secwatch.observer — SEC 8-K summary
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Issuer:     Bankwell Financial Group, Inc. (BWFG)
CIK:        0001505732
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001505732-23-000252
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/0001505732-23-000252-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505732/000150573223000252/bwfg-20231025.htm
  HTML page:      https://secwatch.observer/filing/0001505732-23-000252

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