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Posted 03 July, 2023

Finward Bancorp appointed new CEO

CEO Change detected for ticker Nasdaq:FNWD in a 8-K filed on 03 July, 2023.


  As previously reported, David A. Bochnowski has retired as Executive Chairman and as a member of the Board of Directors (the "Board") of Finward Bancorp (the "Bancorp") effective as of June 30, 2023. Mr. Bochnowski served as the Executive Chairman of the Bancorp since 2016, and prior to that served as the Chief Executive Officer of the Bancorp and Chairman of the Board for 35 years.  

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Overview of Finward Bancorp
Financial Services • Banking
Finward Bancorp is a bank holding company, which engages in the provision of financial services. It offers checking and savings accounts, loans, eBanking, cash management, investments, retirement plans, and trust funds. The company was founded on January 31, 1994 and is headquartered in Munster, IN.
Market Cap
$98.7M
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Finward Bancorp by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

As previously reported, David A. Bochnowski has retired as Executive Chairman and as a member of the Board of Directors (the "Board") of Finward Bancorp (the "Bancorp") effective as of June 30, 2023. Mr. Bochnowski served as the Executive Chairman of the Bancorp since 2016, and prior to that served as the Chief Executive Officer of the Bancorp and Chairman of the Board for 35 years. Mr. Bochnowski led the Bancorp and its wholly-owned Indiana commercial bank subsidiary, Peoples Bank, through numerous business cycles over his distinguished career and has been a leader in the community banking industry for over 43 years.

 

Also as previously reported, effective as of June 30, 2023, Benjamin J. Bochnowski, currently the Bancorp's President and Chief Executive Officer and a member of the Board, has succeeded David Bochnowski as Chairman of the Board. Benjamin Bochnowski joined the Bancorp in 2010, became Executive Vice President and Chief Operating Officer of the Bancorp in 2013, was promoted to President and Chief Operating Officer in 2015, and became the Chief Executive Officer in 2016. He is a Director and First Vice Chairman of the Indiana Bankers Association and is a member of the Indiana Department of Financial Institutions Board. Mr. Bochnowski is currently a party to an employment agreement with the Bancorp, a copy of which is attached as Exhibit 10.1 to the Bancorp's Current Report on Form 8-K filed on August 4, 2017, as well as first and second amendments to such employment agreement, copies of which are attached as Exhibits 10.2 and 10.3, respectively, to the Bancorp's Current Reports on Form 8-K filed on July 30, 2018 and March 17, 2021, respectively. Mr. Bochnowski did not enter into any other plan, contract, or arrangement to receive any additional compensation for his service as Chairman of the Board other than what he already is entitled to under his employment agreement and the Bancorp's other executive compensation plans.