Bankwell Financial Group, Inc. BWFG Income Statement

Bankwell financial group, inc. (BWFG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Interest and dividend income
Interest and fees on loans
18,985	18,648	19,055	19,540	20,096	20,030	19,153	18,114	17,418	17,493	17,175	16,660	15,513	15,910	14,914	13,970	13,283	13,378	12,660	11,897	10,757	10,363	8,054	7,558	7,428	6,980	6,748	6,572	6,299
Interest and dividends on securities
825	858	903	992	997	1,009	1,002	975	935	947	934	880	809	657	688	711	684	493	493	474	504	641	569	437	411	369	355	318	367
Interest on cash and cash equivalents
286	427	535	514	383	504	345	325	254	289	239	148	114	75	31	30	37	36	33	17	12	12	45	49	22	45	18	11	10
Total interest and dividend income
20,096	19,933	20,493	21,046	21,476	21,543	20,500	19,414	18,607	18,729	18,348	17,688	16,436	16,642	15,633	14,711	14,004	13,907	13,186	12,388	11,273	11,016	8,668	8,044	7,861	7,394	7,121	6,901	6,676
Interest expense
Interest expense on deposits
5,709	5,948	6,331	6,319	6,100	5,942	5,044	4,309	3,656	3,602	3,416	3,095	2,581	2,438	2,160	1,962	1,740	1,775	1,637	1,231	1,038	1,038	905	730	622	680	600	514	439
Interest expense on borrowings
1,101	1,103	1,151	1,132	1,103	1,134	1,210	1,197	1,246	1,213	1,071	952	907	916	946	870	866	896	632	416	341	207	168	166	93	-	127	139	-
Interest on Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152
Total interest expense
6,810	7,051	7,482	7,451	7,203	7,076	6,254	5,506	4,902	4,815	4,487	4,047	3,488	3,354	3,106	2,832	2,606	2,671	2,269	1,647	1,379	1,245	1,073	896	715	794	727	653	591
Net interest income
13,286	12,882	13,011	13,595	14,273	14,467	14,246	13,908	13,705	13,914	13,861	13,641	12,948	13,288	12,527	11,879	11,398	11,236	10,917	10,741	9,894	9,771	7,595	7,148	7,146	6,600	6,394	6,248	6,085
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	566	70	211	96	47	252	190
Net interest income after provision for loan losses
10,101	12,572	12,238	14,436	14,078	11,672	13,924	13,598	13,692	14,409	13,463	12,746	12,405	12,540	11,308	10,578	10,752	10,882	9,428	10,087	9,161	8,466	7,029	7,078	6,935	6,504	6,347	5,996	5,895
Noninterest income
Service charges and fees
-	-	-	-	-	-	-	-	-	-	254	261	240	-	241	235	245	258	234	233	208	223	153	143	124	114	100	101	101
Bank owned life insurance
243	250	255	254	249	262	267	265	263	289	295	295	291	171	174	174	174	177	182	185	183	191	135	86	85	-	0	-	0
Service charges and fees
217	-	-	-	249	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains and fees from sales of loans
0	382	703	617	89	149	150	315	370	868	36	199	324	79	163	114	110	228	447	349	89	306	366	213	428	283	972	757	8
Net gain on sale of available for sale securities
-	-	0	76	-	0	0	0	222	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sale of available for sale securities
-	-	-	-	-	-	-	-	-	-	0	0	165	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of other real estate owned, net
-	-	-102	-	-	-	0	-	-	-	-	-	-	-	-	128	-	-	-	-	-	-	-	-	-	14	-16	-5	71
Gain on sale of foreclosed real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	18	-	-	-	-	-	-	-	-
Net gain on sale of available for sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	92	-	-	-	-	-	-	-	-	-	-	0	648	-
Other
612	169	432	126	721	-94	157	262	222	210	239	243	246	116	172	110	143	175	348	87	101	113	103	240	132	57	27	23	104
Total noninterest income
1,072	1,048	1,552	1,336	1,308	601	859	1,107	1,333	1,541	824	998	1,266	401	750	853	672	820	1,211	854	599	833	757	682	769	1,832	1,083	1,524	284
Noninterest expense
Salaries and employee benefits
5,380	5,162	4,881	4,555	4,836	4,503	4,903	4,539	5,028	4,603	3,952	3,800	3,929	4,258	3,839	3,747	3,811	3,919	3,798	4,057	3,962	4,122	2,786	3,284	3,342	3,440	2,894	2,752	2,492
Occupancy and equipment
1,909	1,928	1,946	1,833	1,887	1,671	1,771	1,731	1,617	1,585	1,449	1,439	1,692	1,576	1,435	1,392	1,408	1,312	1,370	1,310	1,349	1,261	1,066	1,030	1,065	1,025	836	787	772
Professional services
711	421	505	551	590	487	512	509	525	399	621	401	445	402	417	377	407	366	416	405	336	340	314	300	335	562	280	251	256
Data processing
536	480	346	519	512	583	321	424	775	457	680	523	412	397	521	370	366	414	339	369	325	159	394	272	369	383	422	421	369
Director fees
295	224	235	215	189	295	260	274	215	229	207	243	233	296	198	210	155	526	136	141	148	191	177	143	139	-95	142	144	139
Marketing
162	220	210	348	193	416	395	479	297	321	295	311	266	304	242	263	139	278	288	271	148	211	135	218	110	151	378	270	128
FDIC insurance
70	-86	19	19	123	20	24	24	24	25	31	31	31	32	39	40	40	43	51	51	51	52	27	27	27	-	0	-	0
Amortization of intangibles
18	104	-125	76	19	159	203	203	214	225	265	243	383	146	177	168	169	185	166	163	158	143	120	107	118	67	36	100	130
Foreclosed real estate
-	-	-	-	-	-	-	-	-	-	-	-	7	-	47	30	72	76	81	6	5	15	9	-2	14	3	1	4	0
Merger and acquisition related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,393	145	122	141	844	0	64	0
Other
578	771	655	639	626	662	481	581	508	742	629	590	836	506	566	618	513	540	513	607	490	459	357	394	381	662	342	338	312
Total noninterest expense
9,659	9,224	8,672	8,755	8,975	8,796	8,870	8,764	9,203	8,579	8,129	7,581	8,234	7,768	7,481	7,215	7,080	7,661	7,158	7,380	6,972	8,344	5,530	5,897	6,041	7,060	5,331	5,131	4,598
Income before income tax expense
1,514	4,396	5,118	7,017	6,411	3,477	5,913	5,941	5,822	7,371	6,158	6,163	5,437	5,173	4,577	4,216	4,344	4,041	3,481	3,561	2,788	955	2,256	1,863	1,663	1,276	2,099	2,389	1,581
Income tax expense
151	924	1,030	1,441	1,331	216	1,056	1,226	1,222	5,275	1,895	2,394	1,735	1,850	1,437	1,320	1,353	1,423	1,228	1,275	915	228	765	636	540	-86	780	921	569
Net income
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
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27
Net income attributable to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,574	2,226	2,259	1,846	698	1,464	1,200	1,096	1,374	1,271	1,420	985
Earnings Per Common Share:
Basic (in dollars per share)
0.17	0.44	0.52	0.71	0.65	0.42	0.62	0.60	0.59	0.27	0.55	0.49	0.49	0.44	0.42	0.38	0.40	0.35	0.31	0.31	0.26	0.05	0.22	0.23	0.28	0.34	0.38	0.43	0.31
Diluted (in dollars per share)
0.17	0.43	0.52	0.71	0.65	0.40	0.62	0.60	0.59	0.26	0.55	0.49	0.48	0.43	0.41	0.38	0.40	0.33	0.31	0.31	0.26	0.05	0.22	0.23	0.28	0.35	0.37	0.42	0.30
Weighted Average Common Shares Outstanding:
Basic (in shares)
7,750	7,746	7,750	7,773	7,760	7,750	7,738	7,722	7,677	7,626	7,587	7,550	7,525	7,419	7,397	7,387	7,380	7,170	7,044	7,042	7,028	7,043	6,483	5,022	3,762	-	-	-	-
Diluted (in shares)
7,779	7,807	7,766	7,790	7,776	7,853	7,763	7,762	7,722	7,731	7,670	7,645	7,632	7,575	7,488	7,467	7,431	7,390	7,059	7,056	7,056	7,079	6,501	5,045	3,795	-	-	-	-
Dividends per common share (in dollars per share)
0.14	0.13	0.13	0.13	0.13	0.12	0.12	0.12	0.12	0.07	0.07	0.07	0.07	0.07	0.05	0.05	0.05	-	-	-	-	-	-	-	-	-	-	-	-
Service charges and fees
Contract revenue
-	-	264	263	-	294	285	265	256	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-