Bankwell Financial Group, Inc. BWFG Income Statement

Bankwell financial group, inc. (BWFG)

Income statement / TTM

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
76,228	77,339	78,721	78,819	77,393	74,715	72,178	70,200	68,746	66,841	65,258	62,997	60,307	58,077	55,545	53,291	51,218	48,692	45,677	41,071	36,732	33,403	30,020	28,714	27,728	26,599	0	0	0
Interest and dividends on securities
3,578	3,750	3,901	4,000	3,983	3,921	3,859	3,791	3,696	3,570	3,280	3,034	2,865	2,740	2,576	2,381	2,144	1,964	2,112	2,188	2,151	2,058	1,786	1,572	1,453	1,409	0	0	0
Interest on cash and cash equivalents
1,762	1,859	1,936	1,746	1,557	1,428	1,213	1,107	930	790	576	368	250	173	134	136	123	98	74	86	118	128	161	134	96	84	0	0	0
Total interest and dividend income
81,568	82,948	84,558	84,565	82,933	80,064	77,250	75,098	73,372	71,201	69,114	66,399	63,422	60,990	58,255	55,808	53,485	50,754	47,863	43,345	39,001	35,589	31,967	30,420	29,277	28,092	0	0	0
Interest expense
Interest expense on deposits
24,307	24,698	24,692	23,405	21,395	18,951	16,611	14,983	13,769	12,694	11,530	10,274	9,141	8,300	7,637	7,114	6,383	5,681	4,944	4,212	3,711	3,295	2,937	2,632	2,416	2,233	0	0	0
Interest expense on borrowings
4,487	4,489	4,520	4,579	4,644	4,787	4,866	4,727	4,482	4,143	3,846	3,721	3,639	3,598	3,578	3,264	2,810	2,285	1,596	1,132	882	634	554	525	0	-	0	0	-
Interest on Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Total interest expense
28,794	29,187	29,212	27,984	26,039	23,738	21,477	19,710	18,251	16,837	15,376	13,995	12,780	11,898	11,215	10,378	9,193	7,966	6,540	5,344	4,593	3,929	3,478	3,132	2,889	2,765	0	0	0
Net interest income
52,774	53,761	55,346	56,581	56,894	56,326	55,773	55,388	55,121	54,364	53,738	52,404	50,642	49,092	47,040	45,430	44,292	42,788	41,323	38,001	34,408	31,660	28,489	27,288	26,388	25,327	0	0	0
Provision for loan losses
3,427	437	2,922	2,471	3,622	3,440	150	226	811	1,341	2,584	3,405	3,811	3,914	3,520	3,790	3,143	3,230	4,181	3,258	2,674	2,152	943	424	606	585	0	0	0
Net interest income after provision for loan losses
49,347	53,324	52,424	54,110	53,272	52,886	55,623	55,162	54,310	53,023	51,154	48,999	46,831	45,178	43,520	41,640	41,149	39,558	37,142	34,743	31,734	29,508	27,546	26,864	25,782	24,742	0	0	0
Noninterest income
Service charges and fees
-	-	-	-	-	-	-	-	-	-	997	984	958	-	979	972	970	933	898	817	727	643	534	481	439	416	0	0	0
Bank owned life insurance
1,002	1,008	1,020	1,032	1,043	1,057	1,084	1,112	1,142	1,170	1,052	931	810	693	699	707	718	727	741	694	595	497	306	0	0	-	0	-	0
Service charges and fees
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains and fees from sales of loans
1,702	1,791	1,558	1,005	703	984	1,703	1,589	1,473	1,427	638	765	680	466	615	899	1,134	1,113	1,191	1,110	974	1,313	1,290	1,896	2,440	2,020	0	0	0
Net gain on sale of available for sale securities
-	-	76	76	-	222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sale of available for sale securities
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of other real estate owned, net
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	64	0	0	0
Gain on sale of foreclosed real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Net gain on sale of available for sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	0	0	-
Other
1,339	1,448	1,185	910	1,046	547	851	933	914	938	844	777	644	541	600	776	753	711	649	404	557	588	532	456	239	211	0	0	0
Total noninterest income
5,008	5,244	4,797	4,104	3,875	3,900	4,840	4,805	4,696	4,629	3,489	3,415	3,270	2,676	3,095	3,556	3,557	3,484	3,497	3,043	2,871	3,041	4,040	4,366	5,208	4,723	0	0	0
Noninterest expense
Salaries and employee benefits
19,978	19,434	18,775	18,797	18,781	18,973	19,073	18,122	17,383	16,284	15,939	15,826	15,773	15,655	15,316	15,275	15,585	15,736	15,939	14,927	14,154	13,534	12,852	12,960	12,428	11,578	0	0	0
Occupancy and equipment
7,616	7,594	7,337	7,162	7,060	6,790	6,704	6,382	6,090	6,165	6,156	6,142	6,095	5,811	5,547	5,482	5,400	5,341	5,290	4,986	4,706	4,422	4,186	3,956	3,713	3,420	0	0	0
Professional services
2,188	2,067	2,133	2,140	2,098	2,033	1,945	2,054	1,946	1,866	1,869	1,665	1,641	1,603	1,567	1,566	1,594	1,523	1,497	1,395	1,290	1,289	1,511	1,477	1,428	1,349	0	0	0
Data processing
1,881	1,857	1,960	1,935	1,840	2,103	1,977	2,336	2,435	2,072	2,012	1,853	1,700	1,654	1,671	1,489	1,488	1,447	1,192	1,247	1,150	1,194	1,418	1,446	1,595	1,595	0	0	0
Director fees
969	863	934	959	1,018	1,044	978	925	894	912	979	970	937	859	1,089	1,027	958	951	616	657	659	650	364	329	330	330	0	0	0
Marketing
940	971	1,167	1,352	1,483	1,587	1,492	1,392	1,224	1,193	1,176	1,123	1,075	948	922	968	976	985	918	765	712	674	614	857	909	927	0	0	0
FDIC insurance
22	75	181	186	191	92	97	104	111	118	125	133	142	151	162	174	185	196	205	181	157	133	81	0	0	-	0	-	0
Amortization of intangibles
73	74	129	457	584	779	845	907	947	1,116	1,037	949	874	660	699	688	683	672	630	584	528	488	412	328	321	333	0	0	0
Foreclosed real estate
-	-	-	-	-	-	-	-	-	-	-	-	92	-	225	259	235	168	107	35	27	36	24	16	22	8	0	0	0
Merger and acquisition related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,801	1,252	1,107	1,049	908	0	0	0
Other
2,643	2,691	2,582	2,408	2,350	2,232	2,312	2,460	2,469	2,797	2,561	2,498	2,526	2,203	2,237	2,184	2,173	2,150	2,069	1,913	1,700	1,591	1,794	1,779	1,723	1,654	0	0	0
Total noninterest expense
36,310	35,626	35,198	35,396	35,405	35,633	35,416	34,675	33,492	32,523	31,712	31,064	30,698	29,544	29,437	29,114	29,279	29,171	29,854	28,226	26,743	25,812	24,528	24,329	23,563	22,120	0	0	0
Income before income tax expense
18,045	22,942	22,023	22,818	21,742	21,153	25,047	25,292	25,514	25,129	22,931	21,350	19,403	18,310	17,178	16,082	15,427	13,871	10,785	9,560	7,862	6,737	7,058	6,901	7,427	7,345	0	0	0
Income tax expense
3,546	4,726	4,018	4,044	3,829	3,720	8,779	9,618	10,786	11,299	7,874	7,416	6,342	5,960	5,533	5,324	5,279	4,841	3,646	3,183	2,544	2,169	1,855	1,870	2,155	2,184	0	0	0
Net income
14,499	18,216	18,005	18,774	17,913	17,433	16,268	15,674	14,728	13,830	15,057	13,934	13,061	12,350	11,645	10,758	10,148	9,030	7,139	6,377	5,318	4,568	5,203	5,031	5,272	5,161	0	0	0
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net income attributable to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,905	7,029	6,267	5,208	4,458	5,134	4,941	5,161	5,050	0	0	0
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
-	-	1,070	1,091	-	1,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-