Bankwell Bank’s parent company reported net income of $2.1 million or $0.27 per share for the fourth quarter of 2017, versus $3.3 million or $0.43 per share for the same period in 2016, after a $3.27 million write down from tax reform.

On the year, the bank reported net income of $13.8 million or $1.78 per share, versus $12.4 million or $1.62 per share in 2016.

The New-Canaan based bank also received national recognition for its performance when Sandler O’Neill named the company to its Sm-All Star Award list for banks with a market-cap below $2.5 billion that demonstrate exceptional growth, profitability, credit quality and capital strength.

Bankwell Bank was the sole bank in Connecticut, and one of two in New England, to make the list of 29 banks selected nationally out of a total of 404 publicly traded banks that applied.

“2017 was another record year for Bankwell. In an increasingly volatile interest rate environment, we continue to improve our operating efficiencies and we vigilantly adhere to disciplined pricing on both sides of the balance sheet,” Bankwell Financial Group President and CEO Christopher R. Gruseke said in a statement. “The 2017 tax reform represents a unique opportunity for the bank and its shareholders. It will allow us to reward our shareholders, invest in the company’s growth initiatives and infrastructure, while giving back to the communities we serve.”

Total assets at the now nearly $1.8 billion asset bank grew roughly $168 million year-over-year. Total loans grew about $178 million year-over-year, while total deposits grew $109 million.

The bank’s commercial real estate portfolio grew about $126 million year-over-year, while the bank’s residential and construction books saw slight declines.

Net interest income for 2017 was about $55 million, compared to $49.7 million in 2016. The margin at the end of 2017 was 3.3 percent, down 24 basis points from the end of 2016.

Noninterest income for the year was $4.6 million, compared to $2.7 million in 2016.

The provision for loan losses in 2017 was $1.3 million, down from $3.9 million in 2016. Non-performing assets as a percentage of total assets was 0.31 percent at the end of 2017, up from 0.20 percent in 2016.