Bankwell Financial Group, Inc. (BWFG) Financial Statements
Industry: State Commercial Banks
In fiscal 2025, Bankwell Financial reported revenue of $108.3M, up 24.5% from $87.0M the year before. Net income was $35.2M (a 32.5% net margin), or $4.45 per diluted share. Net interest income was $98.9M, and the efficiency ratio (noninterest expense / revenue) was 54.3%. Operating activities generated $28.3M of cash, leaving $27.1M of free cash flow. At fiscal year end, Bankwell Financial held $3.36B in total assets against $3.06B in total liabilities.
Open the full interactive Bankwell Financial financials → Quarterly statements, key ratios, valuation history and price charts.
Bankwell Financial Key Stats
| Share Price | $65.63 |
|---|---|
| Market Cap | $523.8M |
| P/E Ratio | 14.7 |
| Revenue YoY Growth | +24.5% |
| 52-Week Range | $40.06 – $68.57 |
| Shares Outstanding | 7.9 million (basic, 2026 Q2) |
Bankwell Financial Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $54.8M | $67.9M | $94.7M | $94.5M | $83.3M | $98.9M |
| Provision for Credit Losses | $7.6M | -$57,000 | $5.4M | $866,000 | $22.6M | $1.0M |
| Noninterest Income | $2.9M | $5.7M | $3.0M | $4.8M | $3.7M | $9.4M |
| Noninterest Expense | $42.8M | $39.7M | $44.4M | $50.4M | $51.1M | $58.8M |
| Revenue | $57.7M | $73.5M | $97.8M | $99.3M | $87.0M | $108.3M |
| Pre-Tax Income | $7.3M | $33.9M | $48.0M | $48.0M | $13.3M | $48.5M |
| Income Tax | $1.4M | $7.3M | $10.6M | $11.4M | $3.6M | $13.3M |
| Net Income | $5.9M | $26.6M | $37.4M | $36.7M | $9.8M | $35.2M |
| Diluted EPS | $0.75 | $3.36 | $4.79 | $4.67 | $1.23 | $4.45 |
Bankwell Financial Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $28.5M | $30.3M | $30.2M | $32.8M |
| Net Income | $10.1M | $9.1M | $11.3M | $12.4M |
| Diluted EPS | $1.27 | $1.17 | $1.41 | $1.52 |
Bankwell Financial Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Loans (Net) | — | — | $2.65B | $2.69B | $2.67B | $2.80B |
| Total Assets | $2.25B | $2.46B | $3.25B | $3.22B | $3.27B | $3.36B |
| Deposits | $1.83B | $2.12B | $2.80B | $2.74B | $2.79B | $2.83B |
| Total Long-Term Debt | $200.3M | $84.4M | $255.0M | $388.1M | $359.3M | $360.3M |
| Total Liabilities | $2.08B | $2.25B | $3.01B | $2.95B | $3.00B | $3.06B |
| Shareholders' Equity | $176.6M | $202.0M | $238.5M | $265.8M | $270.5M | $301.5M |
Bankwell Financial Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$1.5M | $34.6M | $82.7M | $31.9M | $29.9M | $28.3M |
| Cash From Investing | -$21.9M | -$270.0M | -$811.2M | -$48.3M | -$34.0M | -$165.2M |
| Cash From Financing | $355.0M | $170.6M | $739.5M | -$70.1M | $42.4M | $54.3M |
| Free Cash Flow | -$2.2M | — | $77.7M | $29.9M | $29.3M | $27.1M |
Figures from Bankwell Financial's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Bankwell Financial financials page for every line item.
Bankwell Financial Company Profile
| Ticker | BWFG |
|---|---|
| Exchange | Nasdaq |
| Industry | State Commercial Banks |
| Headquarters | New Canaan, Connecticut |
| Incorporated in | Connecticut |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001505732 |
Frequently Asked Questions
What was Bankwell Financial's revenue in fiscal 2025?
Bankwell Financial (BWFG) reported revenue of $108.3M for fiscal 2025.
What is Bankwell Financial's annual revenue history?
Bankwell Financial's annual revenue by fiscal year: 2020: $57.7M; 2021: $73.5M; 2022: $97.8M; 2023: $99.3M; 2024: $87.0M; 2025: $108.3M.
What was Bankwell Financial's net income in fiscal 2025?
Bankwell Financial reported net income of $35.2M for fiscal 2025.
What was Bankwell Financial's earnings per share (EPS) in fiscal 2025?
Bankwell Financial's diluted EPS was $4.45 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Bankwell Financial generate in fiscal 2025?
Bankwell Financial generated $27.1M of free cash flow in fiscal 2025.
What was Bankwell Financial's revenue last quarter?
In its most recent reported quarter (2026 Q2), Bankwell Financial reported revenue of $32.8M.
How much debt does Bankwell Financial have?
Bankwell Financial reported $360.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Bankwell Financial are outstanding?
Bankwell Financial reported a weighted average of 7.9 million basic shares outstanding in 2026 Q2.
What is Bankwell Financial's market cap?
Based on its latest closing price, Bankwell Financial (BWFG) has a market capitalization of about $523.8M.
When does Bankwell Financial's fiscal year end?
Bankwell Financial's fiscal year end, as registered with the SEC, is December 31.
Where is Bankwell Financial headquartered?
Bankwell Financial lists its business address in New Canaan, Connecticut in its SEC filings.