Finward Bancorp Q4 2022 net income $4.0M, core EPS $1.08; full-year core net income $17.3M

Finward Bancorp

2022-FY EPS reported $3.60

Q4 net income $4.0M ($0.93 diluted EPS) vs $3.3M ($0.95) Q4 2021; full-year net income $15.1M ($3.60) vs $15.0M ($4.30).
Core net income full-year $17.3M ($4.12 diluted) vs $13.4M ($3.84) prior year, driven by Royal acquisition and organic loan growth.
Net interest margin (tax‑adj.) 3.74% for 2022 vs 3.51% in 2021; Q4 margin contracted to 3.73% as funding costs rose.
Organic loan growth (ex‑Royal) $96.5M (10.0%); total loans $1.5B (+56.6% YoY).
Branches closed: 5 in 2022, reducing footprint 16%; headcount reduced 12 FTEs (4%) in Q4.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Finward Bancorp reported the twelve months ended December 31, 2022 results: net income $15.1 million, EPS $3.60 per diluted share.

Period: the twelve months ended December 31, 2022
Net income: $15.1 million
EPS: $3.60 per diluted share
Result: reported results

Exact text from the filing

net income available to common shareholders was $15.1 million, or $3.60 per diluted share, for the twelve months ended December 31, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Finward Bancorp reported the quarter ended December 31, 2022 results: net income $4.0 million, EPS $0.93 per diluted share.

Period: the quarter ended December 31, 2022
Net income: $4.0 million
EPS: $0.93 per diluted share
Result: reported results

Exact text from the filing

For the quarter ended December 31, 2022, the Bancorp’s net income totaled $4.0 million, or $0.93 per diluted share, as compared to $3.3 million, or $0.95 per diluted share, for the quarter ending December 31, 2021.

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Source: SEC EDGAR

accession 0001437749-23-001715

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