Kroll Bond Rating Agency Assigns BBB+/K2 Senior Unsecured Debt & Short-Term Debt Ratings to Bankwell Financial Group, Inc.

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB+, subordinated debt rating of BBB, and short-term debt rating of K2 to Bankwell Financial Group, Inc. (NASDAQ: BWFG), a bank holding company headquartered in New Canaan, Connecticut. In addition, KBRA has assigned a deposit rating of A-, senior unsecured debt rating of A-, subordinated debt rating of BBB+, and short-term deposit/debt rating of K2 to its subsidiary, Bankwell Bank, a commercial bank focused on commercial and residential real estate lending. The outlook on all long-term ratings is stable.

The ratings are supported by BWFG’s strong capital base, low efficiency ratio, and outstanding asset quality metrics backed by prudent underwriting. These strengths are balanced by concerns surrounding BWFG’s large concentration in real estate loans in a single market and tight on-balance sheet liquidity.

The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology dated January 28, 2015.

To view the report, please use the following link:

Bankwell Rating Report

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Contacts

Analytical:
Kroll Bond Rating Agency
Jay Zhou, 646-731-2441
Associate
jzhou@kbra.com
or
Joseph Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating

Contacts

Analytical:
Kroll Bond Rating Agency
Jay Zhou, 646-731-2441
Associate
jzhou@kbra.com
or
Joseph Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating