Steve Moss
Analyst, Raymond James
Replay available
Bankwell Financial Group, Inc. (BWFG) Q4 2025 Earnings Call
Bankwell Financial Group, Inc. (NASDAQ: BWFG) Q4 2025 earnings conference call, held 2026-01-29. Replay captured from the company's public earnings webcast.
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Freddie Strickland
Analyst, HUS Group
David Conrad
Analyst, KBW
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Watch the replay and follow the connected company analysis, news, and investor updates for Bankwell Financial Group, Inc..
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:04.337 We appreciate your interest in our performance and this opportunity to discuss our results 00:00:04.337 -- 00:00:10.004 with you. Our fourth quarter gap net income was $9.1 million, or $1.15 00:00:10.004 -- 00:00:15.371 per share, which includes a $1.5 million one-time adjustment 00:00:15.371 -- 00:00:20.758 to the income tax provision associated with various state tax filings 00:00:20.758 -- 00:00:25.785 and changes in estimated tax positions. This adjustment relates to both current 00:00:25.785 -- 00:00:28.583 and prior year tax estimates. 00:00:28.583 -- 00:00:33.750 Including this one-time adjustment, operating income for the quarter was $10.7 million, 00:00:33.750 -- 00:00:35.292 or $1.36 00:00:35.292 -- 00:00:38.877 per share on an operating basis. 00:00:38.877 -- 00:00:44.185 A reconciliation of GAAP and operating results is included in our materials, and we encourage 00:00:44.185 -- 00:00:47.189 you to review both metrics together. 00:00:47.189 -- 00:00:51.993 Courtney will walk you through these results in more detail in a moment. 00:00:52.056 -- 00:00:57.103 Pre-provision net revenue return on average assets was 180 basis points for the 00:00:57.103 -- 00:01:02.145 quarter. an increase of 10 basis points from the prior quarter and a 75 basis point 00:01:02.145 -- 00:01:06.307 increase over Q4 of 2024. This 00:01:06.369 -- 00:01:11.074 improvement reflects continued expansion of our net interest margin as well as strong 00:01:11.074 -- 00:01:15.659 growth in non-interest income driven primarily by our SBA division. 00:01:15.659 -- 00:01:19.983 We also made further progress in reducing our non-performing asset balances during the 00:01:19.983 -- 00:01:25.283 quarter and maintain a constructive outlook on credit quality head...