Finward Bancorp Q2 net income falls to $2.4M from $4.4M YoY; NIM compresses

Finward Bancorp

2023-Q2 EPS reported $1.10

Q2 2023 net income $2.4M ($0.57 diluted EPS) vs $4.4M ($1.04) in Q2 2022.
Net interest margin for H1 2023 compressed to 2.98% from 3.50% in H1 2022.
Non-performing loans fell to $12.3M (0.80% of loans) from $18.4M (1.21%) at Dec '22.
Deposits grew to $1.80B; core deposits declined 8.6% as customers sought higher yields.
Personnel reduced by 21 FTEs (7%); two banking centers sold generating $276K gain.

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 quarter and six months ending June 30, 2023 results: net income $4.7 million, EPS $1.09 per diluted share.

Period: the quarter and six months ending June 30, 2023
Net income: $4.7 million
EPS: $1.09 per diluted share
Result: reported results

Exact text from the filing

Finward Bancorp (the “Bancorp”) issued a press release reporting its unaudited financial results for the quarter and six months ending June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-020651

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