Bankwell Financial Group, Inc., incorporated on January 11, 2007, 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 non-member bank. The Bank provides a range of banking services to commercial and consumer customers, concentrated in the Fairfield and New Haven Counties region of Connecticut, with branch locations in New Canaan, Stamford, Fairfield, Wilton, Norwalk, Hamden and North Haven Connecticut.
Lending Activities
The Bank's lending focus is to serve commercial and middle-market businesses and their executives, high net worth individuals, not-for-profit organizations and consumers with a range of financial products and services. The Bank offers an array of commercial and retail lending products. 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 mid-sized businesses, and real estate construction and development loans. The Bank's retail lending products include residential mortgage loans, home equity lines of credit and consumer installment loans.
The Bank offers a range of commercial loans, including business term loans, equipment financing and lines of credit to small and midsized businesses. The Bank's focus commercial loan market is retail and professional establishments and small- to medium-sized businesses. The Bank offers real estate loans for commercial property that is owner-occupied, as well as commercial property owned by real estate investors. The Bank's commercial loans are secured by owner-occupied commercial real estate, and collateralized by operating cash flows. The Bank's construction portfolio includes loans to small and midsized businesses to construct owner-user properties, loans to developers of commercial real estate investment properties, and residential developments and loans to individual clients for construction of single family homes. The Bank offers first lien one- to four-family mortgage loans, as well as home equity lines of credit, on owner-occupied primary residences. The Bank also originates for resale one- to four-family mortgage loans, which are classified as loans held for sale until sold to investors. The Bank's total loans are approximately $1.1 billion.
Investment Activities
The Bank manages its investment portfolio primarily for liquidity purposes, with a secondary focus on returns through the use of a liquidity portfolio and an earnings portfolio. The Bank's investments securities are classified as available-for-sale and held to maturity. The Bank invests in a range of high-grade securities, including government agency securities, government guaranteed mortgage backed securities, corporate bonds and municipal securities. The Bank's carrying value of its investment securities portfolio totaled approximately $50.8 million.
Sources of Funds
The Bank's sources of funds include deposits, brokered certificates of deposit, Federal Home Loan Bank (FHLB) borrowings, subordinated debt and proceeds from the sales, maturities and payments of loans and investment securities. Deposits are its main source of funds to support the earning assets. The Bank offers traditional depository products, including checking, savings, money market, certificates of deposit, noninterest-bearing demand, negotiable order of withdrawal (NOW) and time deposits. The Bank's total deposits are approximately $1 billion.
208 Elm St
The company trades on NASDAQ exchange. The company headquarter is located in Connecticut, CT. The company was established in the 2002.| Ticker | BWFG |
| Long Name | Bankwell Financial Group, Inc. |
| Short Name | Bankwell Financial |