU) requires the Bank to refrain from paying cash dividends without prior regulatory approval[115](index=115&type=chunk) [Financial Condition](index=37&type=section&id=Financial%20Condition) As of March 31, 2024, total assets decreased by **1.7%** to **$2.1 billion** from year-end 2023, with the net loan portfolio remaining stable at **$1.5 billion**, while non-performing loans slightly increased to **0.78%** of total loans, and total deposits declined by **3.6%** to **$1.7 billion** - Total assets decreased by **$36.5 million** (**1.7%**) during Q1 2024, while net loans receivable remained stable at approximately **$1.5 billion**[117](index=117&type=chunk)[118](index=118&type=chunk) Asset Quality Ratios | Metric | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Nonperforming loans to total loans | 0.78% | 0.76% | | ACL-to-total loans | 1.25% | 1.24% | | ACL-to-non-performing loans | 158.7% | 163.9% | - The securities portfolio decreased by **$25.1 million** (**6.8%**) to **$346.2 million**, partly due to a sale of **$15.1 million** in securities which resulted in a **$531 thousand** realized loss, and accumulated other comprehensive losses increased to **$56.3 million**[132](index=132&type=chunk) - Total deposits decreased by **$65.9 million** (**3.6%**) to **$1.7 billion**, primarily due to cyclical outflows from municipal depositors and a planned reduction in deposit pricing[138](index=138&type=chunk) [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) The Bancorp maintains a strong liquidity position with **$516.4 million** in total available liquidity as of March 31, 2024, and stockholders' equity increased to **$151.6 million** in Q1 2024, with capital ratios remaining well above regulatory minimums, though dividend payments are subject to regulatory approval - As of March 31, 2024, the Bancorp had total available liquidity of **$516.4 million**, including borrowing capacity from the FHLB and Federal Reserve facilities[161](index=161&type=chunk)[162](index=162&type=chunk) Bank Capital Ratios | Ratio | March 31, 2024 | Minimum for Well Capitalized | | :--- | :--- | :--- | | Common Equity Tier 1 Capital | 10.89% | 6.50% | | Tier 1 Capital | 10.89% | 8.00% | | Total Capital | 11.92% | 10.00% | | Tier 1 Leverage | 8.24% | 5.00% | - The Bancorp's ability to pay dividends is dependent on the Bank, which must seek regulatory approval prior to paying cash dividends due to the MOU[170](index=170&type=chunk) [Results of Operations](index=51&type=section&id=Results%20of%20Operations) For Q1 2024, net income was **$9.3 million**, a **314.2%** increase from **$2.2 million** in Q1 2023, driven by a **$10.9 billion** increase in noninterest income primarily from an **$11.8 million** gain on a real estate sale, despite a **19.7%** decrease in net interest income due to rising funding costs Key Performance Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Income (in millions) | $9.3 | $2.2 | | Return on Average Assets (ROA) | 1.77% | 0.43% | | Return on Average Equity (ROE) | 24.97% | 6.42% | - Net interest income decreased by **$2.9 million** (**19.7%**) YoY, as the cost of funds rose to **2.53%** from **1.41%**, outpacing the increase in asset yields[174](index=174&type=chunk) - The tax-adjusted net interest margin compressed to **2.57%** in Q1 2024 from **3.23%** in Q1 2023, primarily due to the higher interest rate environment increasing funding costs[174](index=174&type=chunk)[175](index=175&type=chunk) - Noninterest income surged by **416.7%** to **$13.5 million**, mainly due to an **$11.8 million** gain on the sale of real estate from a sale-leaseback transaction[177](index=177&type=chunk) - Noninterest expense increased by **5.5%** to **$15.0 million**, driven by higher consulting, legal, and operational enhancement costs[179](index=179&type=chunk)[180](index=180&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=53&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is marked as not applicable in the report, with detailed disclosures regarding market risk, primarily interest rate risk, provided within Item 2, Management's Discussion and Analysis - The report states this item is not applicable, with market risk disclosures included in the MD&A section[187](index=187&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the Bancorp's disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the Bancorp's disclosure controls and procedures were effective as of March 31, 2024[188](index=188&type=chunk) - There were no material changes to the internal control over financial reporting during the first quarter of 2024[189](index=189&type=chunk) PART II. Other Information [Legal Proceedings](index=55&type=section&id=Item%201.%20Legal%20Proceedings) The Bancorp and its subsidiaries are involved in routine legal proceedings in the ordinary course of business, which management does not expect to have a material adverse effect on the company's financial position - The company is involved in ordinary course legal proceedings which are not expected to have a material adverse effect on its financial condition[191](index=191&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The Bancorp has a stock repurchase program authorized in 2014 for up to 50,000 shares, with no shares repurchased under this program during Q1 2024, though 2,816 shares were reacquired from employees at an average price of **$24.11** per share to satisfy tax withholding obligations - No shares were repurchased under the publicly announced stock repurchase program during Q1 2024, with **48,828** shares remaining for potential repurchase[193](index=193&type=chunk)[194](index=194&type=chunk) - In March 2024, the company reacquired **2,816** shares from employees at an average price of **$24.11** to cover tax withholding on vested restricted stock awards[194](index=194&type=chunk)[197](index=197&type=chunk)