secwatch.observer — SEC 8-K summary
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Issuer:     Bankwell Financial Group, Inc. (BWFG)
CIK:        0001505732
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0001505732-24-000141
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankwell Q2 GAAP EPS $0.14 vs $1.02 YoY; $6.6M specific reserve on commercial credit
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- GAAP net income $1.1M ($0.14 EPS) vs $8.0M ($1.02 EPS) in Q2 2023; PPNR $9.7M vs $12.8M.
- Provision for credit losses $8.2M; $6.6M specific reserve on $8.7M commercial credit; remaining exposure $1.7M.
- Net interest margin 2.75% (down from 3.07% YoY); loans and deposits each down ~2.3-2.7% from Dec 2023.
- Board declared $0.20 per share dividend payable Aug 23, 2024 to record Aug 12.
- Repurchased 40,140 shares at weighted avg $24.55 in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505732/000150573224000141/0001505732-24-000141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505732/000150573224000141/bwfg-20240724.htm
  HTML page:      https://secwatch.observer/filing/0001505732-24-000141

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer