Bankwell Financial Group, Inc. reported record earnings for the third quarter of 2026, according to an 8-K filing dated October 29, 2026. The company reported GAAP net income of $12.7 million, or $1.58 per share, for the three months ended September 30, 2026. This represents an increase from the second quarter of 2026, when net income was $12.4 million, or $1.52 per share.
The company’s results included $3.0 million in non-interest expense attributed to core conversion costs incurred during the third quarter. Excluding these costs, the company reported operating net income of $15.0 million. The filing details several key financial metrics for the period ended September 30, 2026:
- Return on average assets: 1.45% (GAAP)
- Return on average tangible shareholders' equity: 15.28% (GAAP)
- Efficiency ratio: 56.1% (GAAP)
- Net interest margin: 3.71%
- Nonperforming assets: 0.20% of total assets
The company’s Board of Directors announced a quarterly cash dividend of $0.20 per share. This dividend is payable on November 20, 2026, to shareholders of record as of November 9, 2026. The filing also includes updated guidance for full-year 2026, which now expects net interest income of $119 million to $121 million and non-interest income of $14 million to $15 million.
