NASDAQ : BWFG
Bankwell Financial Group, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 71.23 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 553.44M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 192.71M | 180.67M | 172.83M | 170.18M | 111.24M | 78.04M |
| Interest Income on Investments | 15.49M | 17.66M | 19.16M | 18.27M | 6.70M | 3.33M |
| Total Interest Income | 208.20M | 198.33M | 191.99M | 188.45M | 117.94M | 81.38M |
| Interest Paid on Deposits | 87.36M | 92.83M | 101.26M | 86.91M | 19.36M | 10.44M |
| Interest Paid on Borrowings | 6.14M | 6.56M | 7.45M | 7.08M | 3.84M | 3.05M |
| Total Interest Expense | 93.50M | 99.39M | 108.71M | 93.99M | 23.20M | 13.49M |
| Net Interest Income | 114.71M | 98.94M | 83.28M | 94.47M | 94.74M | 67.89M |
| Other Non-Interest Income | 4.14M | 4.31M | 3.19M | 2.87M | 1.80M | 2.06M |
| Total Non-Interest Income | 13.96M | 9.39M | 3.72M | 4.84M | 3.04M | 4.76M |
| Revenues Before Loan Losses | 128.66M | 108.32M | 87.00M | 99.31M | 97.78M | 72.64M |
| Provision for Loan Losses | -452.00K | 1.04M | 22.62M | 866.00K | 5.44M | -57.00K |
| Revenue | 129.11M | 107.28M | 64.38M | 98.44M | 92.35M | 72.70M |
| Salaries and Employee Benefits | 34.24M | 27.94M | 20.75M | 21.52M | 19.88M | 16.48M |
| Occupancy Expenses | 8.22M | 7.52M | 7.09M | 6.17M | 5.70M | 7.58M |
| Federal Deposit Insurance | 2.27M | 2.69M | 3.35M | 4.16M | 1.64M | 1.23M |
| Selling, General & Administrative | 15.46M | 16.00M | 15.42M | 14.46M | 13.24M | 11.31M |
| Other Non-Interest Expense | 7.24M | 4.64M | 4.44M | 4.09M | 3.91M | 3.13M |
| Total Non-Interest Expense | 67.44M | 58.79M | 51.05M | 50.40M | 44.36M | 39.74M |
| EBT Excluding Unusual Items | 61.67M | 48.49M | 13.33M | 48.04M | 47.98M | 32.96M |
| Other Unusual Items | 900.00K | |||||
| Pretax Income | 61.67M | 48.49M | 13.33M | 48.04M | 47.98M | 33.86M |
| Income Tax Expense | 16.14M | 13.30M | 3.56M | 11.38M | 10.55M | 7.28M |
| Net Income | 45.53M | 35.20M | 9.77M | 36.66M | 37.43M | 26.59M |
| Preferred Dividends & Other Adjustments | 529.00K | 408.00K | 243.00K | 958.00K | 813.00K | 509.00K |
| Net Income to Common | 45.00M | 34.79M | 9.53M | 35.70M | 36.62M | 26.08M |
| Basic Shares Outstanding | 7.80M | 7.75M | 7.71M | 7.59M | 7.56M | 7.71M |
| Diluted Shares Outstanding | 7.89M | 7.83M | 7.74M | 7.65M | 7.64M | 7.76M |
| EPS (Basic) | 5.77 | 4.49 | 1.24 | 4.71 | 4.84 | 3.38 |
| EPS (Diluted) | 5.70 | 4.45 | 1.23 | 4.67 | 4.79 | 3.36 |
| Dividend Per Share | 0.80 | 0.80 | 0.80 | 0.80 | 0.80 | 0.64 |
| Effective Tax Rate | 26.18% | 27.42% | 26.70% | 23.69% | 22.00% | 21.49% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 255.55M | 224.92M | 307.52M | 269.16M | 355.68M | 344.68M |
| Investment Securities | 200.20M | 192.12M | 146.07M | 127.59M | 121.60M | 108.36M |
| Trading Asset Securities | 4.97M | 7.47M | 8.82M | 12.50M | 3.63M | |
| Mortgage-Backed Securities | 28.00K | 32.00K | 36.00K | 45.00K | ||
| Total Investments | 200.20M | 197.09M | 153.57M | 136.44M | 134.13M | 112.04M |
| Gross Loans | 2.98B | 2.84B | 2.71B | 2.72B | 2.68B | 1.89B |
| Allowance for Loan Losses | -30.71M | -30.70M | -29.01M | -27.95M | -22.43M | -16.90M |
| Other Adjustments to Gross Loans | -4.93M | -3.92M | -5.36M | -6.63M | -2.81M | |
| Net Loans | 2.95B | 2.80B | 2.67B | 2.69B | 2.65B | 1.88B |
| Property, Plant & Equipment | 19.73M | 21.58M | 23.86M | 27.02M | 27.20M | 25.59M |
| Goodwill | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M |
| Accrued Interest Receivable | 17.54M | 16.14M | 14.54M | 14.86M | 13.07M | 7.51M |
| Other Current Assets | 18.11M | |||||
| Long-Term Deferred Tax Assets | 11.10M | 11.36M | 9.74M | 9.38M | 7.42M | 7.62M |
| Other Real Estate Owned & Foreclosed | 8.30M | |||||
| Other Long-Term Assets | 93.80M | 75.53M | 69.75M | 65.03M | 60.76M | 60.14M |
| Total Assets | 3.56B | 3.36B | 3.27B | 3.22B | 3.25B | 2.46B |
| Accrued Expenses | 58.58M | 34.55M | 33.71M | 48.35M | 49.89M | 28.87M |
| Interest Bearing Deposits | 2.51B | 1.37B | 1.28B | 1.19B | 1.24B | 1.33B |
| Institutional Deposits | 1.05B | 1.19B | 1.20B | 1.16B | 391.19M | |
| Non-Interest Bearing Deposits | 453.08M | 403.65M | 321.88M | 346.17M | 404.56M | 398.96M |
| Total Deposits | 2.97B | 2.83B | 2.79B | 2.74B | 2.80B | 2.12B |
| Short-Term Borrowings | 125.00M | 110.00M | 90.00M | 90.00M | 90.00M | |
| Current Portion of Long-Term Debt | 50.00M | |||||
| Current Portion of Leases | 2.55M | |||||
| Long-Term Debt | 69.88M | 72.90M | 73.92M | 73.70M | 73.17M | 51.22M |
| Long-Term Leases | 8.41M | 12.00M | ||||
| Other Long-Term Liabilities | 488.00K | 756.00K | 926.00K | 103.00K | 184.00K | |
| Total Liabilities | 3.22B | 3.06B | 3.00B | 2.95B | 3.01B | 2.25B |
| Common Stock | 122.91M | 120.12M | 119.11M | 118.25M | 115.02M | 118.15M |
| Retained Earnings | 213.23M | 181.59M | 152.66M | 149.17M | 123.64M | 92.40M |
| Comprehensive Income & Other | -2.00M | -216.00K | -1.24M | -1.66M | -189.00K | -8.56M |
| Shareholders' Equity | 334.13M | 301.49M | 270.52M | 265.75M | 238.47M | 201.99M |
| Total Liabilities & Equity | 3.56B | 3.36B | 3.27B | 3.22B | 3.25B | 2.46B |
| Total Debt | 194.88M | 193.85M | 175.92M | 163.70M | 163.17M | 101.22M |
| Net Cash (Debt) | 60.67M | 36.04M | 139.07M | 114.28M | 205.01M | 247.09M |
| Net Cash Per Share | 7.68 | 4.61 | 17.97 | 14.94 | 26.83 | 31.83 |
| Filing Date Shares Outstanding | 7.77M | 7.77M | 7.68M | 7.68M | 7.63M | 7.68M |
| Total Common Shares Outstanding | 7.77M | 7.69M | 7.64M | 7.63M | 7.52M | 7.61M |
| Book Value Per Share | 43.00 | 39.19 | 35.43 | 34.84 | 31.73 | 26.53 |
| Tangible Book Value | 331.55M | 298.90M | 267.93M | 263.16M | 235.88M | 199.40M |
| Tangible Book Value Per Share | 42.67 | 38.85 | 35.09 | 34.50 | 31.38 | 26.19 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 35.20M | 9.77M | 36.66M | 37.43M | 26.59M | |
| Depreciation & Amortization | 4.08M | 3.77M | 3.62M | 3.37M | 3.58M | |
| Other Amortization | 246.00K | 246.00K | 246.00K | 166.00K | 265.00K | |
| Gain (Loss) on Sale of Assets | 31.00K | 13.00K | -20.00K | 498.00K | ||
| Gain (Loss) on Sale of Investments | 1.00K | 161.00K | 23.00K | 522.00K | 293.00K | |
| Total Asset Writedown | -280.00K | |||||
| Provision for Credit Losses | 1.04M | 22.62M | 866.00K | 5.44M | -57.00K | |
| Accrued Interest Receivable | -1.61M | 328.00K | -1.79M | -5.56M | -933.00K | |
| Change in Other Net Operating Assets | -5.50M | -6.18M | -6.00M | 39.41M | 4.84M | |
| Other Operating Activities | -2.96M | -1.82M | -1.38M | -3.03M | 752.00K | |
| Operating Cash Flow | 28.27M | 29.94M | 31.93M | 82.67M | 34.56M | |
| Capital Expenditures | -1.14M | -613.00K | -2.04M | -4.96M | ||
| Sale of Property, Plant and Equipment | 4.26M | |||||
| Investment in Securities | -43.33M | -16.11M | -4.86M | -24.56M | -3.22M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -129.85M | -17.28M | -40.91M | -779.24M | -270.61M | |
| Other Investing Activities | -552.00K | 41.00K | -480.00K | -2.40M | -454.00K | |
| Investing Cash Flow | -165.19M | -33.96M | -48.30M | -811.16M | -270.02M | |
| Long-Term Debt Issued | 190.00M | 74.35M | 34.42M | |||
| Long-Term Debt Repaid | -170.00M | -150.50M | ||||
| Net Debt Issued (Repaid) | 20.00M | 74.35M | -116.08M | |||
| Issuance of Common Stock | 155.00K | 48.00K | 53.00K | |||
| Repurchase of Common Stock | -1.33M | -2.14M | -5.54M | -5.08M | ||
| Common Dividends Paid | -6.27M | -6.28M | -6.24M | -6.19M | -5.03M | |
| Total Dividends Paid | -6.27M | -6.28M | -6.24M | -6.19M | -5.03M | |
| Net Increase (Decrease) in Deposit Accounts | 41.91M | 50.81M | -64.06M | 676.82M | 296.68M | |
| Financing Cash Flow | 54.31M | 42.39M | -70.15M | 739.49M | 170.55M | |
| Net Cash Flow | -82.60M | 38.37M | -86.52M | 11.00M | -64.92M | |
| Free Cash Flow | 27.13M | 29.32M | 29.88M | 77.71M | 34.56M | |
| Free Cash Flow Margin | 25.29% | 45.55% | 30.35% | 84.15% | 47.53% | |
| Free Cash Flow Per Share | 3.47 | 3.79 | 3.91 | 10.17 | 4.45 | |
| Cash Interest Paid | 99.39M | 108.71M | 86.04M | 17.79M | 14.01M | |
| Cash Income Tax Paid | 11.94M | 5.38M | 12.10M | 11.52M | 5.09M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 566.72M | 352.50M | 237.70M | 229.41M | 220.89M | 251.69M |
| Last Close Price | 72.94 | 45.33 | 30.15 | 28.34 | 26.79 | 29.19 |
| PE Ratio | 12.79 | 10.13 | 24.95 | 6.42 | 6.03 | 9.65 |
| PS Ratio | 4.39 | 3.29 | 3.69 | 2.33 | 2.39 | 3.46 |
| PB Ratio | 1.70 | 1.17 | 0.88 | 0.86 | 0.93 | 1.25 |
| P/FCF Ratio | 16.43 | 12.99 | 8.11 | 7.68 | 2.84 | 7.28 |
| P/OCF Ratio | 15.82 | 12.47 | 7.94 | 7.18 | 2.67 | 7.28 |
| Debt / Equity Ratio | 0.58 | 0.64 | 0.65 | 0.62 | 0.68 | 0.50 |
| Debt / FCF Ratio | 7.14 | 6.00 | 5.48 | 2.10 | 2.93 | |
| Net Debt / Equity Ratio | -0.18 | -0.12 | -0.51 | -0.43 | -0.86 | -1.22 |
| Net Debt / FCF Ratio | -1.33 | -4.74 | -3.82 | -2.64 | -7.15 | |
| Return on Equity (ROE) | 14.52% | 12.31% | 3.64% | 14.54% | 17.00% | 14.04% |
| Return on Assets (ROA) | 1.34% | 1.06% | 0.30% | 1.13% | 1.31% | 1.13% |
| Earnings Yield | 7.82% | 9.98% | 4.11% | 15.98% | 16.95% | 10.56% |
| FCF Yield | 6.09% | 7.70% | 12.34% | 13.03% | 35.18% | 13.73% |
| Dividend Yield | 1.10% | 1.75% | 2.57% | 2.66% | 2.72% | 1.94% |
| Payout Ratio | 14.03% | 17.80% | 64.31% | 17.02% | 16.54% | 18.90% |
| Buyback Yield / Dilution | -1.23% | -1.14% | -1.18% | -0.09% | 1.57% | -0.17% |
| Total Shareholder Return | -0.14% | 0.60% | 1.39% | 2.57% | 4.29% | 1.76% |