Bankwell Financial Group Inc
NASDAQ:BWFG
Bankwell Financial Group Inc
Bankwell Financial Group, Inc. is a bank holding company, which engages in the provision of financial services through its banking subsidiary, Bankwell Bank. The company is headquartered in New Canaan, Connecticut and currently employs 124 full-time employees. The company went IPO on 2014-05-15. The firm offers a range of financial services through its banking subsidiary, Bankwell Bank (the Bank). The Bank is a Connecticut state non-member bank. The Bank provides a range of banking services to commercial and consumer customers, concentrated in the New York metropolitan area and throughout Connecticut. The Bank's commercial lending products include owner-occupied commercial real estate loans, commercial real estate investment loans, commercial loans (such as business term loans, equipment financing and lines of credit) to small and mid-sized businesses, and real estate construction and development loans. Its depository products include checking, savings, money market and certificates of deposit. Its branch offices are located in New Canaan, Stamford, Norwalk, Fairfield, Darien and Westport, Connecticut.
Bankwell Financial Group, Inc. is a bank holding company, which engages in the provision of financial services through its banking subsidiary, Bankwell Bank. The company is headquartered in New Canaan, Connecticut and currently employs 124 full-time employees. The company went IPO on 2014-05-15. The firm offers a range of financial services through its banking subsidiary, Bankwell Bank (the Bank). The Bank is a Connecticut state non-member bank. The Bank provides a range of banking services to commercial and consumer customers, concentrated in the New York metropolitan area and throughout Connecticut. The Bank's commercial lending products include owner-occupied commercial real estate loans, commercial real estate investment loans, commercial loans (such as business term loans, equipment financing and lines of credit) to small and mid-sized businesses, and real estate construction and development loans. Its depository products include checking, savings, money market and certificates of deposit. Its branch offices are located in New Canaan, Stamford, Norwalk, Fairfield, Darien and Westport, Connecticut.
Net Income: Bankwell reported fourth quarter net income of $9.1 million, or $1.15 per share, including a $1.5 million one-time income tax adjustment.
Loan Growth: The bank achieved net loan growth of $122 million for the quarter and $134 million for the full year, representing 5% annual growth despite high prepayments.
Deposit Mix: Average low-cost deposit balances grew by $22 million (5% QoQ) and $86 million (21% YoY), improving funding mix and reducing reliance on higher-cost sources.
Margin Expansion: Net interest margin expanded to 3.40%, up 6 basis points sequentially, driven by lower deposit costs.
Asset Quality: Nonperforming assets declined to 49 basis points of total assets, down from 56 basis points last quarter, thanks to asset sales and recoveries.
SBA Division: SBA originations resumed after a government shutdown, boosting noninterest income, which jumped to 11.4% of total revenue from 4.6% a year ago.
2026 Outlook: Management expects continued improvement in credit quality, funding, and recurring revenue streams, and guided net interest income to a range starting at $111 million for the year ahead.
