Welcome to our dedicated page for Bankwell Financi news (Ticker: BWFG), a resource for investors and traders seeking the latest updates and insights on Bankwell Financi stock.
Bankwell Financial Group Inc. (BWFG) provides Connecticut businesses and consumers with comprehensive banking solutions through its subsidiary Bankwell. This page serves as the definitive source for all official company announcements and market-related news.
Access timely updates on BWFG's financial performance, strategic initiatives, and regulatory developments. Investors will find earnings reports, merger details, and leadership updates, while businesses can track commercial lending rate changes and new depository products.
Our curated collection includes press releases about commercial real estate financing innovations, retail banking product launches, and community impact initiatives. All content is sourced directly from company filings and verified news outlets to ensure accuracy.
Bookmark this page for streamlined access to BWFG's evolving story in regional banking. Check regularly for updates on Connecticut's financial landscape and the company's role in shaping local economic growth.
Bankwell Financial Group (NASDAQ: BWFG) reported Q1 2025 GAAP net income of $6.9 million ($0.87 per share), up from $3.0 million ($0.37 per share) in Q4 2024. The company declared a $0.20 per share cash dividend payable May 20, 2025.
Key highlights include:
- Pre-tax, pre-provision net revenue increased 10.7% to $9.4 million
- Net interest margin expanded to 2.81%, up 21 basis points from Q4 2024
- Nonperforming assets improved to 0.83% of total assets, down from 1.88%
- Successfully resolved two non-performing credits, including sale of $27.1M multifamily loan
- SBA loan sales generated $442,000 in gains with 110% average sale price
The company expanded into NYC metro market with two new deposit teams and reaffirmed its previous financial guidance despite macroeconomic volatility.
Bankwell Financial Group (NASDAQ: BWFG) has scheduled its first quarter 2025 earnings release and conference call. The company will release its financial results for the quarter ended March 31, 2025, on Wednesday, April 23, 2025, after market close.
Management will host an audio webcast and conference call the following day, Thursday, April 24, 2025, at 10:00 a.m. Eastern Time to discuss the company's financial performance and operating results. The webcast and presentation slides will be accessible through Bankwell's Investor Relations website and will remain archived there for twelve months.
Bankwell Financial Group (NASDAQ: BWFG) has appointed Brian Merritt as Chief Technology Officer. Merritt brings significant experience in banking, fintech, and engineering leadership to the company. His previous roles include serving as SVP, Head of Product at Cross River, CEO of Seed (an online business bank), and VP of Engineering at Simple, where he helped scale the company to over 100,000 customers.
According to President and CEO Christopher R. Gruseke, Merritt's expertise in banking technology, product development, and system architecture will be important in advancing Bankwell's digital capabilities and technology infrastructure to deliver innovative solutions to customers.
Bankwell Financial Group (NASDAQ: BWFG) reported Q4 2024 GAAP net income of $2.5 million ($0.32 per share), up from $1.9 million ($0.24 per share) in Q3 2024. The company declared a $0.20 per share cash dividend payable February 21, 2025.
Pre-tax, pre-provision net revenue decreased 12% to $7.9 million compared to Q3 2024. The quarter included $3.0 million in charge-offs. The company has executed purchase agreements on two nonperforming assets totaling $35.4 million, which will reduce nonperforming assets ratio by 108 basis points in Q1 2025.
For 2025, Bankwell projects net interest income of $93-95 million, noninterest income of $7-8 million, and noninterest expense of $56-57 million. The company expects benefits from $1.3 billion in time deposits repricing at lower rates over the next 12 months, potentially contributing $4.4 million annually to net interest income.
Bankwell Financial Group (NASDAQ: BWFG) has scheduled its fourth quarter earnings release for January 22, 2025, after market close. The company will host an audio webcast and conference call the following day, January 23, 2025, at 10:00 a.m. Eastern Time to discuss financial performance and operating results.
The audio webcast and presentation slides will be available on Bankwell's Investor Relations website. The webcast recording will remain accessible on the company's website for twelve months after the event.
Bankwell Financial Group (NASDAQ: BWFG) has announced board approval allowing director Lawrence B. Seidman to increase his maximum ownership stake in the company from 9.9% to 14.99% of common stock. Seidman, who has served on Bankwell's board since 2020 and manages Seidman and Associates, , expressed that this decision aligns with his investment strategy of acquiring undervalued publicly traded community banks and demonstrates his confidence in the company's management and outlook. CEO Christopher R. Gruseke acknowledged Seidman's support of the company's strategic direction and growth initiatives.
Bankwell Financial Group (NASDAQ: BWFG) reported Q3 2024 GAAP net income of $1.9 million ($0.24 per share), up from $1.1 million ($0.14 per share) in Q2 2024. Results include an $8.2 million charge-off against a $13.7 million office loan. Pre-tax, pre-provision net revenue was $9.0 million ($1.17 per share), down 7% from Q2. The Board declared a $0.20 per share dividend and authorized a new share repurchase plan for up to 250,000 shares. Net interest margin was 2.72%, with brokered deposits down $168.5 million since December 2023. The company expects margin improvement from $1.3 billion in maturing time deposits and $0.5 billion in repricing loans over the next 12 months.
Bankwell Financial Group, Inc. (NASDAQ: BWFG), the holding company for Bankwell Bank, has announced its schedule for releasing third quarter 2024 earnings. The company will issue its earnings release on Monday, October 28, 2024, after market close. Following this, management will host an audio webcast and conference call on Tuesday, October 29, 2024, at 10:00 a.m. Eastern Time to review the company's financial performance and operating results.
The audio webcast link and corresponding presentation slides will be available on Bankwell's Investor Relations site prior to the webcast. For those unable to attend live, the webcast will be archived on the company's website for twelve months, accessible at any time during this period.
Bankwell Financial Group, Inc. (NASDAQ: BWFG) has appointed Michael Johnston as Senior Vice President and Head of SBA Lending, a newly created position. Johnston, previously National Sales Director at Ready Capital, brings extensive experience from roles at Zions Bank, Bank of the West, CapitalSource, and Washington Mutual. Christopher R. Gruseke, President and CEO of Bankwell, emphasized that this appointment aligns with the bank's strategy to evolve as a relationship-driven, commercially focused institution supporting small businesses. Johnston expressed excitement about contributing to Bankwell's growth strategy, particularly in expanding its small business customer base.
The North American Companies Council, Inc. (The NACC™) has launched the country's first fully vetted and transparent 401(k) Pooled Employer Plan (PEP) for legal cannabis companies. This groundbreaking initiative aims to provide retirement savings options for approximately 500,000 employees in the cannabis industry who previously faced barriers to such benefits. The NACC PEP combines expertise from industry leaders in ERISA and cannabis compliance, offering a unique solution for cannabis-related entities across the United States.
Key partners in this initiative include CuraFin Advisors as the 3(38) investment manager, Group Plan Systems, as the Pooled Plan Provider, AmericanTCS's American Trust Retirement for recordkeeping and administration, Bankwell (Nasdaq: BWFG) as the custodian, and Green Check Verified, Inc. for compliance services.
