Bankwell reports record fourth quarter
Bankwell Financial Group, a regional banking company with a bank in Wilton, on Jan. 27 reported record-breaking net incomes, both for fourth quarter 2015 and for the year in review.
According to a Bankwell press release, the company brought in a net total of $2.6 million during the fourth quarter of 2015, a 260.1% increase over the same period for 2014.
For year end 2015, Bankwell reported a net income of $9 million, an increase of 97.7% from 2014.
“This was a record quarter and a strong finish to an outstanding year for Bankwell,” said Bankwell Financial Group CEO Christopher Gruseke.
“In addition to fourth-quarter net income of $2.6 million, our loan portfolio surpassed $1.1 billion as our lending team continues to generate high-quality assets for the bank.”
Also in 2015, Bankwell’s board of directors paid out the company’s first cash dividend, $0.05 per share, payable Feb. 22 to shareholders of record as late as Feb. 12.