Bankwell Financial Group announced the opening of its first full‑service office in New York State, located at 557–559 86th Street in Brooklyn’s Bay Ridge neighborhood. The branch began operations on February 20 2026 and will house a private‑client banking team led by Monika Buono, Private Client Group Director, while offering commercial lending, SBA financing, treasury management, and deposit services to businesses and individuals across the borough and the wider New York market.
The move marks a strategic expansion into the largest metropolitan market in the United States. By establishing a physical presence in Brooklyn, Bankwell aims to attract low‑cost core deposits from entrepreneurs, family‑owned firms, and commercial real‑estate operators, thereby reducing reliance on brokered funding and supporting its margin‑expansion strategy. The new office also provides a local point of contact for the bank’s existing private‑client team, enhancing relationship‑driven service delivery.
“Brooklyn is a dynamic business environment with a strong base of entrepreneurs, family‑owned companies, and commercial real‑estate operators,” said Konstantin Grinberg, Head of Private Client Banking. “Establishing a Brooklyn office allows us to support our private client team locally and deliver responsive, relationship‑driven banking solutions to clients throughout the borough and greater New York market.”
Bankwell’s Q4 2025 earnings, released on January 29 2026, provide context for the expansion. The bank reported GAAP net income of $1.15 per share, missing the consensus estimate of $1.20 by $0.05, while revenue of $30.32 million beat the consensus estimate of $28.06 million. Net interest margin expanded in the quarter, driven by lower deposit costs and an improved mix, and SBA loan sale gains rose to $2.2 million from $1.4 million in Q3 2025, contributing to a rise in non‑interest income. These results underscore the bank’s focus on deposit diversification and fee‑income growth, which the new Brooklyn office is positioned to accelerate.
The Brooklyn branch is expected to strengthen Bankwell’s deposit mix and fee‑income generation, reinforcing its strategy of expanding core deposits and building a fee‑based revenue stream through its SBA lending division. By tapping the robust entrepreneurial and commercial real‑estate sectors in Brooklyn, the bank can capture low‑cost deposits, improve its net interest margin, and support continued growth in its private‑client and commercial lending businesses.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.