Finward Bancorp (NASDAQ: FNWD) is an Indiana-based bank holding company that operates Peoples Bank, a community bank offering deposit accounts, real estate loans, commercial business loans, and wealth management services. The company earns money primarily through net interest income, the spread between interest earned on loans and securities and interest paid on deposits and borrowed funds. As of December 31, 2025, total assets were approximately $2.05 billion, loans receivable were $1.45 billion, and interest-bearing deposits were $1.47 billion. Net interest income was $56.7 million for FY2025, up from $48.4 million in FY2024, with a net interest margin of 4.85% on average earning assets of $1.89 billion. The loan portfolio is concentrated in real estate, with commercial real estate ($555.6 million), residential real estate ($442.4 million), and multifamily ($183.9 million) as the largest categories as of December 31, 2025. Non-interest income includes fees and service charges, wealth management operations, and gains on loan sales. The bank operates banking centers across northwest Indiana, including Crown Point, East Chicago, Merrillville, Schererville, and Orland Park locations.

Revenue model

Net interest income from the spread between loan and securities yields and deposit or borrowing costs, supplemented by non-interest income from fees and service charges, wealth management operations, gains on loan sales, and bank-owned life insurance.

Products and services

Deposit accounts (interest-bearing and non-interest-bearing), residential real estate loans, home equity loans, commercial real estate loans, construction and land development loans, multifamily loans, commercial business loans, consumer loans, manufactured home loans, government loans, and wealth management services.

Customers and end markets

Retail depositors, residential real estate borrowers, commercial real estate borrowers, commercial businesses, and wealth management clients in northwest Indiana.

Value-chain role

Community bank and holding company that originates and holds loans, accepts deposits, and provides wealth management services directly to retail and commercial customers in its local market.

Geographic exposure

Northwest Indiana, with banking centers in Crown Point, East Chicago, Merrillville, Schererville, and Orland Park (as referenced in FY2024-2025 filings).

Competitors

Digital asset service providers, Fintech firms

Source: SEC 10-K, filed 2026-03-25

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