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Company Reports First Quarter Profitability Increase to 1.35%
CEO, Christopher R. Gruseke: "We generated outstanding first quarter results while advancing our strategic priorities. Profitability increased during the quarter, reflected in a return on average assets of 1.35%, and the Company grew core deposits by $113 million sequentially. Our SBA division continues to execute measured, profitable growth, with originations this quarter of $34 million, and we have continued to improve our asset and liability mix as floating rate loans now comprise 42% of the loan portfolio. Results for the quarter include a sequential increase to the Company's non-interest expense of approximately $1.4 million. This increase reflects the timing of some expense recognition, and we believe current trends support our non-interest expense guidance previously provided of $64 to $65 million for the full year. We also affirm prior guidance regarding Net Interest Income and loan growth for 2026. Due to an improved outlook for SBA gains on sale and other commercial fees, however, we are increasing our guidance for Non-Interest Income to a range of $12 to $13 million. As we enter the remainder of the year, we are confident in our credit quality and are well positioned to reduce NPAs in the quarters ahead."
Bankwell Financial Group Opens New Office in Brooklyn
Bankwell Financial Group announced the opening of its Brooklyn office in the Bay Ridge neighborhood, expanding the bank's commercial and private client banking presence into New York City. The office officially opened on February 20, 2026, and is located at 557-559 86th Street, Brooklyn, NY 11209. The Bay Ridge office represents Bankwell's first full-service location in New York State and supports the bank's continued focus on serving closely held businesses, their owners, and professionals in key markets. The Brooklyn office is home to an experienced private client banking team that joined Bankwell in 2025, led by Monika Buono, Private Client Group Director.
Company Reports Q4 Revenue of $30.32M, Beating Consensus
Reports Q4 revenue $30.32M, consensus $28.06M. Reports Q4 tangible book value per share $37.84. Reports Q4 CET1 capital ratio 11.87%. The company said, "We finished the year in strong fashion, reporting operating net income of $1.36 per share for the 4th quarter and Pre-tax, pre-provision net revenue return on average assets of 1.80%. GAAP Net Income of $1.15 per share for the quarter includes a one-time adjustment for multiple years' state level tax provisioning outside of our home state of Connecticut. We entered the year with a clear set of priorities: strengthen credit, improve the funding mix, build non-interest income, generate high-quality growth, and embrace an innovative mindset as we continue to invest in our people and in technology and I'm pleased to say that we delivered on each of these priorities."
Bankwell Financial Announces Q3 EPS of $1.27, Exceeding Consensus Estimate of $1.06
Reports Q3 revenue $28.48M, consensus $27.26M. Reports Q3 tangible book value per share $36.84. Reports Q3 CET1 capital ratio 12.38%. "We are proud to announce our third quarter results which demonstrate continued growth and improvement across all aspects of our business. Our Return on Average Assets grew to 1.24% for the quarter while the Net Interest Margin expanded to 3.34%. Funded loan originations have grown to $518 million year-to-date, versus full year fundings of $328 million in 2024. Our SBA division continues to grow at a disciplined pace, with gains on sale increasing to $1.4 million for the third quarter. Notably, as we have expanded our capabilities across the Company, we have improved our efficiency ratio, reducing it to 51.4% this quarter. Balance sheet trends have shown consistent improvement, supported by ongoing capital growth and a reduction in non-performing asset balances. NPAs as a percentage of assets now stand 0.56%, and our outlook remains positive for the quarters ahead. We look forward to closing out 2025 with continued momentum and we will provide guidance for 2026 performance with our year end earnings release."
Bankwell Financial reports Q2 EPS $1.15, consensus 84c
Reports Q2 revenue $25.95M, consensus $24.31M. Reports Q2 tangible book value per share $35.65. Reports Q2 CET1 capital ratio 12.2%. The company said, "Our strong second quarter reflects an acceleration of positive trends which have been building over the past year. Notably, our net interest margin increased to 3.10% as a result of our improved funding costs. Loan originations accelerated in the quarter, resulting in $24 million net loan growth, which includes another robust quarter of SBA originations. Having already made the appropriate investments in risk, operations, and technology, the SBA business is on a path to achieve further scale and profitability. Year to date, it has contributed $1.5 million in non-interest income. The combined results of our efforts have increased the Company's return on average assets to 1.14% this quarter and we expect continued improvement in profitability as the year progresses."
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