secwatch.observer — SEC 8-K summary
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Issuer:     Finward Bancorp (FNWD)
CIK:        0000919864
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001437749-24-013013
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/919864/000143774924013013/0001437749-24-013013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/919864/000143774924013013/fnwd20240418_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-013013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer