---
schema_version: "secwatch.filing_event.v1"
accession: "0001505732-23-000252"
form_type: "8-K"
ticker: "BWFG"
cik: "0001505732"
company_name: "Bankwell Financial Group, Inc."
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T10:26:02.649436+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Bankwell Q3 net income $9.8M ($1.25 EPS) vs $9.2M a year ago; NIM drops to 2.85%

## Summary
- GAAP net income $9.8M ($1.25 diluted EPS) vs $9.2M ($1.18) in Q3 2022; net interest margin narrowed to 2.85% from 4.12% YoY.
- Total gross loans grew $94.7M (3.5%) to $2.8B; deposits decreased $32.2M (1.1%) to $2.8B; brokered deposits down $75.3M.
- ACL-loans release of $1.4M in Q3; ACL as % of loans was 1.06% vs 1.11% prior quarter.
- Board declares $0.20 per share quarterly dividend, payable Nov 20, 2023 to holders of record Nov 10, 2023.
- Company highlights $1.7B immediately available liquidity, covering >2x uninsured deposits; FDIC-insured deposits 71.2% of total.

## SEC filing metadata
- accession: 0001505732-23-000252
- form_type: 8-K
- ticker: BWFG
- cik: 0001505732
- company_name: Bankwell Financial Group, Inc.
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/0001505732-23-000252-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/bwfg-20231025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505732-23-000252
- JSON: https://secwatch.observer/filing/0001505732-23-000252.json
- Plain text: https://secwatch.observer/filing/0001505732-23-000252.txt

## Key facts
- Earnings Releases
  Bankwell Financial Group, Inc. reported the third quarter of 2023 results: net income $9.8 million, EPS $1.25 per share.
  - Period: the third quarter of 2023
  - Net income: $9.8 million
  - EPS: $1.25 per share
  - Result: reported results
  source text: Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $9.8 million, or $1.25 per share for the third quarter of 2023, versus $9.2 million, or $1.18 per share, for the same period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/0001505732-23-000252-index.htm
- Earnings Releases
  Bankwell Financial Group, Inc. reported the nine months ended September 30, 2023 results: net income $28.1 million.
  - Period: the nine months ended September 30, 2023
  - Net income: $28.1 million
  - Result: reported results
  source text: Net income for the nine months ended September 30, 2023 was $28.1 million, versus $29.4 million for the nine months ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/0001505732-23-000252-index.htm

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