VWF Bancorp is the holding company for GreenWay Bank, a small community bank headquartered in Van Wert, Ohio, with a branch in Fort Wayne, Indiana. GreenWay Bank takes in deposits from local retail customers and businesses and lends that money out to individuals and businesses in its market area. Historically, the bank operated as a traditional thrift, focused almost entirely on long-term, fixed-rate residential mortgage loans in Van Wert County, a rural area in northwest Ohio. The bank is actively shifting away from that model toward a broader commercial banking focus, targeting small to mid-sized businesses with an emphasis on commercial real estate and C&I loans. At June 30, 2024, total loans were approximately $130M, with residential real estate still the largest category at roughly 54% of the portfolio, followed by commercial real estate (~15%), construction and land (~14%), and C&I (~12%). GreenWay Bank earns money the traditional community bank way — borrowing at low rates via deposits and FHLB advances, and lending at higher rates, with net interest margin as the primary driver of profitability. The strategic shift toward commercial and C&I loans is aimed at improving yield, as long-term fixed-rate residential mortgages carry lower yields and expose the bank to interest rate risk. To fund rapid balance sheet growth, the bank has leaned heavily on brokered CDs and wholesale borrowings. GreenWay Bank has also been purchasing loan participation interests in commercial construction projects across Indiana to build its commercial portfolio while its organic pipeline develops. The bank recently rebuilt its senior leadership team and opened a Fort Wayne branch as part of its push into a larger, more diversified market.