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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\nxQuarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.\n\nFor the quarterly period ended March 31, 2026 or\n\noTransition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.\n\nFor the transition period from ______ to ______\n\nCommission File Number: 001-40999\n\nFinward Bancorp\n\n(Exact name of registrant as specified in its charter)\n\nIndiana\n\n35-1927981\n\n(State or other jurisdiction of incorporation\nor organization)(I.R.S. Employer Identification Number)\n\n9204 Columbia Avenue\n\nMunster, Indiana\n\n46321\n\n(Address of principal executive offices)(ZIP code)\n\nRegistrant's telephone number, including area code: (219) 836‑4400\n\nN/A\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon stock, no par value\n\nFNWD\n\nThe NASDAQ Stock Market, LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:\n\nLarge accelerated filer o Accelerated filer o Non-accelerated filer x\n\nSmaller Reporting Company x Emerging growth company o\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x\n\nThere were 4,329,971 shares of the registrant’s Common Stock, without par value, outstanding at May 5, 2026.\n\n1\n\nFinward Bancorp\n\nIndex\n\nPage\nNumber\n\nPART I. Financial Information\n\n[Item 1. Unaudited Financial Statements and Notes](#i6ebb3e28ad624ace8c1a73193ca614b5_13)\n\n[6](#i6ebb3e28ad624ace8c1a73193ca614b5_13)\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i6ebb3e28ad624ace8c1a73193ca614b5_76)\n\n[40](#i6ebb3e28ad624ace8c1a73193ca614b5_76)\n\n[Item 3. Quantitative and Qualitative Disclosures about Market Risk](#i6ebb3e28ad624ace8c1a73193ca614b5_139)\n\n[56](#i6ebb3e28ad624ace8c1a73193ca614b5_139)\n\n[Item 4. Controls and Procedures](#i6ebb3e28ad624ace8c1a73193ca614b5_142)\n\n[56](#i6ebb3e28ad624ace8c1a73193ca614b5_142)\n\nPART II. Other Information\n\n[Item 1. Legal Proceedings](#i6ebb3e28ad624ace8c1a73193ca614b5_148)\n\n[56](#i6ebb3e28ad624ace8c1a73193ca614b5_148)\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#i6ebb3e28ad624ace8c1a73193ca614b5_154)\n\n[56](#i6ebb3e28ad624ace8c1a73193ca614b5_154)\n\n[Item 5. Other Information](#i6ebb3e28ad624ace8c1a73193ca614b5_163)\n\n[57](#i6ebb3e28ad624ace8c1a73193ca614b5_163)\n\n[Item 6. Exhibits](#i6ebb3e28ad624ace8c1a73193ca614b5_166)\n\n[58](#i6ebb3e28ad624ace8c1a73193ca614b5_166)\n\n31.1 Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer\n\n31.2 Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer\n\n32.1 Section 1350 Certifications\n\n101 XBRL Interactive Data File\n\n[SIGNATURES](#i6ebb3e28ad624ace8c1a73193ca614b5_169)\n\n[59](#i6ebb3e28ad624ace8c1a73193ca614b5_169)\n\n2\n\nGlossary of Defined Terms\n\nACL - Allowance for credit losses\n\nAFS - Available-for-sale\n\nAgencies - collectively, Fannie Mae, Freddie Mac, and Ginnie Mae\n\nAI - Artificial intelligence and/or machine learning\n\nALCO - Asset Liability Committee\n\nAOCI - Accumulated other comprehensive income (loss)\n\nARMs - Adjustable rate mortgage loans\n\nASC - Accounting Standards Codification\n\nASU - Accounting Standards Update\n\nATM - Automated teller machine\n\nBank - Peoples Bank\n\nBHCA - Bank Holding Company Act of 1956, amended\n\nBoard - The Company's Board of Directors\n\nBSA - Bank Secrecy Act\n\nBuyer - MountainSeed Real Estate Services, LLC\n\nCARES Act - Coronavirus Aid, Relief and Economic Security Act of 2021\n\nCBCA - Change in Bank Control Act\n\nCBCM - Certified Banking Cybersecurity Manager\n\nCBLR - Community Bank Leverage Ratio\n\nCBSM - Certified Banking Security Manager\n\nCBSTP - Certified Banking Security Technology Professional\n\nCECL - ASU 2016-13, Measurement of Credit Losses on Financial Instruments (\"Current Expected Credit Losses\")\n\nCFPB - Consumer Financial Protection Bureau\n\nCISM - Certified Information Security Manager\n\nCode - Internal Revenue Code of 1986\n\nCODM - Chief Operating Decision Maker\n\nCompany - Finward Bancorp\n\nCOSO - Committee of Sponsoring Organizations of the Treadway Commission\n\nCRA - Community Reinvestment Act\n\nCRE - Commercial real estate\n\nCRE NOO - Commercial real estate owner-occupied\n\nCRE OO - Commercial real estate non-owner-occupied\n\nCRI - Cyber Risk Institute\n\nDEI - Diversity, equity and inclusion\n\nDFI - Indiana Department of Financial Institutions\n\nDIF - Deposit Insurance Fund\n\nDodd-Frank Act - Dodd Frank Wall Street Reform and Consumer Protection Act of 2010\n\nDOJ - Department of Justice\n\n3\n\nEconomic Growth Act - Economic Growth, Regulatory Relief and Consumer Protection Act of 2018\n\nEOLC - Executive officer's loan committee\n\nESG - Environmental, social, and governance\n\nERM - Enterprise Risk Management Committee\n\nEVE at Risk - Economic value of equity at risk modeling sensitivity analysis\n\nExchange Act - Securities Exchange Act of 1934, amended\n\nFASB - Financial Accounting Standards Board\n\nFDIC - Federal Deposit Insurance Corporation\n\nFDICIA - FDIC Improvement Act of 1991\n\nFHA - Federal Housing Administration\n\nFHLB - Federal Home Loan Bank\n\nFHLBI - Federal Home Loan Bank of Indianapolis\n\nFinal Rule - Final regulation implementing Section 201\n\nFinTech - Financial technology\n\nFIT - Indiana's Financial Institutions Tax\n\nFRB - Federal Reserve System\n\nGAAP - Generally Accepted Accounting Principles in the US\n\nGramm-Leach - Gramm-Leach-Bliley Act\n\nHTM - Held-to-maturity\n\nIT - The Company's Information Technology\n\nLease Agreements - Triple net lease agreements\n\nLGD - Loss given default\n\nMOU - Memorandum of understanding\n\nNOL - Net operating loss\n\nOCC - Office of the Comptroller of the Currency\n\nOBBBA - One Big Beautiful Bill Act\n\nOLC - Loan officers' loan committee\n\nOO - Owner-occupied\n\nOrder - Consent Order\n\nPCD - Purchased credit deteriorated\n\nPD - Probability of default\n\nPlan - Finward Bancorp 2025 Omnibus Equity Incentive Plan\n\nProperties - Five properties owned and operated as branch locations\n\nREIT - Real estate investment trust\n\nROA - Return on average assets\n\nROE - Return on average shareholders' equity\n\nRWA - Risk-weighted assets\n\nSEC - Securities and Exchange Commission\n\nSOLC - Senior officers' loan committee\n\n4\n\nTLM - Troubled loan modification\n\nUDC Plan - Unqualified Deferred Compensation Plan\n\nvCISO - virtual Chief Information Security Officer\n\n5\n\nPART I. Financial Information"}