Munster-based NorthWest Indiana Bancorp, the parent of People’s Bank, says it has applied to list its common stock on the NASDAQ Capital Market, a move it announced in January. The banking company says it submitted its listing application with Nasdaq under its current corporate name, despite previously-announced plans to change its corporate name to Finward Bancorp.
The bank’s common stock, under the symbol “NWIN,” is currently quoted on the OTC Pink Marketplace, which is maintained by OTC Markets Group Inc. The company says filing the application is an important step as it works to move from the OTC to the Nasdaq.
“Our application is the result of extensive research, and we continue to believe that the Nasdaq is the best exchange for our company to be listed,” said Benjamin Bochnowski, president and chief executive officer of Northwest Indiana Bancorp. “This listing will support our strategy, help us attract capital, and unlock the value we have created for our shareholders over the years.”
Once the name change receives approval from banking regulators, the bank says it will change its ticker symbol to “FNWD.”
The bank expects Nasdaq will decide on the application by the end of May.