Bankwell Financial Group, Inc. (BWFG) 10-Year Financial Performance & Capital Metrics

BWFG • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutBankwell Financial Group, Inc. operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides 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, 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 secured by savings or certificate accounts and automobiles; and unsecured personal loans and overdraft lines of credit. It operates branches in New Canaan, Stamford, Fairfield, Wilton, 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.Show more

Net Interest Income $83M -11.8%
Total Revenue $196M +1.2%
Net Income $10M -73.4%
Return on Equity 3.64% -74.9%
Net Interest Margin 2.55% -13.3%
Efficiency Ratio 26.08%
ROA 0.3% -73.4%
Equity / Assets 8.28% +0.1%
Book Value per Share 34.96 +0.6%
Tangible BV/Share 34.63 +0.6%
Debt/Equity 0.59 -1.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 26.1% efficiency ratio
✓Trading at only 1.4x book value

✗Weaknesses

✗Profits declining 11.7% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y17.62%

5Y17.28%

3Y31.01%

TTM-

Profit (Net Income) CAGR

10Y7.9%

5Y-11.71%

3Y-28.37%

TTM89.27%

EPS CAGR

10Y4.66%

5Y-11.84%

3Y-28.46%

TTM87.69%

ROCE

10Y Avg7.03%

5Y Avg8%

3Y Avg9.26%

Latest2.78%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	42.79M	49.09M	54.36M	56.33M	53.76M	54.84M	67.89M	94.74M	94.47M	83.28M
NII Growth %	0.35%	0.15%	0.11%	0.04%	-0.05%	0.02%	0.24%	0.4%	-0%	-0.12%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	50.75M	60.99M	71.2M	80.06M	82.95M	77.49M	81.38M	117.94M	188.45M	191.99M
Interest Expense	7.97M	11.9M	16.84M	23.74M	29.19M	22.65M	13.49M	23.2M	93.99M	108.71M
Loan Loss Provision	3.23M	3.91M	1.34M	3.44M	437K	7.61M	-57K	5.44M	866K	22.62M
Non-Interest Income+	3.48M	2.68M	4.63M	3.9M	5.24M	2.88M	5.66M	3.04M	4.84M	3.72M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	54.24M	63.67M	75.83M	83.96M	88.19M	80.37M	87.03M	120.98M	193.3M	195.71M
Revenue Growth %	0.4%	0.17%	0.19%	0.11%	0.05%	-0.09%	0.08%	0.39%	0.6%	0.01%
Non-Interest Expense	29.17M	29.54M	32.52M	35.63M	35.63M	42.81M	39.74M	44.36M	50.4M	51.05M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	13.87M	18.31M	25.13M	21.15M	22.94M	7.3M	33.86M	47.98M	48.04M	13.33M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.06%	0.32%	0.37%	-0.16%	0.08%	-0.68%	3.64%	0.42%	0%	-0.72%
Pretax Income+	13.87M	18.31M	25.13M	21.15M	22.94M	7.3M	33.86M	47.98M	48.04M	13.33M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.84M	5.96M	11.3M	3.72M	4.73M	1.4M	7.28M	10.55M	11.38M	3.56M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	9.03M	12.35M	13.83M	17.43M	18.22M	5.9M	26.59M	37.43M	36.66M	9.77M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.98%	0.37%	0.12%	0.26%	0.04%	-0.68%	3.5%	0.41%	-0.02%	-0.73%
Net Income (Continuing)	9.03M	12.35M	13.83M	17.43M	18.22M	5.9M	26.59M	37.43M	36.66M	9.77M
EPS (Diluted)+	1.21	1.62	1.78	2.21	2.31	0.75	3.36	4.79	4.67	1.23
EPS Growth %	0.55%	0.34%	0.1%	0.24%	0.05%	-0.68%	3.48%	0.43%	-0.03%	-0.74%
EPS (Basic)	1.23	1.64	1.80	2.23	2.32	0.75	3.38	4.84	4.71	1.24
Diluted Shares Outstanding	7.14M	7.49M	7.67M	7.78M	7.79M	7.75M	7.76M	7.64M	7.65M	7.74M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	49.56M	96.03M	70.55M	75.41M	78.05M	405.34M	291.6M	344.93M	267.52M	293.55M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.18B	1.45B	1.64B	1.7B	1.7B	1.74B	2B	2.78B	2.82B	2.82B
Investments Growth %	0.19%	0.23%	0.13%	0.04%	-0%	0.02%	0.15%	0.39%	0.01%	0%
Long-Term Investments	1.14B	1.36B	1.54B	1.61B	1.62B	1.65B	1.91B	2.67B	2.81B	2.79B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	2.59M	2.59M	2.59M	2.59M	2.59M	2.59M	2.59M	2.59M	2.59M	2.59M
Intangible Assets	652K	501K	382K	290K	214K	76K	0	0	0	0
PP&E (Net)	11.16M	17.84M	18.2M	19.77M	28.52M	21.76M	25.59M	27.2M	27.02M	23.86M
Other Assets	73.44M	48.2M	57.4M	60.66M	57.76M	64.48M	118.21M	78.72M	74.44M	99.79M
Total Current Assets	94.21M	188.74M	168.64M	174.94M	166.45M	500.52M	389.31M	461.66M	292.17M	339.8M
Total Non-Current Assets	1.24B	1.44B	1.63B	1.7B	1.72B	1.75B	2.07B	2.79B	2.92B	2.93B
Total Assets+	1.33B	1.63B	1.8B	1.87B	1.88B	2.25B	2.46B	3.25B	3.22B	3.27B
Asset Growth %	0.21%	0.22%	0.1%	0.04%	0%	0.2%	0.09%	0.32%	-0.01%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0.01%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	145M	185.05M	224.1M	185.16M	175.21M	200.26M	84.44M	158.96M	159.21M	159.45M
Net Debt	95.44M	89.03M	153.56M	109.74M	97.16M	-205.08M	-207.16M	-185.97M	-108.32M	-134.1M
Long-Term Debt	145M	185.05M	224.1M	185.16M	175.21M	200.26M	84.44M	158.96M	159.21M	159.45M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	0	0	0	53.77M	50.94M
Total Current Liabilities	1.05B	1.3B	1.41B	1.51B	1.52B	1.88B	2.17B	2.86B	2.74B	2.79B
Total Non-Current Liabilities	145M	185.05M	224.1M	185.16M	175.21M	200.26M	84.44M	158.96M	212.97M	210.39M
Total Liabilities	1.2B	1.48B	1.64B	1.7B	1.7B	2.08B	2.25B	3.01B	2.95B	3B
Total Equity+	131.77M	145.9M	161.03M	174.2M	182.4M	176.6M	201.99M	238.47M	265.75M	270.52M
Equity Growth %	0.02%	0.11%	0.1%	0.08%	0.05%	-0.03%	0.14%	0.18%	0.11%	0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.09%	0.09%	0.1%	0.1%	0.03%	0.14%	0.17%	0.15%	0.04%
Book Value per Share	18.45	19.48	20.99	22.40	23.43	22.79	26.02	31.21	34.75	34.96
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	112.58M	115.35M	118.3M	120.53M	120.59M	121.34M	118.15M	115.02M	118.25M	119.11M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	18.96M	29.65M	41.33M	54.71M	69.32M	70.84M	92.4M	123.64M	149.17M	152.66M
Accumulated OCI	227K	890K	1.69M	-1.04M	-7.52M	-15.57M	-8.56M	-189K	-1.66M	-1.24M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	13.15M	17.37M	20.57M	19.98M	6.63M	-1.51M	34.56M	82.67M	31.93M	29.94M
Operating CF Growth %	0.43%	0.32%	0.18%	-0.03%	-0.67%	-1.23%	23.86%	1.39%	-0.61%	-0.06%
Net Income	9.03M	12.35M	13.83M	17.43M	18.22M	5.9M	26.59M	37.43M	36.66M	9.77M
Depreciation & Amortization	1.69M	1.73M	1.51M	1.73M	3.38M	3.28M	3.58M	3.37M	3.62M	3.77M
Deferred Taxes	-966K	-1.1M	3.91M	1.28M	276K	-3.52M	1.7M	-1.96M	-191K	-469K
Other Non-Cash Items	2.19M	4.36M	-211K	1.46M	-2.63M	8.77M	-2.92M	3.8M	-2.02M	21.15M
Working Capital Changes	180K	-1.15M	615K	-3.22M	-13.63M	-17.72M	3.78M	37.67M	-9.23M	-7.29M
Cash from Investing+	-193.55M	-291.69M	-194.46M	-74.61M	18.69M	-21.94M	-270.02M	-811.16M	-48.3M	-33.96M
Purchase of Investments	0	-117.32M	-75.31M	-26.38M	-12.31M	-20.67M	-33.59M	-37.23M	-9.95M	-31.19M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-217.74M	-227.64M	-183.1M	-66.87M	182K	-21.57M	-271.07M	-781.64M	-41.39M	-17.24M
Cash from Financing+	220.44M	282.08M	148.27M	62.02M	-25.38M	355M	170.55M	739.49M	-70.15M	42.39M
Dividends Paid	-501K	-1.66M	-2.15M	-3.76M	-4.08M	-4.39M	-5.03M	-6.19M	-6.24M	-6.28M
Share Repurchases	0	0	0	0	-988K	-1.04M	-5.08M	-5.54M	0	-2.14M
Stock Issued	3.78M	200K	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K	0	0
Other Financing	212.14M	243.54M	111.42M	104.78M	-10.31M	335.43M	296.74M	676.87M	-63.91M	50.81M
Net Change in Cash+	40.04M	7.76M	-25.62M	7.38M	-61K	331.55M	-64.92M	11M	-86.52M	38.37M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	48.56M	88.6M	96.36M	70.73M	78.11M	78.05M	409.6M	344.68M	355.68M	269.16M
Cash at End	88.6M	96.36M	70.73M	78.11M	78.05M	409.6M	344.68M	355.68M	269.16M	307.52M
Interest Paid	7.54M	11.79M	16.58M	18.66M	23.94M	23.04M	14.01M	17.79M	86.04M	108.71M
Income Taxes Paid	6.14M	8.58M	8.02M	3.69M	2.89M	4.03M	5.09M	11.52M	12.1M	5.38M
Free Cash Flow+	12.21M	8.97M	18.7M	16.63M	5.99M	1.82M	38.81M	77.71M	29.88M	29.32M
FCF Growth %	0.71%	-0.27%	1.08%	-0.11%	-0.64%	-0.7%	20.27%	1%	-0.62%	-0.02%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.92%	8.9%	9.01%	10.4%	10.22%	3.29%	14.04%	17%	14.54%	3.64%
Return on Assets (ROA)	0.74%	0.83%	0.81%	0.95%	0.97%	0.29%	1.13%	1.31%	1.13%	0.3%
Net Interest Margin	3.22%	3.01%	3.03%	3.01%	2.86%	2.43%	2.76%	2.91%	2.94%	2.55%
Efficiency Ratio	53.78%	46.4%	42.89%	42.44%	40.4%	53.27%	45.66%	36.67%	26.07%	26.08%
Equity / Assets	9.9%	8.96%	8.96%	9.3%	9.69%	7.84%	8.22%	7.33%	8.26%	8.28%
Book Value / Share	18.45	19.48	20.99	22.4	23.43	22.79	26.02	31.21	34.75	34.96
NII Growth	35.15%	14.73%	10.74%	3.61%	-4.55%	2%	23.8%	39.56%	-0.29%	-11.84%
Dividend Payout	4.16%	13.45%	15.54%	21.56%	22.39%	74.34%	18.9%	16.54%	17.02%	64.31%

Revenue by Segment

	2018	2019
Service Charges and Fees	1.09M	1M
Service Charges and Fees Growth	-	-8.26%
Gain 9Loss) From Foreclosed Real Estate	-	-
Gain 9Loss) From Foreclosed Real Estate Growth	-	-

Frequently Asked Questions

Valuation & Price

Bankwell Financial Group, Inc. (BWFG) has a price-to-earnings (P/E) ratio of 39.1x. This suggests investors expect higher future growth.

Growth & Financials

Bankwell Financial Group, Inc. (BWFG) grew revenue by 1.2% over the past year. Growth has been modest.

Yes, Bankwell Financial Group, Inc. (BWFG) is profitable, generating $29.0M in net income for fiscal year 2024 (5.0% net margin).

Dividend & Returns

Yes, Bankwell Financial Group, Inc. (BWFG) pays a dividend with a yield of 1.69%. This makes it attractive for income-focused investors.

Bankwell Financial Group, Inc. (BWFG) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.

Industry Metrics

Bankwell Financial Group, Inc. (BWFG) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.

Bankwell Financial Group, Inc. (BWFG) has an efficiency ratio of 26.1%. This is excellent, indicating strong cost control.

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