This presentation may contain certain forward-looking statements about Bankwell Financial Group, Inc. (the "Company"). Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and its subsidiaries are engaged. The COVID-19 pandemic continues to affect Bankwell Financial Group, its customers, counterparties, employees, and third party service providers, and the ultimate extent of the impacts on its business, financial position, results of operations, liquidity, and prospects is unknown.
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LISTED NASDAQ
Table of Contents
BWFG
BWFG LISTED
NASDAQ
3Q21 Performance
Trends
ALLL & Non-Performing Loans
Loan Portfolio
Capital
Bankwell History & Overview
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3Q21 Performance
BWFG | LISTED | NASDAQ
BWFG
LISTEDBWFG LISTED
NASDAQNASDAQ
3Q21 Summary
$6.85 million reported net income, or $0.87 earnings per share
Pre-tax,pre-provision net revenue ("PPNR")1 of $8.79 million; 96% year-over-year increase
Quarterly loan growth of $92 million, or 5%, excluding PPP loan balances
Year-to-datetotal loan growth of ~$232 million, or 19% annualized
Return on Average Assets and Return on Average Equity were 1.22% and 14.09%, respectively for the quarter, and 1.12% and 13.29% year-to-date
8 basis point linked quarter deposit cost reduction to 50 basis points
3Q21 Net Interest Margin ("NIM") of 3.39%, year-to-date NIM of 3.08%
Repurchased 52,277 shares at an average price of $27.26 per share
Authorized an additional 200 thousand shares, for a total of ~376 thousand shares available for repurchase
The Company declared a 4Q21 dividend of $0.18 per share
Subsequent to September 30th, 2021, Bankwell issued $35 million of subordinated notes at 3.25%; proceeds will be used for:
Repayment of $15.5 million of existing subordinated notes
General corporate purposes
1 Pre-tax,pre-provision net revenue per share is a non-GAAP metric & excludes provision for loan losses and income tax expense
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Bankwell Financial Group Inc. published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 20:45:00 UTC.
Bankwell Financial Group, Inc. is a bank holding company. The Company offers a range of financial services through its banking subsidiary, Bankwell Bank (the Bank). The Bank is a Connecticut state chartered commercial bank. The Bank's commercial lending products include owner-occupied commercial real estate loans, commercial real estate investment loans, commercial loans (such as business term loans, equipment financing and lines of credit) to small and medium-sized businesses and real estate construction and development loans. Its depository products include checking, savings, money market and certificates of deposit at a variety of rates. The Bank operates nine branches in New Canaan, Stamford, Fairfield, Westport, Darien, Norwalk, and Hamden, Connecticut. The Bank provides a range of services to clients in its market, an area encompassing approximately a 100-mile radius around its branch network.
BANKWELL FINANCIAL GROUP, INC. 
