Overview / Commentary
Bankwell Bank is headquartered in New Canaan and is the 6th largest bank in the state of Connecticut. It is also the 453rd largest bank in the nation. It was established in 2002 and as of June of 2019, it had grown to 144 employees at 13 locations. Bankwell Bank's money market rates are 4X the national average, and it has a B+ health rating.
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Health
B+
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57368 |
| Year Established | 2002 |
| Employees | 144 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.32% |
| Return on Equity - YTD | 12.68% |
| Annual Interest Income | $42.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $1.86B$1.87B |
| Loans | Q2 2019vs Q2 2018 | $1.55B$1.57B |
| Deposits | Q2 2019vs Q2 2018 | $1.48B$1.47B |
| Equity Capital | Q2 2019vs Q2 2018 | $196.1MM$189.5MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $13.9MM$19.0MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $11.7MM$23.5MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $1.2MM$0 |
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Bankwell Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.75% | - | - | Smart Savings |
Bankwell Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.65% | - | - | Smart Money Market | ||
| 1.40%* | $250k* | - | Smart Business Money Market | ||
| OTHER TIERS: 1.25% → Up to $250k | |||||
Bankwell Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.15% | - | - | Smart Checking |
Bankwell Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.90% | $1k | - | 18 Month CD | |
| 1.80% | $1k | - | 12 Month CD |
