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Finward Bancorp (FNWD) Financials

Finward Bancorp logo
$36.17 -0.17 (-0.45%)
As of 02:02 PM Eastern
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Annual Income Statements for Finward Bancorp

Annual Income Statements for Finward Bancorp

This table shows Finward Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
Consolidated Net Income / (Loss)		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
Net Income / (Loss) Continuing Operations		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
Total Pre-Tax Income 		9.65 12 12 11 14 19 16 17 8.05 13 8.11
Total Revenue		 34 38 39 43 54 64 65 79 65 71 66
Net Interest Income / (Expense)		 27 30 31 34 43 46 49 67 55 48 57
Total Interest Income		 29 32 33 39 52 52 51 72 86 89 92
Loans and Leases Interest Income		 3.44 3.80 4.16 5.30 6.88 45 42 62 75 78 80
Investment Securities Interest Income		 6.15 6.10 6.43 6.88 6.95 6.51 9.02 9.58 9.12 8.25 7.82
Other Interest Income		 20 23 23 27 38 0.24 0.06 0.33 1.90 3.41 3.61
Total Interest Expense		 2.01 2.35 2.59 5.09 9.09 5.74 2.08 4.89 31 41 35
Deposits Interest Expense		 1.51 1.77 2.06 3.80 8.36 5.32 2.00 3.60 25 35 31
Long-Term Debt Interest Expense		 0.44 0.48 0.42 1.12 0.50 0.33 0.03 1.09 4.50 3.97 2.16
Federal Funds Purchased and Securities Sold Interest Expense		 0.07 0.10 0.11 0.18 0.23 0.09 0.05 0.20 1.29 1.60 1.43
Total Non-Interest Income		 6.85 7.61 7.75 9.10 11 18 16 12 11 23 9.30
Other Service Charges		 4.63 4.61 3.42 4.04 5.09 5.29 5.53 6.54 6.20 5.48 5.51
Net Realized & Unrealized Capital Gains on Investments		 1.78 2.54 2.16 2.87 2.77 10 7.33 2.05 1.30 14 -0.32
Investment Banking Income		 - - - - - - - - - 2.86 2.73
Other Non-Interest Income		 0.44 0.47 0.46 0.49 0.89 0.71 0.72 0.81 0.77 0.81 1.38
Provision for Credit Losses		 0.95 1.27 1.20 1.31 2.58 3.69 1.51 0.00 2.03 -0.50 -0.21
Total Non-Interest Expense		 24 25 25 31 37 42 47 62 55 58 58
Salaries and Employee Benefits		 13 14 14 16 20 23 24 29 28 28 30
Net Occupancy & Equipment Expense		 4.79 4.97 4.73 6.12 7.52 7.20 9.19 14 13 10 10
Marketing Expense		 0.55 0.52 0.60 0.71 0.93 0.73 1.09 1.91 0.84 0.80 0.79
Property & Liability Insurance Claims		 0.52 0.45 0.34 0.41 0.30 0.79 0.86 1.23 2.00 1.79 1.72
Other Operating Expenses		 4.61 4.79 5.60 7.73 9.03 10 11 15 12 17 16
Income Tax Expense		 1.80 2.55 2.87 1.43 1.76 2.77 1.41 1.48 -0.34 1.33 0.02
Basic Earnings per Share		 $2.75 $3.20 $3.13 $3.17 $3.53 $4.60 $4.30 $3.61 $1.96 $2.85 $1.89
Weighted Average Basic Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Diluted Earnings per Share		 $2.75 $3.20 $3.13 $3.17 $3.53 $4.60 $4.30 $3.60 $1.96 $2.84 $1.88
Weighted Average Diluted Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Weighted Average Basic & Diluted Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Cash Dividends to Common per Share		 $1.06 $1.11 $1.15 $1.19 $1.23 $1.24 $1.24 $1.24 $1.05 $0.48 $0.36

Quarterly Income Statements for Finward Bancorp

This table shows Finward Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
Consolidated Net Income / (Loss)		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
Net Income / (Loss) Continuing Operations		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
Total Pre-Tax Income 		1.79 1.16 10 0.13 0.40 2.67 0.62 2.12 3.56 1.82 2.67
Total Revenue		 16 15 25 15 15 16 16 17 17 17 17
Net Interest Income / (Expense)		 13 13 12 12 12 13 13 14 14 15 15
Total Interest Income		 22 22 22 22 22 23 22 23 23 23 23
Loans and Leases Interest Income		 19 19 19 19 20 20 20 20 20 20 20
Investment Securities Interest Income		 2.25 2.27 2.24 2.14 2.14 2.13 2.13 2.11 2.09 1.49 1.77
Other Interest Income		 0.37 0.71 0.86 0.81 0.67 0.66 0.55 0.62 1.00 1.43 1.08
Total Interest Expense		 8.65 9.54 10 10 10 9.99 9.03 8.73 8.90 8.37 7.65
Deposits Interest Expense		 7.07 8.18 8.79 8.61 8.95 8.81 8.05 7.78 8.00 7.61 6.96
Long-Term Debt Interest Expense		 1.14 0.96 1.04 1.06 1.09 0.78 0.64 0.58 0.51 0.45 0.42
Federal Funds Purchased and Securities Sold Interest Expense		 0.44 0.40 0.37 0.40 0.44 0.40 0.35 0.37 0.39 0.32 0.27
Total Non-Interest Income		 2.40 2.74 13 2.57 2.87 3.73 2.23 2.68 2.91 1.47 2.42
Other Service Charges		 1.44 1.24 1.17 1.26 1.59 1.45 1.12 1.39 1.71 1.29 1.30
Net Realized & Unrealized Capital Gains on Investments		 0.19 0.63 11 0.34 0.34 1.35 0.30 0.38 0.23 -1.23 0.26
Investment Banking Income		 - - - 0.76 0.73 - 0.62 0.70 0.76 - 0.66
Other Non-Interest Income		 0.19 0.19 0.19 0.21 0.21 0.20 0.20 0.22 0.21 0.75 0.20
Provision for Credit Losses		 0.24 0.78 0.00 0.08 0.00 -0.58 0.45 -0.27 -0.30 -0.08 0.06
Total Non-Interest Expense		 13 14 15 14 14 14 14 15 14 15 15
Salaries and Employee Benefits		 6.73 6.29 7.11 7.04 6.96 6.63 7.37 7.31 7.33 7.57 7.59
Net Occupancy & Equipment Expense		 2.06 5.00 3.71 2.62 2.78 6.04 2.57 2.48 2.55 1.59 2.50
Marketing Expense		 0.24 0.19 0.16 0.21 0.21 0.22 0.09 0.21 0.26 0.23 0.59
Property & Liability Insurance Claims		 0.47 0.49 0.50 0.40 0.44 0.46 0.43 0.47 0.40 0.42 0.38
Other Operating Expenses		 3.99 1.54 3.53 4.15 4.08 0.90 4.02 4.31 3.56 4.97 3.71
Income Tax Expense		 -0.40 -0.36 0.97 -0.01 -0.21 0.57 0.16 -0.04 0.06 -0.17 0.42
Basic Earnings per Share		 $0.52 $0.35 $2.18 $0.03 $0.14 $0.50 $0.11 $0.50 $0.82 $0.46 $0.52
Weighted Average Basic Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Diluted Earnings per Share		 $0.51 $0.37 $2.17 $0.03 $0.14 $0.50 $0.11 $0.50 $0.81 $0.46 $0.52
Weighted Average Diluted Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Weighted Average Basic & Diluted Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Cash Dividends to Common per Share		 $0.31 $0.12 $0.12 $0.12 $0.12 $0.12 $0.00 $0.12 $0.12 $0.12 $0.12

Annual Cash Flow Statements for Finward Bancorp

This table details how cash moves in and out of Finward Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -10 33 -33 6.11 30 -27 13 -1.89 55 -15 49
Net Cash From Operating Activities		 9.46 10 12 11 11 20 17 18 24 9.81 9.90
Net Cash From Continuing Operating Activities		 9.46 10 12 11 11 20 17 18 24 9.81 9.90
Net Income / (Loss) Continuing Operations		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
Consolidated Net Income / (Loss)		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
Provision For Loan Losses		 0.95 1.27 1.20 1.31 2.58 3.69 1.51 0.00 2.03 -0.50 -0.21
Depreciation Expense		 2.25 2.50 2.55 2.59 1.89 3.20 4.56 5.97 7.16 7.29 6.19
Non-Cash Adjustments to Reconcile Net Income		 -0.69 -0.44 0.06 -2.37 -2.86 -8.23 3.79 5.38 0.19 -14 -1.37
Changes in Operating Assets and Liabilities, net		 -0.98 -2.13 -0.54 -0.40 -2.82 5.15 -7.78 -8.70 6.45 5.18 -2.80
Net Cash From Investing Activities		 -45 -21 -48 -31 -28 -185 -126 -1.13 15 43 95
Net Cash From Continuing Investing Activities		 -45 -21 -48 -31 -28 -185 -126 -1.13 15 43 95
Purchase of Property, Leasehold Improvements and Equipment		 -1.31 -1.71 -1.66 -1.01 -3.04 -3.74 -3.13 -3.03 -1.15 -3.07 -0.85
Purchase of Investment Securities		 -135 -113 -128 -110 -149 -301 -223 -95 -6.50 0.76 58
Sale of Property, Leasehold Improvements and Equipment		 - - - 0.00 0.24 - 0.00 1.80 0.80 18 0.82
Sale and/or Maturity of Investments		 75 94 83 62 72 120 101 96 22 27 37
Net Cash From Financing Activities		 25 44 2.34 27 47 138 122 -18 15 -68 -56
Net Cash From Continuing Financing Activities		 25 44 2.34 27 47 138 122 -18 15 -68 -56
Net Change in Deposits		 25 65 13 12 81 148 132 -134 38 -53 -34
Issuance of Debt		 11 11 9.36 77 0.00 2.36 -0.15 120 80 150 40
Repayment of Debt		 -8.00 -29 -17 -55 -29 -8.00 -6.00 0.00 -120 -165 -60
Payment of Dividends		 -2.96 -3.14 -3.26 -3.43 -4.09 -4.29 -4.31 -5.08 -5.34 -2.07 -1.56
Other Financing Activities, Net		 - 0.00 0.01 -4.12 0.00 -0.09 0.74 0.80 22 1.91 -0.56
Cash Interest Paid		 2.02 2.35 2.59 4.95 9.10 5.87 2.11 4.57 29 43 35
Cash Income Taxes Paid		 2.04 2.66 1.90 1.13 1.61 1.03 2.19 1.35 0.24 0.42 0.15

Quarterly Cash Flow Statements for Finward Bancorp

This table details how cash moves in and out of Finward Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -44 14 -14 11 -12 -1.07 1.78 31 0.76 15 -0.89
Net Cash From Operating Activities		 5.23 1.84 -0.03 2.75 -3.73 11 -3.81 4.77 1.20 7.74 3.64
Net Cash From Continuing Operating Activities		 5.23 1.84 -0.03 2.75 -3.73 11 -3.81 4.77 1.20 7.74 3.64
Net Income / (Loss) Continuing Operations		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
Consolidated Net Income / (Loss)		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
Provision For Loan Losses		 0.24 0.78 0.00 0.08 - -0.58 0.45 -0.27 -0.30 -0.08 0.06
Depreciation Expense		 1.76 2.09 1.71 1.72 2.10 1.76 1.60 1.63 1.45 1.51 1.33
Non-Cash Adjustments to Reconcile Net Income		 -0.29 0.61 -12 -0.99 -1.91 0.48 -2.06 1.50 -2.47 1.66 0.64
Changes in Operating Assets and Liabilities, net		 1.32 -3.15 0.85 1.80 -4.52 7.05 -4.26 -0.24 -0.98 2.68 -0.62
Net Cash From Investing Activities		 11 15 39 3.16 0.57 -0.18 20 10 14 51 -2.16
Net Cash From Continuing Investing Activities		 11 15 39 3.16 0.57 -0.18 20 10 14 51 -2.16
Purchase of Property, Leasehold Improvements and Equipment		 -0.33 -0.36 -0.71 -1.63 -0.51 -0.22 -0.18 -0.28 -0.15 -0.24 -0.14
Purchase of Investment Securities		 7.68 6.23 4.16 1.82 -2.09 -3.13 17 7.65 10 23 -4.91
Sale and/or Maturity of Investments		 3.93 7.99 18 3.03 3.16 3.17 2.94 2.82 3.71 28 2.89
Net Cash From Financing Activities		 -61 -2.14 -53 5.52 -8.40 -12 -14 16 -15 -43 -2.37
Net Cash From Continuing Financing Activities		 -61 -2.14 -53 5.52 -8.40 -12 -14 16 -15 -43 -2.37
Net Change in Deposits		 -11 29 -66 9.28 -7.94 12 -10 4.47 -4.20 -24 -7.90
Issuance of Debt		 - -70 90 - 60 - 1.66 38 -10 10 15
Repayment of Debt		 -50 50 -80 -5.00 -60 -20 -10 -30 - -20 -10
Payment of Dividends		 -1.33 -1.34 -0.52 -0.52 -0.52 -0.52 -0.52 -0.00 -0.52 -0.52 -0.52
Other Financing Activities, Net		 1.91 -10 3.01 1.75 0.07 -2.93 4.94 3.28 -0.05 -8.73 1.05
Cash Interest Paid		 7.24 9.54 13 9.22 11 10 8.99 8.72 9.01 8.58 8.62

Annual Balance Sheets for Finward Bancorp

This table presents Finward Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 865 914 927 1,096 1,329 1,496 1,621 2,070 2,108 2,061 2,021
Cash and Due from Banks		 9.92 15 11 13 21 14 13 20 18 18 18
Interest Bearing Deposits at Other Banks		 0.77 29 0.14 3.12 11 5.91 20 11 68 52 101
Trading Account Securities		 233 234 244 245 283 422 532 372 372 335 317
Loans and Leases, Net of Allowance		 565 576 613 756 898 953 953 1,501 1,494 1,492 1,433
Loans and Leases		 572 584 620 764 907 965 967 1,514 1,513 1,509 1,450
Allowance for Loan and Lease Losses		 6.95 7.70 7.48 7.96 9.00 12 13 13 19 17 18
Premises and Equipment, Net		 19 19 20 25 29 31 31 40 38 47 45
Goodwill		 2.56 2.79 2.79 8.17 11 11 11 22 22 22 22
Intangible Assets		 - - - - - 4.12 3.13 4.79 3.27 1.86 1.17
Other Assets		 31 35 33 43 58 54 55 96 93 92 83
Total Liabilities & Shareholders' Equity		 865 914 927 1,096 1,329 1,496 1,621 2,070 2,108 2,061 2,021
Total Liabilities		 784 830 835 995 1,195 1,345 1,464 1,934 1,961 1,909 1,847
Non-Interest Bearing Deposits		 100 112 121 127 172 242 295 359 296 263 267
Interest Bearing Deposits		 615 668 672 803 982 1,061 1,139 1,416 1,518 1,497 1,460
Federal Funds Purchased and Securities Sold		 - - - - - - - - - 40 40
Long-Term Debt		 39 26 21 43 14 6.15 0.00 120 80 65 45
Other Long-Term Liabilities		 11 9.92 10 10 15 22 15 23 29 44 35
Total Equity & Noncontrolling Interests		 81 84 92 101 134 152 157 136 147 151 175
Total Preferred & Common Equity		 81 84 92 101 134 152 157 136 147 151 175
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 81 84 92 101 134 152 157 136 147 151 175
Common Stock		 4.52 4.66 4.87 12 30 30 30 69 70 70 70
Retained Earnings		 75 81 87 92 100 111 122 132 129 139 146
Accumulated Other Comprehensive Income / (Loss)		 1.41 -1.51 0.68 -2.80 4.26 10 4.28 -64 -52 -58 -42
Other Equity Adjustments		 - - - - - - - - 0.00 - 0.00

Quarterly Balance Sheets for Finward Bancorp

This table presents Finward Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,087 2,072 2,077 2,075 2,040 2,058 2,053 2,015
Cash and Due from Banks		 18 16 19 23 19 23 19 16
Interest Bearing Deposits at Other Banks		 53 55 63 48 53 80 84 103
Trading Account Securities		 341 347 341 353 333 329 338 308
Loans and Leases, Net of Allowance		 1,506 1,489 1,488 1,490 1,474 1,466 1,456 1,438
Loans and Leases		 1,526 1,508 1,506 1,508 1,492 1,484 1,474 1,455
Allowance for Loan and Lease Losses		 19 19 18 19 18 18 18 17
Premises and Equipment, Net		 39 48 49 48 47 46 46 44
Goodwill		 22 22 22 22 22 22 22 22
Intangible Assets		 3.64 2.91 2.56 2.20 1.64 1.41 1.27 1.08
Other Assets		 103 91 91 88 90 90 86 83
Total Liabilities & Shareholders' Equity		 2,087 2,072 2,077 2,075 2,040 2,058 2,053 2,015
Total Liabilities		 1,968 1,920 1,928 1,915 1,888 1,904 1,887 1,843
Non-Interest Bearing Deposits		 313 297 287 285 281 271 280 279
Interest Bearing Deposits		 1,471 1,451 1,470 1,464 1,469 1,484 1,470 1,440
Federal Funds Purchased and Securities Sold		 - - - - - - - 41
Long-Term Debt		 100 90 85 85 57 65 55 50
Other Long-Term Liabilities		 36 42 44 38 36 35 33 33
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 119 152 149 160 152 154 165 172
Total Preferred & Common Equity		 119 152 149 160 152 154 165 172
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 119 152 149 160 152 154 165 172
Common Stock		 69 70 70 70 70 70 70 70
Retained Earnings		 128 138 138 138 140 142 145 148
Accumulated Other Comprehensive Income / (Loss)		 -79 -56 -59 -48 -58 -58 -49 -46

Annual Metrics And Ratios for Finward Bancorp

This table displays calculated financial ratios and metrics derived from Finward Bancorp's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 2,851,417.00 2,860,157.00 2,864,007.00 3,029,157.00 3,451,797.00 3,463,136.00 3,479,139.00 4,297,799.00 4,300,517.00 - 4,327,000.00
DEI Adjusted Shares Outstanding		 2,851,417.00 2,860,157.00 2,864,007.00 3,029,157.00 3,451,797.00 3,463,136.00 3,479,139.00 4,297,799.00 4,300,517.00 - 4,327,000.00
DEI Earnings Per Adjusted Shares Outstanding		 2.75 3.20 3.13 3.08 3.50 4.60 4.30 3.51 1.95 - 1.87
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.85% 10.07% 2.26% 12.83% 23.86% 18.95% 0.77% 21.91% -16.98% 8.87% -7.11%
EBITDA Growth		 3.39% 19.00% 1.39% -7.04% 17.71% 38.62% -4.43% 7.59% -32.49% 36.42% -31.07%
EBIT Growth		 1.08% 21.14% 1.20% -8.99% 28.69% 35.00% -12.45% 1.11% -51.41% 67.25% -39.73%
NOPAT Growth		 6.19% 16.43% -1.98% 4.20% 29.56% 31.70% -6.08% 0.78% -44.43% 44.75% -33.33%
Net Income Growth		 6.19% 16.43% -1.98% 4.20% 29.56% 31.70% -6.08% 0.78% -44.43% 44.75% -33.33%
EPS Growth		 5.77% 16.36% -2.19% 1.28% 11.36% 30.31% -6.52% -16.28% -45.56% 44.90% -33.80%
Operating Cash Flow Growth		 -1.23% 9.83% 18.36% -14.30% 3.96% 80.12% -13.65% 4.03% 36.55% -59.50% 0.98%
Free Cash Flow Firm Growth		 91.02% 2,543.57% -64.12% -360.16% 138.14% -53.59% 284.34% -659.02% 117.29% 42.29% -92.09%
Invested Capital Growth		 6.80% -10.78% 0.25% 25.64% 2.25% 7.49% -0.21% 58.82% -2.36% -3.37% 1.50%
Revenue Q/Q Growth		 2.52% 1.84% 0.67% 5.09% 2.36% 6.15% -0.83% 4.49% -6.04% 1.27% 0.27%
EBITDA Q/Q Growth		 2.00% 5.15% 0.99% 0.42% -10.25% 6.90% 5.87% 3.16% -11.80% 6.07% -7.17%
EBIT Q/Q Growth		 2.04% 5.42% 0.69% 0.05% -4.24% 5.48% -0.52% 4.32% -26.15% 12.70% -9.52%
NOPAT Q/Q Growth		 3.97% 3.39% -4.70% 8.78% -2.94% 6.19% 0.73% 4.48% -22.60% 5.12% -1.44%
Net Income Q/Q Growth		 3.97% 3.39% -4.70% 8.78% -2.94% 6.19% 0.73% 4.48% -22.60% 5.12% -1.44%
EPS Q/Q Growth		 3.77% 3.56% -4.86% 6.73% -5.36% 6.24% 0.23% 0.56% -23.14% 4.80% -2.08%
Operating Cash Flow Q/Q Growth		 17.14% 26.69% -12.21% 92.55% -42.69% 2.03% 0.02% 46.29% -14.95% 1,068.65% -23.63%
Free Cash Flow Firm Q/Q Growth		 -108.12% 2,186.07% 258.20% -7,186.08% 44.81% 442.65% -17.33% -1,510.31% 124.53% 342.14% -82.00%
Invested Capital Q/Q Growth		 3.88% -12.42% -16.33% -0.82% -2.63% -4.74% -2.96% 38.61% -0.70% -10.80% -18.32%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 34.98% 37.82% 37.49% 30.89% 29.36% 34.21% 32.45% 28.64% 23.29% 29.18% 21.65%
EBIT Margin		 28.20% 31.04% 30.71% 24.78% 25.74% 29.21% 25.38% 21.05% 12.32% 18.93% 12.28%
Profit (Net Income) Margin		 22.95% 24.27% 23.26% 21.49% 22.47% 24.88% 23.19% 19.17% 12.83% 17.06% 12.25%
Tax Burden Percent		 81.37% 78.20% 75.75% 86.72% 87.31% 85.17% 91.37% 91.07% 104.16% 90.15% 99.72%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 18.63% 21.80% 24.25% 13.28% 12.69% 14.83% 8.63% 8.93% -4.16% 9.85% 0.28%
Return on Invested Capital (ROIC)		 5.84% 6.96% 7.22% 6.66% 7.66% 9.62% 8.73% 6.81% 3.12% 4.65% 3.71%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.84% 6.96% 7.22% 6.66% 7.66% 9.62% 8.73% 6.81% 3.12% 4.65% 3.71%
Return on Net Nonoperating Assets (RNNOA)		 4.16% 4.12% 2.95% 2.99% 2.61% 1.53% 0.98% 3.49% 2.79% 3.47% 1.25%
Return on Equity (ROE)		 10.00% 11.08% 10.17% 9.65% 10.27% 11.15% 9.71% 10.29% 5.91% 8.12% 4.96%
Cash Return on Invested Capital (CROIC)		 -0.73% 18.35% 6.97% -16.06% 5.44% 2.41% 8.94% -38.65% 5.51% 8.07% 2.22%
Operating Return on Assets (OROA)		 1.18% 1.31% 1.29% 1.06% 1.14% 1.32% 1.05% 0.90% 0.39% 0.65% 0.40%
Return on Assets (ROA)		 0.96% 1.03% 0.97% 0.92% 1.00% 1.13% 0.96% 0.82% 0.40% 0.58% 0.40%
Return on Common Equity (ROCE)		 10.00% 11.08% 10.17% 9.65% 10.27% 11.15% 9.71% 10.29% 5.91% 8.12% 4.96%
Return on Equity Simple (ROE_SIMPLE)		 9.70% 10.87% 9.73% 9.20% 9.02% 10.50% 9.55% 11.06% 5.69% 8.01% 4.63%
Net Operating Profit after Tax (NOPAT)		 7.85 9.14 8.96 9.34 12 16 15 15 8.38 12 8.09
NOPAT Margin		 22.95% 24.27% 23.26% 21.49% 22.47% 24.88% 23.19% 19.17% 12.83% 17.06% 12.25%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 54.02% 51.69% 50.75% 53.47% 52.13% 48.08% 53.49% 56.49% 63.19% 61.47% 61.48%
Operating Expenses to Revenue		 69.01% 65.60% 66.17% 72.21% 69.46% 65.03% 72.28% 78.95% 84.58% 81.78% 88.03%
Earnings before Interest and Taxes (EBIT)		 9.65 12 12 11 14 19 16 17 8.05 13 8.11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 14 14 13 16 22 21 23 15 21 14
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.87 0.84 0.77 1.24 1.08 0.67 0.94 1.08 0.72 0.80 0.87
Price to Tangible Book Value (P/TBV)		 0.90 0.87 0.79 1.35 1.18 0.74 1.03 1.35 0.87 0.95 1.00
Price to Revenue (P/Rev)		 2.06 1.88 1.84 2.90 2.69 1.58 2.27 1.88 1.62 1.70 2.30
Price to Earnings (P/E)		 8.99 7.74 7.91 13.51 11.96 6.35 9.80 9.79 12.66 9.95 18.77
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.74% 3.61% 5.03% 1.72% 1.37%
Earnings Yield		 11.13% 12.92% 12.64% 7.40% 8.36% 15.75% 10.20% 10.22% 7.90% 10.05% 5.33%
Enterprise Value to Invested Capital (EV/IC)		 0.84 0.53 0.73 1.04 0.76 0.58 0.74 0.92 0.52 0.61 0.35
Enterprise Value to Revenue (EV/Rev)		 3.42 1.74 2.35 3.72 2.24 1.55 1.96 3.17 2.12 2.18 1.17
Enterprise Value to EBITDA (EV/EBITDA)		 9.78 4.60 6.26 12.04 7.64 4.53 6.04 11.07 9.09 7.48 5.39
Enterprise Value to EBIT (EV/EBIT)		 12.13 5.60 7.64 15.01 8.71 5.30 7.72 15.06 17.18 11.54 9.51
Enterprise Value to NOPAT (EV/NOPAT)		 14.90 7.16 10.08 17.31 9.98 6.23 8.44 16.54 16.49 12.80 9.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.37 6.30 7.35 15.33 11.02 5.03 7.41 14.06 5.71 15.83 7.79
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.72 10.44 0.00 14.06 24.90 8.25 0.00 9.33 7.37 15.94
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.72 0.47 0.35 0.54 0.19 0.13 0.09 0.99 0.80 0.69 0.26
Long-Term Debt to Equity		 0.49 0.31 0.23 0.42 0.10 0.04 0.00 0.88 0.54 0.43 0.26
Financial Leverage		 0.71 0.59 0.41 0.45 0.34 0.16 0.11 0.51 0.89 0.75 0.34
Leverage Ratio		 10.44 10.78 10.45 10.46 10.29 9.88 10.11 12.60 14.73 13.95 12.52
Compound Leverage Factor		 10.44 10.78 10.45 10.46 10.29 9.88 10.11 12.60 14.73 13.95 12.52
Debt to Total Capital		 41.75% 32.13% 25.90% 35.00% 15.98% 11.58% 8.52% 49.84% 44.50% 40.98% 20.49%
Short-Term Debt to Total Capital		 13.32% 11.29% 9.10% 7.45% 7.20% 7.99% 8.52% 5.70% 14.36% 15.64% 0.00%
Long-Term Debt to Total Capital		 28.43% 20.84% 16.81% 27.55% 8.77% 3.58% 0.00% 44.13% 30.14% 25.34% 20.49%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 58.25% 67.87% 74.10% 65.00% 84.02% 88.42% 91.48% 50.16% 55.50% 59.02% 79.51%
Debt to EBITDA		 4.85 2.80 2.23 4.07 1.61 0.91 0.70 6.02 7.77 5.07 3.15
Net Debt to EBITDA		 3.88 -0.37 1.35 2.64 -1.51 -0.09 -0.97 4.52 2.11 1.66 -5.22
Long-Term Debt to EBITDA		 3.30 1.81 1.45 3.20 0.89 0.28 0.00 5.33 5.26 3.13 3.15
Debt to NOPAT		 7.39 4.36 3.59 5.85 2.11 1.25 0.97 8.99 14.10 8.67 5.56
Net Debt to NOPAT		 5.92 -0.58 2.17 3.80 -1.98 -0.12 -1.36 6.75 3.83 2.85 -9.23
Long-Term Debt to NOPAT		 5.03 2.83 2.33 4.61 1.16 0.39 0.00 7.96 9.55 5.36 5.56
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.99 24 8.65 -23 8.59 3.99 15 -86 15 21 4.84
Operating Cash Flow to CapEx		 722.14% 607.60% 742.18% 1,042.53% 391.60% 528.41% 544.85% 1,437.96% 6,937.25% 0.00% 29,120.59%
Free Cash Flow to Firm to Interest Expense		 -0.49 10.28 3.34 -4.42 0.94 0.69 7.36 -17.52 0.47 0.52 0.14
Operating Cash Flow to Interest Expense		 4.70 4.43 4.74 2.07 1.21 3.44 8.19 3.63 0.78 0.24 0.28
Operating Cash Flow Less CapEx to Interest Expense		 4.05 3.70 4.11 1.87 0.90 2.79 6.69 3.38 0.76 0.60 0.28
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 0.03 0.03 0.03
Fixed Asset Turnover		 1.87 1.97 1.98 1.96 1.99 2.13 2.08 2.20 1.66 1.66 1.43
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 139 124 124 156 160 172 171 272 265 257 220
Invested Capital Turnover		 0.25 0.29 0.31 0.31 0.34 0.39 0.38 0.36 0.24 0.27 0.30
Increase / (Decrease) in Invested Capital		 8.84 -15 0.31 32 3.51 12 -0.35 101 -6.43 -8.94 3.25
Enterprise Value (EV)		 117 65 90 162 121 99 126 249 138 155 77
Market Capitalization		 71 71 71 126 145 101 147 148 106 121 152
Book Value per Share		 $28.38 $29.41 $32.14 $33.50 $38.85 $43.80 $45.02 $31.74 $34.26 $35.10 $40.37
Tangible Book Value per Share		 $27.48 $28.43 $31.17 $30.80 $35.63 $39.40 $40.92 $25.41 $28.29 $29.48 $34.92
Total Capital		 139 124 124 156 160 172 171 272 265 257 220
Total Debt		 58 40 32 55 25 20 15 136 118 105 45
Total Long-Term Debt		 39 26 21 43 14 6.15 0.00 120 80 65 45
Net Debt		 46 -5.28 19 35 -24 -1.96 -20 102 32 35 -75
Capital Expenditures (CapEx)		 1.31 1.71 1.66 1.01 2.80 3.74 3.13 1.23 0.35 -15 0.03
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 58 40 32 55 25 20 15 136 118 105 45
Total Depreciation and Amortization (D&A)		 2.32 2.55 2.61 2.66 1.95 3.20 4.56 5.97 7.16 7.29 6.19
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.75 $3.20 $3.13 $3.17 $3.53 $4.80 $4.30 $3.61 $1.96 $2.85 $1.89
Adjusted Weighted Average Basic Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Adjusted Diluted Earnings per Share		 $2.75 $3.20 $3.13 $3.17 $3.53 $4.80 $4.30 $3.60 $1.96 $2.84 $1.88
Adjusted Weighted Average Diluted Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.86M 2.86M 2.87M 3.45M 3.46M 3.48M 4.29M 4.30M 4.30M 4.32M 4.33M
Normalized Net Operating Profit after Tax (NOPAT)		 7.85 9.14 8.96 9.34 12 16 15 16 5.63 12 8.09
Normalized NOPAT Margin		 22.95% 24.27% 23.26% 21.49% 22.47% 24.88% 23.19% 20.95% 8.62% 17.06% 12.25%
Pre Tax Income Margin		 28.20% 31.04% 30.71% 24.78% 25.74% 29.21% 25.38% 21.05% 12.32% 18.93% 12.28%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.79 4.99 4.56 2.11 1.52 3.26 7.87 3.39 0.26 0.33 0.23
NOPAT to Interest Expense		 3.90 3.90 3.46 1.83 1.33 2.78 7.19 3.09 0.27 0.30 0.23
EBIT Less CapEx to Interest Expense		 4.14 4.26 3.92 1.92 1.22 2.61 6.37 3.14 0.25 0.69 0.23
NOPAT Less CapEx to Interest Expense		 3.25 3.17 2.82 1.64 1.02 2.12 5.69 2.83 0.26 0.66 0.23
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 37.72% 34.38% 36.42% 36.76% 33.77% 26.93% 28.80% 33.65% 63.66% 17.06% 19.25%
Augmented Payout Ratio		 37.72% 34.38% 36.42% 36.76% 33.77% 26.93% 28.80% 33.65% 63.66% 17.06% 19.25%

Quarterly Metrics And Ratios for Finward Bancorp

This table displays calculated financial ratios and metrics derived from Finward Bancorp's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 4,303,766.00 4,300,517.00 4,299,092.00 4,310,251.00 4,313,940.00 - 4,324,485.00 4,325,589.00 4,324,889.00 4,327,000.00 4,330,486.00
DEI Adjusted Shares Outstanding		 4,303,766.00 4,300,517.00 4,299,092.00 4,310,251.00 4,313,940.00 - 4,324,485.00 4,325,589.00 4,324,889.00 4,327,000.00 4,330,486.00
DEI Earnings Per Adjusted Shares Outstanding		 0.51 0.35 2.16 0.03 0.14 - 0.11 0.50 0.81 0.46 0.52
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -22.88% -21.37% 46.19% -14.19% -4.23% 5.75% -38.46% 13.68% 16.69% 1.08% 12.52%
EBITDA Growth		 -46.98% -38.55% 228.74% -61.08% -29.78% 36.64% -81.48% 101.67% 100.92% -24.94% 80.05%
EBIT Growth		 -65.03% -71.15% 300.27% -94.72% -77.75% 131.26% -93.99% 1,479.10% 792.23% -31.94% 332.63%
NOPAT Growth		 -51.91% -61.82% 314.24% -94.13% -72.34% 39.11% -95.10% 1,404.20% 477.06% -5.61% 392.75%
Net Income Growth		 -51.91% -61.82% 314.24% -94.13% -72.34% 39.11% -95.10% 1,404.20% 477.06% -5.61% 392.75%
EPS Growth		 -52.34% -61.46% 325.49% -94.74% -72.55% 35.14% -94.93% 1,566.67% 478.57% -8.00% 372.73%
Operating Cash Flow Growth		 -9.07% -69.82% -100.63% -79.16% -171.29% 487.55% -15,136.00% 73.42% 132.21% -28.36% 195.43%
Free Cash Flow Firm Growth		 -354.12% 108.21% 93.79% 133.44% 71.54% 39.09% 661.67% -80.29% 212.91% -102.47% 12.49%
Invested Capital Growth		 36.29% -2.36% 5.43% -16.97% 7.57% -3.37% -10.33% -3.26% -6.49% 1.50% -12.27%
Revenue Q/Q Growth		 -8.89% -0.52% 63.46% -42.08% 1.68% 9.86% -4.88% 6.99% 4.38% -4.85% 5.89%
EBITDA Q/Q Growth		 -25.58% -8.75% 269.00% -84.47% 34.28% 77.56% -49.98% 69.09% 33.79% -33.67% 20.00%
EBIT Q/Q Growth		 -29.30% -35.58% 787.53% -98.69% 197.76% 569.42% -76.94% 243.51% 68.24% -48.93% 46.59%
NOPAT Q/Q Growth		 -10.13% -31.04% 514.10% -98.46% 323.78% 246.86% -78.35% 372.75% 62.58% -43.27% 13.00%
Net Income Q/Q Growth		 -10.13% -31.04% 514.10% -98.46% 323.78% 246.86% -78.35% 372.75% 62.58% -43.27% 13.00%
EPS Q/Q Growth		 -10.53% -27.45% 486.49% -98.62% 366.67% 257.14% -78.00% 354.55% 62.00% -43.21% 13.04%
Operating Cash Flow Q/Q Growth		 -60.40% -64.80% -101.36% 11,100.00% -235.45% 390.07% -135.25% 225.20% -74.84% 545.08% -53.04%
Free Cash Flow Firm Q/Q Growth		 59.30% 111.50% -166.52% 1,173.69% -134.63% 156.23% -42.03% -62.33% 98.45% -105.71% 2,737.08%
Invested Capital Q/Q Growth		 -19.75% -0.70% 6.50% -2.16% 3.97% -10.80% 17.14% 5.55% 0.50% -18.32% 1.25%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 22.88% 20.98% 47.37% 12.70% 16.78% 27.11% 14.26% 22.53% 28.88% 20.13% 22.82%
EBIT Margin		 11.55% 7.48% 40.59% 0.92% 2.68% 16.35% 3.96% 12.73% 20.51% 11.01% 15.24%
Profit (Net Income) Margin		 14.11% 9.78% 36.74% 0.98% 4.07% 12.86% 2.93% 12.94% 20.15% 12.01% 12.82%
Tax Burden Percent		 122.20% 130.82% 90.52% 106.72% 151.88% 78.70% 73.86% 101.65% 98.23% 109.13% 84.13%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 -22.20% -30.82% 9.48% -6.72% -51.88% 21.30% 26.14% -1.65% 1.77% -9.13% 15.87%
Return on Invested Capital (ROIC)		 4.23% 2.38% 9.78% 0.23% 1.03% 3.50% 0.67% 3.01% 4.77% 3.64% 3.66%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.23% 2.38% 9.78% 0.23% 1.03% 3.50% 0.67% 3.01% 4.77% 3.64% 3.66%
Return on Net Nonoperating Assets (RNNOA)		 4.04% 2.12% 8.71% 0.26% 1.02% 2.62% 0.51% 2.40% 3.40% 1.23% 1.71%
Return on Equity (ROE)		 8.27% 4.50% 18.48% 0.49% 2.05% 6.12% 1.18% 5.41% 8.17% 4.87% 5.38%
Cash Return on Invested Capital (CROIC)		 -26.05% 5.51% 0.31% 22.85% -3.14% 8.07% 12.12% 5.27% 9.66% 2.22% 17.23%
Operating Return on Assets (OROA)		 0.39% 0.23% 1.43% 0.03% 0.09% 0.56% 0.12% 0.39% 0.65% 0.36% 0.51%
Return on Assets (ROA)		 0.47% 0.31% 1.29% 0.03% 0.14% 0.44% 0.09% 0.40% 0.64% 0.39% 0.43%
Return on Common Equity (ROCE)		 8.27% 4.50% 18.48% 0.49% 2.05% 6.12% 1.18% 5.41% 8.17% 4.87% 5.38%
Return on Equity Simple (ROE_SIMPLE)		 9.10% 0.00% 10.17% 8.83% 7.23% 0.00% 2.18% 3.45% 4.96% 0.00% 5.73%
Net Operating Profit after Tax (NOPAT)		 2.19 1.51 9.28 0.14 0.61 2.10 0.46 2.15 3.50 1.98 2.24
NOPAT Margin		 14.11% 9.78% 36.74% 0.98% 4.07% 12.86% 2.93% 12.94% 20.15% 12.01% 12.82%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 58.12% 74.32% 43.46% 67.49% 66.93% 78.89% 64.49% 60.18% 58.42% 56.89% 61.05%
Operating Expenses to Revenue		 86.88% 87.48% 59.41% 98.56% 97.32% 87.20% 93.12% 88.92% 81.22% 89.50% 84.45%
Earnings before Interest and Taxes (EBIT)		 1.79 1.16 10 0.13 0.40 2.67 0.62 2.12 3.56 1.82 2.67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.55 3.24 12 1.86 2.50 4.43 2.22 3.75 5.01 3.33 3.99
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.79 0.72 0.68 0.70 0.85 0.80 0.82 0.77 0.84 0.87 0.91
Price to Tangible Book Value (P/TBV)		 1.01 0.87 0.82 0.84 1.01 0.95 0.97 0.92 0.98 1.00 1.06
Price to Revenue (P/Rev)		 1.35 1.62 1.41 1.47 1.93 1.70 2.02 1.89 2.11 2.30 2.31
Price to Earnings (P/E)		 8.64 12.66 6.71 7.92 11.77 9.95 37.54 22.48 16.91 18.77 15.92
Dividend Yield		 5.71% 5.03% 4.36% 3.57% 2.13% 1.72% 1.67% 1.74% 1.50% 1.37% 1.32%
Earnings Yield		 11.58% 7.90% 14.90% 12.63% 8.50% 10.05% 2.66% 4.45% 5.91% 5.33% 6.28%
Enterprise Value to Invested Capital (EV/IC)		 0.64 0.52 0.58 0.54 0.67 0.61 0.61 0.48 0.51 0.35 0.40
Enterprise Value to Revenue (EV/Rev)		 2.45 2.12 2.22 2.10 2.74 2.18 2.50 2.04 2.10 1.17 1.30
Enterprise Value to EBITDA (EV/EBITDA)		 9.87 9.09 6.92 7.21 9.83 7.48 13.95 10.04 8.96 5.39 5.50
Enterprise Value to EBIT (EV/EBIT)		 15.62 17.18 10.35 11.15 16.10 11.54 40.17 22.30 15.40 9.51 8.71
Enterprise Value to NOPAT (EV/NOPAT)		 15.72 16.49 10.56 11.33 16.65 12.80 46.41 24.35 16.82 9.54 8.96
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.98 5.71 8.05 15.19 229.04 15.83 25.48 16.09 10.65 7.79 5.10
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 9.33 189.36 2.13 0.00 7.37 4.72 9.03 5.14 15.94 2.16
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.25 0.80 0.87 0.86 0.80 0.69 0.67 0.73 0.62 0.26 0.29
Long-Term Debt to Equity		 0.84 0.54 0.59 0.57 0.53 0.43 0.37 0.42 0.33 0.26 0.29
Financial Leverage		 0.96 0.89 0.89 1.14 0.99 0.75 0.77 0.80 0.71 0.34 0.47
Leverage Ratio		 17.47 14.73 14.32 14.85 14.94 13.95 13.55 13.65 12.70 12.52 12.51
Compound Leverage Factor		 17.47 14.73 14.32 14.85 14.94 13.95 13.55 13.65 12.70 12.52 12.51
Debt to Total Capital		 55.47% 44.50% 46.38% 46.27% 44.52% 40.98% 40.12% 42.35% 38.46% 20.49% 22.48%
Short-Term Debt to Total Capital		 18.07% 14.36% 14.55% 15.54% 14.96% 15.64% 17.77% 18.06% 18.01% 0.00% 0.00%
Long-Term Debt to Total Capital		 37.40% 30.14% 31.83% 30.73% 29.56% 25.34% 22.35% 24.29% 20.45% 20.49% 22.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.53% 55.50% 53.62% 53.73% 55.48% 59.02% 59.88% 57.65% 61.54% 79.51% 77.52%
Debt to EBITDA		 8.60 7.77 5.57 6.21 6.55 5.07 9.25 8.79 6.71 3.15 3.11
Net Debt to EBITDA		 4.45 2.11 2.52 2.17 2.88 1.66 2.67 0.77 -0.05 -5.22 -4.28
Long-Term Debt to EBITDA		 5.80 5.26 3.82 4.12 4.35 3.13 5.15 5.04 3.57 3.15 3.11
Debt to NOPAT		 13.70 14.10 8.50 9.75 11.10 8.67 30.77 21.33 12.61 5.56 5.06
Net Debt to NOPAT		 7.08 3.83 3.85 3.41 4.89 2.85 8.88 1.87 -0.09 -9.23 -6.96
Long-Term Debt to NOPAT		 9.24 9.55 5.84 6.48 7.37 5.36 17.14 12.23 6.70 5.56 5.06
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -69 7.94 -5.28 57 -20 11 30 11 22 -1.27 33
Operating Cash Flow to CapEx		 1,602.76% 0.00% 0.00% 163.11% -733.27% 4,867.12% -2,081.42% 1,715.47% 0.00% 8,796.59% 2,692.59%
Free Cash Flow to Firm to Interest Expense		 -7.98 0.83 -0.52 5.63 -1.88 1.11 3.28 1.28 2.49 -0.15 4.36
Operating Cash Flow to Interest Expense		 0.60 0.19 0.00 0.27 -0.36 1.08 -0.42 0.55 0.13 0.92 0.48
Operating Cash Flow Less CapEx to Interest Expense		 0.57 0.24 1.67 0.11 -0.40 1.06 -0.44 0.51 0.19 0.91 0.46
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 1.68 1.66 1.67 1.61 1.62 1.66 1.30 1.34 1.41 1.43 1.49
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 267 265 283 277 288 257 254 268 269 220 222
Invested Capital Turnover		 0.30 0.24 0.27 0.23 0.25 0.27 0.23 0.23 0.24 0.30 0.29
Increase / (Decrease) in Invested Capital		 71 -6.43 15 -57 20 -8.94 -29 -9.02 -19 3.25 -31
Enterprise Value (EV)		 170 138 163 149 192 155 153 129 138 77 88
Market Capitalization		 94 106 103 104 136 121 124 119 139 152 157
Book Value per Share		 $27.66 $34.26 $35.26 $34.48 $36.99 $35.10 $35.19 $35.66 $38.27 $40.37 $39.81
Tangible Book Value per Share		 $21.61 $28.29 $29.37 $28.69 $31.28 $29.48 $29.62 $30.16 $32.79 $34.92 $34.39
Total Capital		 267 265 283 277 288 257 254 268 269 220 222
Total Debt		 148 118 131 128 128 105 102 113 103 45 50
Total Long-Term Debt		 100 80 90 85 85 65 57 65 55 45 50
Net Debt		 77 32 59 45 56 35 29 9.92 -0.75 -75 -69
Capital Expenditures (CapEx)		 0.33 -0.44 -17 1.69 0.51 0.22 0.18 0.28 -0.52 0.09 0.14
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 148 118 131 128 128 105 102 113 103 45 50
Total Depreciation and Amortization (D&A)		 1.76 2.09 1.71 1.72 2.10 1.76 1.60 1.63 1.45 1.51 1.33
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.52 $0.35 $2.18 $0.03 $0.14 $0.50 $0.11 $0.50 $0.82 $0.46 $0.52
Adjusted Weighted Average Basic Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Adjusted Diluted Earnings per Share		 $0.51 $0.37 $2.17 $0.03 $0.14 $0.50 $0.11 $0.50 $0.81 $0.46 $0.52
Adjusted Weighted Average Diluted Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 4.30M 4.30M 4.31M 4.31M 4.31M 4.32M 4.33M 4.32M 4.33M 4.33M 4.33M
Normalized Net Operating Profit after Tax (NOPAT)		 1.26 0.81 9.28 0.09 0.28 2.10 0.46 1.48 3.50 1.27 2.24
Normalized NOPAT Margin		 8.08% 5.23% 36.74% 0.64% 1.88% 12.86% 2.93% 8.91% 20.15% 7.71% 12.82%
Pre Tax Income Margin		 11.55% 7.48% 40.59% 0.92% 2.68% 16.35% 3.96% 12.73% 20.51% 11.01% 15.24%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.21 0.12 1.00 0.01 0.04 0.27 0.07 0.24 0.40 0.22 0.35
NOPAT to Interest Expense		 0.25 0.16 0.91 0.01 0.06 0.21 0.05 0.25 0.39 0.24 0.29
EBIT Less CapEx to Interest Expense		 0.17 0.17 2.67 -0.15 -0.01 0.25 0.05 0.21 0.46 0.21 0.33
NOPAT Less CapEx to Interest Expense		 0.22 0.20 2.58 -0.15 0.01 0.19 0.03 0.21 0.45 0.23 0.28
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 49.26% 63.66% 29.30% 28.18% 25.02% 17.06% 62.67% 29.34% 18.96% 19.25% 15.79%
Augmented Payout Ratio		 49.26% 63.66% 29.30% 28.18% 25.02% 17.06% 62.67% 29.34% 18.96% 19.25% 15.79%

Financials Breakdown Chart

Key Financial Trends

Finward Bancorp (NASDAQ: FNWD) showed a much improved start to 2026 compared with the same quarter last year, but the broader multi-year picture still reflects a bank that has had to work through margin pressure, deposit volatility, and a meaningful drop in balance-sheet equity.

In Q1 2026, FNWD reported net income of $2.24 million, up from $455,000 in Q1 2025 and $1.98 million in Q4 2025. Earnings per share improved to $0.52 from $0.11 a year earlier. Revenue was $17.49 million, supported by $15.07 million of net interest income and $2.42 million of non-interest income.

However, the company’s earnings power is still well below the stronger periods seen in early 2024, when quarterly net income exceeded $9 million. The latest quarter also showed some pressure on deposits and funding, along with a modest decline in cash and equivalents.

  • Profitability improved sharply year over year: Q1 2026 net income of $2.24 million was up meaningfully from $455,000 in Q1 2025.
  • Operating cash flow was solid: FNWD generated $3.64 million of operating cash in Q1 2026, versus $7.74 million in Q4 2025 and a loss of cash from operations in Q1 2025.
  • Credit costs stayed low: Provision for credit losses was just $55,000 in Q1 2026, suggesting limited immediate pressure from loan losses.
  • Net interest income held up: At $15.07 million, NII was slightly above Q4 2025 and well above Q1 2025 levels.
  • Common equity increased sequentially: Total common equity rose to $172.4 million in Q1 2026 from $165.5 million in Q3 2025.
  • Loan balances were relatively stable: Loans and leases net were $1.44 billion in Q1 2026, only modestly below recent quarters.
  • The bank continues paying dividends: FNWD paid $0.12 per share in common dividends in the latest quarter.
  • Liquidity remains adequate but not booming: Cash and due from banks plus interest-bearing deposits at other banks totaled a little over $118 million at quarter-end.
  • Deposits declined in the latest quarter: Net change in deposits was down $7.9 million in Q1 2026, after larger deposit swings in prior periods.
  • Balance-sheet leverage remains meaningful: Total liabilities of $1.84 billion still dwarf common equity of $172.4 million, which leaves the bank sensitive to funding and asset-quality changes.

Looking back over the last four years, FNWD’s trend is mixed. Revenue and earnings were much stronger in early 2024, but performance weakened through parts of 2025 before improving again in Q1 2026. Net interest income has been fairly resilient, yet it has been offset at times by higher funding costs, uneven non-interest income, and sizable swings in other operating expenses.

The balance sheet also shows some caution flags. Total assets were $2.02 billion in Q1 2026, down slightly from the 2024-2025 range, while common equity has generally drifted lower from the stronger levels seen in early 2024. The accumulated other comprehensive loss remains a drag on equity. For retail investors, FNWD looks like a bank that is recovering from a softer stretch, but still faces the usual small-bank challenges of deposit retention, margin management, and expense control.

07/17/26 01:41 PM ETAI Generated. May Contain Errors.

Finward Bancorp Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Finward Bancorp's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Finward Bancorp's net income appears to be on an upward trend, with a most recent value of $8.09 million in 2025, rising from $7.85 million in 2015. The previous period was $12.13 million in 2024. View Finward Bancorp's forecast to see where analysts expect Finward Bancorp to go next.

Over the last 10 years, Finward Bancorp's total revenue changed from $34.22 million in 2015 to $66.04 million in 2025, a change of 93.0%.

Finward Bancorp's total liabilities were at $1.85 billion at the end of 2025, a 3.3% decrease from 2024, and a 135.5% increase since 2015.

In the past 10 years, Finward Bancorp's cash and equivalents has ranged from $9.92 million in 2015 to $20.96 million in 2019, and is currently $18.27 million as of their latest financial filing in 2025.

Over the last 10 years, Finward Bancorp's book value per share changed from 28.38 in 2015 to 40.37 in 2025, a change of 42.3%.


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Financial statements for NASDAQ:FNWD last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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