Form 8-K

8-K — Finward Bancorp

Accession: 0001628280-26-067582

Filed: 2026-10-27

Period: 2026-10-27

CIK: 0000919864

SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — fnwd-20261027.htm (Primary)

EX-99.1 (fnwd-2026930xexx991er.htm)

GRAPHIC (finward_rgb.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: fnwd-20261027.htm · Sequence: 1

fnwd-20261027

false000091986400009198642026-10-272026-10-27

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): October 27, 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:

☒ 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 October 27, 2026, Finward Bancorp (the “Bancorp”) issued a press release reporting its unaudited financial results for the quarter ended September 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 September 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: October 27, 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-2026930xexx991er.htm · Sequence: 2

FNWD-2026.9.30-EX-99.1 ER

Exhibit 99.1

October 27, 2026

Finward Bancorp Announces Third 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 $1.4 million, or $0.31 per diluted share,

for the quarter ended September 30, 2026, as compared to $2.1 million, or $0.48 per diluted share, for the quarter ended

June 30, 2026. Selected performance metrics are as follows for the periods presented:

Performance Ratios

Quarter ended

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

Return on equity

3.10%

4.74%

5.00%

4.66%

8.96%

Return on assets

0.27%

0.42%

0.44%

0.39%

0.68%

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

3.51%

3.37%

3.35%

3.32%

3.18%

Non-interest income/average assets

0.52%

0.48%

0.29%

0.57%

Non-interest expense/average assets

3.35%

2.95%

2.93%

2.90%

2.74%

Efficiency ratio (non-GAAP)

91.32%

84.52%

84.45%

89.50%

81.22%

"The third quarter was impacted by merger-related expenses related to our pending merger with First Financial, announced

earlier in the quarter. The quarter included additional expenses in the areas of compensation and benefits, and third-party

costs associated with the merger," said Benjamin Bochnowski, Chief Executive Officer. "Credit quality remained stable, as

did our core banking business and customer base. The rapid increase in interest rates contributed positively to loan yields

and margin, although it also resulted in higher unrealized losses in the bond portfolio. We continue to make progress

toward closing our merger with First Financial, and we believe the combination of our companies will have benefits for our

shareholders, customers, communities, and employees. Throughout this process, our commitment to our customers and

communities grounds the team, and our team is working diligently to ensure a seamless transition that maximizes the

promise of the merger.”

Highlights of the current period include:

•Net Interest Margin - The net interest margin for the quarter ended September 30, 2026 was 3.39% compared to

3.25% for the quarter ended June 30, 2026. Net interest margin on a tax-equivalent basis (a non-GAAP measure) for

the quarter ended September 30, 2026 was 3.51%, as compared to 3.37% for the quarter ended June 30, 2026. Net

interest margin increased from the prior quarter primarily due to continued repricing and maturity of the existing loan

portfolio, as well as full quarterly loan yield results from new loan origination strength during the second quarter.

•Funding - As of September 30, 2026, deposits totaled $1.76 billion, an increase of $25.9 million, or 1.5% compared

with June 30, 2026 balances, which totaled $1.73 billion. As of September 30, 2026, non-interest-bearing deposits

totaled $281.5 million, an increase of $10.8 million. Core deposits totaled $1.3 billion at September 30, 2026 and $1.2

billion at June 30, 2026. Core deposits include checking, savings, and money market accounts and represented 71.9%

of the Bancorp’s total deposits at September 30, 2026. As of September 30, 2026, balances for certificates of deposit

totaled $493.3 million, compared to $497.4 million on June 30, 2026, a decrease of $4.1 million or 0.8%. The increase

in total portfolio deposits is primarily related to cyclical flows and continued adjustments to deposit pricing. In

addition, as of September 30, 2026, borrowings, federal funds purchased and repurchase agreements totaled $59.8

million, a decrease of $35.5 million or 37.2%, compared to June 30, 2026. The decrease in borrowings was primarily

attributable to a reduction in FHLB advances resulting from deposit balance strength.

As of September 30, 2026, 71.7% of our deposits are fully FDIC insured, and another 8.3% 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

Exhibit 99.1

sources. As of September 30, 2026, the Bancorp had available liquidity of $623 million including borrowing capacity

from the FHLB and Federal Reserve facilities.

•Securities Portfolio - Securities available for sale balances decreased by $30.3 million to $279.9 million as of

September 30, 2026, compared to $310.2 million as of June 30, 2026. The yield on the securities portfolio increased to

2.33% for the three months ended September 30, 2026 from 2.27% for the three months ended June 30, 2026. The

decrease in securities available for sale was primarily attributable to an increase in the negative fair value adjustment

to securities. The Bank did not sell any securities during the quarter.

•Lending - The Bank’s aggregate loan portfolio totaled $1.50 billion on September 30, 2026 and $1.50 billion on

June 30, 2026. During the three months ended September 30, 2026, the Bank originated $69.7 million in new

commercial loans, compared to $81.3 million during the three months ended June 30, 2026. At September 30, 2026,

the Bancorp’s portfolio loan balances in commercial real estate owner occupied properties totaled $263.5 million or

17.6% of loans receivable and commercial real estate non-owner occupied properties totaled $332.4 million or 22.2%

of loans receivable. Of the $332.4 million in commercial real estate non-owner occupied properties balances, loans

collateralized by office buildings represented $31.5 million or 2.1% of total loan balances.

•Asset Quality - At September 30, 2026, non-performing loans totaled $16.8 million, compared to $16.5 million at

June 30, 2026, an increase of $239 thousand or 1.4%. The Bank’s ratio of non-performing loans to total loans was

1.12% at September 30, 2026, compared to 1.10% at June 30, 2026. The Bank’s ratio of non-performing assets to total

assets was 0.92% at September 30, 2026 and 0.90% at June 30, 2026. The increase in non-performers included the

addition of a $1.1 million residential real estate loan coupled with eight smaller loans averaging $89 thousand across

eight relationships. These were offset by the removal of thirteen loans totaling $1.2 million in the commercial real

estate, commercial business and residential real estate loan segments. 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 $17.5 million at September 30, 2026, or 1.17% of total loans

receivable, compared to $17.7 million at June 30, 2026, or 1.18% of total loans receivable, a decrease of $257

thousand or 1.49%. The Bank's unused commitment reserve, included in other liabilities, totaled $2.0 million at

September 30, 2026, compared to $1.9 million at June 30, 2026, an increase of $36 thousand or 1.8%.

For the quarter ended September 30, 2026, the Bank recorded a net provision for credit loss totaling $124 thousand

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

third quarter's provision consisted of a $88 thousand provision for credit losses on loans, and a $36 thousand provision

of credit losses on unused commitments. For the quarter ended September 30, 2026, net loan charge-offs totaled $240

thousand, compared to net loan recoveries of $31 thousand for the quarter ended June 30, 2026. The allowance for

credit losses as a percentage of non-performing loans, or coverage ratio, was 104.5% at September 30, 2026, compared

to 106.9% at June 30, 2026.

•Operating Income and Expenses - Non-interest income as a percentage of average assets was 0.52% for the quarter

ended September 30, 2026 and 0.48% for the quarter ended June 30, 2026. Non-interest expense as a percentage of

average assets was 3.35% for the quarter ended September 30, 2026, as compared to 2.95% for the quarter ended

June 30, 2026. The increase in non-interest income as compared to the prior quarter was due to a $182 thousand gain

associated with the sale of one of the Bancorp's branch locations. The increase in non-interest expense quarter over

quarter was primarily attributable to one-time compensation and benefits adjustments totaling $1.8 million and

professional and outside services expenses totaling $536 thousand, both associated with the Bancorp's pending merger.

•Capital Adequacy - The Bank’s tier 1 leverage ratio was 9.29% as of September 30, 2026 and 9.31% as of June 30,

2026. The Bank’s capital continues to exceed all applicable regulatory capital requirements. The Bancorp’s tangible

book value per share (non-GAAP) was $31.07 at September 30, 2026, down from $35.75 as of June 30, 2026.

Tangible common equity to tangible assets (non-GAAP) was 6.76% at September 30, 2026, down from 7.68% as of

June 30, 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: the ability of First Financial Bancorp ("First Financial") and the Bancorp to

complete the proposed merger; the effects of the pendency of the proposed merger with First Financial on the Bancorp and

its business; 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; 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.

Important Additional Information About the Transaction and Where to Find It

In connection with the proposed merger transaction between First Financial and the Bancorp (the “Merger”), First

Financial has filed with the SEC a Registration Statement on Form S-4 (the “Registration Statement”) to register the shares

of First Financial common stock to be issued in connection with the proposed transaction. The Registration Statement

includes a proxy statement of the Bancorp and a prospectus of First Financial (the “Proxy Statement/Prospectus”), and First

Financial and the Bancorp may file with the SEC other relevant documents concerning the proposed transaction. First

Financial and the Bancorp have mailed the definitive Proxy Statement/Prospectus to shareholders of the Bancorp (which

mailings were first made on or about September 28, 2026. BEFORE MAKING ANY VOTING OR INVESTMENT

DECISION, INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT

AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION IN THEIR ENTIRETY

AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR

SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT

FIRST FINANCIAL, THE BANCORP AND THE PROPOSED TRANSACTION AND RELATED MATTERS.

A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other filings containing information about

First Financial and the Bancorp, may be obtained, free of charge, at the SEC’s website (www.sec.gov). Copies of

documents filed with the SEC by First Financial will be made available free of charge in the “Investor Relations” section of

First Financial’s website, https://www.bankatfirst.com/about/investor-relations.html. Copies of documents filed with the

SEC by the Bancorp will be made available free of charge in the “Investor Relations” section of the Bancorp’s website,

https://investorrelations.ibankpeoples.com/. The information on First Financial’s and the Bancorp’s websites is not, and

shall not be deemed to be, a part of this communication or incorporated into other filings either company makes with the

SEC.

Participants in Solicitation

The Bancorp and its directors, executive officers, management and employees may be deemed to be participants in the

solicitation of proxies in respect of the Merger. Information concerning the Bancorp’s participants is set forth in the Proxy

Statement, dated April 3, 2026, for the Company’s 2026 annual meeting of shareholders as filed with the SEC on Schedule

14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction

and interests of the participants of the Bancorp in the solicitation of proxies in respect of the Merger are included in the

Registration Statement and Proxy Statement/Prospectus on file with the SEC. Free copies of these documents may be

obtained as described in the preceding paragraph.

FOR FURTHER INFORMATION

CONTACT SHAREHOLDER SERVICES

(219) 853-7575

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Performance Ratios

Quarter Ended

Nine Months Ended

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

9/30/2026

9/30/2025

Return on equity

3.10%

4.74%

5.00%

4.66%

8.96%

4.29%

5.27%

Return on assets

0.27%

0.42%

0.44%

0.39%

0.68%

0.38%

0.40%

Yield on loans

5.73%

5.55%

5.50%

5.64%

5.49%

5.60%

5.37%

Yield on security investments

2.33%

2.27%

2.22%

2.29%

2.40%

2.28%

2.40%

Total yield on earning assets

5.10%

4.93%

4.86%

4.96%

4.91%

4.97%

4.82%

Cost of interest-bearing deposits

2.04%

1.98%

1.92%

2.09%

2.16%

1.98%

2.15%

Cost of federal funds purchased and repurchase

agreements

2.85%

2.82%

2.85%

3.12%

3.37%

2.84%

3.35%

Cost of borrowed funds

3.90%

3.80%

3.70%

3.64%

3.80%

3.90%

Total cost of interest-bearing liabilities

2.11%

2.06%

2.00%

2.16%

2.25%

2.06%

2.25%

Net interest margin

3.39%

3.25%

3.23%

3.18%

3.04%

3.29%

2.94%

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

3.51%

3.37%

3.35%

3.32%

3.18%

3.41%

3.08%

Non-interest income/average assets

0.52%

0.48%

0.29%

0.57%

0.49%

0.51%

Non-interest expense/average assets

3.35%

2.95%

2.93%

2.90%

2.74%

3.08%

2.81%

Efficiency ratio (non-GAAP) (1)

91.32%

84.52%

84.45%

89.50%

81.22%

86.85%

87.54%

Non-performing assets to total assets

0.92%

0.90%

0.71%

0.65%

0.76%

0.92%

0.76%

Non-performing loans to total loans

1.12%

1.10%

0.85%

0.77%

0.94%

1.12%

0.94%

Allowance for credit losses to non-performing loans

104.49%

106.92%

139.72%

156.84%

129.41%

104.49%

129.41%

Allowance for credit losses to loans receivable

1.17%

1.18%

1.19%

1.21%

1.22%

1.17%

1.22%

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

loans receivable

0.06%

(0.01%)

0.00%

0.08%

0.07%

(0.01)%

Basic earnings per share

$0.32

$0.49

$0.52

$0.46

$0.82

$1.33

$1.43

Diluted earnings per share

$0.31

$0.48

$0.52

$0.46

$0.81

$1.32

$1.42

Weighted average common shares outstanding—basic

4,283,138

4,280,844

4,276,530

4,273,421

4,273,022

4,280,195

4,270,652

Weighted average common shares outstanding—diluted

4,325,700

4,319,052

4,302,206

4,301,462

4,299,007

4,318,918

4,291,171

Stockholders' equity to total assets

7.84%

8.74%

8.56%

8.64%

8.06%

7.84%

8.06%

Tangible common equity to tangible assets (non-GAAP)

(1)

6.76%

7.68%

7.48%

7.56%

6.99%

6.76%

6.99%

Book value per share

$36.45

$41.15

$39.81

$40.37

$38.24

$36.45

$38.24

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

$31.07

$35.75

$34.39

$34.92

$32.77

$31.07

$32.77

Closing stock price

$41.65

$36.78

$36.30

$35.19

$32.09

$41.65

$32.09

Dividends declared per common share

$0.12

$0.36

$0.24

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

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Average Balances, Interest, Rates

Quarter Ended

September 30, 2026

June 30, 2026

March 31, 2026

(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

$75,192

$683

3.63%

$78,886

$718

3.64%

$96,250

$949

3.94%

Federal funds sold

1,276

2.82%

1,046

3.06%

1,523

2.89%

Securities available-for-sale

303,374

1,768

2.33%

309,251

1,757

2.27%

318,670

1,771

2.22%

Loans receivable

1,495,817

21,438

5.73%

1,474,063

20,468

5.55%

1,445,921

19,871

5.50%

Federal Home Loan Bank stock

6,547

119

7.27%

6,547

114

6.97%

6,547

119

7.27%

Total interest earning assets

1,882,206

$24,017

5.10%

1,869,793

$23,065

4.93%

1,868,911

$22,721

4.86%

Cash and non-interest bearing

deposits in other financial

institutions

15,864

15,504

21,331

Allowance for credit losses

(17,541)

(17,418)

(17,608)

Other non-interest bearing assets

144,816

143,484

143,452

Total assets

$2,025,345

$2,011,363

$2,016,086

LIABILITIES AND

STOCKHOLDERS' EQUITY

Interest-bearing deposits

$1,462,769

$7,478

2.04%

$1,446,072

$7,159

1.98%

$1,447,994

$6,959

1.92%

Federal funds purchased and

repurchase agreements

26,852

191

2.85%

33,076

233

2.82%

38,113

272

2.85%

Borrowed funds

41,630

406

3.90%

51,925

493

3.80%

45,334

419

3.70%

Total interest bearing liabilities

1,531,251

$8,075

2.11%

1,531,073

$7,885

2.06%

1,531,441

$7,650

2.00%

Non-interest bearing deposits

282,313

268,540

270,626

Other non-interest bearing

liabilities

36,373

35,243

34,588

Total liabilities

1,849,937

1,834,856

1,836,655

Total stockholders' equity

175,408

176,507

179,431

Total liabilities and

stockholders' equity

$2,025,345

$2,011,363

$2,016,086

Net interest income

$15,942

$15,180

$15,071

Return on average assets

0.27%

0.42%

0.44%

Return on average equity

3.10%

4.74%

5.00%

Net interest margin

3.39%

3.25%

3.23%

Net interest margin, tax-equivalent

(non-GAAP)(1)

3.51%

3.37%

3.35%

Net interest spread

2.99%

2.87%

2.86%

Ratio of interest-earning assets to

interest-bearing liabilities

1.23x

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

Third Quarter 2026 Financial Results (unaudited)

Consolidated Balance Sheets

As of

(Dollars in thousands)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

ASSETS

Cash and non-interest bearing deposits in other financial institutions

$16,630

$17,384

$15,758

$18,265

$19,458

Interest bearing deposits in other financial institutions

74,978

76,270

102,997

101,382

84,157

Federal funds sold

1,051

988

563

Total cash and cash equivalents

92,659

94,642

118,755

119,647

104,178

Securities available-for-sale

279,869

310,198

307,686

316,227

335,150

Loans held-for-sale

2,181

1,083

1,096

2,641

Loans receivable, net of deferred fees and costs

1,499,222

1,503,793

1,455,118

1,450,387

1,473,774

Less: allowance for credit losses

(17,542)

(17,694)

(17,285)

(17,506)

(17,977)

Net loans receivable

1,481,680

1,486,099

1,437,833

1,432,881

1,455,797

Federal Home Loan Bank stock

6,547

Accrued interest receivable

7,802

7,671

7,700

7,781

7,585

Premises and equipment

43,499

43,932

44,315

44,976

45,544

Cash value of bank owned life insurance

34,225

34,010

33,786

33,586

33,843

Goodwill

22,395

Other intangible assets

896

984

1,076

1,172

1,273

Other assets

42,372

33,145

35,063

34,873

37,771

Total assets

$2,014,125

$2,040,706

$2,015,156

$2,021,181

$2,052,724

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:

Non-interest bearing

$281,477

$270,682

$278,705

$267,441

$280,296

Interest bearing

1,476,980

1,461,862

1,440,366

1,459,530

1,470,350

Total

1,758,457

1,732,544

1,719,071

1,726,971

1,750,646

Federal funds purchased and repurchase agreements

24,849

30,301

40,815

39,703

48,426

Borrowed funds

35,000

65,000

50,000

45,000

55,000

Accrued expenses and other liabilities

37,977

34,574

32,870

34,844

33,157

Total liabilities

1,856,283

1,862,419

1,842,756

1,846,518

1,887,229

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

71,232

70,530

70,397

70,331

70,233

Accumulated other comprehensive loss

(63,520)

(41,532)

(45,713)

(41,662)

(49,266)

Retained earnings

150,130

149,289

147,716

145,994

144,528

Total stockholders' equity

157,842

178,287

172,400

174,663

165,495

Total liabilities and stockholders' equity

$2,014,125

$2,040,706

$2,015,156

$2,021,181

$2,052,724

(1) Shares of common stock issued and outstanding were 4,330,893 at 9/30/2026; 4,333,002 at 6/30/2026; 4,330,486 at 3/31/2026; 4,326,747 at

12/31/2025; and 4,327,511 at 9/30/2025.

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Consolidated Statements of Income

Quarter Ended

(Dollars in thousands, except per share data)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

Interest income:

Loans

$21,438

$20,468

$19,871

$20,496

$20,246

Securities & short-term investments

2,579

2,597

2,850

2,916

3,094

Total interest income

24,017

23,065

22,721

23,412

23,340

Interest expense:

Deposits

7,478

7,159

6,959

7,605

7,996

Borrowings

597

726

691

765

901

Total interest expense

8,075

7,885

7,650

8,370

8,897

Net interest income

15,942

15,180

15,071

15,042

14,443

Provision for (benefit from) credit losses

124

264

(84)

(301)

Net interest income after provision for credit losses

15,818

14,916

15,016

15,126

14,744

Non-interest income:

Fees and service charges

1,251

1,331

1,295

1,485

1,463

Wealth management operations

725

748

661

659

759

Gain (loss) on tax credit investment

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

281

228

257

346

265

Gain (loss) on sale of securities, net

(1,577)

Bank owned life insurance

215

223

201

522

439

Gain (loss) on sale of property and equipment

182

(180)

(56)

Other

Total non-interest income

2,655

2,398

2,417

1,473

2,913

Non-interest expense:

Compensation and benefits

9,735

8,033

7,591

7,573

7,330

Occupancy and equipment

1,693

1,741

1,991

2,111

2,004

Data processing

1,210

1,176

1,105

1,465

1,116

Federal deposit insurance premiums

383

347

381

417

399

Marketing

399

266

587

230

257

Professional and outside services

1,614

1,221

1,169

906

945

Technology

594

516

508

521

549

Other

1,355

1,557

1,436

1,558

1,497

Total non-interest expense

16,983

14,857

14,768

14,781

14,097

Income before income taxes

1,490

2,457

2,665

1,818

3,560

Income tax expenses (benefit)

129

364

423

(166)

Net income

$1,361

$2,093

$2,242

$1,984

$3,497

Earnings per common share:

Basic

$0.32

$0.49

$0.52

$0.46

$0.82

Diluted

$0.31

$0.48

$0.52

$0.46

$0.81

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Consolidated Statements of Income (cont'd)

Nine Months Ended

(Dollars in thousands, except per share data)

9/30/2026

9/30/2025

Interest income:

Loans

$61,777

$59,841

Securities & short-term investments

8,026

8,510

Total interest income

69,803

68,351

Interest expense:

Deposits

21,596

23,821

Borrowings

2,014

2,829

Total interest expense

23,610

26,650

Net interest income

46,193

41,701

Provision for (benefit from) credit losses

443

(121)

Net interest income after provision for credit losses

45,750

41,822

Non-interest income:

Fees and service charges

3,877

3,902

Wealth management operations

2,134

2,074

Gain on tax credit investment

—

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

766

873

Bank owned life insurance

639

857

Gain (loss) on sale of property and equipment

(56)

Other

Total non-interest income

7,470

7,825

Non-interest expense:

Compensation and benefits

25,359

22,015

Occupancy and equipment

5,425

6,050

Data processing

3,491

3,496

Federal deposit insurance premiums

1,111

1,303

Marketing

1,252

557

Professional and outside services

4,004

3,320

Technology

1,618

1,548

Other

4,348

5,066

Total non-interest expense

46,608

43,355

Income before income taxes

6,612

6,292

Income tax expenses

916

189

Net income

$5,696

$6,103

Earnings per common share:

Basic

$1.33

$1.43

Diluted

$1.32

$1.42

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Loans

As of

(Dollars in thousands)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

9/30/2026 vs

6/30/2026

9/30/2026 vs

9/30/2025

Residential real estate

$454,668

$455,882

$445,097

$442,443

$450,007

$(1,214)

(0.3)%

$4,661

1.0%

Home equity

53,180

55,601

53,855

53,497

51,813

(2,421)

(4.4)%

1,367

2.6%

Commercial real estate

595,850

597,364

564,613

555,594

564,558

(1,514)

(0.3)%

31,292

5.5%

Construction and land development

86,646

77,710

76,582

77,208

79,678

8,936

11.5%

6,968

8.7%

Multifamily

173,382

180,148

185,824

183,902

192,698

(6,766)

(3.8)%

(19,316)

(10.0)%

Commercial business

105,513

103,281

94,160

99,304

96,192

2,232

2.2%

9,321

9.7%

Consumer

278

2,036

310

870

348

(1,758)

(86.3)%

(70)

(20.1)%

Manufactured homes

21,318

22,050

22,981

23,708

24,372

(732)

(3.3)%

(3,054)

(12.5)%

Government

7,640

9,818

9,998

12,298

(2,178)

(22.2)%

(4,658)

(37.9)%

Loans receivable

1,498,475

1,503,890

1,453,420

1,448,824

1,471,964

(5,415)

(0.4)%

26,511

1.8%

Net deferred loan origination costs

745

1,006

1,723

1,606

1,719

(261)

(25.9)%

(974)

(56.7)%

Loan clearing funds

(1,103)

(25)

(43)

1,105

(100.2)%

(89)

(97.8)%

Loans receivable, net

$1,499,222

$1,503,793

$1,455,118

$1,450,387

$1,473,774

$(4,571)

(0.3)%

$25,448

1.7%

Deposits

As of

(Dollars in thousands)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

9/30/2026 vs

6/30/2026

9/30/2026 vs

9/30/2025

Checking

$590,974

$584,901

$587,575

$592,214

$579,760

$6,073

1.0%

$11,214

1.9%

Savings

241,412

247,054

253,408

254,055

257,058

(5,642)

(2.3)%

(15,646)

(6.1)%

Money market

432,725

403,140

389,274

381,111

377,155

29,585

7.3%

55,570

14.7%

Certificates of deposit

493,346

497,449

488,814

499,591

536,673

(4,103)

(0.8)%

(43,327)

(8.1)%

Total deposits

$1,758,457

$1,732,544

$1,719,071

$1,726,971

$1,750,646

$25,913

1.5%

$7,811

0.4%

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Asset Quality

As of and for the Quarter Ended

(Dollars in thousands)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

Non-accruing loans

$16,788

$16,549

$12,371

$11,162

$13,892

Securities in non-accrual

1,708

1,909

1,891

1,882

1,616

Foreclosed real estate

Total nonperforming assets

$18,496

$18,458

$14,351

$13,133

$15,508

Allowance for credit losses (ACL):

ACL specific allowances for collateral

dependent loans

$155

$147

$263

$912

ACL general allowances for loan portfolio

17,387

17,547

17,285

17,243

17,065

Total ACL

$17,542

$17,694

$17,285

$17,506

$17,977

Allowance for Credit Losses

As of and for the Quarter Ended

(Dollars in thousands)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

Beginning allowance for credit losses

$17,694

$17,285

$17,506

$17,977

$18,184

Provision for (benefit from) loan losses

378

(224)

(170)

Net (charge-offs) recoveries

(240)

(301)

(268)

Ending allowance for credit losses

$17,542

$17,694

$17,285

$17,506

$17,977

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Bank-Level Regulatory Capital Requirements

September 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

$191,109

11.74%

$73,249

4.50%

$105,805

6.50%

Tier 1 capital to risk-weighted assets

$191,109

11.74%

$97,666

6.00%

$130,221

8.00%

Total capital to risk-weighted assets

$210,604

12.94%

$130,221

8.00%

$162,777

10.00%

Tier 1 leverage ratio

$191,109

9.29%

$82,312

4.00%

$102,891

5.00%

(1) Current quarter ratios are estimated.

Finward Bancorp Exhibit 99.1

Third Quarter 2026 Financial Results (unaudited)

Reconciliation of Non-GAAP Performance Measures

Quarter Ended

(Dollars in thousands, except per share amounts)

9/30/2026

6/30/2026

3/31/2026

12/31/2025

9/30/2025

Tangible Common Ratios

Stockholder's equity (GAAP)

$157,842

$178,287

$172,400

$174,663

$165,495

Less: Goodwill (GAAP)

(22,395)

Less: Other intangibles (GAAP)

(896)

(984)

(1,076)

(1,172)

(1,273)

Tangible common equity (non-GAAP)

$134,551

$154,908

$148,929

$151,096

$141,827

Total assets (GAAP)

$2,014,125

$2,040,706

$2,015,156

$2,021,181

$2,052,724

Less: Goodwill (GAAP)

(22,395)

Less: Other intangibles (GAAP)

(896)

(984)

(1,076)

(1,172)

(1,273)

Tangible assets (non-GAAP)

$1,990,834

$2,017,327

$1,991,685

$1,997,614

$2,029,056

Shares outstanding - end of quarter

4,330,893

4,333,002

4,330,486

4,326,747

4,327,511

Common book value per share (GAAP)

$36.45

$41.15

$39.81

$40.37

$38.24

Tangible common book value per share (non-GAAP)

$31.07

$35.75

$34.39

$34.92

$32.77

Total equity to total assets (GAAP)

7.84%

8.74%

8.56%

8.64%

8.06%

Tangible common equity to tangible assets (non-GAAP)

6.76%

7.68%

7.48%

7.56%

6.99%

Calculation of net interest margin, taxable-equivalent basis

Net interest income (GAAP)

$15,942

$15,180

$15,071

$15,042

$14,443

Tax-equivalent adjustment on securities and loans (1)

575

580

582

629

663

Net interest income (tax-equivalent basis)

$16,517

$15,760

$15,653

$15,671

$15,106

Total average earning assets

$1,882,206

$1,869,793

$1,868,911

$1,889,616

$1,900,066

Net interest margin

3.39%

3.25%

3.23%

3.18%

3.04%

Net interest margin (tax-equivalent basis)

3.51%

3.37%

3.35%

3.32%

3.18%

Efficiency ratio

Total non-interest expense

$16,983

$14,857

$14,768

$14,781

$14,097

Total revenue

18,597

17,578

17,488

16,515

17,356

Efficiency ratio

91.32%

84.52%

84.45%

89.50%

81.22%

(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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v3.26.3

Cover Page

Oct. 27, 2026

Cover [Abstract]

Entity Registrant Name

FINWARD BANCORP

Document Type

8-K

Document Period End Date

Oct. 27, 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

true

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

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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- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Namespace Prefix:

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- Definition

Title of a 12(b) registered security.

+ References

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Data Type:

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Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

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

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Namespace Prefix:

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Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

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- 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

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