Finward Bancorp completes $56.7M acquisition of Royal Financial, Inc.

Finward Bancorp

Completed acquisition of Royal Financial for ~$56.7M in stock and cash; issued 795,423 shares and paid ~$18.7M cash.
Post-merger pro forma assets ~$2.2B, loans $1.4B, deposits $1.9B; 30 banking centers in Chicagoland.
Robert W. Youman appointed to Finward and Peoples Bank boards; Edward J. Furticella to retire at 2022 annual meeting.
Royal Savings Bank branches to operate under Peoples Bank name after systems integration in April 2022.

item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Edward J. Furticella

Director

FNWD · Finward Bancorp

Filed: January 31, 2022, 6:59 PM ET

On January 28, 2022, Edward J. Furticella notified the board of directors of Finward (the “ Board ”) of his intent to retire from the Board and not to stand for re-election as a Class I director of Finward upon the expiration of his current term, which expires at Finward’s 2022 annual meeting of shareholders.

Appointed

Robert W. Youman

Director

FNWD · Finward Bancorp

Effective: 2022-01-31
Filed: January 31, 2022, 6:59 PM ET

Robert W. Youman, a former member of the board of directors of Royal Financial, was appointed to the board of directors of Finward and Peoples Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Edward J. Furticella departed as Director at Finward Bancorp.

Action: retire
Role: Director

Exact text from the filing

On January 28, 2022, Edward J. Furticella notified the board of directors of Finward (the “ Board ”) of his intent to retire from the Board and not to stand for re-election as a Class I director of Finward upon the expiration of his current term, which expires at Finward’s 2022 annual meeting of shareholders.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert W. Youman was appointed as Director at Finward Bancorp.

Action: appointed
Role: Director

Exact text from the filing

Robert W. Youman, a former member of the board of directors of Royal Financial, was appointed to the board of directors of Finward and Peoples Bank.

View on SEC.gov

Finward Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-22-001926

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