Business

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

NEW CANAAN, Conn., January 29, 2026--Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $9.1 million, or $1.15 per share for the fourth quarter of 2025, versus $10.1 million, or $1.27 per share, for the third quarter of 2025. The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 20, 2026 to shareholders of record on February 10, 2026.

Bankwell Financial Group, Inc.January 29, 202611
Bankwell Financial Group Reports Operating Results for the Fourth Quarter, Declares First Quarter Dividend

About this update from Bankwell Financial Group, Inc.

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The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 20, 2026 to shareholders of record on February 10, 2026.","length":418,"tagName":"p"},{"type":"text","content":"Reported fourth quarter of 2025 GAAP net income reflects $1.5 million of one-time income tax expense related to adjustments to the income tax provision, primarily due to the finalization of state tax filings and changes in estimated tax positions associated with the Company’s expanded state-level footprint. These adjustments relate to both current- and prior‑year tax estimates.","length":380,"tagName":"p"},{"type":"text","content":"Reported GAAP net income of $9.1 million, or $10.7 million on an operating basis (1) , for the fourth quarter of 2025.","length":116,"tagName":"p"},{"type":"text","content":"Reported diluted earnings per share was $1.15, or $1.36 on an operating basis (1) , for the fourth quarter of 2025.","length":113,"tagName":"p"},{"type":"text","content":"Reported return on average assets was 1.11%, or 1.29% on an operating basis (1) , for the fourth quarter of 2025.","length":111,"tagName":"p"},{"type":"text","content":"Reported return on average tangible shareholders' equity was 12.31%, or 14.32% on an operating basis (1) , for the fourth quarter of 2025.","length":140,"tagName":"p"},{"type":"text","content":" Discussion of Outlook; Bankwell Financial Group Chief Executive Officer, Christopher R. Gruseke: ","length":96,"tagName":"p"},{"type":"text","content":""We finished the year in strong fashion, reporting operating net income of $1.36 per share for the 4th quarter and Pre-tax, pre-provision net revenue return on average assets of 1.80%. GAAP Net Income of $1.15 per share for the quarter includes a one-time adjustment for multiple years’ state level tax provisioning outside of our home state of Connecticut.","length":362,"tagName":"p"},{"type":"text","content":"We entered the year with a clear set of priorities: strengthen credit, improve the funding mix, build non-interest income, generate high‑quality growth, and embrace an innovative mindset as we continue to invest in our people and in technology and I’m pleased to say that we delivered on each of these priorities.","length":313,"tagName":"p"},{"type":"text","content":"Building on the work accomplished this year we are pleased to provide the following guidance for 2026:","length":102,"tagName":"p"},{"type":"text","content":"We expect loan growth of 4 to 5 percent. We anticipate net interest income in the range of $111 to $112 million. We also expect non-interest income to increase to approximately $11 to $12 million. Regarding expenses, we estimate total non-interest expense of $64 to $65 million, which incorporates a prudent level of ongoing investment in our people, infrastructure, and operational capabilities. We are confident that our increased investments will continue to provide further operating leverage; our guidance yields an efficiency ratio of approximately 51% to 53%, versus 54.1% in 2025."","length":594,"tagName":"p"},{"type":"readMore"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;text-align:left;vertical-align:bottom;","val":[{"type":"text","content":"(1)","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:5.0px;padding-left:0.0px;","val":[{"type":"text","content":"Non-GAAP Financial Measure, refer to the "Non-GAAP Financial Measures" section of this document for additional detail.","length":128,"tagName":"p","attribs":{}}]}]}],"length":131},{"type":"text","content":" Key Points for Fourth Quarter and Bankwell’s Outlook ","length":52,"tagName":"p"},{"type":"text","content":" Credit Quality Improves Amid Solid Loan Growth. 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