Bankwell Financial Group Inc
NASDAQ:BWFG

  • LAST PRICE
    33.2000
  • TODAY'S CHANGE (%)
    0.7800 (2.4059%)
  • Bid / Lots
    28.3600/ 20
  • Ask / Lots
    34.5000/ 1
  • Open / Previous Close
    32.8000 / 32.4200
  • Day Range
    32.7650
    33.4000
  • 52 Week Range
    22.4700
    33.4000
  • Volume
    11,784

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  • Oct 28, 2024

      Show headlines and story abstract

    • 4:43PM ET on Monday Oct 28, 2024 by MT Newswires
      Companies Mentioned: BWFG
      04:43 PM EDT, 10/28/2024 (MT Newswires) -- ...

    • 4:43PM ET on Monday Oct 28, 2024 by MT Newswires
      Companies Mentioned: BWFG
      04:43 PM EDT, 10/28/2024 (MT Newswires) -- ...

    • 4:42PM ET on Monday Oct 28, 2024 by Dow Jones
      Companies Mentioned: BWFG

    • 4:42PM ET on Monday Oct 28, 2024 by Dow Jones
      Companies Mentioned: BWFG
      --------------------------------- --------------------------------- Average Yield/ Average Yield/ Balance Interest Rate (4) Balance Interest Rate (4) ---------- ---------- --------- ---------- ---------- --------- Assets: Cash and Fed funds sold $ 253,664 $ 3,205 5.03% $ 265,115 $ 3,393 5.08% Securities(1) 147,431 1,390 3.78 127,229 953 3.00 Loans: Commercial real estate 1,905,506 28,288 5.81 1,943,725 28,140 5.67 Residential real estate 47,481 736 6.20 53,966 671 4.97 Construction 156,273 3,070 7.69 209,154 3,908 7.31 Commercial business 512,507 10,783 8.23 539,185 10,394 7.54 Consumer 41,845 719 6.84 44,020 741 6.66 --------- ------ ---- --- --------- ------ ---- --- Total loans 2,663,612 43,596 6.40 2,790,050 43,854 6.15 Federal Home Loan Bank stock 5,655 122 8.32 5,696 115 8.13 --------- ------ ---- --- --------- ------ ---- --- Total earning assets 3,070,362 $ 48,313 6.16% 3,188,090 $ 48,315 5.93% ====== ====== Other assets 90,410 78,089 --------- --------- Total assets $3,160,772 $3,266,179 ========= ========= Liabilities and shareholders' equity: Interest bearing liabilities: NOW $ 94,958 $ 45 0.18% $ 102,149 $ 47 0.18% Money market 832,430 8,597 4.11 922,036 9,064 3.90 Savings 89,463 691 3.07 105,366 817 3.08 Time 1,347,857 16,246 4.79 1,322,074 13,861 4.16 --------- ------ ---- --- --------- ------ ---- --- Total interest bearing deposits 2,364,708 25,579 4.30 2,451,625 23,789 3.85 Borrowed Money 159,349 1,895 4.73 159,103 1,783 4.39 --------- ------ ---- --- --------- ------ ---- --- Total interest bearing liabilities 2,524,057 $ 27,474 4.33% 2,610,728 $ 25,572 3.89% ====== ====== Noninterest bearing deposits 303,213 345,988 Other liabilities 62,602 54,136 --------- --------- Total liabilities 2,889,872 3,010,852 Shareholders' equity 270,900 255,327 --------- --------- Total liabilities and shareholders' equity $3,160,772 $3,266,179 ========= ---------- ========= ---------- Net interest income(2) $ 20,839 $ 22,743 ====== ====== Interest rate spread 1.83% 2.04% Net interest margin(3) 2.72% 2.85% (1) Average balances and yields for securities are based on amortized cost. (2) The adjustment for securities and loans taxable equivalency amounted to $122 thousand and $52 thousand for the quarters ended September 30, 2024 and 2023, respectively. (3) Annualized net interest income as a percentage of earning assets. (4) Yields are calculated using the contractual day count convention for each respective product type. BANKWELL FINANCIAL GROUP, INC. NET INTEREST MARGIN ANALYSIS ON A FULLY TAX EQUIVALENT BASIS - YTD (unaudited) (Dollars in thousands) For the Nine Months Ended ---------------------------------------------------------------- September 30, 2024 September 30, 2023 ------------------------------- ------------------------------- Average Yield/ Average Yield/ Balance Interest Rate (4) Balance Interest Rate (4) ---------- -------- --------- ---------- -------- --------- Assets: Cash and Fed funds sold $ 273,138 $ 10,460 5.12% $ 281,033 $ 9,983 4.75% Securities(1) 139,871 3,592 3.42 128,554 2,864 2.97 Loans: Commercial real estate 1,909,390 84,582 5.82 1,932,549 79,958 5.46 Residential real estate 48,912 2,226 6.07 56,798 1,957 4.59 Construction 158,884 8,913 7.37 194,396 10,582 7.18 Commercial business 517,880 32,097 8.14 546,329 32,073 7.74 Consumer 41,383 2,162 6.98 30,571 1,489 6.51 --------- ------- ---- --- --------- ------- ---- --- Total loans 2,676,449 129,980 6.38 2,760,643 126,059 6.02 Federal Home Loan Bank stock 5,670 358 8.43 5,527 308 7.46 --------- ------- ---- --- --------- ------- ---- --- Total earning assets 3,095,128 $144,390 6.13% 3,175,757 $139,214 5.78% ======= ======= Other assets 92,249 66,342 --------- --------- Total assets $3,187,377 $3,242,099 ========= ========= Liabilities and shareholders' equity: Interest bearing liabilities: NOW $ 97,970 $ 133 0.18% $ 97,741 $ 127 0.17% Money market 849,860 26,294 4.13 910,840 23,532 3.45 Savings 91,135 2,093 3.07 117,984 2,404 2.72 Time 1,319,031 47,097 4.77 1,291,124 35,536 3.68 --------- ------- ---- --- --------- ------- ---- --- Total interest bearing deposits 2,357,996 75,617 4.28 2,417,689 61,599 3.41 Borrowed Money 159,288 5,450 4.57 161,166 5,238 4.29 --------- ------- ---- --- --------- ------- ---- --- Total interest bearing liabilities 2,517,284 $ 81,067 4.30% 2,578,855 $ 66,837 3.47% ======= ---- ======= ---- Noninterest bearing deposits 336,129 374,943 Other liabilities 62,631 40,192 --------- --------- Total liabilities 2,916,044 2,993,990 Shareholders' equity 271,333 248,109 --------- --------- Total liabilities and shareholders' equity $3,187,377 $3,242,099 ========= -------- ========= -------- Net interest income(2) $ 63,323 $ 72,377 ======= ======= Interest rate spread 1.83% 2.31% Net interest margin(3) 2.73% 3.04% (1) Average balances and yields for securities are based on amortized cost. (2) The adjustment for securities and loans taxable equivalency amounted to $240 thousand and $154 thousand for the nine months ended September 30, 2024 and 2023, respectively. (3) Annualized net interest income as a percentage of earning assets. (4) Yields are calculated using the contractual day count convention for each respective product type.

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