Bankwell Financial Group Reports Record Earnings for the Third Quarter, Declares Fourth Quarter Dividend
Bankwell Financial Group reported record Q3 2026 GAAP net income of $12.7 million, or $1.58 per diluted share, up from $12.4 million and $1.52 in the prior quarter, despite absorbing $3.0 million of core conversion costs. Excluding those costs, operating net income was $15.0 million ($1.86 per share) with a 47.5% operating efficiency ratio; net interest margin expanded 13 basis points to 3.71% and nonperforming assets fell to 0.20% of total assets.
Key figures
- Eps
- 1.58
- Revenue
- 35327000
- Guidance
- FY26 net interest income $119-$121M; non-interest income $14-$15M; loan growth 5-7%; non-interest expense $65-$67M excluding conversion costs
- Nim
- 3.71%
- Ppnr
- 15498000
- Net income
- 12735000
- Gross loans
- 2982626000
- Total assets
- 3555275000
- Operating eps
- 1.86
- Total deposits
- 2967680000
- Efficiency ratio
- 56.1%
- Dividend per share
- $0.20
- Sba loan sale gains
- 2800000
- Operating net income
- 15016000
- Core conversion costs
- 3041000
- Total noninterest income
- 3956000
- Operating efficiency ratio
- 47.5%
- Tangible book value per share
- 41.59
- Nonperforming assets pct total assets
- 0.20%
AI analysis
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