The parent of Peoples Bank is looking to implement what it calls a full rebranding. Benjamin Bochnowski, chief executive officer of NorthWest Indiana Bancorp, says the bank is seeking shareholder approval to change its name to Finward Bancorp.
The bank says the name change reflects its “growth and evolution” in recent years to “capture the dynamic ‘forward movement’ in the business and strategic direction of the Bancorp.” Additionally, the change is meant to reflect the bank’s current geographic footprint, which includes areas of Illinois in addition to northwest Indiana.
“The name is a combination of two concepts: financial services and forward. Together, these two essential ideas combine to create something stronger: Finward,” Bochnowski said in a news release. “Taking geography out of the holding company’s name reflects the company’s growth in the greater Chicagoland market.”
The bank will hold a special meeting of shareholders on March 3 to hopefully receive approval for the name change.
The announcement comes a month after the bank detailed its intentions to seek a listing of its common stock on the Nasdaq Stock Market. The bank’s stock currently trades on the OTC Pink Marketplace and says when the name change occurs, its stock will trade under the ticker symbol FNWD.