Bankwell Q1 net income $6.9M vs $3.0M prior Q; NIM up 21bp; NPAs fall to 0.83%; dividend $0.20

Bankwell Financial Group, Inc.

2025-Q1 EPS reported $0.87 revenue$602,000

GAAP net income of $6.9M ($0.87 diluted EPS) vs $3.0M ($0.37) in Q4 2024.
Net interest margin expanded 21bp to 2.81%; cost of deposits fell 12bp to 3.60%.
Nonperforming assets ratio improved to 0.83% from 1.88% after selling $27.1M NPL and OREO.
SBA gains $442K on $10M originations; added two deposit teams in NYC metro.
Declared $0.20/share dividend payable May 20, 2025 to holders of record May 9, 2025.

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