New Canaan-based Bankwell Bank said its third-quarter net income improved from the same quarter a year ago mainly on the reduction of its provision of credit losses, freeing up money to contribute to profitability.
New Canaan-based Bankwell Bank and Lakeville-based Salisbury Bank saw second quarter earnings improve compared to the same quarter last year, and both banks increased their quarterly shareholder dividend.
As Russell’s U.S. stock indexes go through their annual shakeup this month, two Connecticut banks could be dropped from the Russell 3000 index.
Two of Connecticut’s stock banks continued to show improvements in COVID-related loan deferrals.
New Canaan-based Bankwell Bank will see a one-time $3.9 million charge in its fourth quarter results, due in part to the bank’s plans to move to a new headquarters and terminate a technology vendor.
A new analysis from investment bank Keefe, Bruyette & Woods shows that small- and mid-cap stock banks in the Northeast had similar credit quality during the first quarter as other SMID banks in the broader group that KBW analyzes.
Belfonti Cos. says it has broken ground on a $50 million dollar market-rate, luxury apartment home community in Cromwell. The 160-unit complex will be built just off Country Squire Road near Route 372.
The cost of deposits and lower loan balances drove third-quarter earnings down 16 percent for Bankwell Financial Group Inc., compared to the same period last year.
Bankwell Bank said in a regulatory filing yesterday that Heidi DeWyngaert, who is also executive vice president, will leave her post after 15 years on the job.
Growth at the parent company of New Canaan-based Bankwell Bank was minimal in the third quarter, as the company reported net income of $4.9 million, or $0.62 per share, compared to $4.3 million or $0.55 per share for the same period in 2017.
The parent company of New Canaan-based Bankwell Bank saw a solid increase on profits in the first quarter, but also reported an unexpected increase in its efficiency ratio and in non-performing loans.
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.
Bankwell Financial Group, the parent company of New Canaan-based Bankwell Bank, is coming off a strong quarter after receiving national recognition.
New Canaan-based Bankwell Bank has received national recognition for its performance over the last year.
