Finward Bancorp (FNWD) Financial Statements & Analysis

Finward Bancorp (FNWD) Income Statement

Finward Bancorp reported revenue of $66.25M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 40.8% from $111.83M a year earlier. Net income was $8.09M, down 33.3% year over year, a net margin of 12.2%. Gross margin was 100.0% and operating margin 12.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $25.46M, up 0.4% from the same quarter a year earlier.

Finward Bancorp Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Finward Bancorp income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	66.25	111.83	96.53	77.12	66.60	69.77	62.92	48.55	41.11
Cost of Revenue	34.82	40.23	33.25	4.89	3.59	9.43	11.68	6.40	3.79
Gross Profit	66.25	71.60	63.28	78.66	63.01	60.34	51.24	42.15	37.32
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	21.92	30.33	30.50	17.88	26.19	24.38	20.84	17.53	15.15
Operating Expenses	58.14	58.14	55.23	62.10	46.64	41.64	37.39	31.38	25.49
Operating Income	8.11	13.46	8.05	16.56	16.38	18.71	13.86	10.77	11.83
Other Income/Expense
Interest Income	91.76	89.18	85.78	72.04	50.66	51.62	52.25	39.45	33.36
Interest Expense	35.02	40.73	31.23	4.89	2.08	5.74	9.09	5.09	2.59
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	8.11	13.46	8.05	16.56	16.38	18.71	13.86	10.77	11.83
Income Tax Expense	0.02	1.33	-0.34	1.48	1.41	2.77	1.76	1.43	2.87
Net Income	8.09	12.13	8.38	15.08	14.96	15.93	12.10	9.34	8.96
Net Income - Continuous Operations	8.09	12.13	8.38	15.08	14.96	15.93	12.10	9.34	8.96
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	6.19	20.75	15.21	5.97	20.94	21.91	15.80	13.43	14.44
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	6.19	7.29	7.16	5.97	4.56	3.20	1.95	2.66	2.61
Earnings Per Share
Basic EPS	2.00	3.00	2.00	4.00	4.00	5.00	4.00	3.00	3.00
Diluted EPS	2.00	3.00	2.00	4.00	4.00	5.00	4.00	3.00	3.00
Basic Shares Outstanding	4.27	4.27	4.28	4.18	3.48	3.46	3.43	3.03	2.86
Diluted Shares Outstanding	4.29	4.27	4.28	4.19	3.48	3.46	3.43	3.03	2.86

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Finward Bancorp Financial Statements

What was Finward Bancorp's revenue in fiscal 2025?

Finward Bancorp reported revenue of $66.25M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 40.8% from $111.83M a year earlier.

Is Finward Bancorp profitable?

Yes. Finward Bancorp earned net income of $8.09M in fiscal 2025, a net margin of 12.2%. In fiscal 2024 it earned $12.13M.

What is Finward Bancorp's operating margin?

Finward Bancorp's operating income was $8.11M on revenue of $66.25M in fiscal 2025, an operating margin of 12.2%, compared with 12.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition