Company: BWFG
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001505732-25-000052
Chunk: 55

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 8
Chunk 55
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Bankwell Financial Group, Inc.

Consolidated Statements of Shareholders’ Equity

(In thousands, except share data)Number ofOutstandingSharesCommonStockRetainedEarningsAccumulatedOtherComprehensiveIncome (Loss)TotalBalance at December 31, 20227,730,699 $115,018 $123,640 $(189)$238,469 Balance as of January 1, 2023 as adjusted for changes in accounting principle— — (4,893)— (4,893)Balance as of January 1, 2023 as adjusted for changes in accounting principle7,730,699 115,018 118,747 (189)233,576 Net income— — 36,663 — 36,663 Other comprehensive income, net of tax— — — (1,475)(1,475)Cash dividends declared ($0.80 per share)— — (6,241)— (6,241)Stock-based compensation expense— 3,074 — — 3,074 Issuance of restricted stock158,675 — — — — Forfeitures of restricted stock(15,438)— — — — Stock options exercised8,680 155 — — 155 Repurchase of common stock— — — — — Balance at December 31, 20237,882,616 118,247 149,169 (1,664)265,752 Net income— — 9,770 — 9,770 Other comprehensive income, net of tax— — — 420 420 Cash dividends declared ($0.80 per share)— — (6,283)— (6,283)Stock-based compensation expense— 2,998 — — 2,998 Issuance of restricted stock67,509 — — — — Forfeitures of restricted stock(4,262)— — — — Stock options exercised— — — — — Repurchase of common stock(85,990)(2,137)— — (2,137)Balance at December 31, 20247,859,873 $119,108 $152,656 $(1,244)$270,520 

See Notes to Consolidated Financial Statements