Associated tags: Finance, Professional Services, Banking, Bankwell, Bank, Sale, GAAP, CECL, Total, W Holding Company, Cryptocurrency, FDIC, Airline, HTM, ACL, Federal, Federal Reserve
Locations: UNITED STATES, NORTH AMERICA, CONNECTICUT
Retrieved on:
Wednesday, April 24, 2024
Average yield on total loans was 6.37% for the quarter ended March 31, 2024.
Key Points:
- Average yield on total loans was 6.37% for the quarter ended March 31, 2024.
- Revenues (net interest income plus noninterest income) for the quarter ended March 31, 2024 were $22.1 million, versus $27.1 million for the quarter ended March 31, 2023.
- Net income for the quarter ended March 31, 2024 was $3.8 million, versus $10.4 million for the quarter ended March 31, 2023.
- 1 - The increase in overall loan yields was 50 bps for the quarter ended March 31, 2024.
Retrieved on:
Wednesday, January 24, 2024
Finance,
Banking,
Professional Services,
Other Professional Services,
Asset Management,
CECL,
Bankwell,
ACL,
Federal,
Federal Reserve,
Balance sheet,
Sale,
GAAP,
Net interest margin,
Common equity,
Book value,
Fourth Noninterest expense to average assets was 1.56% for the quarter ended December 31, 2023 and 1.55% for the year ended December 31, 2023.
Key Points:
- Noninterest expense to average assets was 1.56% for the quarter ended December 31, 2023 and 1.55% for the year ended December 31, 2023.
- Return on average assets was 1.03% for the quarter ended December 31, 2023 and 1.13% for the year ended December 31, 2023.
- The net interest margin was 2.81% for the quarter ended December 31, 2023 and 2.98% for the year ended December 31, 2023.
- Net income for the quarter ended December 31, 2023 was $8.5 million, versus $8.0 million for the quarter ended December 31, 2022.
Retrieved on:
Wednesday, October 25, 2023
Banking,
Professional Services,
Finance,
Bankwell,
Sale,
Futures contract,
FDIC,
Bank,
ACL,
HTM,
GAAP,
Environment,
W Holding Company,
CECL,
Total,
Tetragon Financial Group,
Cryptocurrency,
Rare-earth element,
Airline Non-Interest Expense as a percentage Average Assets stands at 1.54% year-to date, putting Bankwell well ahead of industry peers on this key metric.
Key Points:
- Non-Interest Expense as a percentage Average Assets stands at 1.54% year-to date, putting Bankwell well ahead of industry peers on this key metric.
- Return on average assets was 1.19% for the quarter ended September 30, 2023.
- Revenues (net interest income plus noninterest income) for the quarter ended September 30, 2023 were $23.5 million, versus $25.0 million for the quarter ended September 30, 2022.
- Net income for the quarter ended September 30, 2023 was $9.8 million, versus $9.2 million for the quarter ended September 30, 2022.
Banking,
Professional Services,
Finance,
Insurance,
Bankwell,
Availability,
Total,
FHLB,
NII,
Federal,
HTM,
Policy,
AFS,
FDIC,
GAAP,
Aussie (financial group),
Sale,
Federal Reserve,
Disposable household and per capita income,
FRB,
CECL,
Capital,
Bank,
W Holding Company,
Press release,
Second,
Cryptocurrency,
Management,
Life insurance,
Gasoline The Company's Board of Directors declared a $0.20 per share cash dividend, payable August 24, 2023 to shareholders of record on August 14, 2023.
Key Points:
- The Company's Board of Directors declared a $0.20 per share cash dividend, payable August 24, 2023 to shareholders of record on August 14, 2023.
- Deposits of $2.8 billion for the quarter ended June 30, 2023, decreasing $12.0 million, or 0.4% from December 31, 2022.
- Revenues (net interest income plus noninterest income) for the quarter ended June 30, 2023 were $25.4 million, versus $25.0 million and for the quarter ended June 30, 2022.
- Net income for the quarter ended June 30, 2023 was $8.0 million, versus $12.0 million for the quarter ended June 30, 2022.
Banking,
Professional Services,
Finance,
Neobank,
Cross River Bank,
Bankwell,
Promontory Financial Group,
Strategic Innovation Fund,
Sale,
Senior,
BBVA,
Bank,
Management,
Simple Bankwell Financial Group, Inc. (NASDAQ: BWFG), parent company of Bankwell Bank, today announced that Ryan J. Hildebrand has been appointed Executive Vice President in the newly created role of Chief Innovation Officer at Bankwell.
Key Points:
- Bankwell Financial Group, Inc. (NASDAQ: BWFG), parent company of Bankwell Bank, today announced that Ryan J. Hildebrand has been appointed Executive Vice President in the newly created role of Chief Innovation Officer at Bankwell.
- Mr. Hildebrand will join Bankwell's Executive Team and report to Christopher R. Gruseke, President and CEO of Bankwell.
- Mr. Hildebrand will oversee growth strategies through innovation and technology.
- Mr. Hildebrand recently served as the Strategic Innovation Officer at Lincoln Savings Bank.
Retrieved on:
Wednesday, April 26, 2023
Banking,
Other Professional Services,
Professional Services,
Finance,
Pressure,
Bankwell,
ASC,
Availability,
Total,
FHLB,
HTM,
Current Expected Credit Losses,
Net interest income,
Risk management,
AFS,
FDIC,
GAAP,
Tetragon Financial Group,
Sale,
FRB,
CECL,
SBA,
Bank,
ACL,
W Holding Company,
Environment,
Cryptocurrency,
Life insurance,
Airline,
Real estate Deposits of $2.8 billion for the quarter ended March 31, 2023, unchanged from December 31, 2022.
Key Points:
- Deposits of $2.8 billion for the quarter ended March 31, 2023, unchanged from December 31, 2022.
- FDIC-insured deposits totaled $2.0 billion and represent 70.3% of total deposits as of March 31, 2023.
- Average yield on 2023 funded loans was 7.53% for the quarter ended March 31, 2023.
- Revenues (net interest income plus noninterest income) for the quarter ended March 31, 2023 were $27.1 million, versus $20.5 million for the quarter ended March 31, 2022.
Retrieved on:
Wednesday, January 25, 2023
Banking,
Professional Services,
Finance,
Federal Reserve,
W Holding Company,
ASC,
Federal funds,
Bankwell,
GAAP,
Total,
Current Expected Credit Losses,
Fed,
Growth,
Allowance,
Aussie (financial group),
Fourth,
Bank,
Federal,
COVID-19,
CECL,
Cryptocurrency,
Airline,
Maple syrup The average yield of loans originated during 2022 was 6.24% while the average yield on fourth quarter originations was 7.23%.
Key Points:
- The average yield of loans originated during 2022 was 6.24% while the average yield on fourth quarter originations was 7.23%.
- Return on average assets was 1.07% for the quarter ended December 31, 2022 and 1.44% for the year ended December 31, 2022.
- Net income for the quarter ended December 31, 2022 was $8.0 million, versus $7.8 million for the quarter ended December 31, 2021.
- The increase in the Provision for loan losses for both the quarter and year ended December 31, 2022 was attributable to loan growth.
Retrieved on:
Tuesday, November 8, 2022
Banking,
Professional Services,
Finance,
Bankwell,
GE Capital,
Small business,
Solution,
CEO,
Finance,
FMP,
Multimedia,
CFO,
Company,
Courtney,
Management Courtney E. Sacchetti has been appointed to Executive Vice President, Chief Financial Officer at Bankwell, effective January 1, 2023, announced Christopher R. Gruseke, President and CEO of Bankwell and its parent company, Bankwell Financial Group.
Key Points:
- Courtney E. Sacchetti has been appointed to Executive Vice President, Chief Financial Officer at Bankwell, effective January 1, 2023, announced Christopher R. Gruseke, President and CEO of Bankwell and its parent company, Bankwell Financial Group.
- Mr. Gruseke stated, An exceptional performer and contributor to Bankwell, Courtney has demonstrated her ability to succeed, and she will ensure a smooth and seamless transition into the role of CFO.
- Bankwell is a high performing commercial bank with assets in excess of $2.7 billion, and a comprehensive suite of banking solutions for commercial, small business and consumer clients.
- Bankwell was founded on the principles of providing an exceptional banking experience and adding value to the communities it serves.
Retrieved on:
Wednesday, October 26, 2022
