---
schema_version: "secwatch.filing_event.v1"
accession: "0001505732-23-000140"
form_type: "8-K"
ticker: "BWFG"
cik: "0001505732"
company_name: "Bankwell Financial Group, Inc."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:39:02.068761+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bankwell Q1 net income $10.4M, EPS $1.33; declares $0.20 dividend

## Summary
- GAAP net income $10.4M ($1.33 diluted EPS) vs $8.2M ($1.04) YoY, up 27%.
- Revenue (net interest income + noninterest income) $27.1M vs $20.5M YoY on loan growth and higher yields.
- Gross loans $2.8B (+3.1% from Dec 2022); deposits $2.8B flat; 70.3% FDIC-insured; $1.5B liquidity covers 200% of uninsured deposits.
- Net interest margin 3.24% vs 3.30% YoY; guidance reiterated: NII expected down ~10% in FY2023.
- Quarterly dividend $0.20/share payable May 23, record May 12; CECL adoption increased ACL-loans by $5.1M.

## SEC filing metadata
- accession: 0001505732-23-000140
- form_type: 8-K
- ticker: BWFG
- cik: 0001505732
- company_name: Bankwell Financial Group, Inc.
- filed_at: 2023-04-26T23:59:59+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/1505732/000150573223000140/0001505732-23-000140-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000140/bwfg-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505732-23-000140
- JSON: https://secwatch.observer/filing/0001505732-23-000140.json
- Plain text: https://secwatch.observer/filing/0001505732-23-000140.txt

## Key facts
- Earnings Releases
  Bankwell Financial Group, Inc. reported the quarter ended March 31, 2023 results: revenue $27.1 million, net income $10.4 million, EPS $1.33 per share. Guidance reaffirmed.
  - Period: the quarter ended March 31, 2023
  - Revenue: $27.1 million
  - Net income: $10.4 million
  - EPS: $1.33 per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: million adjustment to the ACL-Unfunded Commitments. Earnings and Performance Revenues (net interest income plus noninterest income) for the quarter ended March 31, 2023 were $27.1 million, versus $20.5 million for the quarter ended March 31, 2022. The increase in revenues was primarily attributable to an increase in interest and fees on loans due to loan growth
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000140/0001505732-23-000140-index.htm

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