Bankwell posts record Q4 net income $7.8M ($0.99 EPS), ups dividend 11%

Bankwell Financial Group, Inc.

2021-FY EPS reported $3.36 revenue$872,000

Net income $7.8M ($0.99 EPS) vs $0.3M ($0.04 EPS) in Q4 2020; full year $26.6M ($3.36 EPS) vs $5.9M ($0.75 EPS).
Dividend increased 11% to $0.20/share, payable Feb 24, 2022 to holders of record Feb 14, 2022.
Net interest margin improved to 3.43% from 2.66% a year ago; loans ex-PPP grew 19.1% YoY.
Guidance: net interest income to grow 12-14% in 2022, assuming four rate hikes.
Tangible book value per share rose to $26.19 from $22.43; ROAE 15.44% for Q4.

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