---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-021070"
form_type: "8-K"
ticker: "FNWD"
cik: "0000919864"
company_name: "Finward Bancorp"
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T14:33:11.480968+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Finward Bancorp to sell 5 branch properties for $17.2M in sale-leaseback, lease back for 15 years

## Summary
- Purchase price $17.2M for 5 branches; expected closing by third week of Feb 2024.
- Net proceeds above book value ~$11.7M; first-year rent ~$1.5M pre-tax, offset by ~$265K depreciation.
- Initial 15-year leases with 2% annual rent adjustment; properties in Lake County, IN and Cook County, IL.
- Proceeds to be used for general corporate purposes, including potential debt reduction.
- No branch closures or market exits planned.

## SEC filing metadata
- accession: 0001193125-24-021070
- form_type: 8-K
- ticker: FNWD
- cik: 0000919864
- company_name: Finward Bancorp
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/919864/000119312524021070/0001193125-24-021070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/919864/000119312524021070/d748419d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-021070
- JSON: https://secwatch.observer/filing/0001193125-24-021070.json
- Plain text: https://secwatch.observer/filing/0001193125-24-021070.txt

## Key facts
- Material Agreements
  Finward Bancorp entered into Sale Agreement with MountainSeed Real Estate Services, LLC valued at aggregate purchase price of $17.2 million (effective 2024-01-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: MountainSeed Real Estate Services, LLC
  - Value: aggregate purchase price of $17.2 million
  - Effective: 2024-01-29
  source text: On January 29, 2024, Peoples Bank, an Indiana-chartered commercial bank (the “Bank”) and wholly owned subsidiary of Finward Bancorp (the “ Bancorp ,” “ Finward ,” “ we ,” “ us ,” or “ our ”), entered into an agreement for the purchase and sale of property (the “ Sale Agreement ”), with MountainSeed Real Estate Services, LLC (the “ Buyer ”), a Georgia limited liability company, which provides for the sale to the Buyer of 5 properties owned and operated as branch locations by the Bank (the “ Properties ”) for an aggregate purchase price of $17.2 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/919864/000119312524021070/0001193125-24-021070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.