Bankwell Financial Group (NASDAQ:BWFG), a small-cap bank headquartered in Connecticut, delivered record earnings per share (EPS) of $1.58 on total revenue of roughly $35.3 million. EPS grew over 25% year over year, while revenue grew 24%. Adjusting for core conversion costs for broader investments in technology, Bankwell would have reported $1.86 in diluted EPS. "The third quarter was one of real progress for Bankwell. Margin expansion continued. We resolved our largest legacy problem credit. Our SBA platform had its best quarter yet, and we announced our core conversion, an important step in strengthening the infrastructure and technology that will support our future growth," Bankwell's CEO Chris Gruseke said on the company's third-quarter earnings call.
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