Company: BWFG
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001505732-25-000052
Chunk: 101

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7
Chunk 101
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$44,363 $39,739 $42,813 Less: other real estate owned expenses707 — — — 6 Less: Amortization of intangibles— — — 76 138 Adjusted noninterest expense (numerator)$50,344 $50,401 $44,363 $39,663 $42,669 Net interest income$83,282 $94,468 $94,743 $67,886 $54,835 Noninterest income3,718 4,842 3,040 5,657 2,884 Adjustments for: gains/(losses) on sales of securities— — — — — Adjustments for: gains/(losses) on sale of other real estate owned— — — — 19 Adjusted operating revenue (denominator)$87,000 $99,310 $97,783 $73,543 $57,700 Efficiency ratio57.9 %50.8 %45.4 %53.9 %73.9 %Tangible Common Equity andTangible Common Equity/Tangible AssetsTotal shareholders’ equity$270,520 $265,752 $238,469 $201,987 $176,602 Less: preferred stock— — — — — Common shareholders’ equity270,520 265,752 238,469 201,987 176,602 Less: Intangible assets2,589 2,589 2,589 2,589 2,665 Tangible Common shareholders’ equity$267,931 $263,163 $235,880 $199,398 $173,937 Total assets$3,268,476 $3,215,482 $3,252,449 $2,456,264 $2,253,747 Less: Intangible assets2,589 2,589 2,589 2,589 2,665 Tangible assets$3,265,887 $3,212,893 $3,249,860 $2,453,675 $2,251,082 Tangible common shareholders’ equity to tangible assets8.20 %8.19 %7.26 %8.13 %7.73 %T