Finward focuses on compliance with promotion of new senior VP • Northwest Indiana Business Magazine
David Kwait

Finward focuses on compliance with promotion of new senior VP

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David Kwait will become senior vice president, general counsel, corporate secretary and chief risk officer at Finward Bancorp and Peoples Bank on June 30.

Kwait, who has worked for the bank since 2011, is tasked with creating a culture of compliance and risk mitigation. He will lead the risk management and compliance teams. He will report to committees of Finward's board of directors. He also will be a member of the executive team of both organizations. Finward is a financial holding company primarily of Peoples Bank stock.

“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 Finward, in a press release. “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.”

Kwait quickly rose through the ranks, starting off as an assistant vice president. In 2022, he was promoted to chief wealth management officer.

Kwait succeeds Lynette Klemm, who has been the interim chief risk officer since May 5. Klemm will continue as the director of audit for 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,” Kwait said. “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.”

Kwait also is active in the community, including as an advisory member of the Porter County Government Non-Profit Charitable Foundation Inc., and volunteered with organizations such as 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.

Kwait earned a Bachelor of Arts degree in economics from DePaul University and a Juris Doctorate from the University of Notre Dame.

Peoples Bank has 26 locations in Lake and Porter counties and the Chicago area.


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