UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________to________ Commission File Number: 001-36448 Bankwell Financial Group, Inc. (Exact Name of Registrant as specified in its Charter) incorporation or organi ...

January 22, 2025 Fourth Quarter 2024 Investor Presentation Forward Looking Statement Important note regarding forward-looking statements: Statements made in this presentation which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such ...

Bankwell Financial Group, Inc. (NASDAQ:BWFG) Q4 2024 Earnings Call Transcript January 23, 2025 10:00 AM ET Company Participants Chris Gruseke - President and Chief Executive Officer Courtney Sacchetti - Chief Financial Officer Matt McNeill - Chief Banking Officer Conference Call Participants Christopher O'Connell - KBW Operator Good morning, ladies and gentlemen. And thank you for standing by. My name is Kelvin and I will be your conference operator today. At this time, I would like to welcome everyone to t ...

BANKWELL FINANCIAL GROUP REPORTS OPERATING RESULTS FOR THE FOURTH QUARTER, DECLARES FIRST QUARTER DIVIDEND New Canaan, CT – January 22, 2025 – Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $2.5 million, or $0.32 per share for the fourth quarter of 2024, versus $1.9 million, or $0.24 per share, for the third quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash dividend, payable February 21, 2025 to shareholders of record on February 11, 2025. Pre-tax, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________to________ Commission File Number: 001-36448 Bankwell Financial Group, Inc. (Exact Name of Registrant as specified in its Charter) Connecticut 20 ...

Bankwell Financial Group, Inc. (NASDAQ:BWFG) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET Company Participants Courtney Sacchetti - CFO Chris Gruseke - President & CEO Matt McNeill - Chief Banking Officer Ryan Hildebrand - Chief Innovation Officer Conference Call Participants Christopher O'Connell - KBW Operator Good morning. My name is Audra and I will be your conference operator today. At this time, I would like to welcome everyone to the Bankwell Financial Group Inc. Third Quarter 2024 ...

BANKWELL FINANCIAL GROUP REPORTS OPERATING RESULTS FOR THE THIRD QUARTER, DECLARES FOURTH QUARTER DIVIDEND, AND ANNOUNCES SHARE REPURCHASE PLAN New Canaan, CT – October 28, 2024 – Bankwell Financial Group, Inc. (NASDAQ: BWFG), a leading commercial bank with a growing digital focus, reported GAAP net income of $1.9 million, or $0.24 per share for the third quarter of 2024, versus $1.1 million, or $0.14 per share, for the second quarter of 2024. The Company's Board of Directors declared a $0.20 per share cash ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________to________ Commission File Number: 001-36448 Bankwell Financial Group, Inc. (Exact Name of Registrant as specified in its Charter) Connecticut 20-8251 ...

Financial Performance - Bankwell Financial Group reported GAAP net income of $1.1 million, or $0.14 per share for Q2 2024, a decrease from $8.0 million, or $1.02 per share in Q2 2023[1]. - Total revenues for Q2 2024 were $21.9 million, compared to $25.4 million in Q2 2023, primarily due to increased interest expenses and lower gains from loan sales[14]. - The company reported a net income of $1,118 million for the quarter ended June 30, 2024, a significant drop from $3,763 million in the previous quarter[59]. - Net income for the quarter ended June 30, 2024, was $1,118 million, a decrease from $7,983 million in the same quarter last year[71]. - Basic earnings per common share for the quarter ended June 30, 2024, was $0.14, down from $0.48 in the previous quarter, indicating lower earnings per share[59]. Revenue and Income Analysis - Pre-tax, pre-provision net revenue (PPNR) was $9.7 million for Q2 2024, down from $12.8 million in Q2 2023[1]. - Total noninterest income for the quarter ended June 30, 2024, was $683 million, a decrease of 25.4% compared to the previous quarter and a 51.2% decrease year-over-year[53]. - For the six months ended June 30, 2024, total noninterest income was $1.598 billion, down 45.4% from $2.927 billion in the same period last year[53]. - Noninterest income decreased by $0.7 million for the quarter ended June 30, 2024, compared to the same quarter in 2023, primarily due to lower gains from fewer SBA loan sales[73]. Loan and Credit Quality - The provision for credit losses was $8.2 million for Q2 2024, with $6.6 million related to a specific reserve on an $8.7 million commercial business credit[29]. - Nonaccrual loans increased by $7.0 million to $56.2 million as of June 30, 2024, primarily due to a $13.9 million commercial real estate loan[41]. - Nonperforming loans as a percentage of total loans increased to 2.12% as of June 30, 2024, from 1.74% in the previous quarter, signaling potential asset quality concerns[62]. - The company reported total nonaccrual loans of $56,205 million as of June 30, 2024, an increase from $46,543 million in the previous quarter, raising concerns about loan performance[62]. - Provision for credit losses was $8,183 million for the quarter ended June 30, 2024, compared to a credit of $960 million in the same quarter last year[71]. Asset and Liability Management - Total assets decreased to $3.14 billion as of June 30, 2024, down from $3.22 billion at December 31, 2023, representing a decline of 3.5%[37]. - Total gross loans decreased by $61.4 million, or 2.3%, to $2.7 billion compared to December 31, 2023[29]. - Deposits totaled $2.7 billion, a decrease of $74.4 million, or 2.7%, compared to December 31, 2023[34]. - Total loans amounted to $2.66 billion, a decrease of $61.4 million, or 2.3%, compared to December 31, 2023[42]. - Total deposits were $2.66 billion at June 30, 2024, a decrease of $74.4 million, or 2.7%, from December 31, 2023[43]. Cost Management and Efficiency - Noninterest expense for the quarter ended June 30, 2024, decreased by $0.4 million to $12.2 million compared to the same quarter in 2023[45]. - Total noninterest expense for the quarter ended June 30, 2024, was $12,245 million, a decrease from $13,297 million in the previous quarter, reflecting cost-cutting measures[59]. - The efficiency ratio improved to 55.9% for the quarter ended June 30, 2024, compared to 60.3% in the previous quarter, indicating better cost management[60]. - The efficiency ratio was adjusted to better reflect operating expenses in relation to core operating revenue, excluding certain one-time items[39]. Dividends and Shareholder Returns - The company declared a cash dividend of $0.20 per share, payable on August 23, 2024[11]. - The dividend payout ratio increased to 142.86% for the quarter ended June 30, 2024, compared to 41.67% in the previous quarter, suggesting a higher distribution of earnings[60]. Future Outlook - The company anticipates continued competitive pressures and economic uncertainties affecting future performance[36].

Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ 2 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | PART I – FINANCIAL INFORMATION | | | | | | Item 1. Financial ...