Finward Bancorp 8-K

What Happened Finward Bancorp (FNWD) announced on an 8‑K that director Danette Garza notified the board on February 18, 2026 that she will not stand for re‑election and will retire at the conclusion of the Bancorp’s 2026 Annual Meeting of Shareholders. Ms. Garza has served on the Bancorp’s and Peoples Bank’s boards since 2013 and will continue to serve until her term expires at the 2026 meeting. The Board has nominated Martin P. Alwin to stand for election as a Class II director; Mr. Alwin informed the Board on February 21, 2026 that he will resign his Class I directorship at the conclusion of the 2026 Annual Meeting contingent on his election as Class II.

Key Details

• Danette Garza notified the Board on February 18, 2026 and will retire at the Bancorp’s 2026 Annual Meeting; her departure is not due to any disagreement with the company or Peoples Bank.
• Martin P. Alwin was nominated to stand for election as a Class II director and will resign his Class I seat at the conclusion of the 2026 meeting if elected (notice given Feb 21, 2026).
• The Board has resolved to reduce the size of both the Bancorp and Peoples Bank boards from 10 to 9 members effective upon Ms. Garza’s retirement; assuming Alwin’s election, the post‑meeting board will consist of three Class I, three Class II, and three Class III directors.
• The filing includes standard forward‑looking statement language and highlights risks including Peoples Bank’s previously disclosed memorandum of understanding (MOU) with the FDIC and Indiana DFI, which restricts dividend payments without regulatory approval.

Why It Matters This filing signals a planned, orderly board transition and a minor reduction in board size that may affect board composition and committee assignments going forward. For investors, the most material operational note in the 8‑K is the reminder of regulatory constraints tied to Peoples Bank’s MOU with the FDIC and DFI (including limits on paying cash dividends without approval) and the company’s caution that future dividends or share repurchases are uncertain and subject to regulatory, capital, and performance factors.