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BWFG

Bankwell Financial Group, Inc.

BWFG

Bankwell Financial Group, Inc. • NASDAQ
$45.90 ▼ -0.17% (-0.08)
Market Cap $361.57 M
52w High $48.59
52w Low $26.39
Dividend Yield 0.80%
P/E 12.54
Volume 12.89K
Outstanding Shares 7.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $53.086M ▲ $13.62M ▼ $10.078M ▲ 18.984% ▲ $1.3 ▲ $14.592M ▲
Q2-2025 $50.661M ▲ $14.546M ▲ $9.088M ▲ 17.939% ▲ $1.16 ▲ $12.816M ▲
Q1-2025 $49.982M ▲ $14.141M ▲ $6.888M ▲ 13.781% ▲ $0.88 ▲ $9.941M ▲
Q4-2024 $48.807M ▼ $12.644M ▼ $2.963M ▲ 6.071% ▲ $0.37 ▲ $5.031M ▲
Q3-2024 $49.347M $12.865M $1.926M 3.903% $0.24 $3.646M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $309.516M ▼ $3.244B ▲ $2.951B ▼ $292.791M ▲
Q2-2025 $316.186M ▲ $3.237B ▲ $2.953B ▲ $283.29M ▲
Q1-2025 $313.797M ▼ $3.184B ▼ $2.909B ▼ $275.214M ▲
Q4-2024 $325.266M ▼ $3.268B ▲ $2.998B ▲ $270.52M ▲
Q3-2024 $384.695M $3.161B $2.893B $267.926M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $10.078M ▲ $10.33M ▲ $-34.003M ▼ $-3.431M ▼ $-27.104M ▼ $9.926M ▲
Q2-2025 $9.088M ▲ $6.471M ▲ $-30.785M ▼ $41.85M ▲ $17.536M ▲ $6.093M ▲
Q1-2025 $6.888M ▲ $3.925M ▼ $83.089M ▲ $-89.61M ▼ $-2.596M ▼ $3.828M ▼
Q4-2024 $2.963M ▲ $14.315M ▲ $-95.963M ▼ $97.835M ▲ $16.187M ▼ $14.269M ▲
Q3-2024 $1.926M $-557K $16.514M $24M $39.957M $-672K

Revenue by Products

Product Q1-2019Q2-2019Q3-2019Q4-2019
Service Charges and Fees
Service Charges and Fees
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, showing that Bankwell has been able to expand its business base. Profitability, however, tells a more mixed story. Earnings climbed strongly through 2022 and stayed high in 2023, then pulled back meaningfully in 2024 despite higher revenue. That suggests margin pressure, likely from higher funding costs, competitive pricing, or higher credit costs. The result is a bank that is larger and still profitable, but with profits now off their recent peak and less cushion if conditions worsen.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and gradually stronger over time. Total assets have grown meaningfully, reflecting an expanding loan book and franchise. Equity has also increased steadily, which supports capital strength and loss-absorbing capacity. Debt levels are present but not dominant, and cash balances have stayed fairly stable, suggesting a reasonable liquidity position. Overall, the bank appears to be growing in a controlled way rather than stretching its balance sheet aggressively.

Cash Flow

Cash Flow Cash generation has been positive in most years, with a particularly strong year in the middle of the period and more modest but still positive cash flow more recently. Free cash flow closely tracks operating cash flow, since capital spending is very light for a bank. This pattern suggests that the business can fund its needs from internal cash most of the time, but cash generation is not on a smooth upward path and can fluctuate with the credit and rate cycle.

Competitive Edge

Competitive Edge Bankwell operates as a regional community bank with a focus on relationship-driven commercial and private banking. Its edge comes from combining high-touch local decision-making with more advanced digital services than many traditional community banks. Specialized lending in areas like healthcare, insurance agencies, SBA, and USDA loans gives it distinct niches rather than competing purely on price. However, it still faces tough competition from much larger banks and fintech lenders, and its geographic concentration leaves it exposed to local economic conditions.

Innovation and R&D

Innovation and R&D While it doesn’t do traditional R&D, Bankwell has been investing deliberately in technology and product innovation. The partnership with Lendio opens a national small-business lending channel, and the planned digital sub-brand aims to give small and micro-businesses a more modern, tailored online experience. The hiring of innovation and technology leadership, plus expanded treasury tools and private banking capabilities, shows a clear push to modernize. The opportunity is to punch above its weight digitally; the risk is execution and keeping pace with rapidly evolving fintech standards.

Summary

Bankwell today looks like a growing community bank that has successfully scaled up over the last several years but is now navigating a more challenging earnings environment. Revenue and assets have increased, and capital has strengthened, yet profits have pulled back from earlier highs, signaling tighter margins or higher risk costs. The balance sheet appears prudent rather than stretched, and cash flow is generally supportive of ongoing operations. Strategically, the bank is leaning into technology, partnerships, and niche lending to differentiate itself from both old-style community banks and large national players. Its long-term trajectory will depend on how well it converts these innovation efforts into stable, high-quality growth while managing credit risk and funding costs through the interest rate and economic cycle.

NEWS

October 23, 2025 · 8:00 AM UTC

Bankwell Financial Group Reports Operating Results for the Third Quarter, Declares Fourth Quarter Dividend

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October 9, 2025 · 10:00 AM UTC

Bankwell Financial Group, Inc. Announces Date of Third Quarter Earnings Conference Call

Read more