Finward Bancorp (FNWD)

Finward Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	76.99	74.76	62.13	41.57	44.87	44.46
Interest Income on Investments	11.85	11.02	9.9	9.08	6.75	7.8
Total Interest Income	88.84	85.78	72.04	50.66	51.62	52.25
Interest Paid on Deposits	34.53	25.44	3.6	2	5.32	8.36
Interest Paid on Borrowings	5.75	5.79	1.28	0.08	0.42	0.73
Total Interest Expense	40.28	31.23	4.89	2.08	5.74	9.09
Net Interest Income	48.56	54.56	67.15	48.58	45.88	43.16
Net Interest Income Growth (YoY)	-17.21%	-18.76%	38.24%	5.87%	6.31%	25.61%
Trust Income	2.8	2.48	2.11	2.38	2.14	1.92
Gain (Loss) on Sale of Assets	0.28	0.28	-1.54	-	-	0.13
Gain (Loss) on Sale of Investments	-0.53	-0.05	0.66	1.99	2.35	0.62
Other Non-Interest Income	6.35	7.24	7.35	6.24	6	5.65
Total Non-Interest Income	21.93	11.02	9.97	15.95	18.15	10.47
Non-Interest Income Growth (YoY)	129.15%	10.51%	-37.46%	-12.13%	73.42%	15.01%
Revenues Before Loan Losses	70.48	65.58	77.12	64.52	64.03	53.62
Provision for Loan Losses	0.86	2.03	-	1.51	3.69	2.58
Revenue	69.63	63.55	77.12	63.01	60.34	51.04
Revenue Growth (YoY)	3.96%	-17.60%	22.39%	4.43%	18.23%	21.09%
Salaries and Employee Benefits	26.88	26.94	28.12	23.67	22.44	19.32
Occupancy Expenses	6.65	6.56	6.79	5.54	4.93	4.55
Federal Deposit Insurance	1.83	2	1.23	0.86	0.79	0.3
Selling, General & Administrative	10.04	7.9	8.55	6.51	4.05	5
Other Non-Interest Expense	12.28	12.12	13.04	10.06	9.42	8.23
Total Non-Interest Expense	57.69	55.51	57.71	46.64	41.64	37.39
EBT Excluding Unusual Items	11.94	8.05	19.41	16.38	18.71	13.65
Pretax Income	11.94	8.05	16.56	16.38	18.71	13.86
Income Tax Expense	0.4	-0.34	1.48	1.41	2.77	1.76
Net Income	11.54	8.38	15.08	14.96	15.93	12.1
Net Income to Common	11.54	8.38	15.08	14.96	15.93	12.1
Net Income Growth	6.59%	-44.43%	0.78%	-6.08%	31.70%	29.56%
Basic Shares Outstanding	4	4	4	3	3	3
Diluted Shares Outstanding	4	4	4	3	3	3
Shares Change (YoY)	-0.30%	2.12%	20.60%	0.44%	1.08%	16.13%
EPS (Basic)	2.71	1.96	3.61	4.30	4.60	3.53
EPS (Diluted)	2.71	1.96	3.60	4.30	4.60	3.53
EPS Growth	7.22%	-45.56%	-16.28%	-6.52%	30.31%	11.50%
Dividend Per Share	0.480	1.050	1.240	1.240	1.240	1.230
Dividend Growth	-61.29%	-15.32%	0%	0%	0.81%	3.36%
Effective Tax Rate	3.35%	-	8.93%	8.63%	14.83%	12.69%

Source: S&P Capital IQ. Banks template. Financial Sources.