Bankwell Financial Group, Inc. operates as the bank holding company for Bankwell Bank that provides a range of banking products and services to commercial and consumer customers in Connecticut. Its deposit products include checking, savings, and money market accounts; and time, demand, and NOW deposits, as well as certificates of deposit. The company also provides commercial lending products, including owner-occupied commercial real estate loans, commercial real estate investment loans, business term loans, equipment financing, and lines of credit to small and medium-sized businesses, as well as real estate construction and development loans; and consumer loans, such as loans secured by savings or certificate accounts, and automobiles, as well as unsecured personal loans and overdraft lines of credit. It operates through branch offices in New Canaan, Stamford, Norwalk, Fairfield, Darien, Westport, Wilton, and Hamden, Connecticut. The company was formerly known as BNC Financial Group, Inc. and changed its name to Bankwell Financial Group, Inc. in September 2013. Bankwell Financial Group, Inc. was founded in 2002 and is headquartered in New Canaan, Connecticut.
IPO Year: 2014
Exchange: NASDAQ
Website: mybankwell.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/10/2023 | $26.00 | Outperform | Hovde Group |
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $6.9 million, or $0.87 per share for the first quarter of 2025, versus $3.0 million, or $0.37 per share, for the fourth quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable May 20, 2025 to shareholders of record on May 9, 2025. Pre-tax, pre-provision net revenue (PPNR) of $9.4 million, or $1.22 per share, increased 10.7% relative to the fourth quarter of 2024 of $8.5 million, or $1.11 per share. Discussion of Outlook; Bankwell Financial Group Chief Executive Officer, Christopher R. Gruseke: "We are happy to announce our first quarter financial results which are consiste
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended March 31, 2025, on Wednesday, April 23, 2025, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Thursday, April 24, 2025, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also be arch
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the parent company of Bankwell Bank, has announced the appointment of Brian Merritt as Chief Technology Officer. Mr. Merritt brings extensive experience in banking, fintech, and engineering leadership to Bankwell. Prior to joining the company, he served as SVP, Head of Product at Cross River and was previously CEO of Seed, an online business bank. He also held the role of VP of Engineering at Simple, where he helped scale the company from its early stages to over 100,000 customers. Christopher R. Gruseke, President and CEO of Bankwell, stated, "We are pleased to welcome Brian to the team. His deep expertise in banking technology, product devel
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $2.5 million, or $0.32 per share for the fourth quarter of 2024, versus $1.9 million, or $0.24 per share, for the third quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 21, 2025 to shareholders of record on February 11, 2025. Pre-tax, pre-provision net revenue (PPNR) of $7.9 million, or $1.02 per share, fell 12% relative to the third quarter of 2024 of $9.0 million, or $1.17 per share. Discussion of Outlook; Bankwell Financial Group Chief Executive Officer, Christopher R. Gruseke: "Results for the fourth quarter of 2024 include $3.0 million in charge-off
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended December 31, 2024, on Wednesday, January 22, 2025, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Thursday, January 23, 2025, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the parent company of Bankwell Bank, has announced board approval of a measure that will allow individual shareholder and director, Lawrence B. Seidman, to increase his position in the Company from a maximum of 9.9% to 14.99% of common stock. Mr. Seidman is the Manager of Seidman and Associates, LLC based in Parsippany, NJ. He has served on Bankwell's board of directors since 2020. Christopher R. Gruseke, President and CEO of Bankwell, commented, "Larry has been a steadfast supporter of the Company's strategic direction and growth initiatives. We look forward to our continued relationship." Mr. Seidman added, "My decision to increase my po
Bankwell Financial Group, Inc. (NASDAQ:BWFG), a leading commercial bank with a growing digital focus, reported GAAP net income of $1.9 million, or $0.24 per share for the third quarter of 2024, versus $1.1 million, or $0.14 per share, for the second quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable November 22, 2024 to shareholders of record on November 11, 2024. Third quarter of 2024 results include an $8.2 million previously disclosed charge-off taken against a $13.7 million office loan participation as a $0.79 drag to earnings per share. Pre-tax, pre-provision net revenue (PPNR) of $9.0 million, or $1.17 per share, fell 7% relative to th
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2024, on Monday, October 28, 2024, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Tuesday, October 29, 2024, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also be
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the parent company of Bankwell Bank, has announced the appointment of Michael Johnston as Senior Vice President in the newly established role of Head of SBA Lending. Mr. Johnston most recently served as the National Sales Director for Ready Capital, the nation's fourth largest SBA lender. Additionally, Mr. Johnston has held various lending and underwriting positions at Zions Bank, Bank of the West, CapitalSource, and Washington Mutual. Christopher R. Gruseke, President and CEO of Bankwell, stated, "We are excited to welcome Michael to the team. We have created the new role of Head of SBA Lending to further our evolution as a relationship-drive
Combining industry leaders in ERISA and cannabis compliance, the country's first fully vetted and transparent PEP for legal cannabis companies is now available to join The North American Companies Council, Inc. (The NACC™) announced today that it has been offering a 401(k) Pooled Employer Plan (PEP) to its members. This groundbreaking initiative is designed to exclusively serve cannabis-related entities across the country. The NACC PEP is the country's first fully vetted and transparent 401(k) solution for legal cannabis companies. To date, it is the only fully vetted retirement savings option for this industry. Jeff Mayhall, Board Member, The NACC™, said, "Retirement savings is an impor
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4 - Bankwell Financial Group, Inc. (0001505732) (Issuer)
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4 - Bankwell Financial Group, Inc. (0001505732) (Issuer)
4 - Bankwell Financial Group, Inc. (0001505732) (Issuer)
4/A - Bankwell Financial Group, Inc. (0001505732) (Issuer)
4 - Bankwell Financial Group, Inc. (0001505732) (Issuer)
4 - Bankwell Financial Group, Inc. (0001505732) (Issuer)
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $6.9 million, or $0.87 per share for the first quarter of 2025, versus $3.0 million, or $0.37 per share, for the fourth quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable May 20, 2025 to shareholders of record on May 9, 2025. Pre-tax, pre-provision net revenue (PPNR) of $9.4 million, or $1.22 per share, increased 10.7% relative to the fourth quarter of 2024 of $8.5 million, or $1.11 per share. Discussion of Outlook; Bankwell Financial Group Chief Executive Officer, Christopher R. Gruseke: "We are happy to announce our first quarter financial results which are consiste
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended March 31, 2025, on Wednesday, April 23, 2025, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Thursday, April 24, 2025, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also be arch
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $2.5 million, or $0.32 per share for the fourth quarter of 2024, versus $1.9 million, or $0.24 per share, for the third quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 21, 2025 to shareholders of record on February 11, 2025. Pre-tax, pre-provision net revenue (PPNR) of $7.9 million, or $1.02 per share, fell 12% relative to the third quarter of 2024 of $9.0 million, or $1.17 per share. Discussion of Outlook; Bankwell Financial Group Chief Executive Officer, Christopher R. Gruseke: "Results for the fourth quarter of 2024 include $3.0 million in charge-off
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended December 31, 2024, on Wednesday, January 22, 2025, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Thursday, January 23, 2025, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also
Bankwell Financial Group, Inc. (NASDAQ:BWFG), a leading commercial bank with a growing digital focus, reported GAAP net income of $1.9 million, or $0.24 per share for the third quarter of 2024, versus $1.1 million, or $0.14 per share, for the second quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable November 22, 2024 to shareholders of record on November 11, 2024. Third quarter of 2024 results include an $8.2 million previously disclosed charge-off taken against a $13.7 million office loan participation as a $0.79 drag to earnings per share. Pre-tax, pre-provision net revenue (PPNR) of $9.0 million, or $1.17 per share, fell 7% relative to th
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for Bankwell Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2024, on Monday, October 28, 2024, after market close. Management will also host an audio webcast and conference call at 10:00 a.m. Eastern Time, on Tuesday, October 29, 2024, to review the Company's financial performance and operating results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company's Investor Relations site (https://investor.mybankwell.com/news-market-data/event-calendar/default.aspx) prior to the beginning of the webcast. The webcast will also be
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $1.1 million, or $0.14 per share for the second quarter of 2024, versus $8.0 million, or $1.02 per share, for the same period in 2023. Pre-tax, pre-provision net revenue ("PPNR") was $9.7 million, or $1.25 per share, for the second quarter of 2024, versus $12.8 million, or $1.68 per share for the same period in 2023. The Company's Board of Directors declared a $0.20 per share cash dividend, payable August 23, 2024 to shareholders of record on August 12, 2024. We recommend reading this earnings release in conjunction with the Second Quarter 2024 Investor Presentation, located at http://investor.mybankwell.com/Presen
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $3.8 million, or $0.48 per share for the first quarter of 2024, versus $10.4 million, or $1.33 per share, for the same period in 2023. Pre-tax, pre-provision net revenue ("PPNR") was $8.8 million, or $1.14 per share, for the first quarter of 2024, versus $14.4 million, or $1.89 per share for the same period in 2023. The Company's Board of Directors declared a $0.20 per share cash dividend, payable May 21, 2024 to shareholders of record on May 10, 2024. We recommend reading this earnings release in conjunction with the First Quarter 2024 Investor Presentation, located at http://investor.mybankwell.com/Presentations
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $8.5 million, or $1.09 per share for the fourth quarter of 2023, versus $8.0 million, or $1.04 per share, for the same period in 2022. For the year ended 2023, net income totaled $36.7 million, or $4.67 per share, versus $37.4 million, or $4.79 per share, for the same period in 2022. The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 23, 2024 to shareholders of record on February 13, 2024. We recommend reading this earnings release in conjunction with the Fourth Quarter 2023 Investor Presentation, located at http://investor.mybankwell.com/Presentations and included as an exh
Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $9.8 million, or $1.25 per share for the third quarter of 2023, versus $9.2 million, or $1.18 per share, for the same period in 2022. The Company's Board of Directors declared a $0.20 per share cash dividend, payable November 20, 2023 to shareholders of record on November 10, 2023. We recommend reading this earnings release in conjunction with the Third Quarter 2023 Investor Presentation, located at http://investor.mybankwell.com/Presentations and included as an exhibit to our October 25, 2023 Current Report on Form 8-K. Notes Bankwell Financial Group President and CEO, Christopher R. Gruseke: "We continue to g
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the parent company of Bankwell Bank, has announced the appointment of Brian Merritt as Chief Technology Officer. Mr. Merritt brings extensive experience in banking, fintech, and engineering leadership to Bankwell. Prior to joining the company, he served as SVP, Head of Product at Cross River and was previously CEO of Seed, an online business bank. He also held the role of VP of Engineering at Simple, where he helped scale the company from its early stages to over 100,000 customers. Christopher R. Gruseke, President and CEO of Bankwell, stated, "We are pleased to welcome Brian to the team. His deep expertise in banking technology, product devel
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the parent company of Bankwell Bank, has announced the appointment of Michael Johnston as Senior Vice President in the newly established role of Head of SBA Lending. Mr. Johnston most recently served as the National Sales Director for Ready Capital, the nation's fourth largest SBA lender. Additionally, Mr. Johnston has held various lending and underwriting positions at Zions Bank, Bank of the West, CapitalSource, and Washington Mutual. Christopher R. Gruseke, President and CEO of Bankwell, stated, "We are excited to welcome Michael to the team. We have created the new role of Head of SBA Lending to further our evolution as a relationship-drive
Combining industry leaders in ERISA and cannabis compliance, the country's first fully vetted and transparent PEP for legal cannabis companies is now available to join The North American Companies Council, Inc. (The NACC™) announced today that it has been offering a 401(k) Pooled Employer Plan (PEP) to its members. This groundbreaking initiative is designed to exclusively serve cannabis-related entities across the country. The NACC PEP is the country's first fully vetted and transparent 401(k) solution for legal cannabis companies. To date, it is the only fully vetted retirement savings option for this industry. Jeff Mayhall, Board Member, The NACC™, said, "Retirement savings is an impor
NEW CANAAN, Conn.--(BUSINESS WIRE)--Bankwell Financial Group, Inc. (NASDAQ: BWFG) (the “Company”) announced today that it will resume its previously authorized share repurchase program. Under the existing program, the Company may repurchase an additional 307,333 shares, or approximately 4% of the Company’s outstanding shares. The Company also announced that it will include one-time pre-tax charges of approximately $3.9 million in its Q4 2020 results. Approximately $2.3 million of these charges are estimated to result in future cash expenditures. The charges are related to the Company’s previously announced expense reduction initiative and were approved by the Company’s Board of Dir
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Hovde Group initiated coverage of Bankwell Financial Group with a rating of Outperform and set a new price target of $26.00
Keefe Bruyette upgraded Bankwell Financial Group from Mkt Perform to Outperform and set a new price target of $35.00 from $32.00 previously
Boenning & Scattergood upgraded Bankwell Financial Group from Neutral to Outperform and set a new price target of $33.00
8-K - Bankwell Financial Group, Inc. (0001505732) (Filer)
10-Q - Bankwell Financial Group, Inc. (0001505732) (Filer)
8-K - Bankwell Financial Group, Inc. (0001505732) (Filer)
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DEF 14A - Bankwell Financial Group, Inc. (0001505732) (Filer)
10-K - Bankwell Financial Group, Inc. (0001505732) (Filer)
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8-K - Bankwell Financial Group, Inc. (0001505732) (Filer)
8-K - Bankwell Financial Group, Inc. (0001505732) (Filer)
8-K - Bankwell Financial Group, Inc. (0001505732) (Filer)