Bankwell Financial Group, Inc. · NASDAQ:BWFG
Bankwell Financial — Q3 2017 Earnings Presentation
17 slides from Bankwell Financial's earnings presentation, Oct 18, 2017
Slide 1: Bankwell Financial Group 3Q'17 Investor Presentation
Bankwell Financial Group3Q’17 Investor Presentation
Slide 2: Safe Harbor
Safe Harbor This presentation may contain certain forward-looking statements about the Company. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include word
Slide 3: Bankwell Profile
Bankwell Profile $1.80B asset Connecticut-based bank with key focus on CRE and C&I lending9 existing branches in Fairfield & New Haven Counties… actively pursuing core market expansionContinued strong performance in 3Q’17:10.27% Return on Equity YTD0.92% Return on Avg Assets YTD$20.41 Tangible Book
Slide 4: Management Team
Management Team Name Years Experience Selected Professional Biography At Bankwell Christopher GrusekePresident & CEO(since 2015) 25+ Founding investor of Bankwell’s precursor, Bank of New Canaan, member of BoD and ALCO Committee 2009 to 201220 year Investment Banking career focused on financial inst
Slide 5: Bankwell: A Growth Story
Bankwell : A Growth Story Bankwell is one of the fastest growing and most profitable community banks in Connecticut. Named “One of the Top 100 Community Banks Under $10 billion" in 2016 1Named a 2017 Sandler O’Neill and Partners “Sm-All Star” 2 March 21, 2017 report issued by S&P Global Market Intel
Slide 6: Why Bankwell?
Why Bankwell? Consistently strong performer in highly attractive markets 1 as of June 30th, 2017
Slide 7: Financial Highlights
Financial Highlights Dollars in thousands, except per share data 2014 2015 2016 1Q’17 2Q’17 3Q’17 Total assets $1,099,531 $1,330,372 $1,628,919 $1,672,242 $1,755,805 $1,804,938 Loans, net $915,981 $1,129,748 $1,343,895 $1,406,407 $1,463,240 $1,500,574 Loans to deposits 110.7% 109.1% 105.6% 107.2% 10
Slide 8: Consolidated Statement of Income
Consolidated Statement of Income 3Q’17 2Q’17 3Q’16Total Interest Income $18.3 $17.7 $15.6Total Interest Expense $4.5 $4.0 $3.1Net Interest Income $13.9 $13.6 $12.5Provision for Loan Losses $0.4 $0.9 $1.2Net Interest Income after Provision $13.5 $12.7 $11.3Non Interest Income $0.8 $1.0 $0.7Non Intere
Slide 9: 3Q'17 Highlights
3Q’17 Highlights Record net income of $4.3MM, or $0.55 per share for the 3Q’17, versus $3.1MM or $0.41 per share for the same period in 2016, a 36% increaseThe Company's Board of Directors declared a $0.07 per share cash dividendPerformance driven by strong organic loan growth, record gross loan bal
Slide 10: Financial Performance Trends
Financial Performance Trends $MMs Year-to-date ROE of 10.27%Efficiently generating strong revenue & net income growth Net IncomeCAGR 46% RevenueCAGR 19%
Slide 11: Loan Portfolio
Loan Portfolio CAGR 20% $1,429 $MMs $1,486 $1,524
Slide 12: Loan Portfolio Concentration
Loan Portfolio Concentration Commercial Real Estate Total Loan Portfolio Consumer/ Other 1 1 Includes Owner Occupied CRE September 2017 Product & Property Type Diversification Ongoing stratification and in-depth monitoring of concentration limits
Slide 13: Loan Portfolio Concentration: CRE
Loan Portfolio Concentration: CRE Geography Distribution Measured Approach To ExpansionFollowing Existing Customers To New Locations Acquired The Wilton Bank.Acquired Quinnipiac Bank & Trust. (1) (2) CRE to Risk Based Capital Ratio Proven track record as CRE LenderStrong risk management practices in
Slide 14: Asset Quality
Asset Quality 1 Negative values represent Net Recoveries2 Non-performing Assets to Tangible Equity and Loan Loss Reserves NPL to Total Loans Texas Ratio 2 NPL $3.36 $3.79 $2.94 $4.24Net Charge Offs $(0.33) $(0.08) $0.10 $0.25 $MMs 1 Allowance for Loan Loss NPA to Total Assets Uncompromising focus on
Slide 15: Deposits
Deposits CAGR 21% $MMs $835 $1,047 $1,289 $1,327 $1,414 2017 Priorities Investment in footprint expansion & deposit technologyImprove deposit mixSpecific focus on reducing on-balance sheet Wholesale funding2 as a % of assets 1 As of 10-16-2017, Deposits are at $1,419MM2 Wholesale funding comprised o
Slide 16: Deposit Initiatives
Deposit Initiatives Branch expansion in existing footprint scheduled for early 2018Ongoing expansion of Treasury Management offeringsAdded IOLTA/escrow sub-account functionality, targeting law firm & property management accountsLaunching Commercial Card / P-card offeringLaunching Merchant Services p
Slide 17: Thank You & Questions
Ke Thank You & Questions
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