Finward Bancorp logo

Finward Bancorp

FNWD

NASDAQFinancial ServicesBanks - Regional

Previous close

$43.50

+$0.14 · +0.32%

Aug 21, 4:00 PM ET

FNWD company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

84

Deep Value

Momentum

43

Neutral

Sentiment

61

Bullish

Risk resilience

73

Moderate Risk

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Company profile

Company website

Finward Bancorp serves as the parent entity for Peoples Bank, a financial institution offering a comprehensive suite of banking products and services. Its deposit offerings include various checking accounts, both with and without interest, alongside savings accounts, money market deposit accounts, certificates of deposit, and specialized retirement savings plans. The company's lending activities are diverse, encompassing residential mortgage loans for purchasing, refinancing, or building homes; construction loans provided to individuals and contractors; commercial real estate financing; personal consumer loans for household or family expenditures; home equity lines of credit; home improvement and equity-backed loans; commercial business loans; government-backed loans; and funding for municipalities. Beyond traditional banking, Finward Bancorp delivers a range of wealth management and fiduciary services. These comprise estate and retirement planning, guardianship administration, land trusts, profit-sharing and 401(k) retirement plans, IRA and Keogh accounts, and investment agency accounts. The company also acts as a personal representative for estates and functions as a trustee for both revocable and irrevocable trusts. Additionally, it provides insurance and annuity investment options to its wealth management clients, manages a portfolio of real estate properties, and operates as a real estate investment trust. As of March 2, 2022, the company operated 30 branches situated in Lake and Porter counties in Northwest Indiana, extending into the South Chicagoland area. Originally incorporated in 1994 as NorthWest Indiana Bancorp, the company adopted its current name, Finward Bancorp, in May 2021. Its corporate headquarters are located in Munster, Indiana.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
US
CEO
Benjamin J. Bochnowski
Listed since
May 20, 1998
Employees
307

Market position

Day range

Current $43.50

52-week range

Current $43.50

Open
$44.145
Previous close
$43.36
Volume
6.45K
0.34× average
Average volume
18.86K
Average daily volume
Market cap
188.49M USD
Beta
0.19
Market reference 1
50-day average
$39.5826
+9.90% above average
200-day average
$36.5478
+19.02% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
216.75M USD
EV / EBITDA
15.16×
Earnings yield
5.38%
Free cash flow yield
6.02%

Profitability & efficiency

Return on equity
4.63%
Return on assets
0.40%
Return on invested capital
0.91%

Financial health

Current ratio
1.77×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends103%69%34%-1%Gross margin, FY2021: 94.61%Gross margin, FY2022: 94.15%Gross margin, FY2023: 65.55%Gross margin, FY2024: 64.03%Gross margin, FY2025: 65.55%Operating margin, FY2021: 24.59%Operating margin, FY2022: 19.82%Operating margin, FY2023: 8.33%Operating margin, FY2024: 12.03%Operating margin, FY2025: 8.02%Net margin, FY2021: 22.47%Net margin, FY2022: 18.05%Net margin, FY2023: 8.68%Net margin, FY2024: 10.85%Net margin, FY2025: 8.00%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 94.61%. Gross margin FY2022 94.15%. Gross margin FY2023 65.55%. Gross margin FY2024 64.03%. Gross margin FY2025 65.55%. Operating margin FY2021 24.59%. Operating margin FY2022 19.82%. Operating margin FY2023 8.33%. Operating margin FY2024 12.03%. Operating margin FY2025 8.02%. Net margin FY2021 22.47%. Net margin FY2022 18.05%. Net margin FY2023 8.68%. Net margin FY2024 10.85%. Net margin FY2025 8.00%.

Income trends

Revenue

101.06M USD-9.63%

Operating income

8.11M USD-39.73%

Net income

8.09M USD-33.33%
Income trends across reported periods122.2M USD80.69M USD39.18M USD−2.33M USDRevenue, FY2021: 66.6M USDRevenue, FY2022: 83.54M USDRevenue, FY2023: 96.53M USDRevenue, FY2024: 111.83M USDRevenue, FY2025: 101.06M USDOperating income, FY2021: 16.38M USDOperating income, FY2022: 16.56M USDOperating income, FY2023: 8.05M USDOperating income, FY2024: 13.46M USDOperating income, FY2025: 8.11M USDNet income, FY2021: 14.96M USDNet income, FY2022: 15.08M USDNet income, FY2023: 8.38M USDNet income, FY2024: 12.13M USDNet income, FY2025: 8.09M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 66.6M USD. Revenue FY2022 83.54M USD. Revenue FY2023 96.53M USD. Revenue FY2024 111.83M USD. Revenue FY2025 101.06M USD. Operating income FY2021 16.38M USD. Operating income FY2022 16.56M USD. Operating income FY2023 8.05M USD. Operating income FY2024 13.46M USD. Operating income FY2025 8.11M USD. Net income FY2021 14.96M USD. Net income FY2022 15.08M USD. Net income FY2023 8.38M USD. Net income FY2024 12.13M USD. Net income FY2025 8.09M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue101.06M USD111.83M USD96.53M USD83.54M USD66.6M USD
Cost of goods sold34.82M USD40.23M USD33.25M USD4.89M USD3.59M USD
Gross profit66.25M USD71.6M USD63.28M USD78.66M USD63.01M USD
Selling, general, and administrative32.1M USD30.33M USD30.5M USD32.13M USD26.19M USD
Operating expenses58.14M USD58.14M USD55.23M USD62.1M USD46.64M USD
Interest income91.76M USD89.18M USD85.78M USD72.04M USD50.66M USD
Interest expense35.02M USD40.73M USD31.23M USD4.89M USD2.08M USD
Depreciation and amortization6.19M USD7.29M USD7.16M USD5.97M USD4.56M USD
Operating income8.11M USD13.46M USD8.05M USD16.56M USD16.38M USD
Net income8.09M USD12.13M USD8.38M USD15.08M USD14.96M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
+74.16%
11 comparable reports
Latest EPS result
0.48
Estimate 0.62 · Miss by 22.58%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.870.610.340.08Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 0.49, estimate 0.195, surprise +151.28%, Beat. Q2 2025, reported Apr 30, 2025: actual 0.11, estimate 0.095, surprise +15.79%, Beat. Q3 2025, reported Jul 29, 2025: actual 0.5, estimate 0.26, surprise +92.31%, Beat. Q4 2025, reported Oct 28, 2025: actual 0.81, estimate 0.4, surprise +102.50%, Beat. Q1 2026, reported Jan 27, 2026: actual 0.46, estimate 0.61, surprise -24.59%, Miss. Q2 2026, reported Apr 28, 2026: actual 0.52, estimate 0.535, surprise -2.80%, Miss. Q3 2026, reported Jul 28, 2026: actual 0.48, estimate 0.62, surprise -22.58%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 0.735, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates20.38M18.51M16.63M14.76MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 16.34M USD, estimate 16M USD, surprise +2.12%, Beat. Q2 2025, reported Apr 30, 2025: actual 15.54M USD, estimate 16.25M USD, surprise -4.36%, Miss. Q3 2025, reported Jul 29, 2025: actual 16.63M USD, estimate 16.95M USD, surprise -1.90%, Miss. Q4 2025, reported Oct 28, 2025: actual 17.36M USD, estimate 17.8M USD, surprise -2.49%, Miss. Q1 2026, reported Jan 27, 2026: actual 16.52M USD, estimate 18.25M USD, surprise -9.51%, Miss. Q2 2026, reported Apr 28, 2026: actual 17.49M USD, estimate 18.45M USD, surprise -5.21%, Miss. Q3 2026, reported Jul 28, 2026: actual 17.58M USD, estimate 18.9M USD, surprise -6.99%, Miss. Q4 2026, reported Oct 27, 2026: actual —, estimate 19.6M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Recent analyst actions

2 institutions
Stephens & Co.maintainOverweight
Hovde GroupupgradeMarket PerformOutperform

FNWD news

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$0.48

2025 complete year-61.3% since 2020

2026 partial: $0.24

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 17, 2026

$0.12

Quarterly

Record Jun 17, 2026 · Payment Jun 29, 2026

Dividend

Ex-dividend Mar 16, 2026

$0.12

Quarterly

Record Mar 16, 2026 · Payment Mar 31, 2026

Dividend

Ex-dividend Dec 17, 2025

$0.12

Quarterly

Record Dec 17, 2025 · Payment Dec 30, 2025

Dividend

Ex-dividend Aug 29, 2025

$0.12

Quarterly

Record Aug 29, 2025 · Payment Sep 12, 2025

Dividend

Ex-dividend Apr 28, 2025

$0.12

Quarterly

Record Apr 28, 2025 · Payment May 12, 2025

Dividend

Ex-dividend Jan 21, 2025

$0.12

Quarterly

Record Jan 21, 2025 · Payment Feb 3, 2025

FNWD peers

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