SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 24, 2020
Bankwell Financial Group, Inc.
(Exact name of registrant as specified in its charter)
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Connecticut | 001-36448 | 20-8251355 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
220 Elm Street
New Canaan, Connecticut 06840
(203) 652-0166
(Address of Principal Executive Officers and Telephone Number)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
| Trading Symbol(s)
| Name of Each Exchange on Which Registered
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Common Stock, no par value per share
| BWFG
| NASDAQ Global Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
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Emerging growth company | ☐
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐
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Item 2.05 | Costs Associated with Exit or Disposal Activities |
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| On December 30, 2020, Bankwell Financial Group, Inc., the holding company for Bankwell Bank, issued a press release describing costs associated with exit and disposal activities. A copy of the press release is included as Exhibit 99.1 to this current report on Form 8-K and is incorporated herein by reference.
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Item 8.01 | Other Events |
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| On December 30, 2020, Bankwell Financial Group, Inc., the holding company for Bankwell Bank, issued a press release that it plans to resume share repurchase activity. In addition, Bankwell Financial Group, Inc. described charges related to early termination fees payable to a legacy technology vendor, that will be replaced with a leading provider of digital banking solutions to drive commercial deposit growth. A copy of the press release is included as Exhibit 99.1 to this current report on Form 8-K and is incorporated herein by reference. |
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Item 9.01 | Financial Statements and Exhibits |
(a) | Not applicable. |
(b) | Not applicable. |
(c) | Not applicable. |
(d) | Exhibits. |
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Exhibit Number | Description |
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99.1 | |
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104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. |
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| BANKWELL FINANCIAL GROUP, INC. |
| Registrant |
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December 30, 2020 | By: /s/ Penko K. Ivanov |
| Penko K. Ivanov |
| Executive Vice President |
| and Chief Financial Officer |