Bankwell Financial Group(US:BWFG)2025-04-24 19:10Financial Performance - Fully diluted EPS reached $0.87, an increase of 81% compared to the previous year's quarter, driven by improved net interest margin and lower provision expense[9] - PPNR increased by 11% compared to the last quarter, reaching $9.4 million, or $1.22 per share[9] - Net Interest Income was $22.1 million, benefiting from a 12 bps decrease in deposit costs compared to the last quarter[9] - Non-interest income increased by 56% compared to the last quarter, driven by $442 thousand of SBA gain-on-sale in Q1[9] Balance Sheet & Capital - The NPA ratio decreased by 105 basis points to 0.83% due to dispositions of $27.1 million in CRE Multifamily NPL and $8.3 million in OREO assets[8] - Brokered deposits decreased by $81 million compared to the last quarter, while core deposits increased by $43 million, including $28 million growth in non-interest bearing deposits[8] - Tangible book value increased by $0.47 compared to the last quarter and $0.99 compared to the previous year's quarter, reaching $34.56[9] - Consolidated CET1 ratio was 10.04%, and the Bank Total Capital ratio was 13.22%[9] Loan Portfolio - Loan balances decreased by $61 million compared to the last quarter, negatively impacted by elevated payoffs[9] - Non-performing loans decreased to 1% of total loans[29] - CRE concentration decreased to 362%[27]