Bankwell Bank
New Canaan, Connecticut, Western Connecticut County
$3.5B in total assets, the 386th largest of 4,309 US banks and 3rd of 27 headquartered in Connecticut.
- FDIC certificate
- 57368
- Established
- 2002
- Owned by
- Bankwell Financial Group Inc
- Primary regulator
- FDIC
- Website
- www.mybankwell.com
At a glance
Compared with 14 banks headquartered in Connecticut with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $3.5B | 93% | $1.8B | |
| Loans | $3.0B | 93% | $1.4B | |
| Deposits | $3.0B | 93% | $1.4B | |
| Return on assets | 1.49% | 98% | 0.69% | |
| Net interest margin | 3.58% | 86% | 3.39% | |
| Efficiency ratio | 44.2% | 2% | 72.4% | |
| Equity to assets | 10.25% | 50% | 10.72% | |
| Loans to deposits | 97% | 43% | 99% |
Growth
Total assets grew 8.9% a year over the last 5 years and 8.7% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Oct 2014 | Quinnipiac Bank & Trust Company Hamden, CT | $118M |
| Nov 2013 | The Wilton Bank Wilton, CT | $70M |
| Sep 2013 | The Bank of Fairfield Fairfield, CT, an affiliate under the same holding company | $170M |
Where they operate
11 branches in 4 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Western Connecticut County, CT | $2.4B | 3.7% | 6 of 24 |
| South Central Connecticut County, CT | $316M | 1.5% | 12 of 17 |
| Greater Bridgeport County, CT | $289M | 2.2% | 10 of 16 |
| Kings County, NY | $60M | 0.1% | 34 of 41 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 1 branch since 2016 (10 to 11, +10.0%). 6 opened, 0 acquired, 5 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 10 | |||
| 2018 | Opened 3 in Connecticut | 3 | 0 | +3 | 13 |
| 2021 | Closed New Canaan | 0 | 1 | −1 | 12 |
| 2022 | Closed 3 in Connecticut | 0 | 3 | −3 | 9 |
| 2023 | Opened StamfordClosed Stamford | 1 | 1 | 0 | 9 |
| 2025 | Opened New Canaan | 1 | 0 | +1 | 10 |
| 2026 through Q2 | Opened Brooklyn | 1 | 0 | +1 | 11 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 53% | 29% | |
| Business (C&I) | 24% | 8% | |
| Multifamily | 13% | 10% | |
| Construction and land | 5% | 5% | |
| 1-4 family residential | 2% | 45% | |
| Consumer | 0% | 1% | |
| Other | 2% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 48% | 52% | |
| Time deposits | 37% | 25% | |
| Noninterest-bearing | 16% | 24% |
Brokered deposits are 16.7% of deposits (peers 2.6%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.54% | 0.41% |
| Net charge-offs, annualized | 0.01% | 0.01% |
| Reserves to loans | 1.04% | 0.98% |
| Leverage ratio | 10.39% | 11.62% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Connecticut
Largest competitors in Western Connecticut County, CT
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/bankwell