FINWARD BANCORP ANNOUNCES THE APPOINTMENT OF THREE NEW DIRECTORS
Finward Bancorp (Nasdaq: FNWD), the holding company for Peoples Bank, has announced the appointment of three new directors to its Board, effective September 9, 2024. Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke bring extensive experience in financial institutions, including balance sheet management, enterprise risk management, and strategic initiatives.
Mr. Alwin will serve as a Class I director until 2025, Ms. Evans as a Class II director until 2026, and Ms. Burke as a Class III director until 2027. The Board size has been increased from 10 to 11 directors to accommodate these appointments. These changes aim to strengthen Finward's leadership and contribute to achieving its strategic goals.
Finward Bancorp (Nasdaq: FNWD), la holding company di Peoples Bank, ha annunciato la nomina di tre nuovi direttori nel suo Consiglio di Amministrazione, con effetto dal 9 settembre 2024. Martin P. Alwin, Jennifer R. Evans e Carolyn M. Burke portano una vasta esperienza nelle istituzioni finanziarie, comprese la gestione del bilancio, la gestione del rischio d'impresa e le iniziative strategiche.
Il signor Alwin servirà come direttore di Classe I fino al 2025, la signora Evans come direttore di Classe II fino al 2026, e la signora Burke come direttore di Classe III fino al 2027. La dimensione del Consiglio è stata aumentata da 10 a 11 direttori per accogliere queste nomine. Questi cambiamenti mirano a rafforzare la leadership di Finward e contribuire al raggiungimento dei suoi obiettivi strategici.
Finward Bancorp (Nasdaq: FNWD), la compañía matriz de Peoples Bank, ha anunciado la designación de tres nuevos directores para su Junta, con efecto a partir del 9 de septiembre de 2024. Martin P. Alwin, Jennifer R. Evans y Carolyn M. Burke aportan una amplia experiencia en instituciones financieras, que incluye la gestión de balances, la gestión de riesgos empresariales y las iniciativas estratégicas.
El Sr. Alwin servirá como director de Clase I hasta 2025, la Sra. Evans como directora de Clase II hasta 2026, y la Sra. Burke como directora de Clase III hasta 2027. El tamaño de la Junta ha aumentado de 10 a 11 directores para acomodar estas designaciones. Estos cambios buscan fortalecer el liderazgo de Finward y contribuir al logro de sus objetivos estratégicos.
Finward Bancorp (Nasdaq: FNWD), Peoples Bank의 모회사,가 2024년 9월 9일부로 이사회를 위한 세 명의 신규 이사를 임명한다고 발표했습니다. Martin P. Alwin, Jennifer R. Evans, Carolyn M. Burke는 재무 기관에서의 폭넓은 경험을 보유하고 있으며, 여기에는 자산 관리, 기업 위험 관리 및 전략적 이니셔티브가 포함됩니다.
Alwin씨는 2025년까지 클래스 I 이사로, Evans씨는 2026년까지 클래스 II 이사로, Burke씨는 2027년까지 클래스 III 이사로 재직할 것입니다. 이사회의 크기는 이 임명들을 수용하기 위해 10명에서 11명으로 증가했습니다. 이러한 변화는 Finward의 리더십을 강화하고 전략 목표 달성에 기여하는 데 목적이 있습니다.
Finward Bancorp (Nasdaq: FNWD), la société mère de Peoples Bank, a annoncé la nomination de trois nouveaux directeurs à son Conseil d'administration, qui prendra effet le 9 septembre 2024. Martin P. Alwin, Jennifer R. Evans et Carolyn M. Burke apportent une expérience considérable dans les institutions financières, y compris la gestion de bilan, la gestion des risques d'entreprise et les initiatives stratégiques.
M. Alwin siègera en tant que directeur de Classe I jusqu'en 2025, Mme Evans en tant que directrice de Classe II jusqu'en 2026, et Mme Burke en tant que directrice de Classe III jusqu'en 2027. La taille du Conseil est passée de 10 à 11 directeurs pour accueillir ces nominations. Ces changements visent à renforcer le leadership de Finward et à contribuer à l'atteinte de ses objectifs stratégiques.
Finward Bancorp (Nasdaq: FNWD), die Holdinggesellschaft der Peoples Bank, hat die Ernennung von drei neuen Direktoren in seinen Vorstand bekannt gegeben, die am 9. September 2024 wirksam wird. Martin P. Alwin, Jennifer R. Evans und Carolyn M. Burke bringen umfangreiche Erfahrungen in Finanzinstitutionen mit, einschließlich Bilanzmanagement, Enterprise-Risikomanagement und strategischen Initiativen.
Herr Alwin wird bis 2025 als Direktor der Klasse I fungieren, Frau Evans bis 2026 als Direktorin der Klasse II und Frau Burke bis 2027 als Direktorin der Klasse III. Die Größe des Vorstands wurde von 10 auf 11 Direktoren erhöht, um diese Ernennungen zu ermöglichen. Diese Änderungen zielen darauf ab, die Führung von Finward zu stärken und zur Erreichung ihrer strategischen Ziele beizutragen.
- Addition of three experienced directors with expertise in financial institutions
- Strengthened Board composition with diverse skill sets
- Increased Board size from 10 to 11 members, potentially bringing more perspectives
- New directors appointed to key committees (Audit and Risk Management)
- None.
MUNSTER, Ind., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Finward Bancorp (Nasdaq: FNWD) (the “Bancorp” or “Finward”), the holding company for Peoples Bank, an Indiana state-chartered commercial bank (the “Bank”), today announced that the Boards of the Bancorp and the Bank have appointed Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke to serve as directors of the Bancorp and the Bank, effective as of September 9, 2024. Mr. Alwin, Ms. Evans, and Ms. Burke each have a wealth of experience in the financial institutions industry, including in the areas of balance sheet management, enterprise risk management, legal and regulatory compliance, strategic initiatives, and finance. Mr. Alwin and Ms. Burke will serve on the Audit Committee of the Boards of the Bancorp and the Bank, and Ms. Evans will serve on the Risk Management and Compliance Committee.
Joel Gorelick, chairman of the Board, said “After an extensive due diligence and selection process led by the Nominating and Corporate Governance Committee, the Board is pleased to announce the election of three independent directors, Carolyn Burke, Jennifer Evans and Martin Alwin, to the Board of Finward Bancorp and Peoples Bank.”
“We are happy to welcome our three new directors, and look forward to collaborating with them and the entire board to achieve Finward’s strategic goals,” stated Ben Bochnowski, president, and chief executive officer of the Bancorp.
Mr. Alwin will serve as a Class I director for a term expiring at the Bancorp’s 2025 annual meeting of shareholders, Ms. Evans will serve as a Class II director for a term expiring at the Bancorp’s 2026 annual meeting of shareholders, and Ms. Burke will serve as a Class III director for a term expiring at the Bancorp’s 2027 annual meeting of shareholders. Ms. Evans and Ms. Burke were appointed to fill vacant directorships currently existing in Classes II and III resulting from previously disclosed director departures. In connection with Mr. Alwin’s appointment, the Board approved an increase in the size of the Board from 10 to 11 directors, in accordance with the Amended and Restated By-Laws of the Bancorp. The three new directors also will be appointed to the Board of Directors of the Bank in the same classes as disclosed above. The Bank’s Board of Directors similarly increased the size of its Board from 10 to 11 to accommodate Mr. Alwin’s appointment.
Martin P. Alwin is the Senior Analyst at PL Capital Advisors, LLC, an SEC-registered investment advisory firm, and is also a Principal and Managing Member of RISE Commercial Self-Storage Fund Managers, LLC. Prior to joining PL Capital, he was a Vice President of Investment Banking for Piper Jaffray & Co. focused on mergers & acquisitions, capital raising, balance sheet management, and other advisory services across the U.S. financial services industry. Mr. Alwin began his career at Raymond James Financial, Inc. Mr. Alwin earned his MBA from the University of Chicago Booth School of Business and a Bachelor of Arts degree from Lawrence University. Mr. Alwin previously served on the board of Community West Bancshares, headquartered in Goleta, California.
Jennifer R. Evans is the former Executive Vice President, General Counsel and Corporate Secretary of PrivateBancorp, Inc., a Chicago-based bank holding company.. She served on the executive leadership team from 2010 until Private Bancorp’s acquisition by Canadian Imperial Bank of Commerce (CIBC) in 2017. After the acquisition, Ms. Evans remained with CIBC as General Counsel of CIBC’s U.S. Region until her retirement in 2020. During her tenure at CIBC, Ms. Evans served on CIBC’s Global Leadership Team as well as numerous U.S.-based management level committees with oversight of merger integration activities in the U.S. operations, including development of an enhanced enterprise risk management program and oversight of U.S. strategic initiatives at CIBC Bank USA (formerly ThePrivateBank) and the wealth management businesses. Previously Ms. Evans served as Executive Vice President and General Counsel at MAF Bancorp Inc. and Mid America Bank from 2004-2007. She began her career at the law firm Vedder Price where she handled numerous mergers and acquisitions, capital formations and other strategic transactions for banking institutions and other financial services firms. Ms. Evans graduated with an A.B. in economics from Brown University, and received a J.D. from the Boston University School of Law.
Carolyn M. Burke currently serves as the Chief Financial Officer of Exron Capital Inc., an entrepreneurial family-owned private investment firm. Ms. Burke began her career as a Certified Public Accountant with KPMG in Chicago and has spent her entire career working in the financial services industry. After KPMG, she spent three years at Van Kampen. In 1995, Ms. Burke joined Brinson Partners where she served as Secretary, Treasurer and Vice President of the Brinson Funds. Ms. Burke then moved to the investment side of the business where she spent seven years as Managing Director and Chief Administrative Officer of the UBS Global Asset Management Global Fixed Income Team. In 2009, Ms. Burke joined Mesirow Advanced Strategies where she served as Senior Managing Director and Chief Financial Officer of Mesirow’s
About Finward Bancorp
Finward Bancorp is a locally managed and independent financial holding company headquartered in Munster, Indiana, whose activities are primarily limited to holding the stock of Peoples Bank. Peoples Bank provides a wide range of personal, business, electronic and wealth management financial services from its 26 locations in Lake and Porter Counties in Northwest Indiana and Chicagoland. Finward Bancorp’s common stock is quoted on The NASDAQ Stock Market, LLC under the symbol FNWD. The website ibankpeoples.com provides information on Peoples Bank’s products and services, and Finward Bancorp’s investor relations.
Forward Looking Statements
This press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of the Bancorp. For these statements, the Bancorp 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 the Bancorp, including the information in the filings the Bancorp makes with the 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 (“DFI”), 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 earnings growth; changes in interest rates, market liquidity, and capital markets, as well as the magnitude of such changes, which may reduce net interest margins; inflation; further deterioration in the market value of securities held in the Bancorp’s investment securities portfolio, whether as a result of macroeconomic factors or otherwise; customer acceptance of the Bancorp’s products and services; customer borrowing, repayment, investment, and deposit practices; customer disintermediation; the introduction, withdrawal, success, and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions, and divestitures; economic conditions; and the impact, extent, and timing of technological changes, capital management activities, regulatory actions by the Federal Deposit Insurance Corporation and Indiana Department of Financial Institutions, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Bancorp’s reports (such as the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K) filed with the SEC and available at the SEC’s Internet website (www.sec.gov). All subsequent written and oral forward-looking statements concerning matters attributable to the Bancorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Except as required by law, The Bancorp does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statement is made.
In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory and accounting considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends.
FAQ
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