Finward Bancorp (FNWD) Balance Sheet
FNWD balance sheet, 2025
December 31, 2025 · U.S. dollars$2.02B assets = $1.85B liabilities + $174.7M equity
Both columns are drawn to the same scale: what FNWD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FNWD financial health
Descriptive bands, not a rating. Fiscal 2025.
FNWD balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $913.6M2016 | $2.02B2025 | +9.2%/yr | |
| Total liabilities | $829.5M2016 | $1.85B2025 | +9.3%/yr | |
| Shareholders’ equity | $84.1M2016 | $174.7M2025 | +8.5%/yr | |
| Cash & short-term investments | $278.5M2016 | $334.5M2025 | +2.1%/yr | |
| Total debt | $39.8M2016 | $84.7M2025 | +8.7%/yr | |
| Net cash (debt) | $238.7M2016 | $249.8M2025 | +$11.1M | |
| Working capital | −$522.1M2016 | $780.2M2025 | +$1.3B | |
| Book value per share | $29.412016 | $40.692025 | +3.7%/yr | |
| Debt / equity | 0.472016 | 0.482025 | +0.01 | |
| Shares outstanding | 2.9M2016 | 4.3M2025 | +4.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FNWD assets
FNWD liabilities and equity
FNWD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FNWD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $334.5M | $404.1M | $457.4M | $404.5M | $560.1M | $430.6M | $311.1M | $260.2M | $256.8M | $278.5M |
| Cash & equivalents | $18.3M | $69.9M | $85.6M | $33.6M | $34.4M | $21.8M | $33.9M | $18.4M | $12.3M | $44.9M |
| Short-term investments | $316.2M | $334.2M | $371.8M | $370.9M | $526.9M | $410.7M | $277.2M | $241.8M | $244.5M | $233.6M |
| Receivables | $1.46B | $7.7M | $8.0M | $7.4M | $5.4M | $4.7M | $4.0M | $3.6M | $3.3M | $3.1M |
| Inventory | $0 | $0 | $78.0M | $1.83B | −$40.3M | −$27.1M | −$54.5M | $1.6M | −$17.7M | −$50.9M |
| Other current assets | $0 | $0 | $0 | $0 | $40.3M | $29.0M | $54.5M | $0 | $17.7M | $50.9M |
| Total current assets | $1.79B | $411.9M | $465.4M | $411.9M | $565.5M | $437.2M | $315.1M | $263.8M | $260.1M | $281.6M |
| Property, plant & equipment (net) | $45.0M | $47.3M | $38.4M | $40.2M | $31.4M | $30.8M | $29.4M | $24.8M | $19.6M | $19.3M |
| Goodwill & intangible assets | $23.6M | $24.3M | $25.7M | $27.2M | $14.2M | $15.2M | $11.1M | $8.2M | $2.8M | $2.8M |
| Long-term investments | $727,000 | $333.6M | $371.4M | $370.9M | $526.9M | $1.38B | $277.2M | $241.8M | $244.5M | $0 |
| Other non-current assets | $159.3M | $1.24B | $1.21B | $1.22B | $482.7M | $0 | $695.9M | $557.6M | $400.3M | $609.9M |
| Total assets | $2.02B | $2.06B | $2.11B | $2.07B | $1.62B | $1.50B | $1.33B | $1.10B | $927.3M | $913.6M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $1.78B | $1.43B | $22.4M | $1.15B | $929.8M | $793.0M | — |
| Short-term debt | $39.2M | $40.1M | $38.1M | $15.5M | $14.6M | $13.7M | $11.5M | $11.6M | $11.3M | $14.0M |
| Total current liabilities | $1.01B | $1.80B | $1.85B | $1.81B | $1.46B | $1.34B | $1.18B | $951.7M | $814.3M | $803.7M |
| Long-term debt | $45.0M | $65.0M | $80.0M | $120.0M | $0 | $6.1M | $14.0M | $43.0M | $20.9M | $0 |
| Other long-term liabilities | $789.0M | $43.6M | $29.4M | $0 | $1.46B | $0 | $0 | $0 | $0 | $25.8M |
| Total liabilities | $1.85B | $1.91B | $1.96B | $1.93B | $1.46B | $1.34B | $1.19B | $994.7M | $835.2M | $829.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | $156.6M | — | $134.1M | — | $361,000 | $361,000 |
| Retained earnings (deficit) | $146.0M | $139.5M | $129.4M | $131.7M | $121.9M | $111.3M | $100.2M | $92.3M | $86.5M | $81.0M |
| Accumulated other comprehensive income | −$41.7M | −$58.1M | −$51.6M | −$64.3M | $4.3M | $10.4M | $4.3M | −$2.8M | $684,000 | −$1.5M |
| Total shareholders' equity | $174.7M | $151.4M | $147.3M | $136.4M | $156.6M | $151.7M | $134.1M | $101.5M | $92.1M | $84.1M |
| Key figures | ||||||||||
| Total debt | $84.7M | $105.1M | $118.1M | $135.5M | $14.6M | $19.9M | $25.5M | $54.6M | $32.2M | $39.8M |
| Net cash (debt) | $249.8M | $299.0M | $339.3M | $269.0M | $545.5M | $410.7M | $285.6M | $205.5M | $224.7M | $238.7M |
| Working capital | $780.2M | −$1.39B | −$1.39B | −$1.40B | −$898.6M | −$901.3M | −$865.5M | −$687.9M | −$554.2M | −$522.1M |
| Tangible book value | $151.1M | $127.2M | $121.7M | $109.2M | $142.4M | $136.5M | $123.0M | $93.3M | $89.3M | $81.3M |
| Book value per share | $40.69 | $35.45 | $34.41 | $32.52 | $45.04 | $43.82 | $39.15 | $33.50 | $32.14 | $29.41 |
| Shares outstanding | 4.3M | 4.3M | 4.3M | 4.2M | 3.5M | 3.5M | 3.4M | 3.0M | 2.9M | 2.9M |
| Current ratio | 1.77 | 0.23 | 0.25 | 0.23 | 0.39 | 0.33 | 0.27 | 0.28 | 0.32 | 0.35 |
| Quick ratio | 1.77 | 0.23 | 0.25 | 0.23 | 0.39 | 0.33 | 0.27 | 0.28 | 0.32 | 0.35 |
| Debt / equity | 0.48 | 0.69 | 0.80 | 0.99 | 0.09 | 0.13 | 0.19 | 0.54 | 0.35 | 0.47 |
| Equity / assets | 8.6% | 7.3% | 7.0% | 6.6% | 9.7% | 10.1% | 10.1% | 9.3% | 9.9% | 9.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $327.6M | $119.5M | $334.5M | $104.9M | $104.2M | $72.4M | $404.1M | $421.7M | $422.1M | $417.4M | $457.0M | $410.1M |
| Cash & equivalents | $17.4M | $118.8M | $18.3M | $103.6M | $103.0M | $71.4M | $69.9M | $71.1M | $82.5M | $71.2M | $85.6M | $70.8M |
| Short-term investments | $310.2M | $786,000 | $316.2M | $1.3M | $1.2M | $975,000 | $334.2M | $350.6M | $339.6M | $346.2M | $371.4M | $339.3M |
| Receivables | $1.51B | $7.7M | $1.46B | $7.6M | $7.7M | $7.8M | $7.7M | $7.4M | $7.7M | $7.6M | $8.0M | $7.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$1.60B | −$1.59B | $78.0M | −$79.5M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.60B | $1.59B | $0 | $79.5M |
| Total current assets | $1.84B | $127.2M | $1.79B | $112.5M | $111.8M | $80.2M | $411.9M | $429.1M | $429.8M | $425.0M | $465.0M | $417.9M |
| Property, plant & equipment (net) | $43.9M | $44.3M | $45.0M | $45.5M | $46.2M | $46.7M | $47.3M | $47.9M | $48.7M | $47.8M | $38.4M | $38.8M |
| Goodwill & intangible assets | $23.4M | $23.5M | $23.6M | $23.7M | $23.8M | $24.0M | $24.3M | $24.6M | $24.9M | $25.3M | $25.7M | $26.0M |
| Long-term investments | $298,000 | $786,000 | $727,000 | $750,000 | $745,000 | $0 | $333.6M | $350.0M | $339.6M | $346.2M | $371.4M | $339.3M |
| Other non-current assets | $134.1M | $1.82B | $159.3M | $1.87B | $1.88B | $1.89B | $1.24B | $1.22B | $1.23B | $1.23B | $1.21B | $1.27B |
| Total assets | $2.04B | $2.02B | $2.02B | $2.05B | $2.06B | $2.04B | $2.06B | $2.07B | $2.08B | $2.07B | $2.11B | $2.09B |
| Liabilities | ||||||||||||
| Short-term debt | $30.3M | $40.8M | $39.2M | $48.4M | $48.3M | $45.1M | $40.1M | $43.0M | $43.0M | $41.1M | $38.1M | $48.3M |
| Total current liabilities | $30.3M | $1.76B | $1.01B | $1.80B | $1.80B | $1.80B | $1.80B | $1.79B | $1.80B | $1.79B | $1.85B | $1.83B |
| Long-term debt | $65.0M | $50.0M | $45.0M | $0 | $0 | $0 | $65.0M | $0 | $0 | $25.0M | $80.0M | $100.0M |
| Other long-term liabilities | $1.77B | $32.9M | $789.0M | $88.2M | $100.5M | $92.5M | $43.6M | $123.3M | $128.7M | $106.6M | $29.4M | $36.1M |
| Total liabilities | $1.86B | $1.84B | $1.85B | $1.89B | $1.90B | $1.89B | $1.91B | $1.92B | $1.93B | $1.92B | $1.96B | $1.97B |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | $149.3M | $147.7M | $146.0M | $144.5M | $141.6M | $139.9M | $139.5M | $137.9M | $137.8M | $138.2M | $129.4M | $128.4M |
| Accumulated other comprehensive income | −$41.5M | −$45.7M | −$41.7M | −$49.3M | −$57.6M | −$58.2M | −$58.1M | −$48.2M | −$58.9M | −$56.3M | −$51.6M | −$78.8M |
| Total shareholders' equity | $178.3M | $172.4M | $174.7M | $165.5M | $154.3M | $151.8M | $151.4M | $159.6M | $148.6M | $151.6M | $147.3M | $119.0M |
| Key figures | ||||||||||||
| Total debt | $95.3M | $90.8M | $84.7M | $48.4M | $48.3M | $45.1M | $105.1M | $43.0M | $43.0M | $66.1M | $118.1M | $148.3M |
| Net cash (debt) | $232.3M | $28.7M | $249.8M | $56.5M | $55.8M | $27.3M | $299.0M | $378.6M | $379.1M | $351.3M | $338.8M | $261.8M |
| Working capital | $1.81B | −$1.63B | $780.2M | −$1.69B | −$1.69B | −$1.72B | −$1.39B | −$1.36B | −$1.37B | −$1.36B | −$1.39B | −$1.41B |
| Tangible book value | $154.9M | $148.9M | $151.1M | $141.8M | $130.4M | $127.8M | $127.2M | $135.0M | $123.7M | $126.3M | $121.7M | $93.0M |
| Book value per share | $41.44 | $40.07 | $40.61 | $38.50 | $35.95 | $35.51 | $35.10 | $37.27 | $34.80 | $35.49 | $34.15 | $27.94 |
| Shares outstanding | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M | 4.3M |
| Current ratio | 60.69 | 0.07 | 1.77 | 0.06 | 0.06 | 0.04 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.23 |
| Quick ratio | 60.69 | 0.07 | 1.77 | 0.06 | 0.06 | 0.04 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.23 |
| Debt / equity | 0.53 | 0.53 | 0.48 | 0.29 | 0.31 | 0.30 | 0.69 | 0.27 | 0.29 | 0.44 | 0.80 | 1.25 |
| Equity / assets | 8.7% | 8.6% | 8.6% | 8.1% | 7.5% | 7.4% | 7.3% | 7.7% | 7.2% | 7.3% | 7.0% | 5.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 25, 2026); data from EODHD.
FNWD financial position
At the end of fiscal 2025 (December 31, 2025), Finward Bancorp had total assets of $2.0 billion (down 1.9% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $174.7 million. It held $334.5 million in cash and short-term investments against $84.7 million of debt, a net cash position of $249.8 million. Its current ratio was 1.77. In the latest quarter (ended June 30, 2026) total assets were $2.0 billion and equity $178.3 million.
Related: FNWD income statement, FNWD cash flow statement, FNWD key metrics. See the FNWD stock overview for the latest quote and news.
FNWD balance sheet FAQ
What are Finward Bancorp's total assets?
Finward Bancorp reported total assets of $2.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.1 billion a year earlier.
How much debt does Finward Bancorp have?
Finward Bancorp had $84.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.48.
How much cash does Finward Bancorp have?
Finward Bancorp held $334.5 million in cash and short-term investments at the end of fiscal 2025; with $84.7 million of debt that is net cash of $249.8 million.
What is Finward Bancorp's book value?
Finward Bancorp's shareholders' equity (book value) was $174.7 million at the end of fiscal 2025, or $40.69 per share.
What is Finward Bancorp's current ratio?
Finward Bancorp had current assets of $1.8 billion and current liabilities of $1.0 billion, a current ratio of 1.77 (it can cover its short-term obligations).
How much goodwill does Finward Bancorp have?
Finward Bancorp carried $23.6 million of goodwill and intangible assets, 1.2% of total assets, at the end of fiscal 2025.