secwatch.observer — SEC 8-K summary
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Issuer:     Bankwell Financial Group, Inc. (BWFG)
CIK:        0001505732
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001505732-23-000064
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/0001505732-23-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505732/000150573223000064/bwfg-20230125.htm
  HTML page:      https://secwatch.observer/filing/0001505732-23-000064

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