---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-011074"
form_type: "8-K"
ticker: "FNWD"
cik: "0000919864"
company_name: "Finward Bancorp"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T15:06:18.374093+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-011074
- form_type: 8-K
- ticker: FNWD
- cik: 0000919864
- company_name: Finward Bancorp
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/919864/000143774923011074/0001437749-23-011074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/919864/000143774923011074/fnwd20230425_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-011074
- JSON: https://secwatch.observer/filing/0001437749-23-011074.json
- Plain text: https://secwatch.observer/filing/0001437749-23-011074.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/919864/000143774923011074/0001437749-23-011074-index.htm

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