Finward Bancorp closes sale-leaseback of five branches for $17.2M with MountainSeed

Finward Bancorp

Sold five branch properties to MountainSeed Real Estate Services for $17.2M aggregate purchase price.
Entered into 15-year lease agreements; obligations guaranteed by Finward Bancorp.
No branch closures or market exits as part of the transaction.
Proceeds intended for general corporate purposes, including potential reduction of borrowed funds.
Closed on February 22, 2024; previously announced on Jan 29 Sale Agreement.

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