---
schema_version: "secwatch.filing_event.v1"
accession: "0001505732-23-000198"
form_type: "8-K"
ticker: "BWFG"
cik: "0001505732"
company_name: "Bankwell Financial Group, Inc."
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:18:29.882238+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bankwell Q2 net income falls to $8.0M from $12.0M YoY; guides NII decline to 5-6%

## Summary
- GAAP EPS $1.02 versus $1.55 in Q2 2022; net interest margin compressed to 3.07% from 4.01%.
- Revenue (NII + noninterest income) $25.4M vs $25.0M YoY; average loan yield 5.95%.
- Provision for credit losses $2.6M in Q2 vs $0.8M in Q1; CECL macro factors cited.
- Revised 2023 NII guidance: now expects 5-6% decline, prior was ~10% decline.
- Declares $0.20 quarterly dividend payable Aug 24; loan book grew 3.7% from Dec 2022.

## SEC filing metadata
- accession: 0001505732-23-000198
- form_type: 8-K
- ticker: BWFG
- cik: 0001505732
- company_name: Bankwell Financial Group, Inc.
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000198/0001505732-23-000198-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000198/bwfg-20230726.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505732-23-000198
- JSON: https://secwatch.observer/filing/0001505732-23-000198.json
- Plain text: https://secwatch.observer/filing/0001505732-23-000198.txt

## Key facts
- Earnings Releases
  Bankwell Financial Group, Inc. reported the second quarter of 2023 results: revenue $25.4 million, net income $8.0 million, EPS $1.02 per share. Guidance raised.
  - Period: the second quarter of 2023
  - Revenue: $25.4 million
  - Net income: $8.0 million
  - EPS: $1.02 per share
  - Guidance: raised
  - Result: reported results
  source text: totaling $15.9 million, or 0.5% of total assets. 1 Earnings and Performance Revenues (net interest income plus noninterest income) for the quarter ended June 30, 2023 were $25.4 million, versus $25.0 million and for the quarter ended June 30, 2022. Revenues for the six months ended June 30, 2023 were $52.5 million , versus $45.4 million for the six months ended
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000198/0001505732-23-000198-index.htm

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