Finward Bancorp (NASDAQ:FNWD) shareholders elected three directors, ratified the company’s auditor and approved an advisory executive compensation proposal during the company’s 2026 annual meeting, held virtually on May 21, according to meeting remarks from company officials.
Joel Gorelick, chairman of the board, presided over the meeting and said it was held pursuant to the company’s bylaws and written notice to shareholders. David Kwait, Finward’s senior vice president, chief risk officer, general counsel and corporate secretary, reported that shareholders of record as of March 20, 2026, were entitled to vote.
Shareholders Approve Board Nominees, Auditor and Say-on-Pay
Shareholders elected Benjamin J. Bochnowski, Robert E. Johnson III and Martin P. Alwin as Class 2 directors, each to serve a three-year term expiring at the 2029 annual meeting of shareholders. Gorelick said no other nominations were received before the deadline established under the company’s bylaws.
Kwait said that, based on the preliminary report from the inspector of elections, each director nominee received a plurality of votes cast in person or by proxy and was elected.
Shareholders also ratified the appointment of Forvis LLP as Finward’s independent registered public accounting firm for the year ending Dec. 31, 2026. Kwait said 3,217,986 votes were cast in favor of the proposal, exceeding the number of votes cast against it.
In addition, shareholders approved, on an advisory basis, the compensation of the company’s named executive officers. Kwait said 2,719,609 votes were cast for the proposal, exceeding votes cast against it. Gorelick said the company expects to report voting results on Form 8-K with the SEC within four business days of the meeting.
CEO Highlights Community Banking Footprint and Recent Priorities
After the formal business portion of the meeting, Bochnowski, president and chief executive officer of Finward Bancorp and Peoples Bank, provided a brief company presentation. He described Finward as a community bank headquartered in Munster, Indiana, serving the greater Chicagoland region with slightly more than $2 billion in assets.
Bochnowski said the company has operated continuously since 1910 and has been listed on the Nasdaq for approximately five years. He said Finward competes in the community banking segment in its primary trade area.
Bochnowski said the company has focused in recent years on capital, net interest margin and credit quality. He said Finward grew capital from under 8% Tier 1 to over 9% and has been working to bring its net interest margin back up. He said the margin bottomed in 2024 and that the company has been pushing it higher through 2026, with “a continued runway” for further expansion. He also cited stable credit quality.
Management Outlines Strategic Progression
Bochnowski summarized Finward’s priorities over the past several years, describing 2024 as a year of stabilization after increases in accumulated other comprehensive income and unrealized losses. He said the company prioritized capital and liquidity, focused on serving core customers, executed a sale-leaseback to build capital, worked on regulatory remediation and refreshed the board.
He described 2025 as a year focused on strengthening the company. Bochnowski said Finward created growth capacity, made internal enhancements around technology and efficiency, continued expanding net interest margin and repositioned its securities portfolio where appropriate. He also said one result of 2025 was the termination of the company’s BSA consent order, which allowed management to focus more on growth.
For 2026, Bochnowski characterized Finward’s focus as growth, including customer acquisition and customer satisfaction. He said the company is using liquidity and capital to support growth, continuing to reposition its balance sheet into higher-yielding assets to support margin expansion, and leveraging process improvements for efficiency.
Board Changes and Recognition
Gorelick recognized director Danette Garza, who he said has served on the board since 2013. He thanked Garza for her “thoughtful leadership and sound stewardship” over 13 years and said her insight and dedication had been valuable to the bank.
Gorelick also said Dr. Anthony Puntillo will remain vice chairman of the board. He said Jennifer Evans has been appointed chairperson for the upcoming year, while Gorelick will remain on the board and complete his term.
Gorelick closed the meeting by thanking the company’s board members and executive management team for their work to move Finward forward, adding that he looks forward to “an exciting 2026.”
About Finward Bancorp (NASDAQ:FNWD)
Finward Bancorp (NASDAQ: FNWD) is the bank holding company for Finward Bank, a community-focused financial institution serving businesses and individuals across Pennsylvania and Delaware. Through a network of full-service branches and a robust digital banking platform, Finward Bank delivers a range of personal and commercial banking solutions designed to meet the needs of local customers.
The company’s core offerings include deposit products such as checking accounts, savings accounts and time deposits, as well as a variety of lending solutions.
