Bankwell Financial Group Stock Earnings Reports

Bankwell reported a solid start to 2026 with GAAP net income of $11.3 million ($1.41 per share). Key drivers were $190 million of loan originations (including $34 million SBA), strong fee income from the SBA platform, meaningful core deposit growth (+$113 million sequentially, including $39 million low-cost deposits), and reduced reliance on wholesale funding (broker deposits and FHLB borrowings down $95 million). Net interest margin dipped modestly to 328 bps due to floating-rate loan repricings and an unfavorable day count; deposit costs improved to 310 bps (exit March ~298 bps). The bank repriced ~$300 million of time deposits (44 bps lower) and expects ~ $1.1 billion more to reprice over 12 months, yielding incremental margin benefit. Noninterest income was $3.3 million (including $2.4 million SBA gain on sale); full-year noninterest income guidance was raised to $12–$13 million. Provision was a release of $1 million; ACL was 1.03% of loans with coverage of NPAs ~155%. Capital and liquidity remain solid: assets $3.4B, deposits $2.9B, tangible common equity 9.17%, CET1 ~10.58%. Management repurchased a small number of shares and said buybacks could continue conditionally. Management reiterated full-year NII guidance of $111–$112 million and expects incremental NIM improvement through 2026 as deposit repricing continues and rate sensitivity moderates. Credit trends are stable with visibility into resolution of several NPAs and continued diversification of the loan mix (more variable-rate loans and core C&I activity).