Overview

* Finward Bancorp ( FNWD ) Q2 net income rises to $2.2 mln from $455,000 in Q1

* Net interest margin improves to 3.11% on a tax-equivalent basis

* Non-performing loans increase, but asset quality remains stable

Outlook

* Company sees opportunities in improving operating expenses and non-interest income

Result Drivers

* NET INTEREST MARGIN - Increased to 3.11% due to higher loan yields from repricing and improved funding costs and mix

* ASSET QUALITY - Remained stable with strong net recoveries supporting profitability

* OPERATING EXPENSES - Rose due to higher data processing and marketing expenses, with potential for future efficiencies

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.5

Q2 Net $2.20

Income mln

Q2 3.1%

Adjusted

Net

Interest

Margin

Q2 Net 3.0%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Finward Bancorp ( FNWD ) is $33.00, about 15.8% above its July 28 closing price of $27.79

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 23 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)