--- title: "Bankwell Financial | 10-Q: FY2026 Q1 Revenue: USD 53.88 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285413127.md" datetime: "2026-05-06T16:51:30.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285413127.md) - [en](https://longbridge.com/en/news/285413127.md) - [zh-HK](https://longbridge.com/zh-HK/news/285413127.md) --- # Bankwell Financial | 10-Q: FY2026 Q1 Revenue: USD 53.88 M Revenue: As of FY2026 Q1, the actual value is USD 53.88 M. EPS: As of FY2026 Q1, the actual value is USD 1.41, beating the estimate of USD 1.2233. EBIT: As of FY2026 Q1, the actual value is USD -12.52 M. #### Overall Company Performance #### Revenue and Net Income Revenues (net interest income plus noninterest income) for the quarter ended March 31, 2026, were $30.2 million, an increase from $23.6 million for the quarter ended March 31, 2025. Net income available to common shareholders was $11.3 million for the three months ended March 31, 2026, compared to $6.9 million for the same period in 2025. #### Profitability Ratios Returns on average shareholders’ equity for the three months ended March 31, 2026, were 14.88%, up from 10.16% for the three months ended March 31, 2025. Returns on average assets were 1.35% for the three months ended March 31, 2026, compared to 0.86% for the same period in 2025. #### Net Interest Income (FTE Basis) FTE net interest income was $27.0 million for the three months ended March 31, 2026, compared to $22.2 million for the three months ended March 31, 2025. FTE interest income increased by $2.0 million, or 4.2%, to $50.6 million for the three months ended March 31, 2026. Interest expense decreased by $2.8 million in the same period. #### Interest and Dividend Income by Category - **Interest and fees on loans**: $46,787 thousand for Q1 2026 vs. $43,475 thousand for Q1 2025. - **Interest and dividends on securities**: $1,784 thousand for Q1 2026 vs. $1,445 thousand for Q1 2025. - **Interest on cash and cash equivalents**: $1,965 thousand for Q1 2026 vs. $3,557 thousand for Q1 2025. #### Interest Expense by Category - **Interest expense on deposits**: $21,930 thousand for Q1 2026 vs. $24,772 thousand for Q1 2025. - **Interest expense on borrowings**: $1,720 thousand for Q1 2026 vs. $1,639 thousand for Q1 2025. #### Noninterest Income Total noninterest income increased by $1.8 million to $3,343 thousand for the three months ended March 31, 2026, from $1,505 thousand for the same period in 2025. **Gains and fees from sales of loans**: $2,425 thousand for Q1 2026 vs. $442 thousand for Q1 2025 (Favorable change of $1,983 thousand). **Bank-owned life insurance**: $358 thousand for Q1 2026 vs. $344 thousand for Q1 2025 (4.1% increase). **Service charges and fees**: $780 thousand for Q1 2026 vs. $602 thousand for Q1 2025 (29.6% increase). **Other noninterest income**: - $220 thousand for Q1 2026 vs. $117 thousand for Q1 2025 (Unfavorable change of - $337 thousand). #### Noninterest Expense Total noninterest expense increased by $2.7 million to $16.9 million for the three months ended March 31, 2026, from $14.1 million for the same period in 2025. **Salaries and employee benefits**: $9,830 thousand for Q1 2026 vs. $7,052 thousand for Q1 2025 (39.4% increase). **Occupancy and equipment**: $2,705 thousand for Q1 2026 vs. $2,575 thousand for Q1 2025 (5.0% increase). **Professional services**: $1,393 thousand for Q1 2026 vs. $1,529 thousand for Q1 2025 (-8.9% decrease). **Data processing**: $716 thousand for Q1 2026 vs. $885 thousand for Q1 2025 (-19.1% decrease). **FDIC insurance**: $543 thousand for Q1 2026 vs. $779 thousand for Q1 2025 (-30.3% decrease). #### Provision for Credit Losses The credit for credit losses for the three months ended March 31, 2026, was - $1.0 million, compared to a provision for credit losses of $0.5 million for the three months ended March 31, 2025. #### Loan Portfolio Composition Total gross loans increased by $26.5 million, or 0.9%, to $2.9 billion at March 31, 2026, compared to December 31, 2025. **Residential Real Estate**: - $3,011 thousand change to $30,128 thousand at March 31, 2026. **Commercial Real Estate**: - $34,414 thousand change to $1,896,565 thousand at March 31, 2026, with non-owner occupied at $1,086,481 thousand (57.29% of CRE) and owner occupied at $810,084 thousand (42.71% of CRE). **Construction**: $2,048 thousand change to $155,826 thousand at March 31, 2026. **Commercial Business**: $77,951 thousand change to $723,272 thousand at March 31, 2026. **Consumer**: - $16,028 thousand change to $60,827 thousand at March 31, 2026. #### Allowance for Credit Losses (ACL-Loans) ACL-Loans decreased to $29,580 thousand at March 31, 2026, from $30,705 thousand at December 31, 2025. #### Nonaccrual Loans Total nonaccrual loans increased to $19,036 thousand at March 31, 2026, from $16,304 thousand at December 31, 2025. #### Capital Ratios (Bankwell Bank) as of March 31, 2026 - **Common Equity Tier 1 Capital to Risk-Weighted Assets**: 11.97% (Actual) vs. 7.00% (Minimum for Capital Adequacy plus Buffer). - **Tier I Capital to Risk-Weighted Assets**: 11.97% (Actual) vs. 8.50% (Minimum for Capital Adequacy plus Buffer). - **Total Capital to Risk-Weighted Assets**: 13.00% (Actual) vs. 10.50% (Minimum for Capital Adequacy plus Buffer). - **Tier I Capital to Average Assets**: 10.32% (Actual) vs. 4.00% (Minimum for Capital Adequacy). #### Capital Ratios (Bankwell Financial Group, Inc.) as of March 31, 2026 - **Common Equity Tier 1 Capital to Risk-Weighted Assets**: 10.59% (Actual) vs. 4.50% (Minimum for Capital Adequacy). - **Tier I Capital to Risk-Weighted Assets**: 10.59% (Actual) vs. 6.00% (Minimum for Capital Adequacy). - **Total Capital to Risk-Weighted Assets**: 14.01% (Actual) vs. 8.00% (Minimum for Capital Adequacy). - **Tier I Capital to Average Assets**: 9.13% (Actual) vs. 4.00% (Minimum for Capital Adequacy). #### Outlook and Strategy Bankwell Financial Group, Inc. aims to be a preferred banking provider by offering an alternative to larger institutions, leveraging strategic market reach, experienced leadership, and disciplined risk management. 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