Bankwell financial group, inc. (BWFG)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities
Cash flows from operating activities
Net Income (Loss) Attributable to Parent

18,216

17,433

13,830

12,350

9,030

4,568

5,161

1,214

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Net amortization (accretion) of premiums and discounts on investment securities

368

54

31

-1,737

-99

-124

-97

-130

Provision for loan losses

437

3,440

1,341

3,914

3,230

2,152

585

1,821

Credit for deferred income taxes

276

1,284

3,908

-1,104

-966

-696

-357

-777

Net gain on sales of available for sale securities

76

222

165

-

-

-

-

-

Change in fair value of marketable equity securities

66

0

0

-

-

-

-

-

Available-for-sale Securities, Gross Realized Gain (Loss)

-

-

-

-115

-

-

-

-

Net loss on sales of available for sale securities

-

-

-

-

-

-

648

-18

Depreciation and amortization

3,400

1,732

1,513

1,729

1,685

1,239

666

612

Amortization of debt issuance costs

52

52

52

51

-

-

-

-

Increase in cash surrender value of bank-owned life insurance

1,008

1,057

1,170

693

727

497

-

-

Loan principal sold from loans originated for sale

-

-

-

-

6,929

-

-

-

Loan principal sold from loans originated for sale

0

0

3,485

3,313

-

-27,282

-72,589

-575

Proceeds from sales of loans originated for sale

0

0

4,626

3,381

7,546

28,109

74,509

1,765

Originations of loans held for sale

-

-

-

254

-

-

-

-

Gain (Loss) on Sales of Loans, Net

1,791

984

1,427

466

1,113

1,313

2,020

18

Stock-based compensation

1,020

1,290

917

1,188

1,033

573

343

563

Net accretion of purchase accounting adjustments

76

-239

80

136

-104

656

-80

-

Loss on sale of premises and equipment

-10

-44

0

0

-

-

-

-

Loss on sale and write-downs of other real estate owned, net

-102

0

-128

-

-

-

-

-

Loss on sale and write-downs of foreclosed real estate

-

-

-

-

-184

-

-

-

Net proceeds (repayments) from short term FHLB advances

-

-

-

-

-

-

-

-33,000

Net change in FHLB advances

-

-

-

-

-

-78,000

47,000

-

Proceeds from issuance of common stock

-

-

-

-

-

44,704

13,178

-

Gains (Losses) on Sales of Other Real Estate

-

-

-

-25

-

-

-

-

Loss (gain) on sale and write-downs of foreclosed real estate

-

-

-

-

-

-

64

-

Gain on bargain purchase

-

-

-

-

-

-

1,333

-

Net change in:
Deferred loan fees

360

745

829

-466

-668

-1,120

-479

-539

Accrued interest receivable

-416

465

952

887

748

619

185

-206

Other assets

12,731

1,008

1,740

3,006

519

-58

501

1,432

Accrued expenses and other liabilities

-799

-1,002

4,136

2,275

779

978

-1,114

4,101

Net cash (used in) provided by operating activities

6,631

19,977

20,572

17,372

-

-

-

-

Cash flows from investing activities
Net cash provided by operating activities

-

-

-

-

13,148

9,170

2,949

8,167

Cash flows from investing activities
Proceeds from principal repayments on available for sale securities

9,881

9,430

5,217

770

1,877

10,189

723

1,103

Proceeds from principal repayments on held to maturity securities

226

180

212

205

220

2,353

180

480

Purchases of marketable equity securities

43

2,003

0

0

-

-

-

-

Net proceeds from sales and calls of available for sale securities

16,455

12,377

54,705

60,696

22,030

15,920

10,514

54,973

Net proceeds from sales and calls of held to maturity securities

4,900

0

5,690

-

-

-

-

-

Net proceeds from sales and calls of held to maturity securities

-

-

-

0

1,000

-

-

-

Purchases of available for sale securities

12,270

24,379

64,700

110,485

-

-

-

-

Purchases of available for sale securities

-

-

-

-

-

53,772

-

6,997

Purchase of held to maturity securities

0

0

10,609

6,835

-

-

7,623

-

Purchase of bank-owned life insurance

0

0

5,000

9,000

-

12,500

10,031

-

Acquisition, net of cash paid

-

-

-

-

-

-2,546

-30,883

-

Net (increase) decrease in loans

3,359

68,923

177,549

218,603

-218,772

-200,118

-77,004

-162,026

Loan principal sold from loans not originated for sale

25,510

8,980

14,264

4,069

23,380

-

-

-

Proceeds from sales of loans not originated for sale

27,301

9,964

14,805

4,467

24,462

-

-

-

Purchases of premises and equipment, net

645

3,351

1,874

8,401

938

2,042

908

684

Reduction of Federal Home Loan Bank stock

635

1,073

-

-

-

-

-

-

Reduction (purchase) of Federal Home Loan Bank stock

-

-

1,239

1,389

-

-

-

-

Proceeds from sale of other real estate owned

1,115

0

144

-

-

-

-

-

Proceeds from sale of foreclosed real estate

-

-

-

951

400

-

1,693

-

Purchase of Federal Home Loan Bank stock

-

-

-

-

445

1,275

134

1,034

Net cash (used in) provided by investing activities

18,686

-74,612

-194,462

-291,693

-

-

-

-

Cash flows from financing activities
Net cash used in investing activities

-

-

-

-

-193,546

-238,699

-51,707

-114,185

Cash flows from financing activities
Net change in time certificates of deposit

12,419

-16,541

29,417

165,224

128,379

111,247

66,538

-230

Net change in other deposits

-22,760

120,380

79,967

76,930

83,257

-37,973

68,772

95,216

Net change in FHLB advances

-10,000

-39,000

39,000

40,000

-

-

-

-

Net change in FHLB advances

-

-

-

-

-9,000

-

-

-

Proceeds from exercise of warrants

0

400

663

200

3,780

-

-

-

Proceeds from exercise of options

30

536

1,368

1,106

501

207

467

-

Issuance of subordinated debt

-

-

-

-

25,000

-

-

-

Redemption of SBLF preferred stock

-

-

-

-

10,980

-

-

-

Dividends paid on common stock

4,079

3,759

2,149

1,661

376

-

-

-

Repurchase of common stock

988

0

0

-

-

-

-

-

Dividends paid on preferred stock

-

-

-

-

125

110

111

132

Net tax benefit related to stock-based compensation

-

-

-

280

-

-

-

-

Net cash provided by financing activities

-25,378

62,016

148,266

282,079

-

-

-

-

Net increase in cash and cash equivalents

-61

7,381

-25,624

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

220,436

196,075

101,844

127,854

Net increase (decrease) in cash and cash equivalents

-

-

-

7,758

40,038

-33,454

53,086

21,836

Supplemental disclosures of cash flows information:
Cash paid for:
Interest

23,937

18,662

16,582

11,793

-

-

-

-

Interest

-

-

-

-

7,544

3,985

2,527

3,208

Income taxes

2,893

3,685

8,020

8,584

6,136

2,222

2,872

1,984

Assets acquired

-

-

-

-

-

112,498

34,869

-

Liabilities assumed

-

-

-

-

-

107,958

64,446

-

Noncash investing and financing activities
Noncash investing and financing activities:
Loans transferred to other real estate owned

1,217

0

0

-

883

-

52

962

Net change in unrealized gains or losses on available for sale securities

2,921

-1,854

-522

6

-

-

-

-

Net change in unrealized gains or losses on interest rate swaps

-11,121

-1,604

1,297

659

-

-

-

-

Establishment of right-of-use asset and lease liability

11,493

-

-

-

-

-

-

-

Net change in unrealized gains or losses on available-for-sale securities

-

-

-

-

-430

-

-

-