---
schema_version: "secwatch.filing_event.v1"
accession: "0001505732-24-000078"
form_type: "8-K"
ticker: "BWFG"
cik: "0001505732"
company_name: "Bankwell Financial Group, Inc."
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:33:15.501924+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bankwell Q1 net income $3.8M ($0.48) vs $10.4M ($1.33) YoY; $3.7M charge-offs

## Summary
- PPNR fell to $8.8M from $14.4M YoY; net interest margin 2.71% vs 3.24%.
- Charge-offs of $3.7M linked to a suburban CT office building and two SBA loans.
- Dividend of $0.20/share declared, payable May 21, record May 10.
- Guidance: NIM expected to trough at 255-265 bps in Q2 2024; FY 2024 noninterest expense reaffirmed at $53-54M.
- Repurchased 45,924 shares at weighted avg $25.33 through April 11.

## SEC filing metadata
- accession: 0001505732-24-000078
- form_type: 8-K
- ticker: BWFG
- cik: 0001505732
- company_name: Bankwell Financial Group, Inc.
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1505732/000150573224000078/0001505732-24-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505732/000150573224000078/bwfg-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505732-24-000078
- JSON: https://secwatch.observer/filing/0001505732-24-000078.json
- Plain text: https://secwatch.observer/filing/0001505732-24-000078.txt

## Key facts
- Earnings Releases
  Bankwell Financial Group, Inc. reported the first quarter of 2024 results: net income $3.8 million, or $0.48 per share, EPS $0.48 and $0.48, respectively. Guidance reaffirmed.
  - Period: the first quarter of 2024
  - Net income: $3.8 million, or $0.48 per share
  - EPS: $0.48 and $0.48, respectively
  - Guidance: reaffirmed
  - Result: reported results
  source text: Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $3.8 million, or $0.48 per share for the first quarter of 2024, versus $10.4 million, or $1.33 per share, for the same period in 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505732/000150573224000078/0001505732-24-000078-index.htm

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