---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-001926"
form_type: "8-K"
ticker: "FNWD"
cik: "0000919864"
company_name: "Finward Bancorp"
filed_at: "2022-01-31T23:59:59+00:00"
generated_at: "2026-06-27T13:54:59.948122+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-22-001926
- form_type: 8-K
- ticker: FNWD
- cik: 0000919864
- company_name: Finward Bancorp
- filed_at: 2022-01-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/919864/000143774922001926/0001437749-22-001926-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/919864/000143774922001926/fnwd20220129_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-001926
- JSON: https://secwatch.observer/filing/0001437749-22-001926.json
- Plain text: https://secwatch.observer/filing/0001437749-22-001926.txt

## Key facts
- Executive change
  Edward J. Furticella departed as Director at Finward Bancorp.
  - Action: retire
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/919864/000143774922001926/0001437749-22-001926-index.htm
- Executive change
  Robert W. Youman was appointed as Director at Finward Bancorp.
  - Action: appointed
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/919864/000143774922001926/0001437749-22-001926-index.htm

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