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FNWD

Finward Bancorp

FNWD

Finward Bancorp • NASDAQ
$38.01 ▲ 0.01% (+0.01)
Market Cap $164.45 M
52w High $38.49
52w Low $26.12
Dividend Yield 0.36%
P/E 19.9
Volume 26.45K
Outstanding Shares 4.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $0 ▼ $0 ▼ 0% ▼ $0.82 ▲ $1.453M ▼
Q2-2025 $25.353M ▲ $14.786M ▲ $2.151M ▲ 8.484% ▲ $0.5 ▲ $3.747M ▲
Q1-2025 $24.57M ▼ $14.472M ▲ $455K ▼ 1.852% ▼ $0.11 ▼ $2.216M ▼
Q4-2024 $26.326M ▲ $14.247M ▼ $2.101M ▲ 7.981% ▲ $0.49 ▲ $4.429M ▲
Q3-2024 $25.339M $14.474M $606K 2.392% $0.14 $2.495M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 ▼ $2.053B ▼ $1.887B ▼ $165.495M ▲
Q2-2025 $103.748M ▲ $2.058B ▲ $1.904B ▲ $154.253M ▲
Q1-2025 $71.392M ▼ $2.04B ▼ $1.888B ▼ $151.807M ▲
Q4-2024 $404.138M ▼ $2.061B ▼ $1.909B ▼ $151.414M ▼
Q3-2024 $421.123M $2.075B $1.915B $159.555M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.497M ▲ $1.2M ▼ $14.338M ▲ $-14.774M ▼ $764K ▼ $1.661M ▼
Q2-2025 $2.151M ▲ $4.769M ▲ $10.193M ▼ $16.085M ▲ $31.047M ▲ $4.491M ▲
Q1-2025 $455K ▼ $-3.809M ▼ $19.698M ▲ $-14.106M ▼ $1.783M ▲ $-3.992M ▼
Q4-2024 $2.102M ▲ $10.805M ▲ $-183K ▼ $-11.687M ▼ $-1.065M ▲ $10.583M ▲
Q3-2024 $606K $-3.725M $568K $-8.401M $-11.558M $-4.233M

Five-Year Company Overview

Income Statement

Income Statement Finward shows a steady, slow climb in revenue over the past few years, with profitability remaining positive every year. However, earnings have been a bit uneven: they were stronger a few years ago, dipped more recently, and then improved again in the latest year without fully returning to prior peaks. Overall, this looks like a traditional community bank: not fast-growing, but generally stable, with profits that move around as interest rates, credit costs, and funding costs change.

Balance Sheet

Balance Sheet The balance sheet has grown over time, reflecting a larger loan and asset base than a few years back, though total assets have eased slightly from their recent high. Cash on hand is modest but better than it used to be, while borrowings have increased compared with earlier years, which means the bank is using more debt funding than before. Equity has held fairly steady, suggesting a consistent capital base, but the higher reliance on debt and a larger balance sheet mean risk management and credit quality will be important areas to watch.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive, which is a good sign for a bank of this size. Free cash flow is also positive each year, and there is little visible spending on physical investments, which is normal for a service-focused financial institution. The pattern suggests a relatively steady cash profile without large swings, though, as with all banks, the quality of the loan book and funding sources matters more than traditional cash flow metrics alone.

Competitive Edge

Competitive Edge Finward is firmly positioned as a community and regional bank, with strength rooted in local relationships, knowledge of its markets, and a reputation for supporting small businesses. Its recognition for small business lending and long-standing presence in Northwest Indiana and the Chicagoland area reinforce that advantage. On the other hand, it competes against much larger banks and digital-first players with far greater resources, especially in technology and marketing, so its edge depends heavily on service, speed of local decision-making, and its brand as a community partner rather than on scale.

Innovation and R&D

Innovation and R&D Innovation at Finward is practical and incremental rather than disruptive. The bank offers the expected digital banking tools—online and mobile access, mobile deposits, Zelle, and business cash management—plus some enhancements like interactive video teller machines and fraud-prevention tools for business clients. These keep the bank competitive but are not unique in the industry. Looking ahead, its ability to partner with fintechs, upgrade digital experiences, and build on its small-business niche will likely matter more than any one new product, especially given its much smaller technology budget compared with big banks.

Summary

Finward Bancorp comes across as a steady, relationship-driven regional bank: modest growth, consistent profitability, and reliable cash generation, built on deep community roots. Its main strengths are its local focus, customer relationships, and small-business lending expertise, not rapid expansion or cutting-edge technology. The main balancing factors are higher use of debt funding than in the past, earnings that have fluctuated with the environment, and the challenge of keeping up with ongoing digital innovation in banking. Future performance will likely hinge on how well it manages credit risk in its local markets and how effectively it upgrades and extends its digital and business-banking capabilities without stretching its resources.

NEWS

October 28, 2025 · 5:30 PM UTC

Finward Bancorp Announces Third Quarter 2025 Results

Read more