---
schema_version: "secwatch.filing_event.v1"
accession: "0001505732-23-000064"
form_type: "8-K"
ticker: "BWFG"
cik: "0001505732"
company_name: "Bankwell Financial Group, Inc."
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:26:51.889254+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bankwell Financial posts record 2022 results; Q4 EPS $1.04, loan growth 41% YoY

## Summary
- 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.

## SEC filing metadata
- accession: 0001505732-23-000064
- form_type: 8-K
- ticker: BWFG
- cik: 0001505732
- company_name: Bankwell Financial Group, Inc.
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/bwfg-20230125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505732-23-000064
- JSON: https://secwatch.observer/filing/0001505732-23-000064.json
- Plain text: https://secwatch.observer/filing/0001505732-23-000064.txt

## Key facts
- Earnings Releases
  Bankwell Financial Group, Inc. reported Q4 2022 results: revenue $27.3 million.
  - Period: Q4 2022
  - Revenue: $27.3 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
- Earnings Releases
  Bankwell Financial Group, Inc. reported Q4 2022 results: revenue $27.3 million.
  - Period: Q4 2022
  - Revenue: $27.3 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
- Earnings Releases
  Bankwell Financial Group, Inc. reported FY 2022 results: revenue $97.8 million.
  - Period: FY 2022
  - Revenue: $97.8 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
- Earnings Releases
  Bankwell Financial Group, Inc. reported FY 2022 results: revenue $97.8 million.
  - Period: FY 2022
  - Revenue: $97.8 million
  - Result: reported results
  source text: Revenues for the year ended December 31, 2022 were $97.8 million, versus $73.5 million for the year ended December 31, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
- Earnings Releases
  Bankwell Financial Group, Inc. updated its FY 2023 guidance (reaffirmed).
  - Period: FY 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: we re-affirm our expectations for 2023’s net interest income to decline by approximately 10% versus 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.