8-K
filed January 25, 2023, 6:59 PM ET
ticker BWFG
CIK 0001505732
earnings
confidence high
sentiment positive
materiality 0.75
Bankwell Financial posts record 2022 results; Q4 EPS $1.04, loan growth 41% YoY
Bankwell Financial Group, Inc.
2022-FY EPS reported
$4.79
revenue$1,072,000
- GAAP net income Q4 2022 of $8.0M ($1.04 EPS) vs $7.8M ($0.99 EPS) in Q4 2021; full year net income $37.4M ($4.79 EPS) vs $26.6M ($3.36 EPS).
- Total gross loans grew 41.2% YoY to $2.7B; average yield on 2022 loan originations 6.24% vs 4.56% in 2021.
- Net interest margin (FTE) expanded to 3.70% in Q4 2022 from 3.43% in Q4 2021; full year NIM 3.78% vs 3.17%.
- Declared $0.20 per share quarterly dividend, payable Feb 23, 2023 to holders of record Feb 13, 2023.
- Guides 2023 net interest income down ~10% vs 2022; CECL adoption on Jan 1, 2023, expected pre-tax impact of $3.4M-$4.2M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Bankwell Financial Group, Inc. reported Q4 2022 results: revenue $27.3 million.
- Period
- Q4 2022
- Revenue
- $27.3 million
- Result
- reported results
Exact text from the filing
Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $8.0 million, or $1.04 per share for the fourth quarter of 2022, versus $7.8 million, or $0.99 per share, for the same period in 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Bankwell Financial Group, Inc. reported Q4 2022 results: revenue $27.3 million.
- Period
- Q4 2022
- Revenue
- $27.3 million
- Result
- reported results
Exact text from the filing
Revenues (net interest income plus noninterest income) for the quarter ended December 31, 2022 were $27.3 million, versus $19.8 million for the quarter ended December 31, 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Bankwell Financial Group, Inc. reported FY 2022 results: revenue $97.8 million.
- Period
- FY 2022
- Revenue
- $97.8 million
- Result
- reported results
Exact text from the filing
For the year ended 2022, net income totaled $37.4 million, or $4.79 per share, versus $26.6 million, or $3.36 per share, for the same period in 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Bankwell Financial Group, Inc. reported FY 2022 results: revenue $97.8 million.
- Period
- FY 2022
- Revenue
- $97.8 million
- Result
- reported results
Exact text from the filing
Revenues for the year ended December 31, 2022 were $97.8 million, versus $73.5 million for the year ended December 31, 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Bankwell Financial Group, Inc. updated its FY 2023 guidance (reaffirmed).
- Period
- FY 2023
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
we re-affirm our expectations for 2023’s net interest income to decline by approximately 10% versus 2022.
View on SEC.gov
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