Form 8-K

8-K — Finward Bancorp

Accession: 0001628280-26-050219

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0000919864

SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — fnwd-20260728.htm (Primary)

EX-99.1 (fnwd-2026630xexx991er.htm)

GRAPHIC (finward_rgb.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: fnwd-20260728.htm · Sequence: 1

fnwd-20260728

false000091986400009198642026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

FINWARD BANCORP

(Exact name of registrant as specified in its charter)

Indiana 001-40999 35-1927981

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

9204 Columbia Avenue

Munster, Indiana 46321

(Address of principal executive offices) (Zip Code)

(219) 836-4400

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, no par value FNWD The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition

On July 28, 2026, Finward Bancorp (the “Bancorp”) issued a press release reporting its unaudited financial results for the quarter ended June 30, 2026. A copy of the press release is filed as Exhibit 99.1 to this report and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is being “furnished” and will not, except to the extent required by applicable law or regulation, be deemed “filed” by the Bancorp for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor will any of such information or exhibits be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

99.1

Earnings release for the quarter ended June 30, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 28, 2026

FINWARD BANCORP

By: /s/ Benjamin L. Schmitt

Name: Benjamin L. Schmitt

Title: Executive Vice President, Chief Financial Officer and Treasurer

EX-99.1

Filename: fnwd-2026630xexx991er.htm · Sequence: 2

FNWD-2026.6.30-EX-99.1 ER

Exhibit 99.1

July 28, 2026

Finward Bancorp Announces Second Quarter 2026 Results

Munster, Indiana - Finward Bancorp (Nasdaq: FNWD) (the “Bancorp”), the holding company for Peoples Bank (the

“Bank”), today announced that net income available to common stockholders was $2.1 million, or $0.48 per diluted share,

for the quarter ended June 30, 2026, as compared to $2.2 million, or $0.52 per diluted share, for the quarter ended

March 31, 2026. Selected performance metrics are as follows for the periods presented:

Performance Ratios

Quarter ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Return on equity

4.74%

5.00%

4.66%

8.96%

5.66%

Return on assets

0.42%

0.44%

0.39%

0.68%

0.42%

Net interest margin, tax-equivalent (non-GAAP)

3.37%

3.35%

3.32%

3.18%

3.11%

Non-interest income/average assets

0.48%

0.29%

0.57%

0.53%

Non-interest expense/average assets

2.95%

2.93%

2.90%

2.74%

2.90%

Efficiency ratio

84.52%

84.45%

89.50%

81.22%

88.92%

"Despite overhead impacts from merger-related expenses and a previously disclosed branch closure, we showed continued

progress in key areas this quarter. Results were supported by solid loan growth, stable deposit funding, and continued

momentum across the organization. These results reflect the dedication of our team and the strength of the relationships we

have built throughout Northwest Indiana and Chicagoland, and I am proud of what our team has accomplished together,"

said Benjamin Bochnowski, Chief Executive Officer. "The quarter was also highlighted by the announcement of our

planned merger with First Financial. This transaction recognizes the value of our franchise and positions our customers,

employees, communities, and shareholders to benefit from an even stronger banking organization in the years ahead. While

we are excited about the opportunities this partnership creates, our near-term priorities are clear: serving customers,

maintaining strong credit quality, and preparing for a successful combination with First Financial."

Highlights of the current period include:

•Net Interest Margin - The net interest margin for the quarter ended June 30, 2026 was 3.25% compared to 3.23% for

the quarter ended March 31, 2026. Net interest margin on a tax-equivalent basis (a non-GAAP measure) for the quarter

ended June 30, 2026 was 3.37%, as compared to 3.35% for the quarter ended March 31, 2026. Net interest margin

increased from the prior quarter primarily due to continued repricing and maturity of the existing loan portfolio, as

well as strength in new loan originations.

•Funding - As of June 30, 2026, deposits totaled $1.73 billion, an increase of $13.5 million, or 0.8% compared with

March 31, 2026 balances, which totaled $1.72 billion. As of June 30, 2026, non-interest-bearing deposits totaled

$270.7 million, a decrease of $8.0 million. Core deposits totaled $1.2 billion at both June 30, 2026 and March 31,

2026. Core deposits include checking, savings, and money market accounts and represented 71.3% of the Bancorp’s

total deposits at June 30, 2026. As of June 30, 2026, balances for certificates of deposit totaled $497.4 million,

compared to $488.8 million on March 31, 2026, an increase of $8.6 million or 1.8%. The increase in total portfolio

deposits is primarily related to cyclical flows and continued adjustments to deposit pricing. In addition, as of June 30,

2026, borrowings, federal funds purchased and repurchase agreements totaled $95.3 million, an increase of $4.5

million or 4.9%, compared to March 31, 2026. The increase in borrowings was primarily attributable to new FHLB

advances in conjunction with increased loan origination during the quarter.

As of June 30, 2026, 72.5% of our deposits are fully FDIC insured, and another 7.8% are further backed by the Indiana

Public Deposit Insurance Fund. The Bancorp’s liquidity position remains strong with solid core deposit customer

relationships, excess cash, debt securities, contractual loan repayments, and access to diversified borrowing sources.

As of June 30, 2026, the Bancorp had available liquidity of $604 million including borrowing capacity from the FHLB

and Federal Reserve facilities.

Exhibit 99.1

•Securities Portfolio - Securities available for sale balances increased by $2.5 million to $310.2 million as of June 30,

2026, compared to $307.7 million as of March 31, 2026. The yield on the securities portfolio increased to 2.27% for

the three months ended June 30, 2026 from 2.22% for the three months ended March 31, 2026. The increase in

securities available for sale was primarily attributable to a decrease in the negative fair value adjustment to securities.

The Bank did not sell or purchase any securities during the quarter.

•Lending - The Bank’s aggregate loan portfolio totaled $1.50 billion on June 30, 2026 and $1.46 billion on March 31,

2026. During the three months ended June 30, 2026, the Bank originated $81.3 million in new commercial loans,

compared to $37.4 million during the three months ended March 31, 2026, based on strength experienced in the

lending pipeline, specifically within commercial business and commercial real estate portfolios. At June 30, 2026, the

Bancorp’s portfolio loan balances in commercial real estate owner occupied properties totaled $262.4 million or 17.4%

of loans receivable and commercial real estate non-owner occupied properties totaled $334.9 million or 22.3% of loans

receivable. Of the $334.9 million in commercial real estate non-owner occupied properties balances, loans

collateralized by office buildings represented $41.2 million or 2.7% of total loan balances.

•Asset Quality - At June 30, 2026, non-performing loans totaled $16.5 million, compared to $12.4 million at March 31,

2026, an increase of $4.2 million or 33.8%. The Bank’s ratio of non-performing loans to total loans was 1.10% at

June 30, 2026, compared to 0.85% at March 31, 2026. The Bank’s ratio of non-performing assets to total assets was

0.90% at June 30, 2026 and 0.71% at March 31, 2026. The non-performing balance increases are driven by a variety of

credits and not due to concentrations or an indication of overall economic stress within our customer base or footprint.

The increase in non-performers consisted of twelve loans from eleven different relationships, averaging $417 thousand

per loan across commercial real estate, multifamily and residential real estate. Management maintains a vigilant

oversight of nonperforming loans through proactive relationship management. The Bank has no known credit

exposures to non-depositary financial institutions at this time.

The allowance for credit losses (ACL) on loans totaled $17.7 million at June 30, 2026, or 1.18% of total loans

receivable, compared to $17.3 million at March 31, 2026, or 1.19% of total loans receivable, an increase of $409

thousand or 2.37%. The Bank's unused commitment reserve, included in other liabilities, totaled $1.9 million at

June 30, 2026, compared to $2.0 million at March 31, 2026, a decrease of $114 thousand or 5.6%.

For the quarter ended June 30, 2026, the Bank recorded a net provision for credit loss totaling $264 thousand based on

quarterly growth in certain loan segment balances and other factors within the Bank's ACL modeling. The second

quarter's provision consisted of a $378 thousand provision for credit losses on loans, and a $114 thousand reversal of

credit losses on unused commitments. For the quarter ended June 30, 2026, net loan recoveries totaled $31 thousand,

compared to net loan recoveries of $3 thousand for the quarter ended March 31, 2026. The allowance for credit losses

as a percentage of non-performing loans, or coverage ratio, was 106.9% at June 30, 2026, compared to 139.7% at

March 31, 2026.

•Operating Income and Expenses - Non-interest income as a percentage of average assets was 0.48% for both the

quarter ended June 30, 2026 and March 31, 2026. Total non-interest expense increased slightly from the prior quarter,

while non-interest expense as a percentage of average assets was 2.95% for the quarter ended June 30, 2026, as

compared to 2.93% for the quarter ended March 31, 2026. The aggregate reduction in non-interest income as

compared to the prior quarter was due to a $180 thousand loss associated with the closure of one of the Bancorp's

leased branch locations. The increase in non-interest expense quarter over quarter was primarily attributable to

compensation and benefits and seasonality of certain professional and outside services expenses.

•Capital Adequacy - The Bank’s tier 1 leverage ratio was 9.31% as of June 30, 2026 and 9.24% as of March 31, 2026.

The Bank’s capital continues to exceed all applicable regulatory capital requirements. The Bancorp’s tangible book

value per share (non-GAAP) was $35.75 at June 30, 2026, up from $34.39 as of March 31, 2026. Tangible common

equity to tangible assets (non-GAAP) was 7.68% at June 30, 2026, up from 7.48% as of March 31, 2026.

Exhibit 99.1

Disclosures Regarding Non-GAAP Financial Measures

Reported amounts are presented in accordance with GAAP. In this press release, the Bancorp also provides certain

financial measures identified as non-GAAP. The Bancorp’s management believes that the non-GAAP information, which

consists of tangible common equity, tangible book value per share, tangible common equity/tangible assets, net interest

margin on a tax-equivalent basis, and efficiency ratio which can vary from period to period, provides a better comparison

of period to period operating performance. The net interest income and net interest margin on a tax-equivalent basis

measures recognize the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on

tax-exempt securities and loans are presented using the current federal corporate income tax rate of 21%. Management

believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully

tax-equivalent basis and that it may enhance comparability for peer comparison purposes. Additionally, the Bancorp

believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and,

therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial

results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be

presented by other companies. Refer to the "Reconciliation of non-GAAP Financial Measures" below for more

information.

About Finward Bancorp

Finward Bancorp is a locally managed and independent financial holding company headquartered in Munster, Indiana,

whose activities are primarily limited to holding the stock of Peoples Bank. Peoples Bank provides a wide range of

personal, business, electronic and wealth management financial services from its 24 locations in Lake and Porter Counties

in Northwest Indiana and Chicagoland. Finward Bancorp’s common stock is quoted on The NASDAQ Stock Market, LLC

under the symbol FNWD. The website ibankpeoples.com provides information on Peoples Bank’s products and services,

and Finward Bancorp’s investor relations.

Forward Looking Statements

This press release may contain forward-looking statements regarding the financial performance, business prospects, growth

and operating strategies of the Bancorp. For these statements, the Bancorp claims the protections of the safe harbor for

forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this

communication should be considered in conjunction with the other information available about the Bancorp, including the

information in the filings the Bancorp makes with the SEC. Forward-looking statements provide current expectations or

forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on

management’s expectations and are subject to a number of risks and uncertainties. Forward-looking statements are

typically identified by using words such as “anticipate,” “estimate,” “project,” “intend,” “plan,” “believe,” “will” and

similar expressions in connection with any discussion of future operating or financial performance.

Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual

results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause

actual results to differ materially include: changes in domestic and international trade policies, including tariffs and other

non-tariff barriers, and the effects of such changes on the Bank and its customers; risks related to the development and use

of artificial intelligence (AI); changes in asset quality and credit risk; the inability to sustain revenue and earnings growth;

changes in interest rates, market liquidity, and capital markets, as well as the magnitude of such changes, which may

reduce net interest margins; inflation; further deterioration in the market value of securities held in the Bancorp’s

investment securities portfolio, whether as a result of macroeconomic factors or otherwise; customer acceptance of the

Bancorp’s products and services; customer borrowing, repayment, investment, and deposit practices; customer

disintermediation; the introduction, withdrawal, success, and timing of business initiatives; competitive conditions; the

inability to realize cost savings or revenues or to implement integration plans and other consequences associated with

mergers, acquisitions, and divestitures; economic conditions; and the impact, extent, and timing of technological changes,

capital management activities, regulatory actions by the Federal Deposit Insurance Corporation and Indiana Department of

Financial Institutions, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms.

Additional factors that could cause actual results to differ materially from those expressed in the forward-looking

statements are discussed in the Bancorp’s reports (such as the Annual Report on Form 10-K, Quarterly Reports on Form

10-Q, and Current Reports on Form 8-K) filed with the SEC and available at the SEC’s Internet website (www.sec.gov).

All subsequent written and oral forward-looking statements concerning matters attributable to the Bancorp or any person

acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Except as required by law,

The Bancorp does not undertake any obligation to update any forward-looking statement to reflect circumstances or events

that occur after the date the forward-looking statement is made.

Exhibit 99.1

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends

or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts

of strategic initiatives, market conditions, and regulatory and accounting considerations, as well as any other factors that

our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will

repurchase shares or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or

dividends.

FOR FURTHER INFORMATION

CONTACT SHAREHOLDER SERVICES

(219) 853-7575

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Performance Ratios

Quarter Ended

Six Months Ended

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026

6/30/2025

Return on equity

4.74%

5.00%

4.66%

8.96%

5.66%

4.87%

3.39%

Return on assets

0.42%

0.44%

0.39%

0.68%

0.42%

0.43%

0.25%

Yield on loans

5.55%

5.50%

5.64%

5.49%

5.36%

5.53%

5.31%

Yield on security investments

2.27%

2.22%

2.29%

2.40%

2.42%

2.25%

2.40%

Total yield on earning assets

4.93%

4.86%

4.96%

4.91%

4.82%

4.90%

4.77%

Cost of interest-bearing deposits

1.98%

1.92%

2.09%

2.16%

2.12%

1.95%

2.14%

Cost of federal funds purchased and repurchase

agreements

2.82%

2.85%

3.12%

3.37%

3.32%

2.84%

3.34%

Cost of borrowed funds

3.80%

3.70%

3.64%

3.91%

3.75%

4.01%

Total cost of interest-bearing liabilities

2.06%

2.00%

2.16%

2.25%

2.22%

2.03%

2.25%

Net interest margin

3.25%

3.23%

3.18%

3.04%

2.97%

3.24%

2.89%

Net interest margin, tax-equivalent (non-GAAP) (1)

3.37%

3.35%

3.32%

3.18%

3.11%

3.36%

3.03%

Non-interest income/average assets

0.48%

0.29%

0.57%

0.53%

0.48%

Non-interest expense/average assets

2.95%

2.93%

2.90%

2.74%

2.90%

2.95%

2.86%

Efficiency ratio (non-GAAP) (1)

84.52%

84.45%

89.50%

81.22%

88.92%

84.48%

90.95%

Non-performing assets to total assets

0.90%

0.71%

0.65%

0.76%

0.74%

0.90%

0.74%

Non-performing loans to total loans

1.10%

0.85%

0.77%

0.94%

0.91%

1.10%

0.91%

Allowance for credit losses to non-performing loans

106.92%

139.72%

156.84%

129.41%

133.01%

106.92%

133.01%

Allowance for credit losses to loans receivable

1.18%

1.19%

1.21%

1.22%

1.18%

1.22%

Net charge-offs (recoveries) as a percentage of average

loans receivable

(0.01%)

0.00%

0.08%

0.07%

(0.11%)

(0.01)%

(0.05)%

Basic earnings per share

$0.49

$0.52

$0.46

$0.82

$0.50

$1.01

$0.61

Diluted earnings per share

$0.48

$0.52

$0.46

$0.81

$0.50

$1.00

$0.61

Weighted average common shares outstanding—basic

4,280,844

4,276,530

4,273,421

4,273,022

4,271,952

4,278,699

4,269,478

Weighted average common shares outstanding—diluted

4,319,052

4,302,206

4,301,462

4,299,007

4,291,319

4,316,606

4,287,877

Stockholders' equity to total assets

8.74%

8.56%

8.64%

8.06%

7.48%

8.74%

7.48%

Tangible common equity to tangible assets (non-GAAP)

(1)

7.68%

7.48%

7.56%

6.99%

6.41%

7.68%

6.41%

Book value per share

$41.15

$39.81

$40.37

$38.24

$35.67

$41.15

$35.67

Tangible common book value per share (non-GAAP) (1)

$35.75

$34.39

$34.92

$32.77

$30.16

$35.75

$30.16

Closing stock price

$36.78

$36.30

$35.19

$32.09

$27.62

$35.19

$27.62

Dividends declared per common share

$0.12

$0.24

$0.12

(1)See the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures on pg 13.

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Average Balances, Interest, Rates

Quarter Ended

June 30, 2026

March 31, 2026

December 31, 2025

(Dollars in thousands)

Average

Balance

Interest

Yield/

Rate

Average

Balance

Interest

Yield/

Rate

Average

Balance

Interest

Yield/Rate

ASSETS

Interest bearing deposits in other

financial institutions

$78,886

$718

3.64%

$96,250

$949

3.94%

$100,035

$903

3.61%

Federal funds sold

1,046

3.06%

1,523

2.89%

1,113

3.59%

Securities available-for-sale

309,251

1,757

2.27%

318,670

1,771

2.22%

327,747

1,877

2.29%

Loans receivable

1,474,063

20,468

5.55%

1,445,921

19,871

5.50%

1,454,174

20,496

5.64%

Federal Home Loan Bank stock

6,547

114

6.97%

6,547

119

7.27%

6,547

126

7.70%

Total interest earning assets

1,869,793

$23,065

4.93%

1,868,911

$22,721

4.86%

1,889,616

$23,412

4.96%

Cash and non-interest bearing

deposits in other financial

institutions

15,504

21,331

23,385

Allowance for credit losses

(17,418)

(17,608)

(18,049)

Other non-interest bearing assets

143,484

143,452

146,675

Total assets

$2,011,363

$2,016,086

$2,041,627

LIABILITIES AND

STOCKHOLDERS' EQUITY

Interest-bearing deposits

$1,446,072

$7,159

1.98%

$1,447,994

$6,959

1.92%

$1,458,748

$7,605

2.09%

Federal funds purchased and

repurchase agreements

33,076

233

2.82%

38,113

272

2.85%

40,968

317

3.10%

Borrowed funds

51,925

493

3.80%

45,334

419

3.70%

48,089

448

3.73%

Total interest bearing liabilities

1,531,073

$7,885

2.06%

1,531,441

$7,650

2.00%

1,547,805

$8,370

2.16%

Non-interest bearing deposits

268,540

270,626

288,073

Other non-interest bearing

liabilities

35,243

34,588

35,588

Total liabilities

1,834,856

1,836,655

1,871,466

Total stockholders' equity

176,507

179,431

170,161

Total liabilities and

stockholders' equity

$2,011,363

$2,016,086

$2,041,627

Net interest income

$15,180

$15,071

$15,042

Return on average assets

0.42%

0.44%

0.39%

Return on average equity

4.74%

5.00%

4.66%

Net interest margin

3.25%

3.23%

3.18%

Net interest margin, tax-equivalent

(non-GAAP)(1)

3.37%

3.35%

3.32%

Net interest spread

2.87%

2.86%

2.80%

Ratio of interest-earning assets to

interest-bearing liabilities

1.22x

(1)See the reconciliation of non-GAAP measures to the most directly comparable GAAP measures on pg 13.

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Consolidated Balance Sheets

As of

(Dollars in thousands)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

ASSETS

Cash and non-interest bearing deposits in other financial institutions

$17,384

$15,758

$18,265

$19,458

$23,027

Interest bearing deposits in other financial institutions

76,270

102,997

101,382

84,157

79,976

Federal funds sold

988

563

411

Total cash and cash equivalents

94,642

118,755

119,647

104,178

103,414

Securities available-for-sale

310,198

307,686

316,227

335,150

327,845

Loans held-for-sale

1,083

1,096

2,641

834

Loans receivable, net of deferred fees and costs

1,503,793

1,455,118

1,450,387

1,473,774

1,484,278

Less: allowance for credit losses

(17,694)

(17,285)

(17,506)

(17,977)

(18,184)

Net loans receivable

1,486,099

1,437,833

1,432,881

1,455,797

1,466,094

Federal Home Loan Bank stock

6,547

Accrued interest receivable

7,671

7,700

7,781

7,585

7,651

Premises and equipment

43,932

44,315

44,976

45,544

46,179

Cash value of bank owned life insurance

34,010

33,786

33,586

33,843

33,932

Goodwill

22,395

Other intangible assets

984

1,076

1,172

1,273

1,414

Other assets

33,145

35,063

34,873

37,771

41,606

Total assets

$2,040,706

$2,015,156

$2,021,181

$2,052,724

$2,057,911

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:

Non-interest bearing

$270,682

$278,705

$267,441

$280,296

$271,172

Interest bearing

1,461,862

1,440,366

1,459,530

1,470,350

1,483,678

Total

1,732,544

1,719,071

1,726,971

1,750,646

1,754,850

Federal funds purchased and repurchase agreements

30,301

40,815

39,703

48,426

48,331

Borrowed funds

65,000

50,000

45,000

55,000

65,000

Accrued expenses and other liabilities

34,574

32,870

34,844

33,157

35,477

Total liabilities

1,862,419

1,842,756

1,846,518

1,887,229

1,903,658

Stockholders' Equity:

Preferred stock, no par or stated value; 10,000,000 shares authorized,

none outstanding

Common stock, no par or stated value; 10,000,000 shares

authorized(1)

Additional paid-in capital

70,530

70,397

70,331

70,233

70,263

Accumulated other comprehensive loss

(41,532)

(45,713)

(41,662)

(49,266)

(57,560)

Retained earnings

149,289

147,716

145,994

144,528

141,550

Total stockholders' equity

178,287

172,400

174,663

165,495

154,253

Total liabilities and stockholders' equity

$2,040,706

$2,015,156

$2,021,181

$2,052,724

$2,057,911

(1) Shares of common stock issued and outstanding were 4,333,002 at 6/30/2026; 4,330,486 at 3/31/2026; 4,326,747 at 12/31/2025; 4,327,511 at

9/30/2025; and 4,324,889 at 6/30/2025.

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Consolidated Statements of Income

Quarter Ended

(Dollars in thousands, except per share data)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Interest income:

Loans

$20,468

$19,871

$20,496

$20,246

$19,940

Securities & short-term investments

2,597

2,850

2,916

3,094

2,730

Total interest income

23,065

22,721

23,412

23,340

22,670

Interest expense:

Deposits

7,159

6,959

7,605

7,996

7,780

Borrowings

726

691

765

901

945

Total interest expense

7,885

7,650

8,370

8,897

8,725

Net interest income

15,180

15,071

15,042

14,443

13,945

Provision for (benefit from) credit losses

264

(84)

(301)

(274)

Net interest income after provision for credit losses

14,916

15,016

15,126

14,744

14,219

Non-interest income:

Fees and service charges

1,331

1,295

1,485

1,463

1,330

Wealth management operations

748

661

659

759

696

Gain (loss) on tax credit investment

Gain (loss) on sale of loans held-for-sale, net

228

257

346

265

378

Gain (loss) on sale of securities, net

(1,577)

Bank owned life insurance

223

201

522

439

220

Gain (loss) on sale of property and equipment

(180)

(56)

Other

Total non-interest income

2,398

2,417

1,473

2,913

2,683

Non-interest expense:

Compensation and benefits

8,033

7,591

7,573

7,330

7,313

Occupancy and equipment

1,741

1,991

2,111

2,004

1,935

Data processing

1,176

1,105

1,465

1,116

1,341

Federal deposit insurance premiums

347

381

417

399

471

Marketing

266

587

230

257

214

Professional and outside services

1,221

1,169

906

945

1,115

Technology

516

508

521

549

545

Other

1,557

1,436

1,558

1,497

1,852

Total non-interest expense

14,857

14,768

14,781

14,097

14,786

Income before income taxes

2,457

2,665

1,818

3,560

2,116

Income tax expenses (benefit)

364

423

(166)

(35)

Net income

$2,093

$2,242

$1,984

$3,497

$2,151

Earnings per common share:

Basic

$0.49

$0.52

$0.46

$0.82

$0.50

Diluted

$0.48

$0.52

$0.46

$0.81

$0.50

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Consolidated Statements of Income (cont'd)

Six Months Ended

(Dollars in thousands, except per share data)

6/30/2026

6/30/2025

Interest income:

Loans

$40,339

$39,595

Securities & short-term investments

5,447

5,416

Total interest income

45,786

45,011

Interest expense:

Deposits

14,118

15,825

Borrowings

1,417

1,928

Total interest expense

15,535

17,753

Net interest income

30,251

27,258

Provision for (benefit from) credit losses

319

180

Net interest income after provision for credit losses

29,932

27,078

Non-interest income:

Fees and service charges

2,626

2,439

Wealth management operations

1,409

1,315

Gain on tax credit investment

—

Gain on sale of loans held-for-sale, net

485

608

Bank owned life insurance

424

418

Gain (loss) on sale of property and equipment

(180)

Other

Total non-interest income

4,815

4,912

Non-interest expense:

Compensation and benefits

15,624

14,685

Occupancy and equipment

3,732

4,046

Data processing

2,281

2,380

Federal deposit insurance premiums

728

904

Marketing

853

300

Professional and outside services

2,390

2,375

Technology

1,024

999

Other

2,993

3,569

Total non-interest expense

29,625

29,258

Income before income taxes

5,122

2,732

Income tax expenses

787

126

Net income

$4,335

$2,606

Earnings per common share:

Basic

$1.01

$0.61

Diluted

$1.00

$0.61

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Loans

As of

(Dollars in thousands)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026 vs

3/31/2026

6/30/2026 vs

6/30/2025

Residential real estate

$455,882

$445,097

$442,443

$450,007

$457,248

$10,785

2.4%

$(1,366)

(0.3)%

Home equity

55,601

53,855

53,497

51,813

51,112

1,746

3.2%

4,489

8.8%

Commercial real estate

597,364

564,613

555,594

564,558

551,091

32,751

5.8%

46,273

8.4%

Construction and land development

77,710

76,582

77,208

79,678

74,795

1,128

1.5%

2,915

3.9%

Multifamily

180,148

185,824

183,902

192,698

200,440

(5,676)

(3.1)%

(20,292)

(10.1)%

Commercial business

103,281

94,160

99,304

96,192

105,636

9,121

9.7%

(2,355)

(2.2)%

Consumer

2,036

310

870

348

2,347

1,726

556.8%

(311)

(13.3)%

Manufactured homes

22,050

22,981

23,708

24,372

25,146

(931)

(4.1)%

(3,096)

(12.3)%

Government

9,818

9,998

12,298

14,628

(180)

(1.8)%

(4,810)

(32.9)%

Loans receivable

1,503,890

1,453,420

1,448,824

1,471,964

1,482,443

50,470

3.5%

21,447

1.4%

Net deferred loan origination costs

1,006

1,723

1,606

1,719

2,012

(717)

(41.6)%

(1,006)

(50.0)%

Loan clearing funds

(1,103)

(25)

(43)

(177)

(1,078)

4312.0%

(926)

523.2%

Loans receivable, net

$1,503,793

$1,455,118

$1,450,387

$1,473,774

$1,484,278

$48,675

3.3%

$19,515

1.3%

Deposits

As of

(Dollars in thousands)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

6/30/2026 vs

3/31/2026

6/30/2026 vs

6/30/2025

Checking

$584,901

$587,575

$592,214

$579,760

$593,471

$(2,674)

(0.5)%

$(8,570)

(1.4)%

Savings

247,054

253,408

254,055

257,058

266,070

(6,354)

(2.5)%

(19,016)

(7.1)%

Money market

403,140

389,274

381,111

377,155

352,616

13,866

3.6%

50,524

14.3%

Certificates of deposit

497,449

488,814

499,591

536,673

542,693

8,635

1.8%

(45,244)

(8.3)%

Total deposits

$1,732,544

$1,719,071

$1,726,971

$1,750,646

$1,754,850

$13,473

0.8%

$(22,306)

(1.3)%

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Asset Quality

As of and for the Quarter Ended

(Dollars in thousands)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Non-accruing loans

$16,549

$12,371

$11,162

$13,892

$13,526

Accruing loans delinquent more than 90 days

145

Securities in non-accrual

1,909

1,891

1,882

1,616

Foreclosed real estate

Total nonperforming assets

$18,458

$14,351

$13,133

$15,508

$15,287

Allowance for credit losses (ACL):

ACL specific allowances for collateral

dependent loans

$147

$263

$912

$570

ACL general allowances for loan portfolio

17,547

17,285

17,243

17,065

17,614

Total ACL

$17,694

$17,285

$17,506

$17,977

$18,184

Allowance for Credit Losses

As of and for the Quarter Ended

(Dollars in thousands)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Beginning allowance for credit losses

$17,285

$17,506

$17,977

$18,184

$17,955

Provision for (benefit from) loan losses

378

(224)

(170)

(185)

Net (charge-offs) recoveries

(301)

(268)

414

Ending allowance for credit losses

$17,694

$17,285

$17,506

$17,977

$18,184

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Bank-Level Regulatory Capital Requirements

June 30, 2026

Actual (1)

Minimum Required For

Capital Adequacy

Purposes

Minimum Required To Be

Well Capitalized Under Prompt

Corrective Action Regulations

(Dollars in thousands)

Amount

Ratio

Amount

Ratio

Amount

Ratio

Common equity tier 1 capital to risk-

weighted assets

$189,965

11.81%

$72,385

4.50%

$104,557

6.50%

Tier 1 capital to risk-weighted assets

$189,965

11.81%

$96,514

6.00%

$128,685

8.00%

Total capital to risk-weighted assets

$209,575

13.03%

$128,685

8.00%

$160,856

10.00%

Tier 1 leverage ratio

$189,965

9.31%

$81,581

4.00%

$101,976

5.00%

(1) Current quarter ratios are estimated.

Finward Bancorp Exhibit 99.1

Second Quarter 2026 Financial Results (unaudited)

Reconciliation of Non-GAAP Performance Measures

Quarter Ended

(Dollars in thousands, except per share amounts)

6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

Tangible Common Ratios

Stockholder's equity (GAAP)

$178,287

$172,400

$174,663

$165,495

$154,253

Less: Goodwill (GAAP)

(22,395)

Less: Other intangibles (GAAP)

(984)

(1,076)

(1,172)

(1,273)

(1,414)

Tangible common equity (non-GAAP)

$154,908

$148,929

$151,096

$141,827

$130,444

Total assets (GAAP)

$2,040,706

$2,015,156

$2,021,181

$2,052,724

$2,057,911

Less: Goodwill (GAAP)

(22,395)

Less: Other intangibles (GAAP)

(984)

(1,076)

(1,172)

(1,273)

(1,414)

Tangible assets (non-GAAP)

$2,017,327

$1,991,685

$1,997,614

$2,029,056

$2,034,102

Shares outstanding - end of quarter

4,333,002

4,330,486

4,326,747

4,327,511

4,324,889

Common book value per share (GAAP)

$41.15

$39.81

$40.37

$38.24

$35.67

Tangible common book value per share (non-GAAP)

$35.75

$34.39

$34.92

$32.77

$30.16

Total equity to total assets (GAAP)

8.74%

8.56%

8.64%

8.06%

7.50%

Tangible common equity to tangible assets (non-GAAP)

7.68%

7.48%

7.56%

6.99%

6.41%

Calculation of net interest margin, taxable-equivalent basis

Net interest income (GAAP)

$15,180

$15,071

$15,042

$14,443

$13,945

Tax-equivalent adjustment on securities and loans (1)

580

582

629

663

674

Net interest income (tax-equivalent basis)

$15,760

$15,653

$15,671

$15,106

$14,619

Total average earning assets

$1,869,793

$1,868,911

$1,889,616

$1,900,066

$1,879,892

Net interest margin

3.25%

3.23%

3.18%

3.04%

2.97%

Net interest margin (tax-equivalent basis)

3.37%

3.35%

3.32%

3.18%

3.11%

Efficiency ratio

Total non-interest expense

$14,857

$14,768

$14,781

$14,097

$14,786

Total revenue

17,578

17,488

16,515

17,356

16,628

Efficiency ratio

84.52%

84.45%

89.50%

81.22%

88.92%

(1) The tax equivalent adjustment represents the increase in net interest income needed to reflect the tax-exempt income from certain investment securities

and loans on tax-equivalent basis using a federal statutory corporate rate of 21%.

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Cover Page

Jul. 28, 2026

Cover [Abstract]

Entity Registrant Name

FINWARD BANCORP

Document Type

8-K

Document Period End Date

Jul. 28, 2026

Entity Incorporation, State or Country Code

Entity File Number

001-40999

Entity Tax Identification Number

35-1927981

Entity Address, Address Line One

9204 Columbia Avenue

Entity Address, City or Town

Munster

Entity Address, State or Province

Entity Address, Postal Zip Code

46321

City Area Code

219

Local Phone Number

836-4400

Written Communications

false

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false

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Title of 12(b) Security

Common stock, no par value

Trading Symbol

FNWD

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration