Finward Bancorp to Merge With First Financial in All-Stock Deal at 1.35x Exchange Ratio

Finward Bancorp entered into an Agreement and Plan of Merger with First Financial to combine in an all-stock transaction. Each Finward share will convert into 1.35 shares of First Financial common stock at closing. Peoples Bank will merge into First Financial Bank following the parent merger. The deal is expected to close in the fourth quarter of 2026, pending regulatory approvals and a Finward shareholder vote.

Agreement details:

• Agreement type: Agreement and Plan of Merger (stock-for-stock)
• Counterparty: First Financial
• Signed / Effective: Jul 21 2026 / N/A
• Duration / Termination: N/A
• Reason: Expand Midwest footprint and combine operations for scale and efficiencies

Original SEC Filing:

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