FFW Corp - FFWC STOCK NEWS

FFW Corporation (OTC PINK: FFWC) reported its financial results for the quarter and year-to-date ending March 31, 2023. The Corporation achieved a net income of $1,216,000 ($1.07 per share) for the quarter, a decrease from $1,369,000 ($1.20 per share) in the same period last year. Net interest income rose to $3,975,000 from $3,745,000 year-over-year, while total noninterest income dropped to $880,000 from $1,120,000. For the nine months, net income increased to $4,355,000 ($3.84 per share) from $4,197,000 ($3.67 per share). The provision for loan losses was $475,000 for the nine months, up from $205,000 in the previous year. A special cash dividend of $1.25 per share has been declared, payable May 31, 2023, to shareholders on record as of May 17.

FFW Corporation (OTC PINK: FFWC) has appointed Steve Forrester to its Board of Directors, enhancing its governance structure. Forrester, currently the President of Intrasect Technologies, will serve on the Audit Committee. His extensive background in technology and information security is expected to be a valuable asset. Chairman Dan Ford highlighted Forrester's contributions in business and technology, while CEO Roger Cromer emphasized his strategic leadership skills. Crossroads Bank, a wholly owned subsidiary of FFW Corporation, operates multiple banking centers across Indiana, offering a range of financial services.

FFW Corporation (OTC PINK: FFWC) announced a quarterly cash dividend of $0.28 per share, payable on March 31, 2023, for shareholders of record on March 17, 2023. As of January 31, 2023, the company reported a book value of $42.92 per share, with assets totaling $531.3 million and shareholders' equity of $48.5 million. The stock closed at $44.90 on February 28, 2023, with 1,129,855 outstanding shares. The Board will continue to assess quarterly dividend payments.