Finward Bancorp Full Year 2023 Earnings: Misses Expectations

Finward Bancorp (NASDAQ:FNWD) Full Year 2023 Results

Key Financial Results

• Revenue: US$63.6m (down 18% from FY 2022).
• Net income: US$8.38m (down 44% from FY 2022).
• Profit margin: 13% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: US$1.96 (down from US$3.61 in FY 2022).

FNWD Banking Performance Indicators

• Net interest margin (NIM): 2.98% (down from 3.74% in FY 2022).
• Non-performing loans: 0.76% (down from 1.22% in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Finward Bancorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 4.9%.

Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Finward Bancorp has 3 warning signs (and 1 which is a bit concerning) we think you should know about.

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