Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 14

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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(2,600)— — — — Issuance of restricted stock1,059 — — — — Stock options exercised— — — — — Repurchase of common stock(40,140)(986)— — (986)Balance at June 30, 20247,866,499 $118,037 $150,895 $(1,956)$266,976 

See accompanying notes to consolidated financial statements (unaudited)

7

Bankwell Financial Group, Inc.

Consolidated Statements of Shareholders' Equity - (unaudited)

(In thousands, except share data)

Number of Outstanding SharesCommon StockRetained EarningsAccumulated Other Comprehensive (Loss) IncomeTotalBalance at December 31, 20247,859,873 $119,108 $152,656 $(1,244)$270,520 Net income— — 15,976 — 15,976 Other comprehensive income, net of tax— — — 341 341 Cash dividends declared ($0.40 per share)— — (3,137)— (3,137)Stock-based compensation expense— 924 — — 924 Forfeitures of restricted stock(14,710)— — — — Issuance of restricted stock72,774 — — — — Stock options exercised— — — — — Repurchase of common stock(44,550)(1,334)— — (1,334)Balance at June 30, 20257,873,387 $118,698 $165,495 $(903)$283,290 

Number of Outstanding SharesCommon StockRetained EarningsAccumulated Other Comprehensive (Loss) IncomeTotalBalance at December 31, 20237,882,616 $118,247 $149,169 $(1,664)$265,752 Net income— — 4,881 — 4,881 Other comprehensive (loss), net of tax— — — (292)(292)Cash dividends declared ($0.40 per share)— — (3,155)— (3,155)Stock-based compensation expense— 1,696 — — 1,696 Forfeitures of restricted stock(2,700)— — — —