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
4Q22 & 2022 Performance
Trends
Credit Quality & ALLL
Loan Portfolio
Capital
Bankwell History & Overview
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4Q22 & 2022 Performance
BWFG | LISTED | NASDAQ
BWFG
LISTEDBWFG LISTED
NASDAQNASDAQ
4Q22 Summary
Reported Net Income of $8.02 million, or $1.04 earnings per share (EPS) for the quarter, and $37.43 million, or $4.79 earnings per share for the full year
Full year Operating EPS of $4.29 excludes previously reported items of elevated fees associated with loan prepayments ($0.25 EPS) and changes in the allowance for loan loss ($0.25 EPS)
Reported Return on Average Assets (ROAA) and Return on Average Equity (ROAE) were 1.07% and 13.38%, respectively for the quarter, and 1.44% and 16.72% for the full year
Full year Operating ROAA and ROAE were 1.29% and 14.98%, respectively, excluding the previously reported items above
Reported Pre-tax,Pre-provision Net Revenue ("PPNR")1 of $14.87 million, or 1.98% PPNR ROAA for the quarter, and $53.42 million, or 2.05% PPNR ROAA for the full year
Full year Operating PPNR of $50.92 million, or 1.96% PPNR ROAA, excluding the previously reported elevated fees
Record loan growth of $389 million in the quarter, with year-to-date loan growth of $781 million, or 41%
‒ Loans funded at a weighted average yield of 7.23% during the quarter
Quarterly Net Interest Margin ("NIM") of 3.70%, year-to-date NIM of 3.78%
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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2 Core deposit (Commercial and Consumer checking, savings and money market accounts) growth from 9/30/2022 through 01/10/2023
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Bankwell Financial Group Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 21:52:12 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. 
