The bank maintains a conservative capital structure with an equity-to-assets ratio of 0.09, supporting a total asset base that has expanded to $3.4 billion as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'04 | Dec'03 |
|---|
| Cash & Short Term Investments | 1.11B | 227.17M | 325.27M | 277.31M | 448.59M | 381.8M | 493.94M | 160.49M | 168.56M | 162.73M | 183.78M | 90.14M | 113.57M | 110.61M | 69.98M | 0 | 0 | 0 | 0 | 0 | 2.62M | 1.37M |
| Cash & Due from Banks | 208.9M | 224.92M | 293.55M | 267.52M | 344.93M | 291.6M | 405.34M | 78.05M | 75.41M | 70.55M | 96.03M | 49.56M | 48.56M | 82.01M | 28.93M | 0 | 0 | 0 | 0 | 0 | 2.62M | 1.37M |
| Short Term Investments | 2.25M | 2.25M | 31.71M | 9.78M | 103.66M | 90.2M | 88.61M | 82.44M | 93.15M | 92.19M | 87.75M | 40.58M | 65.01M | 28.6M | 41.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 2.25M | 2.25M | 2.82B | 2.82B | 2.78B | 2B | 1.74B | 1.7B | 1.7B | 1.64B | 1.45B | 1.18B | 993.03M | 664.34M | 567.2M | 4.58M | 6.91M | 3.4M | 0 | 10.52M | 93.26M | 60.38M |
| Investments Growth % | -196.25% | -99.92% | 0.17% | 1.48% | 38.71% | 15.02% | 2.25% | -0.05% | 4.13% | 12.9% | 22.8% | 18.88% | 49.48% | 17.13% | 12284.37% | -33.74% | 103.11% | - | -100% | -88.72% | 54.45% | - |
| Long-Term Investments | 5.52B | 0 | 2.79B | 2.81B | 2.67B | 1.91B | 1.65B | 1.62B | 1.61B | 1.54B | 1.36B | 1.14B | 928.02M | 635.75M | 526.15M | 4.58M | 6.91M | 3.4M | 0 | 10.52M | 93.26M | 60.38M |
| Accounts Receivables | 2.85B | 2.82B | 14.54M | 14.86M | 13.07M | 7.51M | 6.58M | 5.96M | 6.38M | 5.91M | 4.96M | 4.07M | 3.32M | 2.36M | 2.11M | 0 | 0 | 0 | 0 | 0 | 395.8K | 222.51K |
| Goodwill & Intangibles | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.67M | 2.8M | 2.88M | 2.97M | 3.09M | 3.24M | 3.44M | 481K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 2.59M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 76K | 214K | 290K | 382K | 501K | 652K | 848K | 481K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 20.95M | 21.58M | 23.86M | 27.02M | 27.2M | 25.59M | 21.76M | 28.52M | 19.77M | 18.2M | 17.84M | 11.16M | 11.91M | 7.06M | 2.52M | 2.45M | 2.89M | 1.91M | 2.03M | 1.2M | 1.3M | 1.29M |
| Other Assets | 0 | 276.58M | 99.79M | 74.44M | 78.72M | 118.21M | 64.48M | 57.76M | 60.66M | 57.4M | 48.2M | 73.44M | 32.12M | 17.52M | 6.46M | 458.45M | 342.42M | 291.72M | 228.67M | 163.53M | 2.51M | 12.53M |
| Total Current Assets | 3.06B | 3.05B | 339.8M | 292.17M | 461.66M | 389.31M | 500.52M | 166.45M | 174.94M | 168.64M | 188.74M | 94.21M | 116.89M | 112.97M | 72.09M | 9.41M | 41.02M | 29.08M | 14.7M | 15.06M | 3.02M | 1.6M |
| Total Non-Current Assets | 34.97M | 312.11M | 2.93B | 2.92B | 2.79B | 2.07B | 1.75B | 1.72B | 1.7B | 1.63B | 1.44B | 1.24B | 982.64M | 666.65M | 537.92M | 468.63M | 354.87M | 299.16M | 232.34M | 175.84M | 97.07M | 74.2M |
| Total Assets | 3.37B | 3.36B | 3.27B | 3.22B | 3.25B | 2.46B | 2.25B | 1.88B | 1.87B | 1.8B | 1.63B | 1.33B | 1.1B | 779.62M | 610.02M | 478.03M | 395.89M | 328.24M | 247.04M | 190.91M | 100.09M | 75.79M |
| Asset Growth % | 14.41% | 2.8% | 1.65% | -1.14% | 32.41% | 8.99% | 19.74% | 0.45% | 4.29% | 10.29% | 22.44% | 20.99% | 41.03% | 27.8% | 27.61% | 20.75% | 20.61% | 32.87% | 29.4% | 90.73% | 32.06% | - |
| Return on Assets (ROA) | 1.2% | 1.06% | 0.3% | 1.13% | 1.31% | 1.13% | 0.29% | 0.97% | 0.95% | 0.81% | 0.83% | 0.74% | 0.49% | 0.74% | 0.22% | 0.5% | 0.14% | -0.29% | -0.2% | 0.47% | -0.43% | -1.15% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 129.76M | 179.7M | 159.45M | 159.21M | 158.96M | 84.44M | 200.26M | 175.21M | 185.16M | 224.1M | 185.05M | 145M | 129M | 44M | 91M | 58M | 44M | 46M | 43M | 15M | 16.5M | 0 |
| Net Debt | -79.14M | -45.22M | -134.1M | -108.32M | -185.97M | -207.16M | -205.08M | 97.16M | 109.74M | 153.56M | 89.03M | 95.44M | 80.44M | -38.01M | 62.07M | 58M | 44M | 46M | 43M | 15M | 13.88M | -1.38M |
| Long-Term Debt | 69.76M | 69.7M | 159.45M | 159.21M | 158.96M | 84.44M | 200.26M | 175.21M | 185.16M | 224.1M | 185.05M | 145M | 129M | 44M | 91M | 20M | 29M | 32M | 20M | 15M | 16.5M | 0 |
| Short-Term Debt | 60M | 110M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38M | 15M | 14M | 23M | 0 | 0 | 0 |
| Other Liabilities | 2.93B | 1.38B | 50.94M | 53.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 185.19M | 191.14M | 117.07M | 92.4M | 67.36M | 504K | 314K |
| Total Current Liabilities | 60M | 1.61B | 2.79B | 2.74B | 2.86B | 2.17B | 1.88B | 1.52B | 1.51B | 1.41B | 1.3B | 1.05B | 841.32M | 666.13M | 467.48M | 222.97M | 135.22M | 143.4M | 103.07M | 78.31M | 73.69M | 65.71M |
| Total Non-Current Liabilities | 3B | 1.45B | 210.39M | 212.97M | 158.96M | 84.44M | 200.26M | 175.21M | 185.16M | 224.1M | 185.05M | 145M | 129M | 44M | 91M | 205.87M | 220.32M | 149.15M | 112.4M | 82.36M | 17M | 314K |
| Total Liabilities | 3.06B | 3.06B | 3B | 2.95B | 3.01B | 2.25B | 2.08B | 1.7B | 1.7B | 1.64B | 1.48B | 1.2B | 970.32M | 710.13M | 558.48M | 428.84M | 355.54M | 292.55M | 215.46M | 160.67M | 90.69M | 66.03M |
| Total Equity | 311.87M | 301.49M | 270.52M | 265.75M | 238.47M | 201.99M | 176.6M | 182.4M | 174.2M | 161.03M | 145.9M | 131.77M | 129.21M | 69.48M | 51.53M | 49.19M | 40.35M | 35.7M | 31.58M | 30.23M | 9.4M | 9.77M |
| Equity Growth % | 40.16% | 11.45% | 1.79% | 11.44% | 18.06% | 14.37% | -3.18% | 4.71% | 8.18% | 10.37% | 10.72% | 1.98% | 85.95% | 34.83% | 4.77% | 21.89% | 13.05% | 13.04% | 4.44% | 221.66% | -3.76% | - |
| Equity / Assets (Capital Ratio) | 9.24% | 8.97% | 8.28% | 8.26% | 7.33% | 8.22% | 7.84% | 9.69% | 9.3% | 8.96% | 8.96% | 9.9% | 11.75% | 8.91% | 8.45% | 10.29% | 10.19% | 10.87% | 12.78% | 15.84% | 9.39% | 12.89% |
| Return on Equity (ROE) | 13.31% | 12.31% | 3.64% | 14.54% | 17% | 14.04% | 3.29% | 10.22% | 10.4% | 9.01% | 8.9% | 6.92% | 4.6% | 8.53% | 2.41% | 4.92% | 1.33% | -2.47% | -1.43% | 3.45% | -3.97% | -8.91% |
| Book Value per Share | 39.98 | 38.52 | 34.96 | 34.75 | 31.21 | 26.02 | 22.79 | 23.43 | 22.40 | 20.99 | 19.48 | 18.45 | 23.05 | 10.56 | 7.83 | 7.48 | 15.59 | 14.20 | 12.83 | 12.82 | 6.31 | 7.48 |
| Tangible BV per Share | 39.65 | 38.19 | 34.63 | 34.41 | 30.87 | 25.69 | 22.45 | 23.07 | 22.03 | 20.61 | 19.06 | 18.00 | 22.44 | 10.49 | 7.83 | 7.48 | 15.59 | 14.20 | 12.83 | 12.82 | 6.31 | 7.48 |
| Common Stock | 121.06M | 120.12M | 119.11M | 118.25M | 115.02M | 118.15M | 121.34M | 120.59M | 120.53M | 118.3M | 115.35M | 112.58M | 107.27M | 52.1M | 38.12M | 37.55M | 42.32M | 32.97M | 32.77M | 30.89M | 1.31M | 1.31M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.62M | 11.61M |
| Retained Earnings | 191.28M | 181.59M | 152.66M | 149.17M | 123.64M | 92.4M | 70.84M | 69.32M | 54.71M | 41.33M | 29.65M | 18.96M | 10.43M | 5.98M | 926K | -156K | -2.15M | -2.4M | -1.12M | -680K | -3.56M | -3.18M |
| Accumulated OCI | -475K | -216K | -1.24M | -1.66M | -189K | -8.56M | -15.57M | -7.52M | -1.04M | 1.69M | 890K | 227K | 531K | 424K | 1.51M | 810K | 185K | 88K | -73K | 25K | 24.07K | 30.71K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.98M | 10.98M | 10.98M | 10.98M | 0 | 5.04M | 0 | 0 | 0 | 0 |
CRE concentration and funding
According to recent financial disclosures, Bankwell Financial Group has grown its total assets from $3.1 billion in 2024Q2 to $3.4 billion by 2026Q1, indicating a steady expansion of the balance sheet that appears driven by core lending activities rather than inorganic acquisition strategies.
The consistent growth in total assets suggests that the bank is successfully capturing market share within its Fairfield County niche. Investors should monitor whether this asset growth is being achieved through prudent underwriting or if the bank is relaxing credit standards to maintain its expansion trajectory.
As reported in financial statements, the equity-to-assets ratio has remained anchored at approximately 0.09 over the last three quarters, suggesting that management is maintaining a stable capital buffer to support its current risk-weighted asset profile in a competitive regional banking environment.
While the current capital ratio appears adequate for a community-focused institution, the lack of significant improvement in the equity-to-assets ratio may limit the bank's capacity for aggressive balance sheet expansion. This positioning warrants further investigation into whether management intends to prioritize capital preservation or leverage the current base to drive higher returns on equity.
Based on the reported figures, cash and cash equivalents fluctuated between $208.9 million and $314.0 million over the last ten quarters, reflecting a tactical approach to liquidity management that balances the need for immediate funding against the desire to deploy capital into higher-yielding assets.
The bank's liquidity profile appears to be highly sensitive to the timing of commercial loan originations and deposit inflows. The reliance on cash reserves as a primary liquidity buffer suggests that the bank may be vulnerable to sudden shifts in deposit stability, necessitating close observation of its contingent funding sources.
As indicated by the bank's historical performance and sector focus, the heavy concentration in commercial real estate remains a primary risk factor, as evidenced by the volatility in provision for credit losses which swung from $8.2 million in 2024Q2 to a $1.0 million benefit in 2026Q1.
The significant swings in provisioning suggest that the bank's earnings are highly susceptible to management's internal assessments of credit risk within its CRE portfolio. This volatility may mask underlying asset quality issues, and investors should be wary of potential future impairments if the regional real estate market experiences a sustained downturn.
Quick answers to the most common questions about buying BWFG stock.
As of 2025, Bankwell Financial Group, Inc. (BWFG) had total assets of $3.36B including $3.05B in current assets.
Bankwell Financial Group, Inc. (BWFG) carries total debt of $179.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Bankwell Financial Group, Inc. (BWFG) has total shareholders' equity (book value) of $301.5M ($38.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Bankwell Financial Group, Inc. (BWFG) reported a current ratio of 1.89x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.