Finward Bancorp Q2 net income plunges to $0.03 EPS from $0.57 YoY

Finward Bancorp

2024-Q2 EPS reported $2.21

Net income $143k ($0.03 diluted EPS) vs $2.4M ($0.57) in Q2 2023; six-month net income $9.4M ($2.21).
Tax-adjusted NIM improved to 2.67% from 2.57% QoQ; asset yields increasing as loans reprice higher.
Deposits grew to $1.8B (+$9.2M QoQ); BTFP balance reduced to $60M from $65M.
Non-performing loans fell to $11.4M (0.75% of loans); ACL coverage ratio 161.2%.
Tangible book value per share $28.67 (down from $29.30); Bank remains well capitalized.

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