Finward Bancorp ( (FNWD) ) has released its Q1 earnings. Here is a breakdown of the information Finward Bancorp presented to its investors.
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Finward Bancorp, headquartered in Munster, Indiana, is a financial holding company primarily engaged in providing a wide range of personal, business, electronic, and wealth management financial services through its subsidiary, Peoples Bank, across Northwest Indiana and Chicagoland. The company is listed on NASDAQ under the symbol FNWD.
In the first quarter of 2025, Finward Bancorp reported a significant decline in net income available to common stockholders, amounting to $456 thousand or $0.11 per diluted share, compared to $2.1 million or $0.49 per diluted share in the previous quarter, and $9.3 million or $2.17 per diluted share in the same quarter last year. Despite the drop in earnings, the company saw an improvement in its net interest margin, which increased to 2.95% from 2.79% in the previous quarter.
Key financial metrics highlighted in the report include a decrease in total deposits by $10.2 million to $1.8 billion, with non-interest-bearing deposits increasing by $18.1 million. The company’s loan portfolio remained stable at $1.5 billion, with new commercial loan originations rising to $36.7 million. Asset quality showed improvement with non-performing loans decreasing by 9.1% to $12.5 million. However, the efficiency ratio worsened to 93.11% from 87.20% in the previous quarter, indicating higher operating expenses relative to revenue.
Looking ahead, Finward Bancorp’s management remains focused on capital and credit quality, with an emphasis on improving operating results and serving its customers and communities. The company aims to leverage opportunities in operating expenses and non-interest income as the year progresses, amidst economic uncertainties.