Bankwell Financial Group Inc
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
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Item 2. Properties
The Bank’s headquarter building is located at 258 Elm Street in New Canaan, Connecticut. The property is leased by us until 2031. On April 24, 2023, the Bank established a new retail branch located at 300 Atlantic Street, Stamford, CT. This replaced the branch located at 612 Bedford Street, Stamford, CT, which closed on April 21, 2023.
We also lease office space for each of our branch offices in New Canaan, Stamford, Norwalk, Fairfield, Darien, and Westport, Connecticut. The leases for our facilities have terms expiring at dates ranging from 2028 to 2033, although certain of the leases contain options to extend beyond these dates. We own the Hamden branch office. We believe that our current facilities are adequate for our current level of operations. Each lease is at market rate based on similar properties in the applicable market area. Management continually evaluates its branch and other office locations for opportunities to maximize cost savings while meeting our growth needs and the needs of our clients.
Our branch office locations are as follows:
| Branch | Address | Owned or Leased |
|---|---|---|
| Cherry Street | 156 Cherry Street New Canaan, CT 06840 | Lease (expires 2031) |
| Atlantic Street | 300 Atlantic Street Stamford, CT 06901 | Lease (expires 2033) |
| High Ridge | 1095 High Ridge Road Stamford, CT 06905 | Lease (expires 2028) |
| Black Rock | 2220 Black Rock Turnpike Fairfield, CT 06825 | Lease (expires 2029) |
| Sasco Hill | One Sasco Hill Road Fairfield, CT 06824 | Lease (expires 2031) |
| Norwalk | 370 Westport Avenue Norwalk, CT 06851 | Lease (expires 2029) |
| Hamden | 2704 Dixwell Avenue Hamden, CT 06518 | Own |
| Westport | 100 Post Road East Westport, CT 06880 | Lease (expires 2028) |
| Darien | 1065 Post Road Darien, CT 06820 | Lease (expires 2028) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.