Bankwell Financial Q1 revenue beats on core deposit growth

Bankwell Financial

22/04/2026 21:10

Overview

US commercial bank's Q1 revenue grew and beat analyst expectations

EPS for Q1 rose to $1.41 from $1.15 in prior qtr

Noninterest expense increased due to new hires and seasonal compensation costs

Outlook

Bankwell raises 2026 non-interest income guidance to $12-$13 mln, citing improved SBA gains and fees

Company maintains 2026 non-interest expense guidance at $64-$65 mln

Bankwell affirms prior guidance for 2026 net interest income and loan growth

Result Drivers

CORE DEPOSIT GROWTH - Co said $113 mln sequential core deposit growth funded loan growth and reduced wholesale reliance

SBA LOAN ORIGINATIONS - Co said SBA division executed measured, profitable growth with $34 mln originations in Q1

NONINTEREST EXPENSES - Co said higher noninterest expense reflected new hires and seasonal compensation costs

Company press release: ID:nBw5BWjHHa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$30.23 mln
$29.46 mln (3 Analysts)
Q1 EPS
$1.41
Q1 Net Income
$11.30 mln
Q1 Net Interest Income
$26.89 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Bankwell Financial Group Inc is $52.00, about 2.2% above its April 21 closing price of $50.90

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)