Loading…
Bankwell Financial Group, Inc. operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It provides various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also offers first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and personal loans. It operates branches in New Canaan, Stamford, Fairfield, Westport, Darien, Norwalk, 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $108M | - | $35M | $27M | 11.7% | 24.5% | 260.3% |
| 2024 | $87M | - | $10M | $29M | 3.6% | -12.4% | -73.4% |
| 2023 | $99M | - | $37M | $30M | 13.8% | 1.6% | -2.0% |
| 2022 | $98M | - | $37M | $78M | 15.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 97.78 | 99.31 | 87 | 108.32 |
| Pretax Income | 47.98 | 48.04 | 13.33 | 48.49 |
| Tax Provision | 10.55 | 11.38 | 3.56 | 13.30 |
| Net Income | 37.43 | 36.66 | 9.77 | 35.20 |
| Net Income Common Stockholders | 36.62 | 35.70 | 9.53 | 34.79 |
| Interest Expense | 23.20 | 93.99 | 108.71 | 99.39 |
| Interest Income | 117.94 | 188.45 | 191.99 | 198.33 |
| Selling General And Administration | 25.64 | 31.22 | 29.39 | 34.93 |
| Normalized Income | 37.43 | 36.66 | 9.77 | 35.20 |
| Basic EPS | 4.84 | 4.71 | 1.18 | 4.49 |
| Diluted EPS | 4.79 | 4.67 | 1.17 | 4.45 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.22 | 0.24 | 0.27 | 0.27 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 37.43 | 36.66 | 9.77 | 35.20 |
| Reconciled Depreciation | 3.37 | 3.62 | 3.77 | 4.08 |
| Net Interest Income | 94.74 | 94.47 | 83.28 | 98.94 |
| Net Income From Continuing And Discontinued Operation | 37.43 | 36.66 | 9.77 | 35.20 |
| Diluted Average Shares | 7.64 | 7.65 | 7.74 | 7.83 |
| Basic Average Shares | 7.56 | 7.59 | 7.71 | 7.75 |
| Diluted NI Availto Com Stockholders | 36.62 | 35.70 | 9.53 | 34.79 |
| Otherunder Preferred Stock Dividend | 0.81 | 0.96 | 0.24 | 0.41 |
| Net Income Including Noncontrolling Interests | 37.43 | 36.66 | 9.77 | 35.20 |
| Net Income Continuous Operations | 37.43 | 36.66 | 9.77 | 35.20 |
| Selling And Marketing Expense | 0.37 | 0.65 | 0.45 | 0.61 |
| General And Administrative Expense | 25.27 | 30.57 | 28.94 | 34.32 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.64 | 4.16 | 3.35 | 2.69 |
| Salaries And Wages | 23.63 | 26.41 | 25.59 | 31.64 |
| Operating Revenue | 97.78 | 99.31 | 87 | 108.32 |
| Occupancy And Equipment | 8.30 | 8.66 | 9.49 | 10.12 |
| Professional Expense And Contract Services Expense | 3.89 | 3.54 | 4.48 | 5.99 |
| Other Non Interest Expense | 6.54 | 6.98 | 7.69 | 7.75 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bankwell Financial Group, Inc.this co. | BWFG | $419M | 10.53 | 1.31 | 11.7% | - |
| Bank7 Corp. | BSVN | $414M | 9.31 | 1.59 | 17.2% | - |
| Bank of Marin Bancorp | BMRC | $413M | - | 1.03 | -9.0% | - |
| Citizens & Northern Corporation | CZNC | $412M | 15.75 | 1.20 | 6.9% | - |
| West Bancorporation, Inc. | WTBA | $409M |
| 11.60 |
| 1.51 |
| 12.2% |
| - |
| RBB Bancorp | RBB | $408M | 10.11 | 0.78 | 6.1% | - |
| GBank Financial Holdings Inc. | GBFH | $407M | 19.55 | 2.44 | 12.6% | - |
| Chaince Digital Holdings Inc. | CD | $406M | - | 8.46 | -11.6% | -100.98 |
| Greene County Bancorp, Inc. | GCBC | $402M | 10.31 | 1.50 | 13.0% | - |
| Peer Median | - | 10.95 | 1.51 | 9.5% | -100.98 | |