Finward Bancorp and its wholly owned subsidiary, Peoples Bank 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. The appointment is to be effective as of June 30.
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, 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. 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 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, Kwait will succeed Lynette M. Klemm, who has been serving as the Chief Risk Officer on an interim basis since May 5. Klemm will remain in her current position as the Director of Audit for the Bank.
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.