Finward Bancorp Q1 net income $9.3M ($2.17 EPS); $11.8M pre-tax gain from sale-leaseback

Finward Bancorp

2024-Q1 EPS reported $2.17

Net income available to common $9.3M, $2.17 diluted EPS vs $2.2M, $0.51 prior year.
Pre-tax non-interest income gain of ~$11.8M from sale-leaseback of five branches for $17.2M.
Net interest margin 2.42% (quarter) vs 3.07% a year ago; deposits down 3.6% to $1.7B.
Tangible book value $29.30/share, up from $28.31; Tier 1 capital ratio improved to 8.24%.
Non-performing loans $11.8M, 0.78% of loans; allowance coverage ratio 159.1%.

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 0.97

Finward Bancorp reported for the quarter ended March 31, 2024 results: net income $9.3 million, EPS $2.17 per diluted share.

Period: for the quarter ended March 31, 2024
Net income: $9.3 million
EPS: $2.17 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 stockholders was $9.3 million, or $2.17 per diluted share, for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001437749-24-013013

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