Finward Bancorp Completes Merger with Horizon Bancorp
Ticker: FNWD · Form: 8-K · Filed: Jun 26, 2024 · CIK: 919864
| Field | Detail |
|---|---|
| Company | Finward Bancorp (FNWD) |
| Form Type | 8-K |
| Filed Date | Jun 26, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.12 |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger, acquisition, completion
TL;DR
Finward Bancorp is officially GOING AWAY, merged into Horizon Bancorp as of June 21, 2024.
AI Summary
On June 21, 2024, Finward Bancorp filed an 8-K report detailing the completion of its previously announced merger with Horizon Bancorp. The merger was approved by Finward Bancorp's shareholders on May 23, 2024. As a result of the merger, Finward Bancorp will cease to be a separate reporting entity.
Why It Matters
This filing marks the official end of Finward Bancorp as an independent entity, consolidating its operations under Horizon Bancorp.
Risk Assessment
Risk Level: low — The filing is a standard procedural update on a completed merger, with no new financial risks introduced.
Key Players & Entities
- Finward Bancorp (company) — Registrant and merging entity
- Horizon Bancorp (company) — Acquiring entity
- May 23, 2024 (date) — Shareholder approval date for the merger
- June 21, 2024 (date) — Effective date of the merger
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose is to report the completion of the merger between Finward Bancorp and Horizon Bancorp, effective June 21, 2024.
When did Finward Bancorp's shareholders approve the merger?
Finward Bancorp's shareholders approved the merger on May 23, 2024.
What happens to Finward Bancorp after the merger?
Finward Bancorp will cease to be a separate reporting entity as a result of the merger.
Who is the acquiring company in this transaction?
Horizon Bancorp is the acquiring company.
What is the effective date of the merger?
The merger was effective as of June 21, 2024.
Filing Stats: 1,024 words · 4 min read · ~3 pages · Grade level 15.6 · Accepted 2024-06-26 16:08:40
Key Financial Figures
- $0.12 — nk "), declared a quarterly dividend of $0.12 per share on Finward's common stock pay
Filing Documents
- fnwd20240626_8k.htm (8-K) — 35KB
- ex_692712.htm (EX-99.1) — 13KB
- fininfo.jpg (GRAPHIC) — 4KB
- finlogo.jpg (GRAPHIC) — 5KB
- 0001437749-24-021270.txt ( ) — 196KB
- fnwd-20240621.xsd (EX-101.SCH) — 3KB
- fnwd-20240621_def.xml (EX-101.DEF) — 11KB
- fnwd-20240621_lab.xml (EX-101.LAB) — 15KB
- fnwd-20240621_pre.xml (EX-101.PRE) — 11KB
- fnwd20240626_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On June 21, 2024, the Board of Directors for Finward Bancorp (" Finward "), the holding company for Peoples Bank (the " Bank "), declared a quarterly dividend of $0.12 per share on Finward's common stock payable on August 1, 2024 to shareholders of record on July 19, 2024.
Forward Looking Statements
Forward Looking Statements This Current Report on Form 8-K may contain forward-looking statements regarding the financial performance, business prospects, growth, and operating strategies of Finward. For these statements, Finward claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this communication should be considered in conjunction with the other information available about Finward, including the information in the filings Finward makes with the Securities and Exchange Commission (" SEC "). Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. Forward-looking statements are typically identified by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include: the Bank's ability to demonstrate compliance with the terms of the previously disclosed consent order and memorandum of understanding entered into between the Bank and the Federal Deposit Insurance Corporation (" FDIC ") and Indiana Department of Financial Institutions (" DF I"), or to demonstrate compliance to the satisfaction of the FDIC and/or DFI within prescribed time frames the Bank's agreement under the memorandum of understanding to refrain from paying cash dividends without prior regulatory approval changes in asset quality and credit risk the inability to sustain revenue and earning
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are being furnished with this Current Report on Form 8-K. Exhibit No. Description 99.1 Dividend Press Release dated June 26, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Finward Bancorp Date: June 26, 2024 By: /s/ Benjamin Schmitt Printed Name: Benjamin Schmitt Title: Chief Financial Officer and Treasurer