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Bankwell Bank

New Canaan, CT · Cert 57368 · Bankwell Financial Group Inc.

State charter, non-member · FDIC · 11 branches

Q2 2026

$3.5BAssets
$3.0BLoans
$3.0BDeposits
$355.3MEquity
Loan mix
74%RE $2.1B26%C&I $0.7B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
84%Interest-bearing $2.6B16%Noninterest $0.5BQ2 2025Q2 2026

NIM

6.01%Q2 ’246.11%Q2 ’256.06%Q2 ’26+9%+14%

Non-interest income vs. expense

1.40%Q2 ’241.66%Q2 ’251.69%Q2 ’26+11%-10%

Market Position · Bridgeport-Stamford-Danbury, CT · 2026 SOD (annual) · 3.4% share · #6 of 25 inst. · $2.7B of $77.9B

3.7% Western Connecticut
1.5% South Central Connecticut
2.2% Greater Bridgeport
0.1% Kings

Executive Summary

  • Earnings: ROA of 1.61%, up 43 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 0.54% of loans (-36 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 10.39%, down 19 bps from a year ago.
  • Funding: loans stand at 97.37% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.61%+43 bps YoY

Net Interest Margin (YTD, annualized)

3.43%+43 bps YoY

Efficiency Ratio (YTD, annualized)

44.16%-755 bps YoY

Tier 1 Leverage Ratio

10.39%-19 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.17%1.27%1.27%1.54%1.61%+43 bps
Return on Equity11.38%12.16%12.19%14.82%15.51%+413 bps
Net Interest Margin3.00%3.09%3.13%3.29%3.43%+43 bps
Efficiency Ratio51.70%49.45%48.21%48.40%44.16%-755 bps
Non-Interest Burden1.45%1.40%1.36%1.39%1.29%-15 bps
Growth
Asset Growth (YoY)2.93%2.53%2.75%5.86%7.30%+437 bps
Loan Growth (YoY)0.46%3.62%4.93%8.38%10.90%+1,044 bps
Deposit Growth (YoY)3.71%2.62%1.85%5.41%9.48%+577 bps
Asset Quality
Nonperforming Loans / Loans0.90%0.63%0.58%0.67%0.54%-36 bps
Net Charge-Offs / Loans0.00%-0.02%-0.01%0.02%0.01%+1 bps
Allowance / Loans1.10%1.10%1.08%1.03%1.04%-6 bps
Allowance Coverage of NPLs1.2x1.8x1.9x1.6x1.9x+0.7x
Capital
Tier 1 Leverage Ratio10.57%10.71%10.56%10.32%10.39%-19 bps
Total Risk-Based Capital13.28%13.48%12.94%13.00%12.70%-58 bps
Equity / Assets10.47%10.73%10.39%10.43%10.25%-22 bps
Liquidity & Funding
Loans / Deposits96.12%97.93%99.44%98.28%97.37%+125 bps
Liquid Assets / Assets10.28%9.27%6.70%6.46%5.88%-440 bps
CRE / Total Capitaln/a590%594%579%n/an/a