Bankwell Bank
New Canaan, Connecticut · $3.47B in assets · beside the 11 other New England banks between $3B and $10B (the state alone holds too few in the band to rank)
The filing
Bankwell Bank is the third largest of the 12 New England banks nearest its size between $3B and $10B, with $3.47B in assets at 30 June 2026. Loans are 97.4% of deposits, 6th of 12 against a median of 98.8%, and equity is 10.2% of assets, 6th of 12. Loans grew +10.9% in the year, the fastest in the cohort, and deposits grew 9.5%; the cohort's median loan growth is +4.8%.
Noncurrent loans are 0.54% of the book, 3rd of 12 against a median of 0.61%; 0.09% is 30 to 89 days past due, and the allowance covers them 1.9 times. Commercial real estate is 42.9% of loans, 9th of 12 against a median of 37.1%, and 331% of capital, above the 300% screen, with construction at 40% against the 100% screen.
Return on assets is 1.61%, 2nd of 12 against a median of 1.02%, on an efficiency ratio of 44.2%, 2nd of 12. Five years ago it was 1.25%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 28.2% of loans).
SBA 7(a), FY2008 to FY2026
Bankwell Bank is the 116th largest 7(a) lender into Texas of 706, with $69M across 40 loans, 0.2% of everything approved in the state (Live Oak Banking Company leads with $2.53B). 24 of its 129 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| New Haven, CT | $24M | 6th of 100 | 5.1% | thin |
| Fairfield, CT | $23M | 7th of 94 | 3.8% | quiet FY2019 |
| Los Angeles, CA | $11M | 119th of 308 | 0.1% | -0.2 pts |
| Palm Beach, FL | $10M | 50th of 195 | 0.4% | quiet FY2022 |
| Albany, NY | $10M | 7th of 76 | 3.0% | thin |
| Miami-Dade, FL | $9M | 69th of 215 | 0.2% | thin |
| Fort Bend, TX | $8M | 49th of 180 | 0.5% | thin |
| Collin, TX | $8M | 74th of 261 | 0.3% | thin |
| Travis, TX | $8M | 64th of 239 | 0.3% | -0.3 pts |
| Middlesex, NJ | $8M | 45th of 150 | 0.6% | thin |
| Hillsborough, FL | $8M | 56th of 195 | 0.4% | thin |
| Kent, RI | $8M | 12th of 64 | 2.8% | thin |
| Martin, FL | $7M | 14th of 88 | 2.1% | thin |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Finance & insurance | 78 | $157M | 43.8% | 2.20% | 8th of 1,111 |
| Health care & social assistance | 37 | $39M | 10.8% | 0.08% | 158th of 2,172 |
| Accommodation & food services | 44 | $24M | 6.6% | 0.03% | 350th of 2,596 |
| Manufacturing | 28 | $20M | 5.5% | 0.05% | 305th of 2,246 |
| Retail trade | 42 | $19M | 5.3% | 0.03% | 322nd of 2,589 |
Commercial real estate against capital
| Bankwell Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 331% | 10th of 12 | 271% |
| Construction against capital, the 100% screen | 40% | 7th of 12 | 40% |
| Construction and land development, share of loans | 5.2% | 6th of 12 | 5.2% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 24.9% | 8th of 12 | 19.8% |
| Total CRE, the guidance definition, share of loans | 42.9% | 9th of 12 | 37.1% |
| CRE growth over 36 months, the third prong | -9.4% | 1st of 12 | +15.5% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $4.62B | 0.4% | 72.0% | 0.57% | 0.21% | 0.6% | 100.3% | 8.9% | |
| $4.56B | 1.2% | 36.3% | 0.78% | 0.00% | 0.8% | 150.5% | 11.1% | |
| $3.47B | 1.6% | 44.2% | 0.54% | 0.01% | 1.0% | 97.4% | 10.2% | |
| $3.38B | 1.9% | 47.1% | 2.07% | 0.07% | 2.2% | 102.9% | 14.1% | |
| $3.32B | 1.0% | 60.9% | 0.58% | 0.12% | 0.5% | 92.7% | 14.7% | |
| $3.30B | 0.8% | 69.7% | 0.29% | -0.01% | 1.0% | 93.6% | 9.9% | |
| $3.26B | 0.6% | 77.5% | 0.60% | 0.06% | 0.9% | 103.5% | 14.4% | |
| $3.18B | 1.2% | 51.3% | 0.75% | 0.20% | 1.0% | 90.4% | 8.3% | |
| $3.15B | 1.3% | 68.7% | 1.80% | 0.08% | 0.7% | 105.0% | 13.7% | |
| $3.11B | 1.0% | 58.1% | 0.62% | 0.01% | 1.4% | 83.6% | 7.6% | |
| $3.07B | 0.6% | 69.7% | 0.95% | 0.02% | 1.0% | 101.9% | 9.9% | |
| $3.03B | 0.5% | 83.9% | 0.15% | 0.01% | 0.8% | 95.8% | 8.5% |
| Bankwell Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $1.74B | $2.96B | +70% | $1.77B | $2.51B | +42% |
| Deposits | $1.95B | $3.04B | +56% | $2.18B | $2.63B | +21% |
| NPA / loans | 1.57% | 0.54% | -1.03 pts | 0.58% | 0.61% | +0.03 pts |
| Efficiency | 49.7% | 44.2% | -5.6 pts | 64.4% | 64.8% | +0.4 pts |
| ROA | 1.25% | 1.61% | +0.35 pts | 1.17% | 1.02% | -0.16 pts |
This read was prepared for Bankwell Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Bankwell Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort New England banks $3B to $10B
Institution www.mybankwell.com
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