Finward Bancorp Q1 net income $2.2M ($0.51/diluted); net interest margin compresses to 3.07%

Finward Bancorp

2023-Q1 EPS reported $0.51

Net income available to common shareholders $2.2M ($0.51/diluted) vs $2.1M ($0.53) in Q1 2022.
Net interest margin fell to 3.07% from 3.41% YoY; core deposits decreased $77.2M (5.5%) from Dec 2022.
Unrealized losses on securities improved to $55.9M from $64.3M; tangible book value per share rose to $26.68.
Non-performing loans increased to $20.7M (1.36% of loans) from $18.4M; ACL at 1.29% of loans.
Headcount reduced by 9 FTEs (3%); sold a branch for $231k gain; another branch sold post-quarter for $45k.

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 0.95

Finward Bancorp reported the quarter ended March 31, 2023 results: net income $2.2 million, EPS $0.51 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $2.2 million
EPS: $0.51 per diluted share
Result: reported results

Exact text from the filing

Finward Bancorp (Nasdaq: FNWD) (the “Bancorp”), the holding company for Peoples Bank (the “Bank”), today announced that net income available to common shareholders was $2.2 million, or $0.51 per diluted share, for the quarter ended March 31, 2023, as compared to $2.1 million, or $0.53 per diluted share, for the corresponding prior year period.

View on SEC.gov

Browse all earnings releases →

Finward Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-23-011074

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.