Bankwell reports record second-quarter net income

Bankwell Financial Group, Inc. (NASDAQ: BWFG) reported GAAP net income of $3.8 million or $0.49 per share for the second quarter of 2017, versus $2.9 million or $0.38 per share for the same period in 2016.

The company's Board of Directors declared a $0.07 per share cash dividend, payable Aug. 25, to shareholders of record on Aug. 15, 2017.

Bankwell Financial Group President and CEO Christopher R. Gruseke said the bank sustained steady momentum in all aspects of business. “Loan demand remains robust, with gross loan fundings of $83 million for the second quarter,” he said. Meanwhile, the  credit quality continues to be exceptional as non-performing assets stood at 0.31% of total assets.

Bankwell is based in New Canaan and has a branch in Wilton.