secwatch.observer — SEC 8-K summary
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Issuer:     Finward Bancorp (FNWD)
CIK:        0000919864
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001437749-23-028892
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Finward Bancorp Q3 net income drops to $2.2M ($0.51/sh) from $4.6M; NIM compresses to 2.89%
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- Net income for Q3 2023 was $2.2 million ($0.51 per diluted share), down from $4.6 million ($1.07) in Q3 2022.
- Net interest margin for nine months ended Sept 30, 2023 was 2.89%, down from 3.56% in prior year, due to rate hikes.
- Non-performing loans decreased to $10.1 million (0.66% of loans) from $18.4 million (1.21%) at Dec 31, 2022.
- Tangible book value per share fell to $21.63 from $25.41, driven by $78.8M in AOCI losses from securities portfolio.
- Operating expenses controlled: non-interest expense/average assets improved to 2.67% from 3.04%; reduced FTEs by 17.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/919864/000143774923028892/0001437749-23-028892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/919864/000143774923028892/fnwd20231024_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-028892

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