Bankwell financial group, inc. (BWFG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Cash flows from operating activities
Cash flows from operating activities
Net Income (Loss) Attributable to Parent

1,363

3,472

4,088

5,576

5,080

3,261

4,857

4,715

4,600

2,096

4,263

3,769

3,702

3,323

3,140

2,896

2,991

2,618

2,253

2,286

1,873

727

1,491

1,227

1,123

1,362

1,319

1,468

1,012

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

-7

-7

11

347

17

16

17

19

2

9

5

5

12

-1,244

-124

-239

-130

-10

-23

-28

-38

-42

-36

-22

-24

54

-99

-25

-27

Provision for loan losses

3,185

310

773

-841

195

2,795

322

310

13

-495

398

895

543

748

1,219

1,301

646

354

1,489

654

733

1,305

565

71

211

96

47

252

190

Credit for deferred income taxes

-866

-54

141

241

-52

1,092

-140

195

137

3,852

0

0

56

344

-573

-532

-343

108

-538

-307

-229

-483

-329

27

89

-

-

-

-

Change in fair value of marketable equity securities

39

-

-

-

29

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt Securities, Available-for-sale, Realized Gain

-

-

-

-

-

-

22

-22

222

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of marketable equity securities

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

0

0

165

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

830

866

846

846

842

473

477

418

364

479

274

348

412

424

440

437

428

429

423

430

403

404

338

291

206

226

137

147

156

Amortization of debt issuance costs

13

13

13

13

13

13

13

13

13

13

13

13

13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash surrender value of bank-owned life insurance

243

250

255

254

249

262

267

265

263

289

295

295

291

171

174

174

174

178

182

184

183

192

134

86

85

-

-

-

-

Loan principal sold from loans originated for sale

-

-

-

-

-

-

-

-

-

1,588

1,266

-1

632

-2,901

9,769

-2,287

-1,268

-

-5,908

-4,052

-3,122

-4,817

-2,199

-4,226

-16,040

-13,009

-33,548

-25,589

-443

Proceeds from sales of loans originated for sale

-

-

-

-

-

-

-

-

-

3,242

487

2

895

-2,820

2,422

2,401

1,378

-6,755

6,103

4,401

3,797

4,537

4,694

2,309

16,569

13,193

34,519

26,346

451

Gain (Loss) on Sales of Loans, Net

0

382

703

617

89

149

150

315

370

868

36

199

324

79

163

114

110

228

447

349

89

305

366

214

428

283

972

757

8

Stock-based compensation

385

246

279

279

216

326

331

353

280

246

237

218

216

400

282

257

249

237

281

273

242

409

-116

130

150

138

67

70

68

Net accretion of purchase accounting adjustments

18

18

19

20

19

20

73

0

-332

13

18

17

32

29

180

-38

-35

0

-27

-36

-41

1,008

-56

-92

-204

-

-

-

0

Net change in FHLB advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34,000

12,866

236

-102

Net proceeds from short term FHLB advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-29,000

7,000

Net repayments from long term FHLB advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,000

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,853

0

7,325

Amortization of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

13

-

-

-

-

-

-

-

-

-

-

-

-

Gains (Losses) on Sales of Other Real Estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-51

-

-122

0

18

-

-

-

-

-

-17

-5

71

Net change in:
Deferred loan fees

-4

-2

167

86

109

354

-27

227

191

174

105

301

249

-150

-12

-138

-166

-56

-265

-251

-96

-537

-251

-158

-174

-182

-108

-154

-35

Accrued interest receivable

-92

43

-249

-369

159

320

533

191

-579

566

105

59

222

459

-209

338

299

240

257

232

19

308

207

120

-16

130

-20

20

55

Other assets

19,964

-20,744

14,339

11,675

7,461

2,036

-576

1,188

-1,640

-4,361

3,181

4,591

-1,671

876

-606

2,378

358

-535

1,727

-815

142

-3,582

2,910

879

-265

430

8

498

-435

Accrued expenses and other liabilities

-1,591

-15,197

6,631

5,429

2,338

99

509

-3,191

1,581

-3,668

3,875

2,819

1,110

901

-347

1,526

195

-170

1,407

72

-530

811

-148

2,179

-1,864

276

327

1,497

-3,214

Net cash (used in) provided by operating activities

-16,842

9,704

-2,382

-1,191

500

4,902

5,932

652

8,491

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from investing activities
Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

2,648

6,691

-

4,480

3,279

3,647

3,009

3,280

4,050

2,809

7,257

910

797

206

-175

2,134

2,407

-1,417

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

2,312

2,544

2,862

2,382

2,093

2,415

2,290

2,546

2,179

1,765

1,449

1,101

902

36

84

377

273

265

1,029

299

284

6,882

3,105

92

110

85

173

210

255

Proceeds from principal repayments on held to maturity securities

58

58

55

51

62

48

47

47

38

66

48

46

52

50

51

52

52

55

57

55

53

45

2,238

36

34

35

42

43

60

Purchases of marketable equity securities

132

9

12

11

11

2,003

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sales and calls of available for sale securities

-

-

-

-

-

0

320

4,323

7,734

1,895

3,255

-1

49,556

51,883

505

7,408

900

4,000

1,000

2,750

14,280

14,300

1,220

0

400

320

0

10,194

0

Purchases of available for sale securities

0

0

0

8,309

3,961

-3

5,071

999

18,312

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of available for sale securities

-

-

-

-

-

-

-

-

-

-

0

4,321

49,969

-

0

0

51,228

-

-

-

-

10,009

25,563

10,953

7,247

-

-

-

0

Purchase of held to maturity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-1

0

6,835

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of bank-owned life insurance

-

-

-

-

-

-

-

-

-

0

0

0

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (increase) decrease in loans

16,495

40,166

-2,028

-26,699

-8,080

3,751

13,222

37,624

14,326

19,648

37,641

57,440

62,820

39,742

49,367

80,499

48,995

-21,788

-89,433

-58,615

-48,936

-90,795

-59,383

-25,029

-24,911

-22,670

-9,007

-16,625

-28,702

Loan principal sold from loans not originated for sale

0

3,846

5,700

6,106

9,858

1,772

1,199

2,800

3,209

0

5,353

5,000

3,911

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of loans not originated for sale

0

4,228

6,403

6,723

9,947

1,921

1,349

3,115

3,579

0

5,384

5,195

4,226

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of premises and equipment, net

40

172

78

279

116

-2

410

1,568

1,375

1,166

417

96

195

7,945

95

266

95

87

60

178

613

480

47

310

1,205

458

331

25

94

Reduction of Federal Home Loan Bank stock

968

0

0

0

635

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reduction (purchase) of Federal Home Loan Bank stock

-

-

-

-

-

-

-123

23

127

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of foreclosed real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

0

257

374

320

0

262

0

138

-

-

-

-

682

10

20

981

Purchase of Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

-

-

1,318

0

90

-

551

235

604

-364

0

124

685

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-13,329

-35,363

15,073

32,105

6,871

-2,037

-15,773

-32,983

-23,819

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from financing activities
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-67,368

-67,249

-

-49,115

-72,789

-106,212

-15,109

-87,145

-55,813

-35,479

-78,786

-90,930

-36,164

-32,819

-1,077

-16,813

-6,419

-27,398

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

195,674

-16,285

3,896

-10,217

35,025

-27,717

22,558

-10,401

-981

-15,798

-8,236

40,122

13,329

7,320

50,895

68,984

38,025

8,574

80,356

46,691

-7,242

72,678

-24,449

49,447

13,571

-1,862

28,304

59,524

-19,428

Net change in other deposits

-6,445

37,904

-11,343

-33,417

-15,904

36,791

4,973

49,513

29,103

4,412

3,741

46,705

25,109

64,785

-14,530

17,887

8,788

12,706

-6,221

70,222

6,550

-33,128

-10,473

1,517

4,111

55,129

-3,414

-20,312

37,369

Net change in FHLB advances

-25,000

0

0

0

-10,000

-20,000

-19,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in FHLB advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

5,000

40,000

-

-4,000

-9,000

4,000

-

30,000

-12,000

15,000

-

-

-

-

Proceeds from exercise of warrants

-

-

-

-

-

0

0

0

400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of options

16

0

0

23

7

13

33

108

382

653

200

261

254

823

59

0

224

243

0

0

258

0

0

16

191

-4

384

66

21

Dividends paid on common stock

1,092

1,018

1,019

1,022

1,020

941

941

940

937

540

539

536

534

530

378

377

376

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

1,037

0

0

988

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43

27

28

27

28

27

28

27

27

29

28

27

Net cash provided by financing activities

162,116

20,601

-8,466

-45,621

8,108

-11,854

7,623

38,280

27,967

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

131,945

-5,058

4,225

-14,707

15,479

-8,989

-2,218

5,949

12,639

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

76,752

38,158

-

46,046

91,481

86,674

13,867

95,145

107,885

3,539

84,522

-4,949

83,656

32,846

32,236

27,098

21,250

21,260

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

10,459

12,032

-22,400

267

1,411

21,971

-15,891

1,767

11,280

56,122

-29,131

12,993

-94,969

48,289

233

30,984

12,419

17,238

-7,555

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

6,503

1,997

7,800

7,419

6,721

1,807

6,250

5,648

4,957

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

4,081

3,447

-

3,024

2,789

2,616

2,719

1,947

1,620

1,258

1,243

1,022

835

885

655

617

615

640

Income taxes

63

775

1,290

753

75

620

1,550

1,455

60

-

-

-

-

2,205

1,900

3,416

1,063

1,060

2,585

1,471

1,020

1,772

-180

430

200

830

983

931

128

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

-

-

-

-

-

0

0

-487

487

-

-

-

-

-

-

-

-

0

883

0

0

-

-

-

-

-

-

0

0

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

2,224

-25

352

1,202

1,392

1,130

-643

-585

-1,756

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in unrealized gains or losses on interest rate swaps

-17,426

4,690

-5,765

-5,974

-4,072

-5,203

1,784

-188

2,003

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Establishment of right-of-use asset and lease liability

103

301

608

0

10,584

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

294

-6

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-