Peoples Bank names new chief risk officer
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Peoples Bank has named a new executive to its team.
Munster-based Finward Bancorp and its subsidiary, Peoples Bank, have named David Kwait its senior vice president, general counsel, corporate secretary and chief risk officer, effective June 30.
Kwait has been with Peoples Bank since 2011. He was hired as assistant vice president, staff legal attorney, legal counsel and wealth management officer and has been promoted through the ranks. He was most recently promoted to chief wealth management officer in 2022.
“Since day one, Dave has built a track record of leadership and success, and his promotion is well deserved,” Peoples Bank President Todd Scheub said in a news release. “His industry experience 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 will succeed Lynette Klemm, who held the position on an interim basis. Klemm will remain in her current role as director of audit for the bank.
As chief risk officer, Kwait will manage risk management and compliance teams and will coordinate administrative functions for the bank. He will report directly to two committees of the Bancorp Board of Directors, the Nomination and Corporate Governance Committee and the Risk Management and Audit Committee.
“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,” Kwait said in the release. “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 is an advisory member of the Porter County Government Non-Profit Charitable Foundation, which oversees proceeds for a local hospital. He has also volunteered with the American Legion, the Anti-Cruelty Society, Boys and Girls Clubs, the Center for Civic Education, Habitat for Humanity and Tomorrow’s Leaders Today.
Kwait earned a Bachelor of Arts degree in economics from DePaul University, a Juris Doctor from the University of Notre Dame and a Master of Business Administration from University of Chicago’s Booth School of Business.