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Overview / Commentary
208 Elm Street
New Canaan, CT 06840

Bankwell Bank is headquartered in New Canaan and is the 14st largest bank in the state of Connecticut. It is also the 846th largest bank in the nation. It was established in 2002 and as of March of 2014, it had grown to 103 employees at 7 locations. Bankwell Bank has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Bankwell Bank had $6.4 million in non-current loans and owned real-estate with $69.98 million in equity and loan loss allowances on hand to cover it. This gives Bankwell Bank a Texas Ratio of 9.14% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Bankwell Bank increased slightly from 2.80% as of March 31, 2013 to 9.14% as of March 31, 2014, resulting in a negative change of 226.30%. This indicates that the balance sheet and financial strength for Bankwell Bank has declined slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Bankwell Bank has increased its total deposits by $326.83 million, resulting in 90.94% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bankwell Bank has shown is excellent.

Capitalization

GRADE:
C

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bankwell Bank has $808.86 million in assets with $69.98 million in equity, resulting in a capitalization level of 8.65%, which is average.

Institution Statistics

Overall
FDIC Certificate #57368
Year Established2002
Employees103
Primary RegulatorFDIC
Assets and Liabilities
Assets$808.86 million
Loans$646.58 million
Deposits$686.24 million
Equity Capital$61.37 million
Loan Loss Allowance$8.60 million
Unbacked Noncurrent Loans$5.57 million
Real Estate Owned$830,000
Historic Data - March 2013
Assets$476.05 million
Equity Capital$36.61 million
Loan Loss Allowance$6.11 million
Unbacked Noncurrent Loans$5.57 million
Real Estate Owned$52,000
Profit Margin - Quarterly
Net Interest Margin3.79%
Return on Assets0.79%
Return on Equity10.33%
Interest Income$7.86 million
Rates

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Locations


Bankwell Bank Locations
Cherry Street Branch156 Cherry StreetNew Canaan, CT 6840
The Bank Of New Canaan208 Elm StreetNew Canaan, CT 6840
Stamford Branch612 Bedford StreetStamford, CT 6901