Bankwell Financial Group Management

Management criteria checks 3/4

Bankwell Financial Group's CEO is Chris Gruseke, appointed in Feb 2015, has a tenure of 9.25 years. total yearly compensation is $1.46M, comprised of 43.1% salary and 56.9% bonuses, including company stock and options. directly owns 2.65% of the company’s shares, worth $4.86M. The average tenure of the management team and the board of directors is 1.1 years and 8 years respectively.

Key information

Chris Gruseke

Chief executive officer

US$1.5m

Total compensation

CEO salary percentage	43.1%
CEO tenure	9.3yrs
CEO ownership	2.6%
Management average tenure	1.1yrs
Board average tenure	8yrs

Recent management updates

Recent updates

Bankwell Financial: The Loan Book Is Heavily Geared Towards CRE And Commercial Loans

Mar 22

Bankwell Financial Group (NASDAQ:BWFG) Will Pay A Larger Dividend Than Last Year At US$0.20

Jan 30

Bankwell Financial Group's (NASDAQ:BWFG) Shareholders Will Receive A Bigger Dividend Than Last Year

Aug 05

CEO Compensation Analysis

How has Chris Gruseke's remuneration changed compared to Bankwell Financial Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$29m
Dec 31 2023	US$1m	US$630k	US$36m
Sep 30 2023	n/a	n/a	US$35m
Jun 30 2023	n/a	n/a	US$35m
Mar 31 2023	n/a	n/a	US$39m
Dec 31 2022	US$2m	US$600k	US$37m
Sep 30 2022	n/a	n/a	US$36m
Jun 30 2022	n/a	n/a	US$34m
Mar 31 2022	n/a	n/a	US$29m
Dec 31 2021	US$1m	US$600k	US$26m
Sep 30 2021	n/a	n/a	US$19m
Jun 30 2021	n/a	n/a	US$15m
Mar 31 2021	n/a	n/a	US$10m
Dec 31 2020	US$2m	US$600k	US$6m
Sep 30 2020	n/a	n/a	US$9m
Jun 30 2020	n/a	n/a	US$10m
Mar 31 2020	n/a	n/a	US$14m
Dec 31 2019	US$998k	US$550k	US$18m
Sep 30 2019	n/a	n/a	US$18m
Jun 30 2019	n/a	n/a	US$19m
Mar 31 2019	n/a	n/a	US$18m
Dec 31 2018	US$1m	US$550k	US$17m
Sep 30 2018	n/a	n/a	US$16m
Jun 30 2018	n/a	n/a	US$15m
Mar 31 2018	n/a	n/a	US$15m
Dec 31 2017	US$798k	US$550k	US$14m

Compensation vs Market: Chris's total compensation ($USD1.46M) is about average for companies of similar size in the US market ($USD1.63M).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.

CEO

Chris Gruseke (63 yo)

9.3yrs

Tenure

US$1,462,411

Compensation

Mr. Christopher R. Gruseke, also known as Chris, has been Chief Executive Officer of Bankwell Financial Group, Inc. and Bankwell Bank since February 27, 2015. Mr. Gruseke has been President of Bankwell Fin...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Blake Drexler	Executive Chairman	17.3yrs	US$261.99k	3.35% $ 6.1m
Christopher Gruseke	President	9.3yrs	US$1.46m	2.65% $ 4.9m
Christine Chivily	Executive VP & Chief Credit Officer	no data	US$605.60k	0.45% $ 824.7k
Matthew McNeill	Executive VP & Chief Banking Officer	4.2yrs	US$1.07m	0.75% $ 1.4m
Todd Lampert	Independent Director & Corporate Secretary	no data	US$203.11k	0.51% $ 936.2k
Courtney Sacchetti	Executive VP & CFO	1.3yrs	no data	0.075% $ 137.0k
Steven Brunner	Executive VP	less than a year	no data	0.23% $ 417.1k
Angelo Fusaro	Principal Accounting Officer	less than a year	no data	0.044% $ 80.6k
Robert Mallozzi	Senior VP & Business Development Officer	no data	no data	no data
Daniel DiGirolamo	Senior VP & Director of Commercial Credit	no data	no data	no data
Ryan Hildebrand	Executive VP & Chief Innovation Officer	less than a year	no data	0.13% $ 240.0k

1.1yrs

Average Tenure

48yo

Average Age

Experienced Management: BWFG's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Blake Drexler	Executive Chairman	17.3yrs	US$261.99k	3.35% $ 6.1m
Christopher Gruseke	President	9.3yrs	US$1.46m	2.65% $ 4.9m
Todd Lampert	Independent Director & Corporate Secretary	17.3yrs	US$203.11k	0.51% $ 936.2k
Lawrence Seidman	Independent Director	4.3yrs	US$183.54k	0.23% $ 413.9k
Carl Porto	Independent Director	8.8yrs	US$179.53k	0.35% $ 639.2k
Darryl Demos	Independent Director	2yrs	US$170.54k	0.12% $ 228.0k
Gail E. Brathwaite	Independent Director	7.2yrs	US$180.54k	0.38% $ 707.0k
Eric Dale	Independent Vice Chairman	16.3yrs	US$207.74k	0.49% $ 894.3k
Jeffrey Dunne	Independent Director	1.2yrs	US$165.82k	0.054% $ 98.4k
Anahaita Kotval	Independent Director	less than a year	no data	0.086% $ 158.4k

8.0yrs

Average Tenure

63.5yo

Average Age

Experienced Board: BWFG's board of directors are considered experienced (8 years average tenure).

Bankwell Financial Group Management

Management criteria checks 3/4

Key information

Recent management updates

Bankwell Financial Group, Inc., Annual General Meeting, May 29, 2024

President notifies of intention to sell stock

Bankwell Financial Group, Inc. and Bankwell Bank Appoints Angelo Fusaro as Principal Accounting Officer

President notifies of intention to sell stock

President notifies of intention to sell stock

Board Member recently sold US$103k worth of stock

Recent updates

Consensus EPS estimates fall by 17%, revenue upgraded

Bankwell Financial Group (NASDAQ:BWFG) Has Affirmed Its Dividend Of $0.20

First quarter dividend of US$0.20 announced

First quarter 2024 earnings released: EPS: US$0.48 (vs US$1.34 in 1Q 2023)

Bankwell Financial Group, Inc., Annual General Meeting, May 29, 2024

Full year 2023 earnings: EPS and revenues exceed analyst expectations

President notifies of intention to sell stock

Upcoming dividend of US$0.20 per share at 3.0% yield

Bankwell Financial Group (NASDAQ:BWFG) Has Affirmed Its Dividend Of $0.20

Fourth quarter dividend of US$0.20 announced

Bankwell Financial Group, Inc. and Bankwell Bank Appoints Angelo Fusaro as Principal Accounting Officer

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Bankwell Financial Group, Inc. Reports Net Charge Off for the Fourth Quarter Ended December 31, 2023

Price target increased by 8.5% to US$32.00

President notifies of intention to sell stock

President notifies of intention to sell stock

Upcoming dividend of US$0.20 per share at 3.3% yield

New minor risk - Insider selling

Consensus EPS estimates increase by 12%

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Board Member recently sold US$103k worth of stock

Board Member notifies of intention to sell stock

Director recently bought US$68k worth of stock

Upcoming dividend of US$0.20 per share at 2.9% yield

New major risk - Revenue and earnings growth

Bankwell Financial Group (NASDAQ:BWFG) Will Pay A Dividend Of $0.20

Second quarter 2023 earnings released: EPS: US$1.02 (vs US$1.56 in 2Q 2022)

Bankwell Financial Group, Inc. Hires Ryan J. Hildebrand as Chief Innovation Officer

Price target decreased by 15% to US$30.25

President recently bought US$109k worth of stock

Upcoming dividend of US$0.20 per share at 3.6% yield

Independent Director recently bought US$265k worth of stock

Independent Director recently bought US$825k worth of stock

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Now 22% undervalued after recent price drop

President notifies of intention to sell stock

Insufficient new directors

Bankwell Financial Group, Inc. Declares First Quarter Dividend, Payable on February 23, 2023

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

President notifies of intention to sell stock

President notifies of intention to sell stock

Independent Director recently bought US$64k worth of stock

Price target increased to US$40.00

Bankwell Financial Group, Inc. and Bankwell Bank Appoints Courtney E. Sacchetti as Executive Vice President, Effective January 1, 2023

Upcoming dividend of US$0.20 per share

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Bankwell Financial Group, Inc. Provides Earnings Guidance for the Fiscal Year 2023

Penko Ivanov Resigns from Bankwell Financial Group, Inc. as CFO

Board Member notifies of intention to sell stock

Board Member recently sold US$60k worth of stock

Bankwell Financial: Growth Of Loan Volume To Counter Margin Compression

Director recently bought US$76k worth of stock

Bankwell Financial Group, Inc. announced that it has received $35 million in funding

Bankwell Financial Group, Inc. announced that it has received $35 million in funding

Upcoming dividend of US$0.20 per share

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Bankwell Financial Group, Inc. Declares Cash Dividend, Payable on August 25, 2022

Bankwell Financial: Strong Loan Growth To Drive The Bottom Line

Independent Director recently bought US$305k worth of stock

Director recently bought US$50k worth of stock

Bankwell Financial Group, Inc. Elects Darryl Demos as Directors

Upcoming dividend of US$0.20 per share

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Bankwell Financial Group, Inc. Re-Affirms Earnings Guidance for the Year 2022

Price target increased to US$39.50

Insufficient new directors

Bankwell Financial Group, Inc., Annual General Meeting, May 25, 2022

Bankwell Financial: The Loan Book Is Heavily Geared Towards CRE And Commercial Loans

Full year 2021 earnings: EPS exceeds analyst expectations