Bankwell financial director Carl Porto buys $13,214 in stock

Following this acquisition, Porto holds a total of 19,560 shares in indirect ownership under a Deferred Compensation Plan. Additionally, Porto maintains various other holdings in the company, including direct ownership of 20,465 shares and indirect ownership of 4,303 shares through a Law Firm Pension Plan. The stock has shown resilience with a 22.27% return over the past year, trading at 0.84 times book value. InvestingPro subscribers can access additional insights, including earnings forecasts and financial health metrics. The stock has shown resilience with a 22.27% return over the past year, trading at 0.84 times book value. InvestingPro subscribers can access additional insights, including earnings forecasts and financial health metrics.

Following this acquisition, Porto holds a total of 19,560 shares in indirect ownership under a Deferred Compensation Plan. Additionally, Porto maintains various other holdings in the company, including direct ownership of 20,465 shares and indirect ownership of 4,303 shares through a Law Firm Pension Plan.

In other recent news, Bankwell Financial Group (NASDAQ:BWFG) reported a notable increase in its fourth-quarter earnings, announcing a GAAP net income of $2.5 million, or $0.32 per share, up from $1.9 million, or $0.24 per share, in the previous quarter. The company’s board declared a $0.20 per share cash dividend, payable on February 21, 2025, to shareholders of record as of February 11, 2025. Despite the earnings increase, the pre-tax, pre-provision net revenue saw a 12% decline to $7.9 million from $9.0 million in the third quarter. Bankwell Financial Group also amended an agreement with investor Lawrence B. Seidman, allowing him and his affiliates to acquire up to 14.99% of the company’s fully diluted outstanding common stock, up from the previous limit of 9.9%. The amendment removes previous conditions related to the tangible book value per share and stock price, indicating a shift in the company’s shareholder ownership approach. Bankwell Financial Group has launched a new SBA (LON:SBA) lending division, anticipating growth in noninterest income from future gains on the sale of guaranteed portions of new SBA loans. The company projects net interest income of $93-$95 million and noninterest income of $7-$8 million for the full year 2025. Bankwell’s asset quality has improved, with a decrease in nonperforming loans and a stable allowance for credit losses, while total assets rose by 1.7% year over year to $3.3 billion as of December 31, 2024.

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