Bankwell financial group, inc. (BWFG)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Interest and dividend income
Interest and fees on loans

77,339

74,715

66,841

58,077

48,692

33,403

26,599

22,329

Interest and dividends on securities

3,750

3,921

3,570

2,740

1,964

2,058

1,409

2,033

Interest on cash and cash equivalents

1,859

1,428

790

173

98

128

84

35

Total interest and dividend income

82,948

80,064

71,201

60,990

50,754

35,589

28,092

24,397

Interest expense
Interest expense on deposits

24,698

18,951

12,694

8,300

5,681

3,295

2,233

2,367

Interest expense on borrowings

4,489

4,787

4,143

3,598

2,285

634

532

825

Total interest expense

29,187

23,738

16,837

11,898

7,966

3,929

2,765

3,192

Net interest income

53,761

56,326

54,364

49,092

42,788

31,660

25,327

21,205

Provision for loan losses

437

3,440

1,341

3,914

3,230

2,152

585

1,821

Net interest income after provision for loan losses

53,324

52,886

53,023

45,178

39,558

29,508

24,742

19,384

Noninterest income
Service charges and fees

-

-

-

-

933

643

416

314

Bank owned life insurance

1,008

1,057

1,170

693

727

497

31

-

Gains and fees from sales of loans

1,791

984

1,427

466

1,113

1,313

2,020

18

Net gain on sale of available for sale securities

100

222

165

-

-

-

-

-

Net gain (loss) on sale of available for sale securities

-

-

-

-115

-

-

-

-

Loss on sale of other real estate owned, net

-102

0

-78

-

-

-

64

-

Gain on bargain purchase

-

-

-

-

-

-

1,333

-

Net gain on sale of available for sale securities

-

-

-

-

-

-

648

-18

Other

1,448

547

938

541

711

588

211

31

Total noninterest income

5,244

3,900

4,629

2,676

3,484

3,041

4,723

345

Noninterest expense
Salaries and employee benefits

19,434

18,973

16,284

15,655

15,736

13,534

11,578

9,451

Occupancy and equipment

7,594

6,790

6,165

5,811

5,341

4,422

3,420

3,004

Professional services

2,067

2,033

1,866

1,603

1,523

1,289

1,349

1,209

Data processing

1,857

2,103

2,072

1,654

1,447

1,194

1,595

1,546

Director fees

863

1,044

912

859

951

650

330

381

Marketing

971

1,587

1,193

948

985

674

927

333

FDIC insurance

75

92

118

151

196

133

18

-

Amortization of intangibles

74

779

1,116

660

672

488

333

365

Foreclosed real estate

-

-

-

-

168

36

8

9

Merger and acquisition related expenses

-

-

-

-

2

1,801

908

-

Other

2,691

2,232

2,797

2,203

2,150

1,591

1,654

1,560

Total noninterest expense

35,626

35,633

32,523

29,544

29,171

25,812

22,120

17,858

Income before income tax expense

22,942

21,153

25,129

18,310

13,871

6,737

7,345

1,871

Income tax expense

4,726

3,720

11,299

5,960

4,841

2,169

2,184

657

Net income

18,216

17,433

13,830

12,350

9,030

4,568

5,161

1,214

Net income attributable to common shareholders

-

-

-

-

8,905

4,458

5,050

1,082

Earnings Per Common Share:
Basic (in dollars per share)

2.32

2.23

1.80

1.64

1.23

0.78

1.46

0.39

Diluted (in dollars per share)

2.31

2.21

1.78

1.62

1.21

0.78

1.44

0.38

Weighted Average Common Shares Outstanding:
Basic (in shares)

7,757

7,722

7,572

7,396

7,071

5,577

3,395

2,767

Diluted (in shares)

7,785

7,775

7,670

7,491

7,140

5,605

3,451

2,864

Dividends per common share (in dollars per share)

0.52

0.48

0.28

0.22

0.05

-

-

-

Service charges and fees
Contract revenue

1,023

1,100

1,007

963

-

-

-

-

(Loss) gain on sale of foreclosed real estate
Revenue from contract with customers

-

-

-

128

-

-

-

-