Finward Bancorp

Finward Bancorp reported a slight decrease in net income for the second quarter of 2026, reaching $2.09 million, down from $2.15 million in the prior year. Basic earnings per share also saw a minor decline to $0.49 from $0.50. Despite these reductions, the company experienced an 8.86% increase in net interest income, reaching $15.18 million, and saw growth in total assets and net loans receivable.

Finward Bancorp reported net income of $2.1 million, or $0.48 per diluted share, for the second quarter of 2026, a slight decrease from the previous quarter. Despite overhead impacts, the company saw continued progress with solid loan growth and stable deposit funding. The net interest margin improved, and the aggregate loan portfolio expanded. However, non-performing loans increased significantly during the quarter. The company also highlighted the announcement of its planned merger with First Financial, which is expected to create a stronger banking organization.

Finward Bancorp announced an agreement to merge with First Financial Bancorp in an all-stock transaction valued at approximately $208 million. Under the terms, Finward shareholders will receive 1.35 shares of First Financial common stock for each Finward share. The merger is expected to be 5% accretive to First Financial's earnings per share and result in a 0.4% dilution to tangible book value per share with a 0.6-year earnback. This strategic acquisition will expand First Financial's presence in northwest Indiana and Chicago, adding Finward's $2.0 billion in assets and 24 locations, and is anticipated to close in Q4 2026.

Finward Bancorp announced that the Memorandum of Understanding (MOU) with its wholly-owned subsidiary, Peoples Bank, has been terminated. The MOU, which was with the Federal Deposit Insurance Corporation (FDIC) and the Indiana Department of Financial Institutions (DFI), was originally established on August 9, 2024. The termination was effective immediately following a letter dated June 24, 2026, from the regulatory bodies.

Finward Bancorp announced that its Board of Directors declared a cash dividend of $0.12 per share on its common stock. The dividend is scheduled for payment on June 29, 2026, to shareholders of record as of June 17, 2026. The company highlighted that the Bank's ability to pay cash dividends is contingent upon demonstrating compliance with a previously disclosed memorandum of understanding with the FDIC and Indiana Department of Financial Institutions, which requires prior regulatory approval.

Finward Bancorp reported a significant increase in net income and earnings per share for the first quarter of 2026. Net income surged to $2.24 million, with basic EPS reaching $0.52, driven by higher net interest income and a substantial reduction in the provision for credit losses. The company also declared a dividend of $0.12 per common share. Total assets and deposits remained relatively stable, while net loans receivable saw a modest increase.

Finward Bancorp announced net income available to common stockholders of $2.2 million, or $0.52 per diluted share, for Q1 2026, up from $2.0 million and $0.46 per diluted share in Q4 2025. The company reported improved profitability, with net interest margin expanding to 3.35% and the efficiency ratio improving to 84.45%. Management noted progress in core earnings trajectory and a renewed focus on customer growth, alongside plans to close two branch locations in Q2 for efficiency. However, total deposits saw a slight decrease, and non-performing loans increased.