Company: BWFG
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001505732-25-000052
Chunk: 96

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7
Chunk 96
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 of the dates and for the periods presented. The selected consolidated balance sheet data as of December 31, 2024 and 2023 and the selected consolidated statement of income data for the years ended December 31, 2024 and 2023 have been derived mainly from our audited consolidated financial statements and related notes that we have included elsewhere in this Annual Report. The selected consolidated balance sheet data as of December 31, 2022, 2021, and 2020 and the selected consolidated statement of income data for the years ended December 31, 2022, 2021, and 2020 has been derived mainly from audited consolidated financial statements that are not presented in this Annual Report.

The selected historical consolidated financial data as of any date and for any period are not necessarily indicative of the results that may be achieved as of any future date or for any future period. You should read the following selected statistical and financial data in conjunction with the more detailed information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the related notes that we have presented elsewhere in this Annual Report.

31

Selected Financial DataAt or For the Years Ended December 31,20242023202220212020(f)(Dollars in thousands, except per share data)Statements of Income:Interest income$191,994 $188,454 $117,945 $81,376 $77,487 Interest expense108,712 93,986 23,202 13,490 22,652 Net interest income83,282 94,468 94,743 67,886 54,835 Provision (credit) for credit losses22,620 866 5,437 (57)7,605 Net interest income after provision for credit losses60,662 93,602 89,306 67,943 47,230 Noninterest income3,718 4,842 3,040 5,657 2,884 Noninterest expense51,051 50,401 44,363 39,739 42,813 Income before income tax13,329 48,043 47,983 33,861 7,301 Income tax expense3,559 11,380 10,554 7,275 1,397 Net income9,770 36,663 37,429 26,586 5