---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002554"
form_type: "8-K"
ticker: "FNWD"
cik: "0000919864"
company_name: "Finward Bancorp"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:39:12.679002+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Finward Bancorp FY2023 net income $8.4M ($1.96/dil.) vs $15.1M; sale-leaseback for $17.2M

## Summary
- Net income 2023: $8.4M ($1.96/dil.) vs $15.1M ($3.60/dil.) in 2022; Q4 2023 net income $1.5M ($0.35/dil.) vs $4.0M ($0.93/dil.).
- Net interest margin fell to 2.83% from 3.56% due to rising short-term rates relative to long-term rates.
- Non-performing loans decreased to $11.5M (0.76% of loans) from $18.4M (1.21%) aided by a $5.4M substandard loan sale in December.
- Sale-leaseback of 5 branches for $17.2M expected close by Feb 2024; estimated ~$11.7M gain exceeding book value, initial annual rent $1.5M.
- Tangible book value per share rose to $28.31 from $25.41; bank remains well-capitalized with tier 1 leverage ratio 7.8%.

## SEC filing metadata
- accession: 0001437749-24-002554
- form_type: 8-K
- ticker: FNWD
- cik: 0000919864
- company_name: Finward Bancorp
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/919864/000143774924002554/0001437749-24-002554-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/919864/000143774924002554/fnwd20240126_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002554
- JSON: https://secwatch.observer/filing/0001437749-24-002554.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002554.txt

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