DAVID J. KWAIT APPOINTED SENIOR VICE PRESIDENT, GENERAL COUNSEL, CORPORATE SECRETARY, AND CHIEF RISK OFFICER OF FINWARD BANCORP AND PEOPLES BANK
June 23 2023 - 9:00AM
Finward Bancorp (Nasdaq: FNWD) (the “Bancorp” or “Finward”)
and its wholly-owned subsidiary, Peoples Bank (the “Bank” or
“Peoples”), today announced the appointment of David J. Kwait as
the Senior Vice President, General Counsel, Corporate Secretary,
and Chief Risk Officer of the Bancorp and the Bank, with the
appointment to be effective as of June 30, 2023.
Mr. Kwait joined the Bank in 2011, when he was hired as an
Assistant Vice President, Staff Attorney, Legal Counsel, and Wealth
Management Officer. Since then, he has quickly risen through the
ranks, holding titles of Assistant Corporate Secretary of the
Bancorp and Peoples Bank; Vice President, Staff Attorney, Legal
Counsel and Wealth Management Officer; Vice President, Wealth
Strategies and Wealth Management Group Leader; and Senior Vice
President, Wealth Management Group Leader. Most recently, in 2022,
he was promoted to Chief Wealth Management Officer.
In his new role as Chief Risk Officer, General Counsel and
Corporate Secretary, Mr. Kwait will lead the Risk Management and
Compliance teams in fostering and advancing a culture of
compliance, as well as coordinating with the Bank’s operational and
administrative functions to effectively manage risk. Mr. Kwait will
report directly to the Nominating and Corporate Governance
Committee and the Risk Management and Audit Committee of the
Bancorp’s Board of Directors, and as part of the Bancorp’s and
Bank’s executive team, he will have a close working relationship
with all departments of the Bank.
“Over the course of my career, I have had the pleasure of
working with some very talented individuals who have made an
immeasurable impact on the lives of our customers and in our
communities. Their dedication to excellence has truly been an
inspiration,” said Kwait. “In my new role, I am looking forward to
delivering this same high level of excellence by using
evidence-based strategies as I work with my teams to manage risk
and maintain compliance. I am honored for this opportunity and
excited to serve both the Bank and Bancorp moving forward.”
The decision to promote Mr. Kwait aligns with Finward’s
strategic plan to drive excellence through cultivating a compliance
culture and maintaining a focus on adherence to industry
regulations.
“Since day one, Dave has built a track record of leadership and
success, and his promotion is well-deserved,” said Todd Scheub,
President of the Bank and Executive Vice President, Chief Revenue
Officer of the Bancorp. “His industry expertise and relationships
with the community have been, and will continue to be, integral to
carrying out the Bank’s and Bancorp’s mission, vision, and
values.”
With respect to the position of Chief Risk Officer, Mr. Kwait
will succeed Lynette M. Klemm, who has been serving as the Chief
Risk Officer on an interim basis since May 5, 2023. Ms. Klemm will
remain in her current position as the Director of Audit for the
Bank.
An active member of the community, Mr. Kwait is an advisory
member of the Porter County Government Non-Profit Charitable
Foundation, Inc., an organization devoted to overseeing the
proceeds from Porter County Hospital. He also works with several
local charities and foundations to ensure that their endowment
funds are appropriately invested so they can continue to serve our
communities at their most optimal level. He has also volunteered
with the Center for Civic Education, the Boys and Girls Club, the
American Legion, Tomorrow’s Leaders Today, the Anti-Cruelty
Society, and Habitat for Humanity.
Mr. Kwait holds a Bachelor of Arts degree in Economics from
DePaul University and a Juris Doctor from the University of Notre
Dame where he served on the executive committee of the
Environmental Law Society and International Human Rights Society.
He also holds an MBA from the University of Chicago Booth School of
Business.
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 listed on the Nasdaq Capital Market 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 Finward. For these statements, Finward
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 Finward,
including the information in the filings Finward 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: changes in asset quality and credit
risk; the inability to sustain revenue and earnings growth; changes
in interest rates and capital markets; inflation; customer
acceptance of Finward’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, 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 Finward’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 Finward or any person acting
on its behalf are expressly qualified in their entirety by the
cautionary statements above. Except as required by law, Finward
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.
FOR FURTHER INFORMATION
CONTACT BENJAMIN BOCHNOWSKI
(219) 853-7575
Finward Bancorp (NASDAQ:FNWD)
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