Bankwell Bank

Headquarters

208 Elm St
New Canaan, CT 06840
See all branch locations →

Notable Rates APY Vs.Others
Savings 1.26% 2.55% →
1-Year CD N.A. 2.85% →
2-Year CD N.A. 3.20% →
5-Year CD N.A. 3.65% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

Bankwell Bank is an FDIC insured institution located in New Canaan, CT. It was founded in 2002 and has approximately $2.49 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 57368
Date Established 2002
Assets $ 2.49 billion
Loans $ 1,964.57 million
Deposits $ 2.17 billion
Capital $ 240.78 million
 

For a more detailed analysis of Bankwell Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 16, 2022

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
1.26% $100 - Learn More
CD Rates APY MIN MAX
18 Month CD
0.55% $1,000 - Learn More
36 Mo CD
2.28% $1,000 - Learn More

Int Checking Rates APY MIN MAX
INTCK
0.15% $100 - Learn MoreShow Less
 

Loan Rates - August 16, 2022

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Bankwell Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2022

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Payment
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5.202% 5.125%
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$2,180 fees
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4.687% 4.625%
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Featured - Connecticut Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More

Note to Bankwell Bank
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Branches

Bankwell Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Bankwell Bank Locations



Climate Initiatives

Bankwell Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Bankwell Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bankwell Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bankwell Bank U.S. Bank Average
6.21% 4.01%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2022, Bankwell Bank had $16,020,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $240,784,000 in equity and $17,141,000 in loans loss reserves. That gives it a Texas Ratio of 6.21%.

Return on Equity
Bankwell Bank U.S. Bank Average
15.8% 9.01%

Bankwell Bank has a Return on Equity of 15.8% versus the BestCashCow average of 9.01%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Bankwell Bank U.S. Bank Average
9.66% 10.66%

Bankwell Bank has a Capitalization of 9.66% versus the BestCashCow average of 10.66. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bankwell Bank Balance Sheet Analysis

As of March 31, 2022, Bankwell Bank had assets of $2,493,815,000, loans of $1,964,567,000, and deposits of $2,170,062,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2022
ASSETS
Cash & Balances due from depository institutions $ 280.56 million
Interest-bearing balances $ 273.66 million
Total securities $ 116.80 million
Federal funds sold and reverse repurchase $ 19.02 million
Net loans and leases $ 1,964.57 million
Loan loss allowance $ 17.14 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 3.38 million
All other assets $ 84.39 million
     Total Assets $ 2.25 billion
LIABILITIES
Total deposits $ 2.17 billion
      Interest-bearing deposits $ 1,756.99 million
      Deposits held in domestic offices $ 2.17 billion
      % insured (estimated) 60.66%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 64.82 million
Subordinated debt N.A.
All other liabilities $ 18.15 million
      Total Liabilities $ 2.25 billion
      Shareholders’ Equity $ 240.78 million

Summary Income Statement

March 31, 2022
INCOME AND EXPENSES
Total Interest Income $ 22.30 million
Total Interest Expense $ 2.48 million
Net interest income $ 19.82 million
Provision for loan and lease losses $ 0.23 million
Total non interest income $ 1.04 million
Total non interest expense $ 8.81 million
Pre-tax Net Operating Income $ 11.82 million

Bank Loan Profile?

The top three loan types in Bankwell Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Multifamily Mortgages.

Compared to other banks in Connecticut, Bankwell Bank has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 4.06
Multifamily
Mortgages
8.55
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 2.89
Construction and Development Loans 5.84
Commercial Real Estate 63.31
Commercial and Industrial Loans 18.84
Farm Loans 0.00

Customer Reviews for Bankwell Bank


  • March 25, 2019

    Lousy bank with badly trained customer service reps and below average rates. Can't wait until my CD matures to get the funds out of Bankwell

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