Finward Bancorp (FNWD) Income Statement
FNWD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFNWD revenue and net income
Where FNWD's revenue goes
2025Each bar shows an amount and its share of revenue. FNWD kept 8.0% of revenue as net income.
FNWD profit margins
FNWD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −9.6% | +6.6% | +7.7% | +10.8% |
| Gross profit | −7.5% | −5.6% | +1.9% | +7.1% |
| Operating income | −39.7% | −21.2% | −15.4% | −1.7% |
| Net income | −33.3% | −18.8% | −12.7% | +0.3% |
| EPS (diluted) | +833.3% | −18.2% | −14.0% | −2.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FNWD quarterly EPS vs estimates
Finward Bancorp beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 27, 2026 (estimate $0.72).
FNWD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101.1M | $111.8M | $96.5M | $83.5M | $66.6M | $69.8M | $62.9M | $48.5M | $41.1M | $40.0M |
| Cost of revenue | $34.8M | $40.2M | $33.3M | $4.9M | $3.6M | $9.4M | $11.7M | $6.4M | $3.8M | $3.6M |
| Gross profit | $66.2M | $71.6M | $63.3M | $78.7M | $63.0M | $60.3M | $51.2M | $42.1M | $37.3M | $36.4M |
| Sales, general & admin | $32.1M | $30.3M | $30.5M | $32.1M | $26.2M | $24.4M | $20.8M | $17.5M | $15.2M | $14.9M |
| Total operating expenses | $58.1M | $58.1M | $55.2M | $62.1M | $46.6M | $41.6M | $37.4M | $31.4M | $25.5M | $24.7M |
| Operating income | $8.1M | $13.5M | $8.0M | $16.6M | $16.4M | $18.7M | $13.9M | $10.8M | $11.8M | $11.7M |
| Interest income | $91.8M | $89.2M | $83.4M | $72.0M | $50.7M | $51.6M | $52.2M | $39.5M | $33.4M | — |
| Interest expense | $35.0M | $40.7M | $31.2M | $4.9M | $2.1M | $5.7M | $9.1M | $5.1M | $2.6M | $2.3M |
| Income before taxes | $8.1M | $13.5M | $8.0M | $16.6M | $16.4M | $18.7M | $13.9M | $10.8M | $11.8M | $11.7M |
| Income taxes | $23,000 | $1.3M | −$335,000 | $1.5M | $1.4M | $2.8M | $1.8M | $1.4M | $2.9M | $2.5M |
| Net income | $8.1M | $12.1M | $8.4M | $15.1M | $15.0M | $15.9M | $12.1M | $9.3M | $9.0M | $9.1M |
| EBITDA | $14.3M | $20.7M | $15.2M | $22.5M | $20.9M | $21.9M | $15.8M | $13.4M | $14.4M | $14.2M |
| EPS (diluted) | $2.24 | $0.24 | $1.95 | $4.10 | $4.50 | $4.75 | $3.78 | $2.93 | $3.21 | $3.21 |
| Gross margin | 65.6% | 64.0% | 65.6% | 94.2% | 94.6% | 86.5% | 81.4% | 86.8% | 90.8% | 91.0% |
| Operating margin | 8.0% | 12.0% | 8.3% | 19.8% | 24.6% | 26.8% | 22.0% | 22.2% | 28.8% | 29.2% |
| Net margin | 8.0% | 10.8% | 8.7% | 18.1% | 22.5% | 22.8% | 19.2% | 19.2% | 21.8% | 22.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.5M | $25.1M | $24.9M | $26.3M | $25.4M | $24.6M | $26.3M | $25.3M | $24.7M | $35.5M | $25.0M | $24.2M |
| Cost of revenue | $8.1M | $7.7M | $8.3M | $8.6M | $8.5M | $9.5M | $9.4M | $10.5M | $10.1M | $10.2M | $10.3M | $8.9M |
| Gross profit | $17.3M | $17.4M | $16.6M | $17.7M | $16.9M | $15.1M | $16.9M | $14.9M | $14.6M | $25.3M | $14.7M | $15.3M |
| Sales, general & admin | $9.8M | $8.6M | $8.2M | $8.0M | $8.0M | $7.9M | $7.3M | $7.6M | $7.6M | $7.8M | $7.0M | $7.4M |
| Total operating expenses | $14.9M | $14.8M | $14.8M | $14.1M | $14.8M | $14.5M | $14.2M | $14.5M | $14.4M | $15.0M | $13.5M | $13.5M |
| Operating income | $2.5M | $2.7M | $1.8M | $3.6M | $2.1M | $616,000 | $2.7M | $399,000 | $134,000 | $10.3M | $1.2M | $1.8M |
| Interest income | $23.1M | $22.7M | $23.4M | $23.3M | $22.7M | $22.3M | $22.6M | $22.5M | $22.1M | $22.0M | $22.3M | $21.8M |
| Interest expense | $7.9M | $7.7M | $8.4M | $8.9M | $8.7M | $9.0M | $10.0M | $10.5M | $10.1M | $10.2M | $9.5M | $8.6M |
| Income before taxes | $2.5M | $2.7M | $1.8M | $3.6M | $2.1M | $616,000 | $2.7M | $399,000 | $134,000 | $10.3M | $1.2M | $1.8M |
| Income taxes | $364,000 | $423,000 | −$166,000 | $63,000 | −$35,000 | $161,000 | $569,000 | −$207,000 | −$9,000 | $972,000 | −$356,000 | −$398,000 |
| Net income | $2.1M | $2.2M | $2.0M | $3.5M | $2.2M | $455,000 | $2.1M | $606,000 | $143,000 | $9.3M | $1.5M | $2.2M |
| EBITDA | $2.5M | $4.0M | $3.3M | $5.0M | $3.7M | $2.2M | $4.4M | $2.5M | $1.9M | $12.0M | $3.2M | $3.6M |
| EPS (diluted) | $0.48 | $0.52 | $0.83 | $0.81 | $0.50 | $0.10 | $0.30 | $0.14 | $0.03 | −$0.23 | $0.35 | $0.51 |
| Gross margin | 68.0% | 69.3% | 66.7% | 67.3% | 66.7% | 61.4% | 64.3% | 58.7% | 58.9% | 71.2% | 58.7% | 63.2% |
| Operating margin | 9.6% | 10.6% | 7.3% | 13.6% | 8.3% | 2.5% | 10.1% | 1.6% | 0.5% | 28.9% | 4.6% | 7.4% |
| Net margin | 8.2% | 8.9% | 8.0% | 13.3% | 8.5% | 1.9% | 8.0% | 2.4% | 0.6% | 26.2% | 6.0% | 9.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FNWD's financial statements (latest annual report filed March 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FNWD financial results
In fiscal year 2025 (ended December 31, 2025), Finward Bancorp reported revenue of $101.1 million, down 9.6% from the year before. It had net income of $8.1 million (down 33.3%), a net profit margin of 8.0%. Diluted earnings per share came to $2.24. Over five years revenue grew at an average rate of 7.7% a year.
See the FNWD stock overview for the latest quote and news, or the FNWD chart for price history and technical indicators.
FNWD income statement FAQ
What is Finward Bancorp's annual revenue?
Finward Bancorp reported total revenue of $101.1 million for fiscal year 2025, which ended on December 31, 2025. That was down 9.6% from $111.8 million the previous year.
Is Finward Bancorp profitable?
Yes. Finward Bancorp reported net income of $8.1 million in fiscal 2025, a net profit margin of 8.0%; its operating margin was 8.0%.
What is Finward Bancorp's gross margin?
Finward Bancorp's gross margin was 65.6% in fiscal 2025: for every $100 of revenue, Finward Bancorp kept $66 after the direct cost of its products and services.
How fast is Finward Bancorp growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $69.8 million to $101.1 million.
What are Finward Bancorp's earnings per share?
Finward Bancorp earned $2.24 per diluted share in fiscal 2025, compared with $0.24 a year earlier.
When will Finward Bancorp report its next earnings?
Finward Bancorp is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Finward Bancorp's fiscal year end?
Finward Bancorp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 25, 2026.