Bankwell Financial Group, Inc. (BWFG) Balance Sheet
BWFG balance sheet, 2025
December 31, 2025 · U.S. dollars$3.36B assets = $3.06B liabilities + $301.5M equity
Both columns are drawn to the same scale: what BWFG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BWFG financial health
Descriptive bands, not a rating. Fiscal 2025.
BWFG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.63B2016 | $3.36B2025 | +8.4%/yr | |
| Total liabilities | $1.48B2016 | $3.06B2025 | +8.4%/yr | |
| Shareholders’ equity | $145.9M2016 | $301.5M2025 | +8.4%/yr | |
| Cash & short-term investments | $183.8M2016 | $227.2M2025 | +2.4%/yr | |
| Total debt | $185.1M2016 | $179.7M2025 | −0.3%/yr | |
| Net cash (debt) | −$1.3M2016 | $47.5M2025 | +$48.7M | |
| Working capital | −$1.11B2016 | $1.44B2025 | +$2.5B | |
| Book value per share | $19.482016 | $38.522025 | +7.9%/yr | |
| Debt / equity | 1.272016 | 0.602025 | −0.67 | |
| Shares outstanding | 7.5M2016 | 7.8M2025 | +0.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BWFG assets
BWFG liabilities and equity
BWFG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BWFG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $227.2M | $325.3M | $277.3M | $448.6M | $381.8M | $493.9M | $160.5M | $168.6M | $162.7M | $183.8M |
| Cash & equivalents | $224.9M | $293.6M | $267.5M | $344.9M | $291.6M | $405.3M | $78.1M | $75.4M | $70.5M | $96.0M |
| Short-term investments | $2.2M | $31.7M | $9.8M | $103.7M | $90.2M | $88.6M | $82.4M | $93.2M | $92.2M | $87.8M |
| Receivables | $2.82B | $14.5M | $14.9M | $13.1M | $7.5M | $6.6M | $6.0M | $6.4M | $5.9M | $5.0M |
| Inventory | $0 | $0 | −$2.43B | −$368.7M | −$354.5M | −$418.8M | −$84.0M | $0 | $0 | $272,000 |
| Other current assets | $0 | $0 | $2.43B | $368.7M | $354.5M | $418.8M | $84.0M | $0 | $0 | $0 |
| Total current assets | $3.05B | $339.8M | $292.2M | $461.7M | $389.3M | $500.5M | $166.4M | $174.9M | $168.6M | $188.7M |
| Property, plant & equipment (net) | $21.6M | $23.9M | $27.0M | $27.2M | $25.6M | $21.8M | $28.5M | $19.8M | $18.2M | $17.8M |
| Goodwill & intangible assets | $2.6M | $2.6M | $3.5M | $3.3M | $3.4M | $2.7M | $2.8M | $2.9M | $3.0M | $3.1M |
| Long-term investments | $192.1M | $146.1M | $127.6M | $121.6M | $108.4M | $106.9M | $1.59B | $1.59B | $1.52B | $1.34B |
| Other non-current assets | $95.8M | $2.76B | $2.77B | $2.64B | $1.93B | $1.62B | $95.6M | $89.3M | $85.9M | $75.1M |
| Total assets | $3.36B | $3.27B | $3.22B | $3.25B | $2.46B | $2.25B | $1.88B | $1.87B | $1.80B | $1.63B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | −$2.61B | $2.12B | $49.6M | $32.7M | $12.1M | $13.1M | $8.9M |
| Short-term debt | $110.0M | $92.4M | $92.1M | $92.2M | $52.3M | $176.8M | $151.9M | $135.0M | $174.0M | $135.0M |
| Deferred revenue | — | — | — | $7.4M | — | — | — | — | — | — |
| Total current liabilities | $1.61B | $2.79B | $2.74B | $7.4M | $1.69B | $1.22B | $827.3M | $1.51B | $1.41B | $1.30B |
| Long-term debt | $179.7M | $159.5M | $159.2M | $69.0M | $34.4M | $25.3M | $25.2M | $25.2M | $25.1M | $25.1M |
| Other long-term liabilities | $1.27B | $50.9M | $53.8M | $2.94B | $50.0M | $175.0M | $150.0M | $160.0M | $199.0M | $160.0M |
| Total liabilities | $3.06B | $3.00B | $2.95B | $3.01B | $84.4M | $200.3M | $175.2M | $1.70B | $1.64B | $1.48B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $120.1M | $119.1M | $118.2M | $115.0M | $118.1M | $121.3M | $120.6M | $120.5M | $118.3M | $115.4M |
| Retained earnings (deficit) | $181.6M | $152.7M | $149.2M | $123.6M | $92.4M | $70.8M | $69.3M | $54.7M | $41.3M | $29.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$216,000 | −$1.2M | −$1.7M | −$189,000 | −$8.6M | −$15.6M | −$7.5M | −$1.0M | $1.7M | $890,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $301.5M | $270.5M | $265.8M | $238.5M | $2.37B | $2.05B | $1.71B | $174.2M | $161.0M | $145.9M |
| Key figures | ||||||||||
| Total debt | $179.7M | $159.5M | $159.2M | $161.1M | $86.7M | $202.1M | $177.1M | $185.2M | $224.1M | $185.1M |
| Net cash (debt) | $47.5M | $165.8M | $118.1M | $287.5M | $295.1M | $291.9M | −$16.6M | −$16.6M | −$61.4M | −$1.3M |
| Working capital | $1.44B | −$2.45B | −$2.44B | $454.2M | −$1.30B | −$719.4M | −$660.8M | −$1.34B | −$1.24B | −$1.11B |
| Tangible book value | $298.9M | $267.9M | $262.3M | $235.1M | $2.37B | $2.05B | $1.70B | $171.3M | $158.1M | $142.8M |
| Book value per share | $38.52 | $34.96 | $34.75 | $31.21 | $305.58 | $265.02 | $219.28 | $22.40 | $20.99 | $19.48 |
| Shares outstanding | 7.8M | 7.7M | 7.6M | 7.6M | 7.8M | 7.7M | 7.8M | 7.8M | 7.7M | 7.5M |
| Current ratio | 1.89 | 0.12 | 0.11 | 62.20 | 0.23 | 0.41 | 0.20 | 0.12 | 0.12 | 0.15 |
| Quick ratio | 1.89 | 0.12 | 0.11 | 62.20 | 0.23 | 0.41 | 0.20 | 0.12 | 0.12 | 0.15 |
| Debt / equity | 0.60 | 0.59 | 0.60 | 0.68 | 0.04 | 0.10 | 0.10 | 1.06 | 1.39 | 1.27 |
| Equity / assets | 9.0% | 8.3% | 8.3% | 7.3% | 96.6% | 91.1% | 90.7% | 9.3% | 9.0% | 9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $193.6M | $211.2M | $227.2M | $317.5M | $356.3M | $313.8M | $325.3M | $384.7M | $341.9M | $353.5M | $277.3M | $354.9M |
| Cash & equivalents | $191.4M | $208.9M | $224.9M | $289.6M | $314.0M | $292.0M | $293.6M | $275.8M | $234.3M | $245.0M | $267.5M | $257.0M |
| Short-term investments | $2.3M | $2.3M | $2.2M | $27.8M | $42.3M | $21.8M | $31.7M | $108.9M | $107.6M | $108.4M | $9.8M | $97.9M |
| Receivables | $2.94B | $2.85B | $2.82B | $15.6M | $14.7M | $15.4M | $14.5M | $14.7M | $14.7M | $15.1M | $14.9M | $15.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$306.1M | −$2.40B | −$2.91B | $252.7M | −$273.7M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $306.1M | $2.40B | $2.91B | $0 | $273.7M |
| Total current assets | $3.13B | $3.06B | $3.05B | $333.1M | $371.0M | $329.2M | $339.8M | $399.4M | $356.6M | $368.6M | $292.2M | $370.5M |
| Property, plant & equipment (net) | $20.1M | $20.9M | $21.6M | $22.4M | $23.0M | $23.0M | $23.9M | $24.8M | $25.6M | $26.2M | $27.0M | $26.9M |
| Goodwill & intangible assets | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $3.5M | $2.6M |
| Long-term investments | $205.6M | $187.6M | $192.1M | $128.2M | $142.6M | $136.0M | $146.1M | $145.9M | $138.0M | $126.2M | $127.6M | $115.8M |
| Other non-current assets | $112.5M | $102.9M | $95.8M | $2.76B | $2.70B | $2.69B | $2.76B | $2.59B | $2.62B | $2.63B | $2.77B | $2.73B |
| Total assets | $3.48B | $3.37B | $3.36B | $3.24B | $3.24B | $3.18B | $3.27B | $3.16B | $3.14B | $3.16B | $3.22B | $3.25B |
| Liabilities | ||||||||||||
| Short-term debt | — | $60.0M | $110.0M | $75.0M | $75.0M | $40.0M | $92.4M | $90.0M | — | — | $92.1M | — |
| Total current liabilities | $3.00B | $60.0M | $1.61B | $2.76B | $2.76B | $2.75B | $2.79B | $2.69B | $2.66B | $2.67B | $2.74B | $2.77B |
| Long-term debt | $99.8M | $129.8M | $179.7M | $144.6M | $144.6M | $109.5M | $159.5M | $159.4M | $159.3M | $159.3M | $159.2M | $159.1M |
| Other long-term liabilities | $51.7M | $2.87B | $1.27B | $49.1M | $49.4M | $48.7M | $50.9M | $45.6M | $53.0M | $54.5M | $53.8M | $64.1M |
| Total liabilities | $3.15B | $3.06B | $3.06B | $2.95B | $2.95B | $2.91B | $3.00B | $2.89B | $2.87B | $2.89B | $2.95B | $2.99B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $122.0M | $121.1M | $120.1M | $119.4M | $118.7M | $118.4M | $119.1M | $118.4M | $118.0M | $118.4M | $118.2M | $117.2M |
| Retained earnings (deficit) | $202.1M | $191.3M | $181.6M | $174.0M | $165.5M | $158.0M | $152.7M | $151.3M | $150.9M | $151.3M | $149.2M | $142.2M |
| Accumulated other comprehensive income | −$570,000 | −$475,000 | −$216,000 | −$570,000 | −$903,000 | −$1.2M | −$1.2M | −$1.8M | −$2.0M | −$1.7M | −$1.7M | −$1.5M |
| Total shareholders' equity | $323.5M | $311.9M | $301.5M | $292.8M | $283.3M | $275.2M | $270.5M | $267.9M | $267.0M | $268.0M | $265.8M | $257.9M |
| Key figures | ||||||||||||
| Total debt | $99.8M | $129.8M | $179.7M | $144.6M | $144.6M | $109.5M | $159.5M | $159.4M | $159.3M | $159.3M | $159.2M | $159.1M |
| Net cash (debt) | $93.8M | $81.4M | $47.5M | $172.8M | $211.7M | $204.3M | $165.8M | $225.3M | $182.6M | $194.2M | $118.1M | $195.7M |
| Working capital | $134.3M | $3.00B | $1.44B | −$2.42B | −$2.39B | −$2.42B | −$2.45B | −$2.29B | −$2.31B | −$2.30B | −$2.44B | −$2.40B |
| Tangible book value | $320.9M | $309.3M | $298.9M | $290.2M | $280.7M | $272.6M | $267.9M | $265.3M | $264.4M | $265.4M | $262.3M | $255.3M |
| Book value per share | $41.07 | $39.98 | $38.37 | $37.32 | $36.34 | $35.55 | $35.01 | $34.70 | $34.46 | $34.87 | $34.74 | $33.78 |
| Shares outstanding | 7.9M | 7.8M | 7.9M | 7.8M | 7.8M | 7.7M | 7.7M | 7.7M | 7.7M | 7.7M | 7.7M | 7.6M |
| Current ratio | 1.04 | 51.00 | 1.89 | 0.12 | 0.13 | 0.12 | 0.12 | 0.15 | 0.13 | 0.14 | 0.11 | 0.13 |
| Quick ratio | 1.04 | 51.00 | 1.89 | 0.12 | 0.13 | 0.12 | 0.12 | 0.15 | 0.13 | 0.14 | 0.11 | 0.13 |
| Debt / equity | 0.31 | 0.42 | 0.60 | 0.49 | 0.51 | 0.40 | 0.59 | 0.59 | 0.60 | 0.59 | 0.60 | 0.62 |
| Equity / assets | 9.3% | 9.2% | 9.0% | 9.0% | 8.8% | 8.6% | 8.3% | 8.5% | 8.5% | 8.5% | 8.3% | 7.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 4, 2026); data from EODHD.
BWFG financial position
At the end of fiscal 2025 (December 31, 2025), Bankwell Financial had total assets of $3.4 billion (up 2.8% from a year earlier), total liabilities of $3.1 billion and shareholders' equity of $301.5 million. It held $227.2 million in cash and short-term investments against $179.7 million of debt, a net cash position of $47.5 million. Its current ratio was 1.89. In the latest quarter (ended June 30, 2026) total assets were $3.5 billion and equity $323.5 million.
Related: BWFG income statement, BWFG cash flow statement, BWFG key metrics. See the BWFG stock overview for the latest quote and news.
BWFG balance sheet FAQ
What are Bankwell Financial's total assets?
Bankwell Financial reported total assets of $3.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.3 billion a year earlier.
How much debt does Bankwell Financial have?
Bankwell Financial had $179.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.60.
How much cash does Bankwell Financial have?
Bankwell Financial held $227.2 million in cash and short-term investments at the end of fiscal 2025; with $179.7 million of debt that is net cash of $47.5 million.
What is Bankwell Financial's book value?
Bankwell Financial's shareholders' equity (book value) was $301.5 million at the end of fiscal 2025, or $38.52 per share.
What is Bankwell Financial's current ratio?
Bankwell Financial had current assets of $3.0 billion and current liabilities of $1.6 billion, a current ratio of 1.89 (it can cover its short-term obligations).
How much goodwill does Bankwell Financial have?
Bankwell Financial carried $2.6 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.