Finward Bancorp Annual report [Section 13 and 15(d), not S-K Item 405]

Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2025

Balance Sheets


(Dollars in thousands)	December 31, 2025		December 31, 2024
Assets
Cash on deposit with Peoples Bank	$	524	$	3,904
Investment in Peoples Bank	173,490		150,543

Other assets	649		215
Total assets	$	174,663	$	154,662

Liabilities and stockholders' equity
Dividends payable	$	-	$	518
Other liabilities	-		2,730
Total liabilities	-		3,248

Additional paid in capital	70,331		70,034
Accumulated other comprehensive income (loss)	(41,662)		(58,084)
Retained earnings	145,994		139,464
Total stockholders' equity	174,663		151,414
Total liabilities and stockholders' equity	$	174,663	$	154,662

Statements of Income


	Year Ended December 31,
(Dollars in thousands)	2025		2024
Dividends from Peoples Bank	$	1,038	$	-

Non-interest income	4		-
Operating expenses	(67)		(65)
Income before income taxes and equity in undistributed income of Peoples Bank	975		(65)
Income tax expense (benefit)	(22)		(12)
Income before equity in undistributed income of Peoples Bank	997		(53)
Equity in undistributed income of Peoples Bank	7,090		12,183

Net income	$	8,087	$	12,130

Statements of Cash Flows


	Year Ended December 31,
(Dollars in thousands)	2025		2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	8,087	$	12,130
Adjustments to reconcile net income to net cash provided by operating activities:
Distributions in excess of income (equity in undistributed income):
Peoples Bank	(7,090)		(12,183)

Change in intercompany payable	(2,176)		2,176
Change in other assets	(434)		303
Change in other liabilities	(60)		(213)
Total adjustments	(9,760)		(9,917)
Net cash provided by (used in) operating activities	(1,673)		2,213
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities	-		-
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(1,557)		(2,069)
Net surrender value of restricted stock awards	(150)		(86)
Net cash provided by (used in) financing activities	(1,707)		(2,155)
Net change in cash on deposit with Peoples Bank	(3,380)		58
Cash on deposit at Peoples Bank at beginning of period	3,904		3,846
Cash on deposit at Peoples Bank at end of period	$	524	$	3,904

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for:
Income taxes	$	150	$	415
Dividends declared not paid	-		518