Bankwell Financial Group, Inc. (BWFG) SEC Filings & Earnings Calls

Office CRE concentration risk

“As of June 30, 2026, the Bank had $137.1 million of loans collateralized by offices, which represented 4.6% of the total loan portfolio.” · word for word

Interest rate risk from deposit repricing

“Depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment.” · word for word

Brokered deposit reliance

“Brokered certificates of deposits totaled $453.0 million at June 30, 2026 and $505.0 million at December 31, 2025, respectively.”

Commercial real estate concentration

“Commercial real estate loans represent 66.2% of total loans.”

Office loan exposure

“As of March 31, 2026, the Bank had $154.1 million of loans collateralized by offices, which represented 11.9% of the total loan portfolio.” · word for word

Nonaccrual loan increase

“Nonaccrual loans totaled $19.0 million at March 31, 2026 and $16.3 million at December 31, 2025.” · word for word

Interest rate risk

“The net interest income at risk simulation results indicate that, as of March 31, 2026, we remain liability sensitive.” · word for word

Net interest margin compression due to lower portfolio yields and day count.

“Net Interest Margin was 3.28% for the first quarter of 2026, compared to 3.40% for the quarter ended December 31, 2025.” · word for word

Non-interest expense increased $1.4M sequentially due to timing.

“Results for the quarter include a sequential increase to the Company’s non-interest expense of approximately $1.4 million.” · word for word

Time deposit repricing risk: $1,128M maturing over 12 months at 3.99% weighted average rate.

“Approximately $1,128 million of time deposits are scheduled to mature over the next 12 months at a weighted average rate of 3.99%.” · word for word

Office Loan Exposure

“As of December 31, 2025, the Bank had $163.0 million of loans collateralized by offices, which represented 8.4% of the total loan portfolio.” · word for word

Interest Rate Risk

“The table presents interest rate sensitivity of loans due after one year; $724M adjustable vs $985M fixed rate.”

Geographic Concentration

“Loan portfolio is mainly concentrated in the Northeast; the Company noted this in its ACL methodology.”

One-time income tax expense of $1.5M related to state tax adjustments due to expanded footprint.

“Reported fourth quarter 2025 GAAP net income reflects $1.5 million of one-time income tax expense related to adjustments to the income tax provision, primarily due to finalization of state tax filings and changes in estimated tax positions associated with the Company’s expanded state-level footprint.”

Expense growth outpacing revenue growth

“Noninterest expense increased by $1.8 million to $14.6 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.” · word for word

Concentration in commercial real estate

“Commercial real estate loans represent 69.8% of total loans at September 30, 2025.”

Interest rate risk from asset sensitivity

“The change in sensitivity between September 30, 2025 and December 31, 2024 was impacted by an increase in variable-rate loans.” · word for word