Bankwell Financial (BWFG) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Bankwell Financial Group, Inc.
Entity Central Index Key	1,505,732
Trading Symbol	bwfg
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,530,791
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets - (

Consolidated Balance Sheets - (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 69,512	$ 49,562
Federal funds sold	3,194	39,035
Cash and cash equivalents	72,706	88,597
Held to maturity investment securities, at amortized cost	17,010	10,226
Available for sale investment securities, at fair value	91,528	40,581
Loans receivable (net of allowance for loan losses of $14,810 at March 31, 2016 and $14,169 at December 31, 2015	1,177,905	1,129,748
Foreclosed real estate	878	1,248
Accrued interest receivable	4,370	4,071
Federal Home Loan Bank stock, at cost	7,158	6,554
Premises and equipment, net	10,830	11,163
Bank-owned life insurance	23,929	23,755
Goodwill	2,589	2,589
Other intangible assets	612	652
Deferred income taxes, net	8,814	8,337
Other assets	1,881	2,851
Total assets	1,420,210	1,330,372
Deposits
Noninterest bearing deposits	165,968	164,553
Interest bearing deposits	927,766	882,389
Total deposits	1,093,734	1,046,942
Advances from the Federal Home Loan Bank	160,000	120,000
Subordinated debentures	25,012	25,000
Accrued expenses and other liabilities	6,856	6,661
Total liabilities	$ 1,285,602	$ 1,198,603
Commitments and Contingencies
Shareholders' equity
Common stock, no par value; 10,000,000 shares authorized, 7,530,791 and 7,516,291 shares issued at March 31, 2016 and December 31, 2015, respectively	$ 113,052	$ 112,579
Retained earnings	21,578	18,963
Accumulated other comprehensive (loss) income	(22)	227
Total shareholders' equity	134,608	131,769
Total liabilities and shareholders' equity	$ 1,420,210	$ 1,330,372

Consolidated Balance Sheets - 3

Consolidated Balance Sheets - (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for loan losses (in dollars)	$ 14,810	$ 14,169
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, share authorized	10,000,000	10,000,000
Common stock, share issued	7,530,791	7,516,291

Consolidated Statements of Inco

Consolidated Statements of Income - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest and dividend income
Interest and fees on loans	$ 13,283	$ 10,757
Interest and dividends on securities	684	504
Interest on cash and cash equivalents	37	12
Total interest income	14,004	11,273
Interest expense
Interest expense on deposits	1,740	1,038
Interest on borrowings	866	341
Total interest expense	2,606	1,379
Net interest income	11,398	9,894
Provision for loan losses	646	733
Net interest income after provision for loan losses	10,752	9,161
Noninterest income
Service charges and fees	245	208
Bank owned life insurance	174	183
Gains and fees from sales of loans	$ 110	89
Gain on sale of foreclosed real estate, net		18
Other	$ 143	101
Total noninterest income	672	599
Noninterest expense
Salaries and employee benefits	3,811	3,962
Occupancy and equipment	1,408	1,349
Data processing	407	336
Professional services	366	325
FDIC insurance	169	158
Director fees	155	148
Marketing	139	148
Foreclosed real estate	72	5
Amortization of intangibles	40	51
Other	513	490
Total noninterest expense	7,080	6,972
Income before income tax expense	4,344	2,788
Income tax expense	1,353	915
Net income	2,991	1,873
Net income attributable to common shareholders	$ 2,991	$ 1,846
Earnings Per Common Share:
Basic (in dollars per share)	$ 0.40	$ 0.26
Diluted (in dollars per share)	$ 0.40	$ 0.26
Weighted Average Common Shares Outstanding:
Basic (in shares)	7,380,217	7,028,499
Diluted (in shares)	7,431,747	7,056,141
Dividends per common share (in dollars per share)	$ 0.05

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 2,991	$ 1,873
Unrealized gains on securities:
Unrealized holding gains on available for sale securities	$ 1,024	$ 326
Reclassification adjustment for (gain) loss realized in net income
Net change in unrealized gain	$ 1,024	$ 326
Income tax expense	(358)	(127)
Unrealized gains on securities, net of tax	666	199
Unrealized losses on interest rate swaps:
Unrealized losses on interest rate swaps designated as cash flow hedges	(1,408)	(568)
Income tax benefit	493	221
Unrealized losses on interest rate swaps, net of tax	(915)	(347)
Total other comprehensive loss	(249)	(148)
Comprehensive income	$ 2,742	$ 1,725

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - (UNAUDITED) - USD ($) $ in Thousands	Preferred Stock	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2014	$ 10,980	$ 107,265	$ 10,434	$ 531	$ 129,210
Balance (in shares) at Dec. 31, 2014		7,185,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			1,873		1,873
Other comprehensive loss, net of tax				(148)	(148)
Preferred stock cash dividends			(27)		(27)
Stock-based compensation expense		$ 242			242
Issuance of restricted stock (in shares)		40,000
Stock options exercised		$ 258			258
Stock options exercised (in shares)		17,770
Balance at Mar. 31, 2015	$ 10,980	$ 107,765	12,280	383	131,408
Balance (in shares) at Mar. 31, 2015		7,243,252
Balance at Dec. 31, 2015		$ 112,579	18,963	227	131,769
Balance (in shares) at Dec. 31, 2015		7,516,291
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			2,991		2,991
Other comprehensive loss, net of tax				(249)	(249)
Cash dividends declared ($0.05 per share)			(376)		(376)
Stock-based compensation expense		$ 249			$ 249
Forfeitures of restricted stock (in shares)
Issuance of restricted stock (in shares)
Stock options exercised		$ 224			$ 224
Stock options exercised (in shares)		14,500			14,500
Balance at Mar. 31, 2016		$ 113,052	$ 21,578	$ (22)	$ 134,608
Balance (in shares) at Mar. 31, 2016		7,530,791

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity - (UNAUDITED) (Parentheticals)	3 Months Ended
	Mar. 31, 2016$ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.05

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net income	$ 2,991	$ 1,873
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of premiums and discounts on investment securities	130	38
Provision for loan losses	646	733
Provision for deferred taxes	(343)	(229)
Depreciation and amortization	428	403
Increase in cash surrender value of bank-owned life insurance	(174)	(183)
Loan principal sold	(1,268)	(3,122)
Proceeds from sales of loans	1,378	3,797
Net gain on sales of loans	(110)	(89)
Equity-based compensation	249	242
Net accretion of purchase accounting adjustments	(35)	(41)
Loss (gain) on sale and write-downs of foreclosed real estate	51	(18)
Net change in:
Deferred loan fees	166	96
Accrued interest receivable	(299)	(19)
Other assets	(358)	(142)
Accrued expenses and other liabilities	195	(530)
Net cash provided by operating activities	3,647	2,809
Cash flows from investing activities
Proceeds from principal repayments on available for sale securities	273	284
Proceeds from principal repayments on held to maturity securities	52	53
Net proceeds from sales and calls of available for sale securities	900	14,280
Purchases of available for sale securities	(51,228)
Purchase of held to maturity securities	(6,835)
Net increase in loans	(48,995)	(48,936)
Purchases of premises and equipment	(95)	(613)
Purchase of Federal Home Loan Bank stock	(604)	(685)
Proceeds from sale of foreclosed real estate	320	138
Net cash used by investing activities	(106,212)	(35,479)
Cash flows from financing activities
Net change in time certificates of deposit	38,025	(7,242)
Net change in other deposits	8,788	6,550
Amortization of debt issuance costs	13
Net change in FHLB advances	40,000	4,000
Proceeds from exercise of options	224	258
Dividends paid on common stock	(376)
Dividends paid on preferred stock		(27)
Net cash provided by financing activities	86,674	3,539
Net decrease in cash and cash equivalents	(15,891)	(29,131)
Cash and cash equivalents:
Beginning of year	88,597	48,559
End of period	72,706	19,428
Cash paid for:
Interest	2,616	1,258
Income taxes	$ 1,063	$ 1,020
Noncash investing and financing activities
Loans transferred to foreclosed real estate

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. Nature of Operations and Summary of Significant Accounting Policies Bankwell Financial Group, Inc. (the “Company” or “Bankwell”) is a bank holding company headquartered in New Canaan, Connecticut. The Company offers a broad range of financial services through its banking subsidiary, Bankwell Bank (the “Bank”). The Bank was originally chartered as two separate banks, The Bank of New Canaan (“BNC”) and The Bank of Fairfield (“TBF”). In September 2013, BNC and TBF were merged and rebranded as “Bankwell Bank.” In November 2013, the Bank acquired The Wilton Bank (“Wilton”), which added one branch and approximately $25.1 million in loans and $64.2 million in deposits. In October 2014, the Bank acquired Quinnipiac Bank and Trust Company (“Quinnipiac”) which added two branches and approximately $97.8 million in loans and $100.6 million in deposits. The Bank is a Connecticut state chartered commercial bank, founded in 2002, whose deposits are insured under the Deposit Insurance Fund administered by the Federal Deposit Insurance Corporation (“FDIC”). The Bank provides a full range of banking services to commercial and consumer customers, primarily concentrated in the Fairfield County and New Haven County regions of Connecticut, with branch locations in New Canaan, Stamford, Fairfield, Wilton, Norwalk, Hamden and North Haven, Connecticut. Principles of consolidation The consolidated interim financial statements include the accounts of the Company and the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities as of the date of the balance sheet and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, stock-based compensation and derivative instrument valuation. Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-1 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2016. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2015. Significant concentrations of credit risk Most of the Company's activities are with customers located within Fairfield and New Haven Counties and the surrounding region of Connecticut, and declines in property values in these areas could significantly impact the Company. The Company has significant concentrations in commercial real estate loans. Management does not believe they present any special risk. The Company does not have any significant concentrations in any one industry or customer. Reclassification Certain prior period amounts have been reclassified to conform to the 2016 financial statement presentation. These reclassifications only changed the reporting categories and did not affect the results of operat i Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. ASU No. 2014-09 – Revenue from Contracts with Customers (Topic 606). ASU No. 2014-12, Compensation – Stock Compensation (Topic 718): “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. Under this ASU, separate, net-of-tax s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-20): “Simplifying the Presentation of Debt Issuance Costs.” ASU No. 2015-16, Business Combinations (Topic 805): “Simplifying the Accounting for Measurement Period Adjustments.” s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): “Recognition and Measurement of Financial Assets and Financial Liabilities.” “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The standard is effective for the Company beginning on January 1, 2018. The Company does not expect the application of this guidance to have a material impact on the Company s financial statements. ASU 2016-02, Leases (Topic 842). s financial statements. ASU 2016-09, Compensation – Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” accounting for an employee s use of shares to satisfy the employer s statutory income tax withholding obligation and for forfeitures is changing and the update requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The amendments in this update will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company does not expect the application of this guidance to have a material impact on the Company s financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	2. Investment Securities The amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities at March 31, 2016 were as follows: March 31, 2016 Amortized Gross Unrealized Fair Cost Gains Losses Value (In thousands) Available for sale securities: U.S. Government and agency obligations Due from one through five years $ 57,316 $ 685 $ (5 ) $ 57,996 Due from five through ten years 294 6 - 300 Due after ten years 400 - - 400 58,010 691 (5 ) 58,696 State agency, U.S. Territories and municipal obligations Due from one through five years 825 48 - 873 Due from five through ten years 9,694 475 (388 ) 9,781 Due after ten years 5,995 385 - 6,380 16,514 908 (388 ) 17,034 Corporate bonds Due in less than one year 1,007 17 - 1,024 Due from one through five years 9,215 283 - 9,498 Due from five through ten years 1,012 37 - 1,049 11,234 337 - 11,571 Government-sponsored mortgage backed securities No contractual maturity 4,121 113 (7 ) 4,227 4,121 113 (7 ) 4,227 Total available for sale securities $ 89,879 $ 2,049 $ (400 ) $ 91,528 Held to maturity securities: State agency, U.S. Territories and municipal obligations Due after ten years $ 15,823 $ - $ - $ 15,823 Corporate bonds Due from one through five years 1,000 - (40 ) 960 Government-sponsored mortgage backed securities No contractual maturity 187 19 - 206 Total held to maturity securities $ 17,010 $ 19 $ (40 ) $ 16,989 The amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities at December 31, 2015 were as follows: December 31, 2015 Amortized Gross Unrealized Fair Cost Gains Losses Value (In thousands) Available for sale securities: U.S. Government and agency obligations Due from one through five years $ 6,198 $ - $ (77 ) $ 6,121 Due from five through ten years 394 4 (2 ) 396 Due after ten years 647 - (21 ) 626 7,239 4 (100 ) 7,143 State agency, U.S. Territories and municipal obligations Due from one through five years 520 39 - 559 Due from five through ten years 9,762 361 (322 ) 9,801 Due after ten years 6,778 367 (1 ) 7,144 17,060 767 (323 ) 17,504 Corporate bonds Due in less than one year 1,010 22 - 1,032 Due from one through five years 9,233 156 (9 ) 9,380 Due from five through ten years 1,013 12 - 1,025 11,256 190 (9 ) 11,437 Government-sponsored mortgage backed securities No contractual maturity 4,400 107 (10 ) 4,497 4,400 107 (10 ) 4,497 Total available for sale securities $ 39,955 $ 1,068 $ (442 ) $ 40,581 Held to maturity securities: State agency, U.S. Territories and municipal obligations Due after ten years $ 9,026 $ - $ - $ 9,026 Corporate bonds Due from one through five years 1,000 - (19 ) 981 Government-sponsored mortgage backed securities No contractual maturity 200 21 - 221 Total held to maturity securities $ 10,226 $ 21 $ (19 ) $ 10,228 There were no sales of, or realized gains or losses on investment securities during the three months ended March 31, 2016 and 2015. At March 31, 2016 and December 31, 2015, securities with approximate fair values of $6.0 million and $5.9 million were pledged as collateral for public deposits, respectively. The following table provides information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015: Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (In thousands) March 31, 2016 U.S. Government and agency obligations $ 998 $ (2 ) $ 1,097 $ (3 ) $ 2,095 $ (5 ) State agency, U.S. Territories and municipal obligations - - 608 (388 ) 608 (388 ) Corporate bonds 960 (40 ) - - 960 (40 ) Government-sponsored mortgage backed securities 339 (2 ) 450 (5 ) 789 (7 ) Total investment securities $ 2,297 $ (44 ) $ 2,155 $ (396 ) $ 4,452 $ (440 ) December 31, 2015 U.S. Government and agency obligations $ 5,486 $ (60 ) $ 1,259 $ (40 ) $ 6,745 $ (100 ) State agency, U.S. Territories and municipal obligations 126 (1 ) 665 (322 ) 791 (323 ) Corporate bonds 1,970 (28 ) - - 1,970 (28 ) Government-sponsored mortgage backed securities 768 (4 ) 413 (6 ) 1,181 (10 ) Total investment securities $ 8,350 $ (93 ) $ 2,337 $ (368 ) $ 10,687 $ (461 ) There were 15 and 29 investment securities as of March 31, 2016 and December 31, 2015, respectively, in which the fair value of the security was less than the amortized cost of the security. The U.S. Government and agency obligations owned are either direct obligations of the U.S. Government or are issued by one of the shareholder-owned corporations chartered by the U.S. Government and therefore the contractual cash flows are guaranteed and as a result the unrealized losses in this portfolio are not considered other than temporarily impaired. The Company continually monitors its state agency, U.S. Territories, municipal and corporate bond portfolios and at this time these portfolios have minimal default risk because state agency, U.S. Territories, municipal and corporate bonds are all rated above investment grade except for one U.S. Territory bond (a Commonwealth of Puerto Rico senior lien sales tax financing corporate bond or "COFINA" bond) with a cost of $995.0 thousand and a market value of $607.5 thousand that is rated two levels below investment grade. The Company has determined that the unrealized loss on this U.S. Territory bond is, thus far, not other than temporarily impaired because payments are backed by a senior lien position on dedicated cash receipts from sales tax revenue with a strong debt service coverage. In February 2016, the Commonwealth of Puerto Rico proposed a voluntary debt restructuring of all of its outstanding debt. The voluntary restructuring proposal has been rejected by most creditors. In addition, a "debt moratorium" was announced on May 2, 2016 by the Commonwealth of Puerto Rico and, as a result, it appears that there may be potential litigation and negotiations relating to its debt obligations. These events could impact our assessment and the valuation of this bond in the future. Given the uncertainty surrounding the timing and impact of these events the Company will continue to monitor the ongoing negotiations and review the bond for potential other than temporary impairment as events unfold. Government-sponsored mortgage backed securities are fully guaranteed by U.S. Government agencies and as a result the unrealized losses in this portfolio are not considered other than temporarily impaired.

LOANS RECEIVABLE AND ALLOWANCE

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	3. LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES Loans acquired in connection with the Wilton acquisition in November 2013 and the Quinnipiac acquisition in October 2014 are referred to as “acquired” loans as a result of the manner in which they are accounted for. All other loans are referred to as “originated” loans. Accordingly, selected credit quality disclosures that follow are presented separately for the originated loan portfolio and the acquired loan portfolio. The following table sets forth a summary of the loan portfolio at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 (In thousands) Originated Acquired Total Originated Acquired Total Real estate loans: Residential $ 181,345 $ 2,789 $ 184,134 $ 174,311 $ 2,873 $ 177,184 Commercial 697,600 53,971 751,571 643,524 54,018 697,542 Construction 82,435 93 82,528 81,242 1,031 82,273 Home equity 9,319 6,470 15,789 9,146 6,780 15,926 970,699 63,323 1,034,022 908,223 64,702 972,925 Commercial business 139,897 21,006 160,903 150,479 22,374 172,853 Consumer 63 1,489 1,552 117 1,618 1,735 Total loans 1,110,659 85,818 1,196,477 1,058,819 88,694 1,147,513 Allowance for loan losses (14,787 ) (23 ) (14,810 ) (14,128 ) (41 ) (14,169 ) Deferred loan origination fees, net (3,771 ) - (3,771 ) (3,605 ) - (3,605 ) Unamortized loan premiums 9 - 9 9 - 9 Loans receivable, net $ 1,092,110 $ 85,795 $ 1,177,905 $ 1,041,095 $ 88,653 $ 1,129,748 Lending activities are conducted principally in the Fairfield and New Haven county regions of Connecticut, and consist of residential and commercial real estate loans, commercial business loans and a variety of consumer loans. Loans may also be granted for the construction of residential homes and commercial properties. All residential and commercial mortgage loans are typically collateralized by first or second mortgages on real estate. Certain acquired loans were determined to have evidence of credit deterioration at the acquisition date. Such loans are accounted for in accordance with ASC 310-30. The following table summarizes activity in the accretable yields for the acquired loan portfolio that falls under the purview of ASC 310-30: (In thousands) Three Months Ended March 31, 2016 2015 Balance at beginning of period $ 871 $ 1,382 Acquisition - - Accretion (49 ) (94 ) Other (a) (51 ) (63 ) Balance at end of period $ 771 $ 1,225 a) Represents changes in cash flows expected to be collected due to loan sales or payoffs. Risk management The Company has established credit policies applicable to each type of lending activity in which it engages. The Company evaluates the creditworthiness of each customer and, in most cases, extends credit of up to 80% of the market value of the collateral, depending on the borrowers' creditworthiness and the type of collateral. The market value of collateral is monitored on an ongoing basis. Real estate is the primary form of collateral. Other important forms of collateral are business assets, time deposits and marketable securities. While collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment to be based on the borrower's ability to generate continuing cash flows. The Company s policy for residential lending allows that, generally, the amount of the loan may not exceed 80% of the original appraised value of the property. In certain situations, the amount may be up to 90-95% LTV either with private mortgage insurance being required for that portion of the residential loan in excess of 80% of the appraised value of the property or where secondary financing is provided by a housing authority program second mortgage, a community s low/moderate income housing program, a religious or civic organization. Private mortgage insurance is required for that portion of the residential first mortgage loan in excess of 80% of the appraised value of the property. Credit quality of loans and the allowance for loan losses Management segregates the loan portfolio into portfolio segments which is defined as the level at which the Company The Company's loan portfolio is segregated into the following portfolio segments: Residential Real Estate: Commercial Real Estate: Construction Home Equity Commercial Business: Consumer: Allowance for loan losses The following tables set forth the activity in the Company s allowance for loan losses for the three months ended March 31, 2016 and 2015, by portfolio segment: Residential Commercial Home Commercial Real Estate Real Estate Construction Equity Business Consumer Total (In thousands) Three Months Ended March 31, 2016 Originated Beginning balance $ 1,444 $ 7,693 $ 1,504 $ 174 $ 3,310 $ 3 $ 14,128 Charge-offs - - - - - (1 ) (1 ) Recoveries - - - - - 5 5 Provisions 59 741 79 4 (224 ) (4 ) 655 Ending balance $ 1,503 $ 8,434 $ 1,583 $ 178 $ 3,086 $ 3 $ 14,787 Acquired Beginning balance $ - $ 12 $ - $ - $ 24 $ 5 $ 41 Charge-offs - - (7 ) - - (2 ) (9 ) Recoveries - - - - - - - Provisions - 1 7 - (18 ) 1 (9 ) Ending balance $ - $ 13 $ - $ - $ 6 $ 4 $ 23 Total Beginning balance $ 1,444 $ 7,705 $ 1,504 $ 174 $ 3,334 $ 8 $ 14,169 Charge-offs - - (7 ) - - (3 ) (10 ) Recoveries - - - - - 5 5 Provisions 59 742 86 4 (242 ) (3 ) 646 Ending balance $ 1,503 $ 8,447 $ 1,583 $ 178 $ 3,092 $ 7 $ 14,810 Residential Commercial Home Commercial Real Estate Real Estate Construction Equity Business Consumer Total (In thousands) Three Months Ended March 31, 2015 Originated Beginning balance $ 1,431 $ 5,480 $ 1,102 $ 205 $ 2,638 $ 4 $ 10,860 Charge-offs - - - - - - - Recoveries - - - - - 1 1 Provisions (25 ) 587 118 (2 ) 44 (2 ) 720 Ending balance $ 1,406 $ 6,067 $ 1,220 $ 203 $ 2,682 $ 3 $ 11,581 Acquired Beginning balance $ - $ - $ - $ - $ - $ - $ - Charge-offs - - - - - - - Recoveries - - - - - 2 2 Provisions - - - - 12 1 13 Ending balance $ - $ - $ - $ - $ 12 $ 3 $ 15 Total Beginning balance $ 1,431 $ 5,480 $ 1,102 $ 205 $ 2,638 $ 4 $ 10,860 Charge-offs - - - - - - - Recoveries - - - - - 3 3 Provisions (25 ) 587 118 (2 ) 56 (1 ) 733 Ending balance $ 1,406 $ 6,067 $ 1,220 $ 203 $ 2,694 $ 6 $ 11,596 With respect to the originated portfolio, the allocation to each portfolio segment is not necessarily indicative of future losses in any particular portfolio segment and does not restrict the use of the allowance to absorb losses in other portfolio segments. The following tables are a summary, by portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio balances at March 31, 2016 and December 31, 2015: Originated Loans Acquired Loans Total Portfolio Allowance Portfolio Allowance Portfolio Allowance (In thousands) March 31, 2016 Loans individually evaluated for impairment: Residential real estate $ 1,833 $ - $ - $ - $ 1,833 $ - Commercial real estate 5,813 - 595 - 6,408 - Home equity 414 - 196 - 610 - Commercial business 859 70 1,396 1 2,255 71 Consumer - - 4 4 4 4 Subtotal 8,919 70 2,191 5 11,110 75 Loans collectively evaluated for impairment: Residential real estate 179,512 1,503 2,789 - 182,301 1,503 Commercial real estate 691,787 8,435 53,376 13 745,163 8,448 Construction 82,435 1,583 93 - 82,528 1,583 Home equity 8,905 178 6,274 - 15,179 178 Commercial business 139,038 3,015 19,610 5 158,648 3,020 Consumer 63 3 1,485 - 1,548 3 Subtotal 1,101,740 14,717 83,627 18 1,185,367 14,735 Total $ 1,110,659 $ 14,787 $ 85,818 $ 23 $ 1,196,477 $ 14,810 Originated Loans Acquired Loans Total Portfolio Allowance Portfolio Allowance Portfolio Allowance (In thousands) December 31, 2015 Loans individually evaluated for impairment: Residential real estate $ 1,833 $ 2 $ - $ - $ 1,833 $ 2 Commercial real estate 4,291 - 762 12 5,053 12 Home equity 422 - 197 - 619 - Commercial business 1,977 71 1,433 21 3,410 92 Consumer - - 7 5 7 5 Subtotal 8,523 73 2,399 38 10,922 111 Loans collectively evaluated for impairment: Residential real estate 172,478 1,442 2,873 - 175,351 1,442 Commercial real estate 639,233 7,692 53,256 - 692,489 7,692 Construction 81,242 1,504 1,031 - 82,273 1,504 Home equity 8,724 174 6,583 - 15,307 174 Commercial business 148,502 3,239 20,941 3 169,443 3,242 Consumer 117 4 1,611 - 1,728 4 Subtotal 1,050,296 14,055 86,295 3 1,136,591 14,058 Total $ 1,058,819 $ 14,128 $ 88,694 $ 41 $ 1,147,513 $ 14,169 Credit quality indicators The Company's policies provide for the classification of loans into the following categories: pass, special mention, substandard, doubtful and loss. Consistent with regulatory guidelines, loans that are considered to be of lesser quality are classified as substandard, doubtful, or loss assets. A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those loans characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans classified as loss are those considered uncollectible and of such little value that their continuance as loans is not warranted. Loans that do not expose the Company to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are designated as special mention. Loans that are considered to be impaired are analyzed to determine whether a loss is possible and if so, a calculation is performed to determine the possible loss amount. If it is determined that the loss amount is $0, no reserve is held against the asset. If a loss is calculated, then a specific reserve for that asset is determined. The following tables are a summary of the loan portfolio quality indicators by portfolio segment at March 31, 2016 and December 31, 2015: Commercial Credit Quality Indicators At March 31, 2016 At December 31, 2015 Commercial Commercial Commercial Commercial Real Estate Construction Business Real Estate Construction Business (In thousands) Originated loans: Pass $ 691,787 $ 82,435 $ 137,764 $ 638,709 $ 81,242 $ 148,748 Special mention 2,593 - 1,547 1,595 - 1,118 Substandard 3,220 - 522 3,220 - 549 Doubtful - - - - - - Loss - - 64 - - 64 Total originated loans 697,600 82,435 139,897 643,524 81,242 150,479 Acquired loans: Pass 51,453 93 19,441 52,427 230 20,794 Special mention 1,307 - 635 - - 598 Substandard 1,211 - 930 1,591 801 982 Doubtful - - - - - - Loss - - - - - - Total acquired loans 53,971 93 21,006 54,018 1,031 22,374 Total $ 751,571 $ 82,528 $ 160,903 $ 697,542 $ 82,273 $ 172,853 Residential and Consumer Credit Quality Indicators At March 31, 2016 At December 31, 2015 Residential Residential Real Estate Home Equity Consumer Real Estate Home Equity Consumer (In thousands) Originated loans: Pass $ 179,512 $ 8,904 $ 63 $ 172,478 $ 8,725 $ 117 Special mention 864 78 - 864 80 - Substandard 969 337 - 969 341 - Doubtful - - - - - - Loss - - - - - - Total originated loans 181,345 9,319 63 174,311 9,146 117 Acquired loans: Pass 2,789 6,230 1,419 2,873 6,545 1,539 Special mention - - - - - - Substandard - 240 70 - 235 79 Doubtful - - - - - - Loss - - - - - - Total acquired loans 2,789 6,470 1,489 2,873 6,780 1,618 Total $ 184,134 $ 15,789 $ 1,552 $ 177,184 $ 15,926 $ 1,735 Loan portfolio aging analysis When a loan is 15 days past due, the Company sends the borrower a late notice. The Company also contacts the borrower by phone if the delinquency is not corrected promptly after the notice has been sent. When the loan is 30 days past due, the Company mails the borrower a letter reminding the borrower of the delinquency, and attempts to contact the borrower personally to determine the reason for the delinquency and ensure the borrower understands the terms of the loan. If necessary, subsequent delinquency notices are issued and the account will be monitored on a regular basis thereafter. By the 90th day of delinquency, the Company will send the borrower a final demand for payment and may recommend foreclosure. A summary report of all loans 30 days or more past due is provided to the board of directors of the Company each month. Loans greater than 90 days past due are generally put on nonaccrual status. A nonaccrual loan is restored to accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt. A loan is considered to be no longer delinquent when timely payments are made for a period of at least six months (one year for loans providing for quarterly or semi-annual payments) by the borrower in accordance with the contractual terms. The following tables set forth certain information with respect to our loan portfolio delinquencies by portfolio segment and amount as of March 31, 2016 and December 31, 2015: As of March 31, 2016 Carrying Amount > Greater 90 Days 31-60 Days 61-90 Days Than 90 Total Past and Past Due Past Due Days Due Current Accruing (In thousands) Originated Loans Real estate loans: Residential real estate $ - $ - $ 969 $ 969 $ 180,376 $ - Commercial real estate - - - - 697,600 - Construction 1,068 - - 1,068 81,367 - Home equity 195 - - 195 9,124 - Commercial business - - 64 64 139,833 - Consumer - - 4 4 59 - Total originated loans 1,263 - 1,037 2,300 1,108,359 - Acquired Loans Real estate loans: Residential real estate - - - - 2,789 - Commercial real estate 655 - 595 1,250 52,721 89 Construction - - - - 93 - Home equity 100 162 190 452 6,018 - Commercial business 278 - 174 452 20,554 - Consumer 16 - - 16 1,473 - Total acquired loans 1,049 162 959 2,170 83,648 89 Total loans $ 2,312 $ 162 $ 1,996 $ 4,470 $ 1,192,007 $ 89 As of December 31, 2015 Carrying Amount > Greater 90 Days 31-60 Days 61-90 Days Than 90 Total Past and Past Due Past Due Days Due Current Accruing (In thousands) Originated Loans Real estate loans: Residential real estate $ - $ - $ 969 $ 969 $ 173,342 $ - Commercial real estate - 311 - 311 643,213 - Construction - - - - 81,242 - Home equity 198 - - 198 8,948 - Commercial business 1,078 100 343 1,521 148,958 - Consumer - - - - 117 - Total originated loans 1,276 411 1,312 2,999 1,055,820 - Acquired Loans Real estate loans: Residential real estate - - - - 2,873 - Commercial real estate 333 - 762 1,095 52,923 218 Construction - - 801 801 230 801 Home equity 100 162 191 453 6,327 - Commercial business 262 71 101 434 21,940 86 Consumer 17 - - 17 1,601 - Total acquired loans 712 233 1,855 2,800 85,894 1,105 Total loans $ 1,988 $ 644 $ 3,167 $ 5,799 $ 1,141,714 $ 1,105 Loans on nonaccrual status The following is a summary of nonaccrual loans by portfolio segment as of March 31, 2016 and December 31, 2015: March 31, December 31, 2016 2015 (In thousands) Residential real estate $ 969 $ 970 Commercial real estate 1,113 1,264 Home equity 392 395 Commercial business 918 1,160 Consumer 6 2 Total $ 3,398 $ 3,791 The amount of income that was contractually due but not recognized on originated nonaccrual loans totaled $13 thousand and $25 thousand, respectively for the three months ended March 31, 2016, and 2015. There was no and $1 thousand actual interest income recognized on these loans for the three months ended March 31, 2016, and 2015, respectively. At March 31, 2016 and December 31, 2015, there were $169 thousand of commitments to lend additional funds to any borrower on nonaccrual status. The preceding table excludes acquired loans that are accounted for as purchased credit impaired loans totaling $0.1 million and $1.1 million, respectively at March 31, 2016 and December 31, 2015. Such loans otherwise meet the Company's definition of a nonperforming loan but are excluded because the loans are included in loan pools that are considered performing. The discounts arising from recording these loans at fair value were due, in part, to credit quality. The acquired loans are accounted for on either a pool or individual basis and the accretable yield is being recognized as interest income over the life of the loans based on expected cash flows. Impaired loans An impaired loan generally is one for which it is probable, based on current information, the Company will not collect all the amounts due under the contractual terms of the loan. Loans are individually evaluated for impairment. When the Company classifies a problem loan as impaired, it provides a specific valuation allowance for that portion of the asset that is deemed uncollectible. The following table summarizes impaired loans by portfolio segment as of March 31, 2016 and December 31, 2015: Carrying Amount Unpaid Principal Balance Associated Allowance March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (In thousands) Originated Impaired loans without a valuation allowance: Residential real estate $ 1,833 $ 969 $ 1,833 $ 969 $ - $ - Commercial real estate 5,813 4,291 5,813 4,291 - - Home equity 414 422 419 424 - - Commercial business 353 1,351 378 1,372 - - Total impaired loans without a valuation allowance 8,413 7,033 8,443 7,056 - - Impaired loans with a valuation allowance: Residential real estate - 864 - 864 - 2 Commercial business 506 626 506 690 70 71 Total impaired loans with a valuation allowance 506 1,490 506 1,554 70 73 Total originated impaired loans $ 8,919 $ 8,523 $ 8,949 $ 8,610 $ 70 $ 73 Acquired Impaired loans without a valuation allowance: Commercial real estate $ 595 $ 611 $ 678 $ 678 $ - $ - Commercial business 1,277 963 1,281 963 - - Home equity 196 197 200 200 - - Total impaired loans without a valuation allowance 2,068 1,771 2,159 1,841 - - Impaired loans with a valuation allowance: Commercial Real Estate - 151 - 151 - 12 Commercial business 119 470 131 480 1 21 Consumer 4 7 4 7 4 5 Total impaired loans with a valuation allowance 123 628 135 638 5 38 Total acquired impaired loans $ 2,191 $ 2,399 $ 2,294 $ 2,479 $ 5 $ 38 The following table summarizes the average recorded investment balance of impaired loans and interest income recognized on impaired loans by portfolio segment as of March 31, 2016 and December 31, 2015: Average Recorded Investment Interest Income Recognized March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (In thousands) Originated Impaired loans without a valuation allowance: Residential real estate $ 1,833 $ 973 $ 7 $ 27 Commercial real estate 5,821 4,308 60 124 Home equity 418 429 2 10 Commercial business 357 1,374 2 49 Total impaired loans without a valuation allowance 8,429 7,084 71 210 Impaired loans with a valuation allowance: Residential real estate - 864 - 28 Commercial business 518 673 6 34 Total impaired loans with a valuation allowance 518 1,537 6 62 Total originated impaired loans $ 8,947 $ 8,621 $ 77 $ 272 Acquired Impaired loans without a valuation allowance: Commercial real estate $ 602 $ 602 $ - $ 6 Commercial business 1,288 999 14 54 Home equity 197 198 - 2 Total impaired loans without a valuation allowance 2,087 1,799 14 62 Impaired loans with a valuation allowance: Commercial real estate - 151 - 3 Commercial business 123 506 - 14 Consumer 4 7 1 1 Total impaired loans with a valuation allowance 127 664 1 18 Total acquired impaired loans $ 2,214 $ 2,463 $ 15 $ 80 Troubled debt restructurings (TDRs) Modifications to a loan are considered to be a troubled debt restructuring when one or both of the following conditions is met: 1) the borrower is experiencing financial difficulties and/or 2) the modification constitutes a concession that is not in line with market rates and/or terms. Modified terms are dependent upon the financial position and needs of the individual borrower. Troubled debt restructurings are classified as impaired loans. If a performing loan is restructured into a TDR it remains in performing status. If a nonperforming loan is restructured into a TDR, it continues to be carried in nonaccrual status. Nonaccrual classification may be removed if the borrower demonstrates compliance with the modified terms for a minimum of six months. Troubled debt restructured loans are reported as such for at least one year from the date of restructuring. In years after the restructuring, troubled debt restructured loans are removed from this classification if the restructuring agreement specifies a market rate of interest equal to that which would be provided to a borrower with similar credit at the time of restructuring and the loan is not deemed to be impaired based on the modified terms. The recorded investment in TDRs was $6.4 million at March 31, 2016 and $7.3 million at December 31, 2015. The following tables present loans whose terms were modified as TDRs during the periods presented: Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2016 2015 2016 2015 2016 2015 Three Months Ended March 31, Commercial real estate - 2 $ - $ 3,220 $ - $ 3,220 Commercial business - 1 - 54 - 54 Total - 3 $ - $ 3,274 $ - $ 3,274 All TDRs at March 31, 2016 and December 31, 2015 were performing in compliance with their modified terms, except for two non-accrual loans totaling $1.1 million at March 31, 2016 and December 31, 2015. The following table provides information on how loans were modified as a TDR during the three months ended March 31, 2016 and 2015. Three Months Ended March 31, 2016 2015 (In thousands) Maturity/amortization concession $ - $ 54 Maturity and payment concession - 3,220 Total $ - $ 3,274 There were no loans modified in a troubled debt restructuring, for which there was a payment default during the three months ended March 31, 2016 and 2015, respectively.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	4. Shareholders' Equity Common stock On May 15, 2014, the Company priced 2,702,703 common shares in its initial public offering ( “ IPO ) at $18.00 per share, and on May 15, 2014, Bankwell common shares began trading on the Nasdaq Stock Market. The Company issued a total of 2,702,703 common shares in its IPO, which closed on May 20, 2014. The net proceeds from the IPO were approximately $44.7 million, after deducting the underwriting discount of approximately $2.5 million and approximately $1.3 million of expenses. Prior to the public offering, the Company issued shares in various offerings. Preferred stock In 2011, the Company elected to participate in the Treasury ’ s Small Business Lending Fund Program ( SBLF ). The Company sold 10,980 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series C, no par (the “ Series C Preferred Stock ), having a liquidation preference of $1,000 per preferred share, to the Treasury. The transaction resulted in net capital proceeds to the Company of $5.9 million, of which at least 90% was invested in the Bank as Tier 1 Capital. The Series C Preferred stock paid noncumulative dividends. The Company paid dividends at a rate of 1.0% since issuance. On November 20, 2015 the Company redeemed the $10.98 million (10,980 shares) of preferred stock. The shares were redeemed at their liquidation value of $1,000 per share plus accrued dividends through November 20, 2015. The redemption was approved by the Company ’ s primary federal regulator and was funded with the Company s surplus capital. With this redemption, the Company has redeemed all of its outstanding SBLF stock. Warrants BNC ’ s October 26, 2006 Stock Offering and the July 10, 2007 Private Placement (the Offerings ) call for the issuance of Units. Each Unit issued pursuant to the Offerings represented one share of common stock and one nontransferable warrant. The warrants were exercisable at any time from and including October 1, 2009 and prior to or on November 30, 2009, unless extended or accelerated by the board of directors in their discretion. The board of directors extended the exercise period to October 5, 2015 through December 5, 2015. Each warrant allowed a holder to purchase .3221 shares of common stock at an exercise price of $14.00 per share. 945,789 Warrants were available to purchase up to 304,639 shares of common stock at $14.00 per share for a maximum offering of $4,264,946. As a result of the offering, 838,369 Warrants were exercised for 269,992 shares of common stock for total gross proceeds of $3,779,888. There are no longer any outstanding Warrants following the close of this offering. As a result of the acquisition of Quinnipiac on October 1, 2014 the Company issued 68,600 warrants to former Quinnipiac warrant holders in accordance with the merger agreement. Each warrant was automatically converted into a warrant to purchase 0.56 shares of the Company ’ s common stock for an exercise price of $17.86. None of the warrants have been exercised as of December 31, 2015. The warrants expire on March 6, 2018. Dividends The Company ’ s shareholders are entitled to dividends when and if declared by the board of directors, out of funds legally available. The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements. On January 27, 2016 The Company ’ s Board of Directors declared a $0.05 per share cash dividend, payable February 22, 2016 to shareholders of record on February 12, 2016. The Company did not repurchase any of its common stock during 2016 or 2015.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2016
Comprehensive Income [Abstract]
COMPREHENSIVE INCOME	5. Comprehensive Income Comprehensive income represents the sum of net income and items of other comprehensive income or loss, including net unrealized gains or losses on securities available for sale and net unrealized gains or losses on derivatives accounted for as cash flow hedges. The Company ’ s total comprehensive income or loss for the three months ended March 31, 2016 and 2015 is reported in the Consolidated Statements of Comprehensive Income. The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax for the three months ended March 31, 2016 and 2015: Net Unrealized Gain Net Unrealized Gain (Loss) on Available (Loss) on Interest for Sale Securities Rate Swap Total (In thousands) Balance at December 31, 2015 $ 405 $ (178 ) $ 227 Other comprehensive income (loss) before reclassifications 666 (915 ) (249 ) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income (loss) 666 (915 ) (249 ) Balance at March 31, 2016 $ 1,071 $ (1,093 ) $ (22 ) Net Unrealized Gain Net Unrealized Gain (Loss) on Available (Loss) on Interest for Sale Securities Rate Swap Total (In thousands) Balance at December 31, 2014 $ 644 $ (113 ) $ 531 Other comprehensive income (loss) before reclassifications 199 (347 ) (148 ) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income (loss) 199 (347 ) (148 ) Balance at March 31, 2015 $ 843 $ (460 ) $ 383

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	6. Earnings per Share Basic earnings per share ( “ EPS ) is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock (such as stock options) were exercised or converted into common stock or resulted in the issuance of common stock that then shared in earnings. Restricted stock awards include the right to receive non forfeitable dividends, and are therefore, considered to participate with common stock in undistributed earnings for purposes of computing EPS. The Company ’ s unvested restricted stock awards are participating securities, and therefore, are included in the computation of both basic and diluted earnings per common share. EPS is calculated using the two class method, under which calculations (1) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (2) exclude from the denominator the dilutive impact of the participating securities. The following is a reconciliation of earnings available to common shareholders and basic weighted average common shares outstanding to diluted weighted average common shares outstanding, reflecting the application of the two-class method: Three Months Ended March 31, 2016 2015 (In thousands, except per share data) Net income $ 2,991 $ 1,873 Preferred stock dividends - (27 ) Dividends to participating securities (6 ) - Undistributed earnings allocated to participating securities (49 ) (46 ) Net income for earnings per share calculation $ 2,936 $ 1,800 Weighted average shares outstanding, basic 7,380 7,028 Effect of dilutive equity-based awards 52 28 Weighted average shares outstanding, diluted 7,432 7,056 Net earnings per common share: Basic earnings per common share $ 0.40 $ 0.26 Diluted earnings per common share 0.40 0.26

REGULATORY MATTERS

REGULATORY MATTERS	3 Months Ended
	Mar. 31, 2016
Banking and Thrift [Abstract]
REGULATORY MATTERS	7. Regulatory Matters The Federal Reserve, the FDIC and the other federal and state bank regulatory agencies establish regulatory capital guidelines for U.S. banking organizations. As of January 1, 2015, the Company and the Bank became subject to new capital rules set forth by the Federal Reserve, the FDIC and the other federal and state bank regulatory agencies. The new capital rules revise the banking agencies ’ leverage and risk-based capital requirements and the method for calculating risk weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act (the Basel III Capital Rules). The Basel III Capital Rules establish a new minimum common equity Tier 1 capital requirement of 4.5% of risk-weighted assets; set the minimum leverage ratio at 4% of total assets; increased the minimum Tier 1 capital to risk-weighted assets requirement from 4% to 6%; and retained the minimum total capital to risk weighted assets requirement at 8.0%. A “ well-capitalized institution must generally maintain capital ratios 100-200 basis points higher than the minimum guidelines. The Basel III Capital Rules also change the risk weights assigned to certain assets. The Basel III Capital Rules assigned a higher risk weight (150%) to loans that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The Basel III Capital Rules also alter the risk weighting for other assets, including marketable equity securities that are risk weighted generally at 300%. The Basel III Capital Rules require certain components of accumulated other comprehensive income (loss) to be included for purposes of calculating regulatory capital requirements unless a one-time opt-out is exercised. The Bank did exercise its opt-out option and will exclude the unrealized gain (loss) on investment securities component of accumulated other comprehensive income (loss) from regulatory capital. The Basel III Capital Rules limit a banking organization ’ s capital distributions and certain discretionary bonus payments to executive officers if the banking organization does not hold a capital conservation buffer consisting of 2.5% of common equity Tier 1 capital to risk-weighted assets in addition to the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer is being phased in from January 1, 2016 to January 1, 2019, when the full capital conservation buffer will be effective. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company ’ s consolidated financial statements. Management believes, as of March 31, 2016, the Bank and Company meet all capital adequacy requirements to which they are subject and satisfies the criteria for a “ well capitalized institution. There are no conditions or events since then that management believes have changed this conclusion. The capital amounts and ratios for the Bank and the Company at March 31, 2016 and December 31, 2015 were as follows: To be Well Capitalized Under For Capital Prompt Corrective Actual Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank March 31, 2016 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 146,362 12.24 % $ 53,797 4.50 % $ 77,707 6.50 % Total Capital to Risk-Weighted Assets 161,172 13.48 % 95,640 8.00 % 119,550 10.00 % Tier I Capital to Risk-Weighted Assets 146,362 12.24 % 71,730 6.00 % 95,640 8.00 % Tier I Capital to Average Assets 146,362 10.85 % 53,963 4.00 % 67,454 5.00 % Bankwell Financial Group, Inc. March 31, 2016 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 131,673 10.98 % $ 53,962 4.50 % N/A N/A Total Capital to Risk-Weighted Assets 171,495 14.30 % 95,933 8.00 % N/A N/A Tier I Capital to Risk-Weighted Assets 131,673 10.98 % 71,950 6.00 % N/A N/A Tier I Capital to Average Assets 131,673 9.59 % 54,923 4.00 % N/A N/A To be Well Capitalized Under For Capital Prompt Corrective Actual Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2015 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 142,651 12.18 % $ 52,709 4.50 % $ 76,135 6.50 % Total Capital to Risk-Weighted Assets 156,820 13.39 % 93,705 8.00 % 117,131 10.00 % Tier I Capital to Risk-Weighted Assets 142,651 12.18 % 70,279 6.00 % 93,705 8.00 % Tier I Capital to Average Assets 142,651 10.84 % 52,620 4.00 % 65,775 5.00 % Bankwell Financial Group, Inc. December 31, 2015 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 128,692 10.92 % $ 53,052 4.50 % N/A N/A Total Capital to Risk-Weighted Assets 167,867 14.24 % 94,315 8.00 % N/A N/A Tier I Capital to Risk-Weighted Assets 128,692 10.92 % 70,736 6.00 % N/A N/A Tier I Capital to Average Assets 128,692 9.75 % 52,819 4.00 % N/A N/A Restrictions on dividends The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank ’ s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
STOCK-BASED COMPENSATION	8. Stock-Based Compensation Equity award plans The Company has five equity award plans, which are collectively referred to as the “ Plan. The current plan under which any future issuances of equity awards will be made is the 2012 BNC Financial Group, Inc. Stock Plan, or the 2012 Plan, amended on June 26, 2013. All equity awards made under the 2012 Plan are made by means of an award agreement, which contains the specific terms and conditions of the grant. To date, all equity awards have been in the form of share options or restricted stock. At March 31, 2016, there were 537,024 shares reserved for future issuance under the 2012 Plan. Share Options: There were no options granted during the three months ended March 31, 2016. A summary of the status of outstanding share options as of and for the three months ended March 31, 2016 is presented below: Three Months Ended March 31, 2016 Weighted Number Average of Exercise Shares Price Options outstanding at beginning of period 158,408 $ 18.12 Exercised (14,500 ) 15.48 Forfeited - - Expired (900 ) 16.00 Options outstanding at end of period 143,008 18.40 Options exercisable at end of period 141,558 18.43 Intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of share options exercised during the three months ended March 31, 2016 was $60 thousand. Restricted Stock: The following table presents the activity for restricted stock for the three months ended March 31, 2016: Three Months Ended March 31, 2016 Weighted Number Average of Grant Date Shares Fair Value Unvested at beginning of period 143,323 $ 15.92 Granted - - Vested (4,900 ) 14.80 Forfeited - - Unvested at end of period 138,423 17.69 The Company's restricted stock expense for the three months ended March 31, 2016 and 2015 was $247 thousand and $238 thousand, respectively. Market Conditions Restricted Stock: ’ s 2012 Stock Plan. At the time of the grant, the maximum number of shares that can vest was 49,400. The actual number of shares to be vested was based on market criteria over a five-year period ending on December 1, 2019 based on the Company's stock price being at or above $25.00, $27.00 and $29.00 per share over a 60-day consecutive period. These shares may have vested over a period from December 1, 2017 to December 1, 2019 based on meeting the price targets. In addition, the grantees must have been employed with the Company on the vesting date to receive the shares. The Company determined the fair value of these market condition awards in accordance with ASC 718 – Stock Compensation In January 2016 the Company modified the market conditions restricted stock grant. The total shares originally granted for the $29.00 price target have been modified to a time based restricted stock grant. The shares will vest over a four year period with the first installment to vest on December 1, 2016 and the remaining shares to vest on each annual anniversary thereafter. In addition, the shares originally granted for the $25.00 and $27.00 price targets have been modified. These shares may vest over a period from the date of the modification to December 1, 2019 based on meeting the price targets. The price targets will be met when the 30 day average stock price meets or exceeds the price targets. The Company determined the fair market value of the modified awards for the $25.00 and $27.00 price targets in accordance with ASC 718 – Stock Compensation

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	9. Derivative Instruments Information about derivative instruments at March 31, 2016 and December 31, 2015 is as follows: March 31, 2016: Fair Value (Dollars in thousands) Notional Original Asset Amount Maturity Received Paid (Liability) Cash flow hedge: Interest rate swap on FHLB advance $ 25,000 4.7 years 0.63 % 1.62 % $ (490 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.63 % 1.83 % (759 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.63 % 1.48 % (422 ) Interest rate swap on forward-starting FHLB advance $ 25,000 5.0 years 0.63 % 1.22 % (11 ) $ (1,682 ) December 31, 2015: Fair Value (Dollars in thousands) Notional Original Asset Amount Maturity Received Paid (Liability) Cash flow hedge: Interest rate swap on FHLB advance $ 25,000 4.7 years 0.61 % 1.62 % $ (181 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.61 % 1.83 % (276 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.61 % 1.48 % 181 $ (276 ) The effective portion of unrealized changes in the fair value of derivatives accounted for as cash flow hedges is reported in other comprehensive income and subsequently reclassified to earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The Bank assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged item or transaction. The ineffective portion of changes in the fair value of the derivatives is recognized directly in earnings. The Bank's cash flow hedge positions are all forward starting interest rate swap transactions. The Bank entered into the following forward starting interest rate swap transactions: Effective Date of Notional Hedged Duration of (Dollars in thousands) Amount Borrowing Borrowing Counterparty Type of borrowing: FHLB 90-day advance $ 25,000 April 1, 2014 4.7 years Bank of Montreal FHLB 90-day advance $ 25,000 January 2, 2015 5.0 years Bank of Montreal FHLB 90-day advance $ 25,000 August 26, 2015 5.0 years Bank of Montreal FHLB 90-day advance $ 25,000 July 1, 2016 5.0 years Bank of Montreal This hedge strategy converts the floating rate of interest on certain FHLB advances to fixed interest rates, thereby protecting the Bank from floating interest rate variability. Changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows were as follows for the three months ended March 31, 2016 and 2015: Three Months Ended March 31, (In thousands) 2016 2015 Interest rate swap on FHLB advance: Unrealized loss recognized in accumulated other comprehensive income $ (1,408 ) $ (568 ) Income tax benefit on items recognized in accumulated other comprehensive income 493 221 Other comprehensive loss $ (915 ) $ (347 ) Interest expense recognized on hedged FHLB advance $ 204 $ 182

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	10. Fair Value of Financial Instruments GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the statement of condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rates and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparisons to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Management uses its best judgment in estimating the fair value of the Company's financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction at either March 31, 2016 or December 31, 2015. The estimated fair value amounts have been measured as of the respective period-ends, and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at March 31, 2016 and December 31, 2015 were as follows: March 31, 2016 Carrying Fair Value Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 69,512 $ 69,512 $ 69,512 $ - $ - Federal funds sold 3,194 3,194 3,194 - - Available for sale securities 91,528 91,528 - 91,528 - Held to maturity securities 17,010 16,989 - 16,989 - Loans held for sale - - - - - Loans receivable, net 1,177,905 1,191,660 - - 1,191,660 Accrued interest receivable 4,370 4,370 - - 4,370 FHLB stock 7,158 7,158 - - 7,158 Financial Liabilities: Demand deposits $ 165,968 $ 165,968 $ - $ - $ 165,968 NOW and money market 379,079 379,079 - - 379,079 Savings 73,987 73,987 - - 73,987 Time deposits 474,700 476,993 - - 476,993 Advances from the FHLB 160,000 160,556 - - 160,556 Subordinated debentures 25,012 25,099 - - 25,099 Derivative liability 1,682 1,682 - 1,682 - December 31, 2015 Carrying Fair Value Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 49,562 $ 49,562 $ 49,562 $ - $ - Federal funds sold 39,035 39,035 39,035 - - Available for sale securities 40,581 40,581 - 40,581 - Held to maturity securities 10,226 10,228 - 10,228 - Loans held for sale - - - - - Loans receivable, net 1,129,748 1,135,227 - - 1,135,227 Accrued interest receivable 4,071 4,071 - - 4,071 FHLB stock 6,554 6,554 - - 6,554 Financial Liabilities: Demand deposits $ 164,553 $ 164,553 $ - $ - $ 164,553 NOW and money market 347,846 347,846 - - 347,846 Savings 97,846 97,846 - - 97,846 Time deposits 436,697 438,214 - - 438,214 Advances from the FHLB 120,000 120,025 - - 120,025 Subordinated debentures 25,000 24,505 - - 24,505 Derivative liability 276 276 - 276 - The following methods and assumptions were used by management in estimating the fair value of its financial instruments: Cash and due from banks, federal funds sold and accrued interest receivable: Investment securities: FHLB stock: Loans held for sale: Loans receivable Derivative asset (liability): Deposits: Borrowings and Subordinated Debentures:

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	11. Fair Value Measurements The Company is required to account for certain assets and liabilities at fair value on a recurring or non-recurring basis. As discussed in Note 1, the Company determines fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 — Significant other observable inputs other than Level 1 prices such as quoted prices for similar as s Level 3 — Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Valuation techniques based on unobservable inputs are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows and the selection of discount rates that may appropriately reflect market and credit risks. Changes in these judgments often have a material impact on the fair value estimates. In addition, since these estimates are as of a specific point in time they are susceptible to material near-term changes. Financial instruments measured at fair value on a recurring basis The following tables detail the financial instruments carried at fair value on a recurring basis at March 31, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the three months ended March 31, 2016 and the year ended December 31, 2015. Fair Value (In thousands) Level 1 Level 2 Level 3 March 31, 2016: Available for sale investment securities: U.S. Government and agency obligations $ - $ 58,696 $ - State agency, U.S. territories and municipal obligations - 17,034 - Corporate bonds - 11,571 - Mortgage backed securities - 4,227 - Derivative Liability - (1,682 ) - December 31, 2015: Available for sale investment securities: U.S. Government and agency obligations $ - $ 7,143 $ - State agency, U.S. territories and municipal obligations - 17,504 - Corporate bonds - 11,437 - Mortgage backed securities - 4,497 - Derivative Liability - (276 ) - Available for sale investment securities Derivative liabilities: Financial instruments measured at fair value on a nonrecurring basis Certain assets are measured at fair value on a non-recurring basis in accordance with GAAP. These include assets that are measured at the-lower-of-cost-or-market that were recognized at fair value below cost at the end of the period as well as assets that are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The following table details the financial instruments carried at fair value on a nonrecurring basis at March 31, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value (In thousands) Level 1 Level 2 Level 3 March 31, 2016: Impaired loans $ - $ - $ 11,110 Foreclosed real estate - - 878 December 31, 2015: Impaired loans $ - $ - $ 10,922 Foreclosed real estate - - 1,248 The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at March 31, 2016 and December 31, 2015: Valuation (Dollars in thousands) Fair Value Methodology Unobservable Input Range March 31, 2016: Impaired loans $ 11,110 Appraisals Discount for dated appraisals 8.00% to 10.00% Discounted cash flows Discount rate 3.25% to 6.25% Foreclosed real estate $ 878 Appraisals Discount for dated appraisals 10.0% to 20.0% December 31, 2015: Impaired loans $ 10,922 Appraisals Discount for dated appraisals 8.00% to 10.00% Discounted cash flows Discount rate 3.25% to 7.00% Foreclosed real estate $ 1,248 Appraisals Discount for dated appraisals 10.0% to 25.0% Impaired loans: Foreclosed real estate:

SUBORDINATED DEBENTURES

SUBORDINATED DEBENTURES	3 Months Ended
	Mar. 31, 2016
Subordinated Borrowings [Abstract]
SUBORDINATED DEBENTURES	12. Subordinated Debentures On August 19, 2015 the Company completed a private placement of $25.5 million in aggregate principal amount of fixed rate subordinated notes (the “Notes”) to certain institutional investors. The Notes are non-callable for five years, have a stated maturity of August 15, 2025, and bear interest at a quarterly pay fixed rate of 5.75% per annum to the maturity date or the early redemption date. The Notes have been structured to qualify for the Company as Tier 2 capital under regulatory guidelines. The Company will use the net proceeds from the sales of the Notes for general corporate purposes. The Notes were assigned an investment grade rating of BBB by Kroll Bond Rating Agency.

NATURE OF OPERATIONS AND SUMM21

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation	Principles of consolidation The consolidated interim financial statements include the accounts of the Company and the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities as of the date of the balance sheet and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, stock-based compensation and derivative instrument valuation.
Basis of consolidated financial statement presentation	Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-1 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2016. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2015.
Significant concentrations of credit risk	Significant concentrations of credit risk Most of the Company's activities are with customers located within Fairfield and New Haven Counties and the surrounding region of Connecticut, and declines in property values in these areas could significantly impact the Company. The Company has significant concentrations in commercial real estate loans. Management does not believe they present any special risk. The Company does not have any significant concentrations in any one industry or customer.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to the 2016 financial statement presentation. These reclassifications only changed the reporting categories and did not affect the results of operat i
Recent accounting pronouncements	Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. ASU No. 2014-09 – Revenue from Contracts with Customers (Topic 606). ASU No. 2014-12, Compensation – Stock Compensation (Topic 718): “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. Under this ASU, separate, net-of-tax s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-20): “Simplifying the Presentation of Debt Issuance Costs.” ASU No. 2015-16, Business Combinations (Topic 805): “Simplifying the Accounting for Measurement Period Adjustments.” s financial statements and the Company does not expect the application of this guidance will have a material impact on the Company s financial statements in the future. ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): “Recognition and Measurement of Financial Assets and Financial Liabilities.” “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The standard is effective for the Company beginning on January 1, 2018. The Company does not expect the application of this guidance to have a material impact on the Company s financial statements. ASU 2016-02, Leases (Topic 842). s financial statements. ASU 2016-09, Compensation – Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” accounting for an employee s use of shares to satisfy the employer s statutory income tax withholding obligation and for forfeitures is changing and the update requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The amendments in this update will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company does not expect the application of this guidance to have a material impact on the Company s financial statements.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities	March 31, 2016 Amortized Gross Unrealized Fair Cost Gains Losses Value (In thousands) Available for sale securities: U.S. Government and agency obligations Due from one through five years $ 57,316 $ 685 $ (5 ) $ 57,996 Due from five through ten years 294 6 - 300 Due after ten years 400 - - 400 58,010 691 (5 ) 58,696 State agency, U.S. Territories and municipal obligations Due from one through five years 825 48 - 873 Due from five through ten years 9,694 475 (388 ) 9,781 Due after ten years 5,995 385 - 6,380 16,514 908 (388 ) 17,034 Corporate bonds Due in less than one year 1,007 17 - 1,024 Due from one through five years 9,215 283 - 9,498 Due from five through ten years 1,012 37 - 1,049 11,234 337 - 11,571 Government-sponsored mortgage backed securities No contractual maturity 4,121 113 (7 ) 4,227 4,121 113 (7 ) 4,227 Total available for sale securities $ 89,879 $ 2,049 $ (400 ) $ 91,528 Held to maturity securities: State agency, U.S. Territories and municipal obligations Due after ten years $ 15,823 $ - $ - $ 15,823 Corporate bonds Due from one through five years 1,000 - (40 ) 960 Government-sponsored mortgage backed securities No contractual maturity 187 19 - 206 Total held to maturity securities $ 17,010 $ 19 $ (40 ) $ 16,989 December 31, 2015 Amortized Gross Unrealized Fair Cost Gains Losses Value (In thousands) Available for sale securities: U.S. Government and agency obligations Due from one through five years $ 6,198 $ - $ (77 ) $ 6,121 Due from five through ten years 394 4 (2 ) 396 Due after ten years 647 - (21 ) 626 7,239 4 (100 ) 7,143 State agency, U.S. Territories and municipal obligations Due from one through five years 520 39 - 559 Due from five through ten years 9,762 361 (322 ) 9,801 Due after ten years 6,778 367 (1 ) 7,144 17,060 767 (323 ) 17,504 Corporate bonds Due in less than one year 1,010 22 - 1,032 Due from one through five years 9,233 156 (9 ) 9,380 Due from five through ten years 1,013 12 - 1,025 11,256 190 (9 ) 11,437 Government-sponsored mortgage backed securities No contractual maturity 4,400 107 (10 ) 4,497 4,400 107 (10 ) 4,497 Total available for sale securities $ 39,955 $ 1,068 $ (442 ) $ 40,581 Held to maturity securities: State agency, U.S. Territories and municipal obligations Due after ten years $ 9,026 $ - $ - $ 9,026 Corporate bonds Due from one through five years 1,000 - (19 ) 981 Government-sponsored mortgage backed securities No contractual maturity 200 21 - 221 Total held to maturity securities $ 10,226 $ 21 $ (19 ) $ 10,228
Schedule of fair value and related unrealized losses of temporarily impaired investment securities, aggregated by investment category	Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss (In thousands) March 31, 2016 U.S. Government and agency obligations $ 998 $ (2 ) $ 1,097 $ (3 ) $ 2,095 $ (5 ) State agency, U.S. Territories and municipal obligations - - 608 (388 ) 608 (388 ) Corporate bonds 960 (40 ) - - 960 (40 ) Government-sponsored mortgage backed securities 339 (2 ) 450 (5 ) 789 (7 ) Total investment securities $ 2,297 $ (44 ) $ 2,155 $ (396 ) $ 4,452 $ (440 ) December 31, 2015 U.S. Government and agency obligations $ 5,486 $ (60 ) $ 1,259 $ (40 ) $ 6,745 $ (100 ) State agency, U.S. Territories and municipal obligations 126 (1 ) 665 (322 ) 791 (323 ) Corporate bonds 1,970 (28 ) - - 1,970 (28 ) Government-sponsored mortgage backed securities 768 (4 ) 413 (6 ) 1,181 (10 ) Total investment securities $ 8,350 $ (93 ) $ 2,337 $ (368 ) $ 10,687 $ (461 )

LOANS RECEIVABLE AND ALLOWANC23

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of summary of the loan portfolio	March 31, 2016 December 31, 2015 (In thousands) Originated Acquired Total Originated Acquired Total Real estate loans: Residential $ 181,345 $ 2,789 $ 184,134 $ 174,311 $ 2,873 $ 177,184 Commercial 697,600 53,971 751,571 643,524 54,018 697,542 Construction 82,435 93 82,528 81,242 1,031 82,273 Home equity 9,319 6,470 15,789 9,146 6,780 15,926 970,699 63,323 1,034,022 908,223 64,702 972,925 Commercial business 139,897 21,006 160,903 150,479 22,374 172,853 Consumer 63 1,489 1,552 117 1,618 1,735 Total loans 1,110,659 85,818 1,196,477 1,058,819 88,694 1,147,513 Allowance for loan losses (14,787 ) (23 ) (14,810 ) (14,128 ) (41 ) (14,169 ) Deferred loan origination fees, net (3,771 ) - (3,771 ) (3,605 ) - (3,605 ) Unamortized loan premiums 9 - 9 9 - 9 Loans receivable, net $ 1,092,110 $ 85,795 $ 1,177,905 $ 1,041,095 $ 88,653 $ 1,129,748
Schedule of activity in the accretable yields for the acquired loan portfolio	(In thousands) Three Months Ended March 31, 2016 2015 Balance at beginning of period $ 871 $ 1,382 Acquisition - - Accretion (49 ) (94 ) Other (a) (51 ) (63 ) Balance at end of period $ 771 $ 1,225 a) Represents changes in cash flows expected to be collected due to loan sales or payoffs.
Schedule of allowance for loan losses	Residential Commercial Home Commercial Real Estate Real Estate Construction Equity Business Consumer Total (In thousands) Three Months Ended March 31, 2016 Originated Beginning balance $ 1,444 $ 7,693 $ 1,504 $ 174 $ 3,310 $ 3 $ 14,128 Charge-offs - - - - - (1 ) (1 ) Recoveries - - - - - 5 5 Provisions 59 741 79 4 (224 ) (4 ) 655 Ending balance $ 1,503 $ 8,434 $ 1,583 $ 178 $ 3,086 $ 3 $ 14,787 Acquired Beginning balance $ - $ 12 $ - $ - $ 24 $ 5 $ 41 Charge-offs - - (7 ) - - (2 ) (9 ) Recoveries - - - - - - - Provisions - 1 7 - (18 ) 1 (9 ) Ending balance $ - $ 13 $ - $ - $ 6 $ 4 $ 23 Total Beginning balance $ 1,444 $ 7,705 $ 1,504 $ 174 $ 3,334 $ 8 $ 14,169 Charge-offs - - (7 ) - - (3 ) (10 ) Recoveries - - - - - 5 5 Provisions 59 742 86 4 (242 ) (3 ) 646 Ending balance $ 1,503 $ 8,447 $ 1,583 $ 178 $ 3,092 $ 7 $ 14,810 Residential Commercial Home Commercial Real Estate Real Estate Construction Equity Business Consumer Total (In thousands) Three Months Ended March 31, 2015 Originated Beginning balance $ 1,431 $ 5,480 $ 1,102 $ 205 $ 2,638 $ 4 $ 10,860 Charge-offs - - - - - - - Recoveries - - - - - 1 1 Provisions (25 ) 587 118 (2 ) 44 (2 ) 720 Ending balance $ 1,406 $ 6,067 $ 1,220 $ 203 $ 2,682 $ 3 $ 11,581 Acquired Beginning balance $ - $ - $ - $ - $ - $ - $ - Charge-offs - - - - - - - Recoveries - - - - - 2 2 Provisions - - - - 12 1 13 Ending balance $ - $ - $ - $ - $ 12 $ 3 $ 15 Total Beginning balance $ 1,431 $ 5,480 $ 1,102 $ 205 $ 2,638 $ 4 $ 10,860 Charge-offs - - - - - - - Recoveries - - - - - 3 3 Provisions (25 ) 587 118 (2 ) 56 (1 ) 733 Ending balance $ 1,406 $ 6,067 $ 1,220 $ 203 $ 2,694 $ 6 $ 11,596
Schedule of portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio	Originated Loans Acquired Loans Total Portfolio Allowance Portfolio Allowance Portfolio Allowance (In thousands) March 31, 2016 Loans individually evaluated for impairment: Residential real estate $ 1,833 $ - $ - $ - $ 1,833 $ - Commercial real estate 5,813 - 595 - 6,408 - Home equity 414 - 196 - 610 - Commercial business 859 70 1,396 1 2,255 71 Consumer - - 4 4 4 4 Subtotal 8,919 70 2,191 5 11,110 75 Loans collectively evaluated for impairment: Residential real estate 179,512 1,503 2,789 - 182,301 1,503 Commercial real estate 691,787 8,435 53,376 13 745,163 8,448 Construction 82,435 1,583 93 - 82,528 1,583 Home equity 8,905 178 6,274 - 15,179 178 Commercial business 139,038 3,015 19,610 5 158,648 3,020 Consumer 63 3 1,485 - 1,548 3 Subtotal 1,101,740 14,717 83,627 18 1,185,367 14,735 Total $ 1,110,659 $ 14,787 $ 85,818 $ 23 $ 1,196,477 $ 14,810 Originated Loans Acquired Loans Total Portfolio Allowance Portfolio Allowance Portfolio Allowance (In thousands) December 31, 2015 Loans individually evaluated for impairment: Residential real estate $ 1,833 $ 2 $ - $ - $ 1,833 $ 2 Commercial real estate 4,291 - 762 12 5,053 12 Home equity 422 - 197 - 619 - Commercial business 1,977 71 1,433 21 3,410 92 Consumer - - 7 5 7 5 Subtotal 8,523 73 2,399 38 10,922 111 Loans collectively evaluated for impairment: Residential real estate 172,478 1,442 2,873 - 175,351 1,442 Commercial real estate 639,233 7,692 53,256 - 692,489 7,692 Construction 81,242 1,504 1,031 - 82,273 1,504 Home equity 8,724 174 6,583 - 15,307 174 Commercial business 148,502 3,239 20,941 3 169,443 3,242 Consumer 117 4 1,611 - 1,728 4 Subtotal 1,050,296 14,055 86,295 3 1,136,591 14,058 Total $ 1,058,819 $ 14,128 $ 88,694 $ 41 $ 1,147,513 $ 14,169
Schedule of loan portfolio quality indicators by portfolio segment	Commercial Credit Quality Indicators At March 31, 2016 At December 31, 2015 Commercial Commercial Commercial Commercial Real Estate Construction Business Real Estate Construction Business (In thousands) Originated loans: Pass $ 691,787 $ 82,435 $ 137,764 $ 638,709 $ 81,242 $ 148,748 Special mention 2,593 - 1,547 1,595 - 1,118 Substandard 3,220 - 522 3,220 - 549 Doubtful - - - - - - Loss - - 64 - - 64 Total originated loans 697,600 82,435 139,897 643,524 81,242 150,479 Acquired loans: Pass 51,453 93 19,441 52,427 230 20,794 Special mention 1,307 - 635 - - 598 Substandard 1,211 - 930 1,591 801 982 Doubtful - - - - - - Loss - - - - - - Total acquired loans 53,971 93 21,006 54,018 1,031 22,374 Total $ 751,571 $ 82,528 $ 160,903 $ 697,542 $ 82,273 $ 172,853 Residential and Consumer Credit Quality Indicators At March 31, 2016 At December 31, 2015 Residential Residential Real Estate Home Equity Consumer Real Estate Home Equity Consumer (In thousands) Originated loans: Pass $ 179,512 $ 8,904 $ 63 $ 172,478 $ 8,725 $ 117 Special mention 864 78 - 864 80 - Substandard 969 337 - 969 341 - Doubtful - - - - - - Loss - - - - - - Total originated loans 181,345 9,319 63 174,311 9,146 117 Acquired loans: Pass 2,789 6,230 1,419 2,873 6,545 1,539 Special mention - - - - - - Substandard - 240 70 - 235 79 Doubtful - - - - - - Loss - - - - - - Total acquired loans 2,789 6,470 1,489 2,873 6,780 1,618 Total $ 184,134 $ 15,789 $ 1,552 $ 177,184 $ 15,926 $ 1,735
Schedule of information with respect to our loan portfolio delinquencies by portfolio segment and amount	As of March 31, 2016 Carrying Amount > Greater 90 Days 31-60 Days 61-90 Days Than 90 Total Past and Past Due Past Due Days Due Current Accruing (In thousands) Originated Loans Real estate loans: Residential real estate $ - $ - $ 969 $ 969 $ 180,376 $ - Commercial real estate - - - - 697,600 - Construction 1,068 - - 1,068 81,367 - Home equity 195 - - 195 9,124 - Commercial business - - 64 64 139,833 - Consumer - - 4 4 59 - Total originated loans 1,263 - 1,037 2,300 1,108,359 - Acquired Loans Real estate loans: Residential real estate - - - - 2,789 - Commercial real estate 655 - 595 1,250 52,721 89 Construction - - - - 93 - Home equity 100 162 190 452 6,018 - Commercial business 278 - 174 452 20,554 - Consumer 16 - - 16 1,473 - Total acquired loans 1,049 162 959 2,170 83,648 89 Total loans $ 2,312 $ 162 $ 1,996 $ 4,470 $ 1,192,007 $ 89 As of December 31, 2015 Carrying Amount > Greater 90 Days 31-60 Days 61-90 Days Than 90 Total Past and Past Due Past Due Days Due Current Accruing (In thousands) Originated Loans Real estate loans: Residential real estate $ - $ - $ 969 $ 969 $ 173,342 $ - Commercial real estate - 311 - 311 643,213 - Construction - - - - 81,242 - Home equity 198 - - 198 8,948 - Commercial business 1,078 100 343 1,521 148,958 - Consumer - - - - 117 - Total originated loans 1,276 411 1,312 2,999 1,055,820 - Acquired Loans Real estate loans: Residential real estate - - - - 2,873 - Commercial real estate 333 - 762 1,095 52,923 218 Construction - - 801 801 230 801 Home equity 100 162 191 453 6,327 - Commercial business 262 71 101 434 21,940 86 Consumer 17 - - 17 1,601 - Total acquired loans 712 233 1,855 2,800 85,894 1,105 Total loans $ 1,988 $ 644 $ 3,167 $ 5,799 $ 1,141,714 $ 1,105
Schedule of nonaccrual loans by portfolio segment	March 31, December 31, 2016 2015 (In thousands) Residential real estate $ 969 $ 970 Commercial real estate 1,113 1,264 Home equity 392 395 Commercial business 918 1,160 Consumer 6 2 Total $ 3,398 $ 3,791
Schedule of summarizes impaired loans	Carrying Amount Unpaid Principal Balance Associated Allowance March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (In thousands) Originated Impaired loans without a valuation allowance: Residential real estate $ 1,833 $ 969 $ 1,833 $ 969 $ - $ - Commercial real estate 5,813 4,291 5,813 4,291 - - Home equity 414 422 419 424 - - Commercial business 353 1,351 378 1,372 - - Total impaired loans without a valuation allowance 8,413 7,033 8,443 7,056 - - Impaired loans with a valuation allowance: Residential real estate - 864 - 864 - 2 Commercial business 506 626 506 690 70 71 Total impaired loans with a valuation allowance 506 1,490 506 1,554 70 73 Total originated impaired loans $ 8,919 $ 8,523 $ 8,949 $ 8,610 $ 70 $ 73 Acquired Impaired loans without a valuation allowance: Commercial real estate $ 595 $ 611 $ 678 $ 678 $ - $ - Commercial business 1,277 963 1,281 963 - - Home equity 196 197 200 200 - - Total impaired loans without a valuation allowance 2,068 1,771 2,159 1,841 - - Impaired loans with a valuation allowance: Commercial Real Estate - 151 - 151 - 12 Commercial business 119 470 131 480 1 21 Consumer 4 7 4 7 4 5 Total impaired loans with a valuation allowance 123 628 135 638 5 38 Total acquired impaired loans $ 2,191 $ 2,399 $ 2,294 $ 2,479 $ 5 $ 38 Average Recorded Investment Interest Income Recognized March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (In thousands) Originated Impaired loans without a valuation allowance: Residential real estate $ 1,833 $ 973 $ 7 $ 27 Commercial real estate 5,821 4,308 60 124 Home equity 418 429 2 10 Commercial business 357 1,374 2 49 Total impaired loans without a valuation allowance 8,429 7,084 71 210 Impaired loans with a valuation allowance: Residential real estate - 864 - 28 Commercial business 518 673 6 34 Total impaired loans with a valuation allowance 518 1,537 6 62 Total originated impaired loans $ 8,947 $ 8,621 $ 77 $ 272 Acquired Impaired loans without a valuation allowance: Commercial real estate $ 602 $ 602 $ - $ 6 Commercial business 1,288 999 14 54 Home equity 197 198 - 2 Total impaired loans without a valuation allowance 2,087 1,799 14 62 Impaired loans with a valuation allowance: Commercial real estate - 151 - 3 Commercial business 123 506 - 14 Consumer 4 7 1 1 Total impaired loans with a valuation allowance 127 664 1 18 Total acquired impaired loans $ 2,214 $ 2,463 $ 15 $ 80
Schedule of loans whose terms were modified as TDRs during the periods	Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2016 2015 2016 2015 2016 2015 Three Months Ended March 31, Commercial real estate - 2 $ - $ 3,220 $ - $ 3,220 Commercial business - 1 - 54 - 54 Total - 3 $ - $ 3,274 $ - $ 3,274
Schedule of information on how loans were modified as a TDR	Three Months Ended March 31, 2016 2015 (In thousands) Maturity/amortization concession $ - $ 54 Maturity and payment concession - 3,220 Total $ - $ 3,274

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
Comprehensive Income [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	Net Unrealized Gain Net Unrealized Gain (Loss) on Available (Loss) on Interest for Sale Securities Rate Swap Total (In thousands) Balance at December 31, 2015 $ 405 $ (178 ) $ 227 Other comprehensive income (loss) before reclassifications 666 (915 ) (249 ) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income (loss) 666 (915 ) (249 ) Balance at March 31, 2016 $ 1,071 $ (1,093 ) $ (22 ) Net Unrealized Gain Net Unrealized Gain (Loss) on Available (Loss) on Interest for Sale Securities Rate Swap Total (In thousands) Balance at December 31, 2014 $ 644 $ (113 ) $ 531 Other comprehensive income (loss) before reclassifications 199 (347 ) (148 ) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income (loss) 199 (347 ) (148 ) Balance at March 31, 2015 $ 843 $ (460 ) $ 383

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding	Three Months Ended March 31, 2016 2015 (In thousands, except per share data) Net income $ 2,991 $ 1,873 Preferred stock dividends - (27 ) Dividends to participating securities (6 ) - Undistributed earnings allocated to participating securities (49 ) (46 ) Net income for earnings per share calculation $ 2,936 $ 1,800 Weighted average shares outstanding, basic 7,380 7,028 Effect of dilutive equity-based awards 52 28 Weighted average shares outstanding, diluted 7,432 7,056 Net earnings per common share: Basic earnings per common share $ 0.40 $ 0.26 Diluted earnings per common share 0.40 0.26

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	3 Months Ended
	Mar. 31, 2016
Banking and Thrift [Abstract]
Schedule of capital amounts and ratios	To be Well Capitalized Under For Capital Prompt Corrective Actual Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank March 31, 2016 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 146,362 12.24 % $ 53,797 4.50 % $ 77,707 6.50 % Total Capital to Risk-Weighted Assets 161,172 13.48 % 95,640 8.00 % 119,550 10.00 % Tier I Capital to Risk-Weighted Assets 146,362 12.24 % 71,730 6.00 % 95,640 8.00 % Tier I Capital to Average Assets 146,362 10.85 % 53,963 4.00 % 67,454 5.00 % Bankwell Financial Group, Inc. March 31, 2016 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 131,673 10.98 % $ 53,962 4.50 % N/A N/A Total Capital to Risk-Weighted Assets 171,495 14.30 % 95,933 8.00 % N/A N/A Tier I Capital to Risk-Weighted Assets 131,673 10.98 % 71,950 6.00 % N/A N/A Tier I Capital to Average Assets 131,673 9.59 % 54,923 4.00 % N/A N/A To be Well Capitalized Under For Capital Prompt Corrective Actual Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2015 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 142,651 12.18 % $ 52,709 4.50 % $ 76,135 6.50 % Total Capital to Risk-Weighted Assets 156,820 13.39 % 93,705 8.00 % 117,131 10.00 % Tier I Capital to Risk-Weighted Assets 142,651 12.18 % 70,279 6.00 % 93,705 8.00 % Tier I Capital to Average Assets 142,651 10.84 % 52,620 4.00 % 65,775 5.00 % Bankwell Financial Group, Inc. December 31, 2015 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 128,692 10.92 % $ 53,052 4.50 % N/A N/A Total Capital to Risk-Weighted Assets 167,867 14.24 % 94,315 8.00 % N/A N/A Tier I Capital to Risk-Weighted Assets 128,692 10.92 % 70,736 6.00 % N/A N/A Tier I Capital to Average Assets 128,692 9.75 % 52,819 4.00 % N/A N/A

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of status of outstanding stock options	Three Months Ended March 31, 2016 Weighted Number Average of Exercise Shares Price Options outstanding at beginning of period 158,408 $ 18.12 Exercised (14,500 ) 15.48 Forfeited - - Expired (900 ) 16.00 Options outstanding at end of period 143,008 18.40 Options exercisable at end of period 141,558 18.43
Schedule of activity for restricted stock	Three Months Ended March 31, 2016 Weighted Number Average of Grant Date Shares Fair Value Unvested at beginning of period 143,323 $ 15.92 Granted - - Vested (4,900 ) 14.80 Forfeited - - Unvested at end of period 138,423 17.69

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	March 31, 2016: Fair Value (Dollars in thousands) Notional Original Asset Amount Maturity Received Paid (Liability) Cash flow hedge: Interest rate swap on FHLB advance $ 25,000 4.7 years 0.63 % 1.62 % $ (490 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.63 % 1.83 % (759 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.63 % 1.48 % (422 ) Interest rate swap on forward-starting FHLB advance $ 25,000 5.0 years 0.63 % 1.22 % (11 ) $ (1,682 ) December 31, 2015: Fair Value (Dollars in thousands) Notional Original Asset Amount Maturity Received Paid (Liability) Cash flow hedge: Interest rate swap on FHLB advance $ 25,000 4.7 years 0.61 % 1.62 % $ (181 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.61 % 1.83 % (276 ) Interest rate swap on FHLB advance $ 25,000 5.0 years 0.61 % 1.48 % 181 $ (276 )
Schedule of interest rate swap transactions	Effective Date of Notional Hedged Duration of (Dollars in thousands) Amount Borrowing Borrowing Counterparty Type of borrowing: FHLB 90-day advance $ 25,000 April 1, 2014 4.7 years Bank of Montreal FHLB 90-day advance $ 25,000 January 2, 2015 5.0 years Bank of Montreal FHLB 90-day advance $ 25,000 August 26, 2015 5.0 years Bank of Montreal FHLB 90-day advance $ 25,000 July 1, 2016 5.0 years Bank of Montreal
Schedule of changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows	Three Months Ended March 31, (In thousands) 2016 2015 Interest rate swap on FHLB advance: Unrealized loss recognized in accumulated other comprehensive income $ (1,408 ) $ (568 ) Income tax benefit on items recognized in accumulated other comprehensive income 493 221 Other comprehensive loss $ (915 ) $ (347 ) Interest expense recognized on hedged FHLB advance $ 204 $ 182

FAIR VALUE OF FINANCIAL INSTR29

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of carrying values and fair values of the Company s financial instruments	March 31, 2016 Carrying Fair Value Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 69,512 $ 69,512 $ 69,512 $ - $ - Federal funds sold 3,194 3,194 3,194 - - Available for sale securities 91,528 91,528 - 91,528 - Held to maturity securities 17,010 16,989 - 16,989 - Loans held for sale - - - - - Loans receivable, net 1,177,905 1,191,660 - - 1,191,660 Accrued interest receivable 4,370 4,370 - - 4,370 FHLB stock 7,158 7,158 - - 7,158 Financial Liabilities: Demand deposits $ 165,968 $ 165,968 $ - $ - $ 165,968 NOW and money market 379,079 379,079 - - 379,079 Savings 73,987 73,987 - - 73,987 Time deposits 474,700 476,993 - - 476,993 Advances from the FHLB 160,000 160,556 - - 160,556 Subordinated debentures 25,012 25,099 - - 25,099 Derivative liability 1,682 1,682 - 1,682 - December 31, 2015 Carrying Fair Value Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 49,562 $ 49,562 $ 49,562 $ - $ - Federal funds sold 39,035 39,035 39,035 - - Available for sale securities 40,581 40,581 - 40,581 - Held to maturity securities 10,226 10,228 - 10,228 - Loans held for sale - - - - - Loans receivable, net 1,129,748 1,135,227 - - 1,135,227 Accrued interest receivable 4,071 4,071 - - 4,071 FHLB stock 6,554 6,554 - - 6,554 Financial Liabilities: Demand deposits $ 164,553 $ 164,553 $ - $ - $ 164,553 NOW and money market 347,846 347,846 - - 347,846 Savings 97,846 97,846 - - 97,846 Time deposits 436,697 438,214 - - 438,214 Advances from the FHLB 120,000 120,025 - - 120,025 Subordinated debentures 25,000 24,505 - - 24,505 Derivative liability 276 276 - 276 -

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of financial instruments carried at fair value on a recurring basis	Fair Value (In thousands) Level 1 Level 2 Level 3 March 31, 2016: Available for sale investment securities: U.S. Government and agency obligations $ - $ 58,696 $ - State agency, U.S. territories and municipal obligations - 17,034 - Corporate bonds - 11,571 - Mortgage backed securities - 4,227 - Derivative Liability - (1,682 ) - December 31, 2015: Available for sale investment securities: U.S. Government and agency obligations $ - $ 7,143 $ - State agency, U.S. territories and municipal obligations - 17,504 - Corporate bonds - 11,437 - Mortgage backed securities - 4,497 - Derivative Liability - (276 ) -
Schedule of financial instruments carried at fair value on a nonrecurring basis	Fair Value (In thousands) Level 1 Level 2 Level 3 March 31, 2016: Impaired loans $ - $ - $ 11,110 Foreclosed real estate - - 878 December 31, 2015: Impaired loans $ - $ - $ 10,922 Foreclosed real estate - - 1,248
Schedule of quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis	Valuation (Dollars in thousands) Fair Value Methodology Unobservable Input Range March 31, 2016: Impaired loans $ 11,110 Appraisals Discount for dated appraisals 8.00% to 10.00% Discounted cash flows Discount rate 3.25% to 6.25% Foreclosed real estate $ 878 Appraisals Discount for dated appraisals 10.0% to 20.0% December 31, 2015: Impaired loans $ 10,922 Appraisals Discount for dated appraisals 8.00% to 10.00% Discounted cash flows Discount rate 3.25% to 7.00% Foreclosed real estate $ 1,248 Appraisals Discount for dated appraisals 10.0% to 25.0%

NATURE OF OPERATIONS AND SUMM31

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) $ in Millions	Oct. 01, 2014USD ($)Branch	Nov. 05, 2013USD ($)Branch	Aug. 19, 2015USD ($)
Business Acquisition [Line Items]
Debt issuance costs as direct deduction from debt liability			$ 0.5
Wilton Bank ("Wilton")
Business Acquisition [Line Items]
Number of branch acquired | Branch		1
Amount of loans acquired		$ 25.1
Amount of deposits acquired		$ 64.2
Quinnipiac
Business Acquisition [Line Items]
Number of branch acquired | Branch	2
Amount of loans acquired	$ 97.8
Amount of deposits acquired	$ 100.6

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Available for sale securities:
Amortized Cost	$ 89,879	$ 39,955
Gross Unrealized Gains	2,049	1,068
Gross Unrealized Losses	(400)	(442)
Fair Value	91,528	40,581
Held to maturity securities:
Amortized Cost	17,010	10,226
Gross Unrealized Gains	19	21
Gross Unrealized Losses	(40)	(19)
Fair value	16,989	10,228
U.S. Government and agency obligations
Available for sale securities:
Due from one through five years, Amortized Cost	57,316	$ 6,198
Due from one through five years, Gross Unrealized Gains	685
Due from one through five years, Gross Unrealized Losses	(5)	$ (77)
Due from one through five years, Fair Value	57,996	6,121
Due from five through ten years, Amortized Cost	294	394
Due from five through ten years, Gross Unrealized Gains	$ 6	4
Due from five through ten years, Gross Unrealized Losses		(2)
Due from five through ten years, Fair Value	$ 300	396
Due after ten years, Amortized Cost	$ 400	$ 647
Due after ten years, Gross Unrealized Gains
Due after ten years, Gross Unrealized Losses		$ (21)
Due after ten years, Fair Value	$ 400	626
Amortized Cost	58,010	7,239
Gross Unrealized Gains	691	4
Gross Unrealized Losses	(5)	(100)
Fair Value	58,696	7,143
State agency, U.S. territories and municipal obligations
Available for sale securities:
Due from one through five years, Amortized Cost	825	520
Due from one through five years, Gross Unrealized Gains	$ 48	$ 39
Due from one through five years, Gross Unrealized Losses
Due from one through five years, Fair Value	$ 873	$ 559
Due from five through ten years, Amortized Cost	9,694	9,762
Due from five through ten years, Gross Unrealized Gains	475	361
Due from five through ten years, Gross Unrealized Losses	(388)	(322)
Due from five through ten years, Fair Value	9,781	9,801
Due after ten years, Amortized Cost	5,995	6,778
Due after ten years, Gross Unrealized Gains	$ 385	367
Due after ten years, Gross Unrealized Losses		(1)
Due after ten years, Fair Value	$ 6,380	7,144
Amortized Cost	16,514	17,060
Gross Unrealized Gains	908	767
Gross Unrealized Losses	(388)	(323)
Fair Value	17,034	17,504
Held to maturity securities:
Due after ten years, Amortized Cost	$ 15,823	$ 9,026
Due after ten years, Gross Unrealized Gains
Due after ten years, Gross Unrealized Losses
Due after ten years, Fair Value	$ 15,823	$ 9,026
Corporate bonds
Available for sale securities:
Due in less than one year, Amortized Cost	1,007	1,010
Due in less than one year, Gross Unrealized Gains	$ 17	$ 22
Due in less than one year, Gross Unrealized Losses
Due in less than one year, Fair Value	$ 1,024	$ 1,032
Due from one through five years, Amortized Cost	9,215	9,233
Due from one through five years, Gross Unrealized Gains	$ 283	156
Due from one through five years, Gross Unrealized Losses		(9)
Due from one through five years, Fair Value	$ 9,498	9,380
Due from five through ten years, Amortized Cost	1,012	1,013
Due from five through ten years, Gross Unrealized Gains	$ 37	$ 12
Due from five through ten years, Gross Unrealized Losses
Due from five through ten years, Fair Value	$ 1,049	$ 1,025
Amortized Cost	11,234	11,256
Gross Unrealized Gains	$ 337	190
Gross Unrealized Losses		(9)
Fair Value	$ 11,571	11,437
Held to maturity securities:
Due from one through five years, Amortized Cost	$ 1,000	$ 1,000
Due from one through five years, Gross Unrealized Gains
Due from one through five years, Gross Unrealized Losses	$ (40)	$ (19)
Due from one through five years, Fair Value	960	981
Government-sponsored mortgage backed securities
Available for sale securities:
No contractual maturity Amortized Cost	4,121	4,400
No contractual maturity Gross Unrealized Gains	113	107
No contractual maturity Gross Unrealized Losses	(7)	(10)
No contractual maturity Fair Value	4,227	4,497
Amortized Cost	4,121	4,400
Gross Unrealized Gains	113	107
Gross Unrealized Losses	(7)	(10)
Fair Value	4,227	4,497
Held to maturity securities:
No contractual maturity, Amortized Cost	187	200
No contractual maturity, Gross Unrealized Gains	$ 19	$ 21
No contractual maturity, Gross Unrealized Losses
No contractual maturity, Fair Value	$ 206	$ 221

INVESTMENT SECURITIES - Informa

INVESTMENT SECURITIES - Information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Less than 12 months - Fair Value	$ 2,297	$ 8,350
Less than 12 months - Unrealized Loss	(44)	(93)
12 Months or More - Fair Value	2,155	2,337
12 Months or More - Unrealized Loss	(396)	(368)
Fair value - Total	4,452	10,687
Unrealized Loss - Total	(440)	(461)
U.S. Government and agency obligations
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Less than 12 months - Fair Value	998	5,486
Less than 12 months - Unrealized Loss	(2)	(60)
12 Months or More - Fair Value	1,097	1,259
12 Months or More - Unrealized Loss	(3)	(40)
Fair value - Total	2,095	6,745
Unrealized Loss - Total	$ (5)	(100)
State agency, U.S. territories and municipal obligations
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Less than 12 months - Fair Value		126
Less than 12 months - Unrealized Loss		(1)
12 Months or More - Fair Value	$ 608	665
12 Months or More - Unrealized Loss	(388)	(322)
Fair value - Total	608	791
Unrealized Loss - Total	(388)	(323)
Corporate bonds
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Less than 12 months - Fair Value	960	1,970
Less than 12 months - Unrealized Loss	$ (40)	$ (28)
12 Months or More - Fair Value
12 Months or More - Unrealized Loss
Fair value - Total	$ 960	$ 1,970
Unrealized Loss - Total	(40)	(28)
Government-sponsored mortgage backed securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Less than 12 months - Fair Value	339	768
Less than 12 months - Unrealized Loss	(2)	(4)
12 Months or More - Fair Value	450	413
12 Months or More - Unrealized Loss	(5)	(6)
Fair value - Total	789	1,181
Unrealized Loss - Total	$ (7)	$ (10)

INVESTMENT SECURITIES (Detail T

INVESTMENT SECURITIES (Detail Textuals)	Mar. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)Security
Financial Instruments Owned and Pledged as Collateral [Line Items]
Number of investment securities in which the fair value of the security was less than the amortized cost | Security	15	29
Municipal bond investment rated two levels below investment grade cost	$ 995,000
Municipal bond investment rated two levels below investment grade cost market value	607,500
Public deposits
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged as collateral	$ 6,000,000	$ 5,900,000

LOANS RECEIVABLE AND ALLOWANC35

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of loan portfolio (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses	$ (14,810)	$ (14,169)
Loans receivable, net	1,177,905	1,129,748
Loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,196,477	1,147,513
Allowance for loan losses	(14,810)	(14,169)	$ (11,596)	$ (10,860)
Deferred loan origination fees, net	(3,771)	(3,605)
Unamortized loan premiums	9	9
Loans receivable, net	1,177,905	1,129,748
Loans receivable | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	184,134	177,184
Allowance for loan losses	(1,503)	(1,444)	(1,406)	(1,431)
Loans receivable | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	751,571	697,542
Allowance for loan losses	(8,447)	(7,705)	(6,067)	(5,480)
Loans receivable | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	82,528	82,273
Allowance for loan losses	(1,583)	(1,504)	(1,220)	(1,102)
Loans receivable | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,789	15,926
Allowance for loan losses	(178)	(174)	(203)	(205)
Loans receivable | Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,034,022	972,925
Loans receivable | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	160,903	172,853
Allowance for loan losses	(3,092)	(3,334)	(2,694)	(2,638)
Loans receivable | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,552	1,735
Allowance for loan losses	(7)	(8)	(6)	(4)
Loans receivable | Originated
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,110,659	1,058,819
Allowance for loan losses	(14,787)	(14,128)	(11,581)	(10,860)
Deferred loan origination fees, net	(3,771)	(3,605)
Unamortized loan premiums	9	9
Loans receivable, net	1,092,110	1,041,095
Loans receivable | Originated | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	181,345	174,311
Allowance for loan losses	(1,503)	(1,444)	(1,406)	(1,431)
Loans receivable | Originated | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	697,600	643,524
Allowance for loan losses	(8,434)	(7,693)	(6,067)	(5,480)
Loans receivable | Originated | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	82,435	81,242
Allowance for loan losses	(1,583)	(1,504)	(1,220)	(1,102)
Loans receivable | Originated | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	9,319	9,146
Allowance for loan losses	(178)	(174)	(203)	(205)
Loans receivable | Originated | Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	970,699	908,223
Loans receivable | Originated | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	139,897	150,479
Allowance for loan losses	(3,086)	(3,310)	(2,682)	(2,638)
Loans receivable | Originated | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	63	117
Allowance for loan losses	(3)	(3)	(3)	$ (4)
Loans receivable | Acquired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	85,818	88,694
Allowance for loan losses	$ (23)	$ (41)	$ (15)
Deferred loan origination fees, net
Unamortized loan premiums
Loans receivable, net	$ 85,795	$ 88,653
Loans receivable | Acquired | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 2,789	$ 2,873
Allowance for loan losses
Loans receivable | Acquired | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 53,971	$ 54,018
Allowance for loan losses	(13)	(12)
Loans receivable | Acquired | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 93	$ 1,031
Allowance for loan losses
Loans receivable | Acquired | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 6,470	$ 6,780
Allowance for loan losses
Loans receivable | Acquired | Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 63,323	$ 64,702
Loans receivable | Acquired | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	21,006	22,374
Allowance for loan losses	(6)	(24)	$ (12)
Loans receivable | Acquired | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,489	1,618
Allowance for loan losses	$ (4)	$ (5)	$ (3)

LOANS RECEIVABLE AND ALLOWANC36

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of activity in accretable yields for acquired loan portfolio (Details 1) - Loans receivable - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at beginning of period		$ 871	$ 1,382
Acquisition
Accretion		$ (49)	$ (94)
Other	[1]	(51)	(63)
Balance at end of period		$ 771	$ 1,225
[1]	Represents changes in cash flows expected to be collected due to loan sales or payoffs.

LOANS RECEIVABLE AND ALLOWANC37

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of allowance for loan losses by portfolio segment (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 14,169
Provisions	646	$ 733
Ending balance	14,810
Loans receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	14,169	$ 10,860
Charge-offs	(10)
Recoveries	5	$ 3
Provisions	646	733
Ending balance	14,810	11,596
Loans receivable | Residential Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,444	$ 1,431
Charge-offs
Recoveries
Provisions	$ 59	$ (25)
Ending balance	1,503	1,406
Loans receivable | Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 7,705	$ 5,480
Charge-offs
Recoveries
Provisions	$ 742	$ 587
Ending balance	8,447	6,067
Loans receivable | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,504	$ 1,102
Charge-offs	$ (7)
Recoveries
Provisions	$ 86	$ 118
Ending balance	1,583	1,220
Loans receivable | Home Equity
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 174	$ 205
Charge-offs
Recoveries
Provisions	$ 4	$ (2)
Ending balance	178	203
Loans receivable | Commercial Business
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 3,334	$ 2,638
Charge-offs
Recoveries
Provisions	$ (242)	$ 56
Ending balance	3,092	2,694
Loans receivable | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	8	$ 4
Charge-offs	(3)
Recoveries	5	$ 3
Provisions	(3)	(1)
Ending balance	7	6
Loans receivable | Originated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	14,128	$ 10,860
Charge-offs	(1)
Recoveries	5	$ 1
Provisions	655	720
Ending balance	14,787	11,581
Loans receivable | Originated | Residential Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,444	$ 1,431
Charge-offs
Recoveries
Provisions	$ 59	$ (25)
Ending balance	1,503	1,406
Loans receivable | Originated | Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 7,693	$ 5,480
Charge-offs
Recoveries
Provisions	$ 741	$ 587
Ending balance	8,434	6,067
Loans receivable | Originated | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,504	$ 1,102
Charge-offs
Recoveries
Provisions	$ 79	$ 118
Ending balance	1,583	1,220
Loans receivable | Originated | Home Equity
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 174	$ 205
Charge-offs
Recoveries
Provisions	$ 4	$ (2)
Ending balance	178	203
Loans receivable | Originated | Commercial Business
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 3,310	$ 2,638
Charge-offs
Recoveries
Provisions	$ (224)	$ 44
Ending balance	3,086	2,682
Loans receivable | Originated | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	3	$ 4
Charge-offs	(1)
Recoveries	5	$ 1
Provisions	(4)	(2)
Ending balance	3	$ 3
Loans receivable | Acquired
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	41
Charge-offs	$ (9)
Recoveries		$ 2
Provisions	$ (9)	13
Ending balance	$ 23	$ 15
Loans receivable | Acquired | Residential Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance
Charge-offs
Recoveries
Provisions
Ending balance
Loans receivable | Acquired | Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 12
Charge-offs
Recoveries
Provisions	$ 1
Ending balance	$ 13
Loans receivable | Acquired | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance
Charge-offs	$ (7)
Recoveries
Provisions	$ 7
Ending balance
Loans receivable | Acquired | Home Equity
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance
Charge-offs
Recoveries
Provisions
Ending balance
Loans receivable | Acquired | Commercial Business
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 24
Charge-offs
Recoveries
Provisions	$ (18)	$ 12
Ending balance	6	$ 12
Loans receivable | Acquired | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5
Charge-offs	$ (2)
Recoveries		$ 2
Provisions	$ 1	1
Ending balance	$ 4	$ 3

LOANS RECEIVABLE AND ALLOWANC38

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary, by portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio (Details 3) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans collectively evaluated for impairment:
Allowance, Total	$ 14,810	$ 14,169
Loans receivable
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	11,110	10,922
Loans individually evaluated for impairment, Allowance	75	111
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,185,367	1,136,591
Loans collectively evaluated for impairment, Allowance	14,735	14,058
Portfolio, Total	1,196,477	1,147,513
Allowance, Total	14,810	14,169	$ 11,596	$ 10,860
Loans receivable | Residential Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 1,833	1,833
Loans individually evaluated for impairment, Allowance		2
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 182,301	175,351
Loans collectively evaluated for impairment, Allowance	1,503	1,442
Portfolio, Total	184,134	177,184
Allowance, Total	1,503	1,444	1,406	1,431
Loans receivable | Commercial Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 6,408	5,053
Loans individually evaluated for impairment, Allowance		12
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 745,163	692,489
Loans collectively evaluated for impairment, Allowance	8,448	7,692
Portfolio, Total	751,571	697,542
Allowance, Total	8,447	7,705	6,067	5,480
Loans receivable | Construction
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	82,528	82,273
Loans collectively evaluated for impairment, Allowance	1,583	1,504
Portfolio, Total	82,528	82,273
Allowance, Total	1,583	1,504	1,220	1,102
Loans receivable | Home equity
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 610	$ 619
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 15,179	$ 15,307
Loans collectively evaluated for impairment, Allowance	178	174
Portfolio, Total	15,789	15,926
Allowance, Total	178	174	203	205
Loans receivable | Commercial business
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	2,255	3,410
Loans individually evaluated for impairment, Allowance	71	92
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	158,648	169,443
Loans collectively evaluated for impairment, Allowance	3,020	3,242
Portfolio, Total	160,903	172,853
Allowance, Total	3,092	3,334	2,694	2,638
Loans receivable | Consumer
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	4	7
Loans individually evaluated for impairment, Allowance	4	5
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,548	1,728
Loans collectively evaluated for impairment, Allowance	3	4
Portfolio, Total	1,552	1,735
Allowance, Total	7	8	6	4
Loans receivable | Originated Loans
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	8,919	8,523
Loans individually evaluated for impairment, Allowance	70	73
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,101,740	1,050,296
Loans collectively evaluated for impairment, Allowance	14,717	14,055
Portfolio, Total	1,110,659	1,058,819
Allowance, Total	14,787	14,128	11,581	10,860
Loans receivable | Originated Loans | Residential Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 1,833	1,833
Loans individually evaluated for impairment, Allowance		2
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 179,512	172,478
Loans collectively evaluated for impairment, Allowance	1,503	1,442
Portfolio, Total	181,345	174,311
Allowance, Total	1,503	1,444	1,406	1,431
Loans receivable | Originated Loans | Commercial Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 5,813	$ 4,291
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 691,787	$ 639,233
Loans collectively evaluated for impairment, Allowance	8,435	7,692
Portfolio, Total	697,600	643,524
Allowance, Total	8,434	7,693	6,067	5,480
Loans receivable | Originated Loans | Construction
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	82,435	81,242
Loans collectively evaluated for impairment, Allowance	1,583	1,504
Portfolio, Total	82,435	81,242
Allowance, Total	1,583	1,504	1,220	1,102
Loans receivable | Originated Loans | Home equity
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 414	$ 422
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 8,905	$ 8,724
Loans collectively evaluated for impairment, Allowance	178	174
Portfolio, Total	9,319	9,146
Allowance, Total	178	174	203	205
Loans receivable | Originated Loans | Commercial business
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	859	1,977
Loans individually evaluated for impairment, Allowance	70	71
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	139,038	148,502
Loans collectively evaluated for impairment, Allowance	3,015	3,239
Portfolio, Total	139,897	150,479
Allowance, Total	$ 3,086	$ 3,310	2,682	2,638
Loans receivable | Originated Loans | Consumer
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 63	$ 117
Loans collectively evaluated for impairment, Allowance	3	4
Portfolio, Total	63	117
Allowance, Total	3	3	3	$ 4
Loans receivable | Acquired Loans
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	2,191	2,399
Loans individually evaluated for impairment, Allowance	5	38
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	83,627	86,295
Loans collectively evaluated for impairment, Allowance	18	3
Portfolio, Total	85,818	88,694
Allowance, Total	$ 23	$ 41	$ 15
Loans receivable | Acquired Loans | Residential Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 2,789	$ 2,873
Loans collectively evaluated for impairment, Allowance
Portfolio, Total	$ 2,789	$ 2,873
Allowance, Total
Loans receivable | Acquired Loans | Commercial Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 595	$ 762
Loans individually evaluated for impairment, Allowance		12
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 53,376	$ 53,256
Loans collectively evaluated for impairment, Allowance	13
Portfolio, Total	53,971	$ 54,018
Allowance, Total	13	12
Loans receivable | Acquired Loans | Construction
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 93	$ 1,031
Loans collectively evaluated for impairment, Allowance
Portfolio, Total	$ 93	$ 1,031
Allowance, Total
Loans receivable | Acquired Loans | Home equity
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 196	$ 197
Loans individually evaluated for impairment, Allowance
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 6,274	$ 6,583
Loans collectively evaluated for impairment, Allowance
Portfolio, Total	$ 6,470	$ 6,780
Allowance, Total
Loans receivable | Acquired Loans | Commercial business
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 1,396	$ 1,433
Loans individually evaluated for impairment, Allowance	1	21
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	19,610	20,941
Loans collectively evaluated for impairment, Allowance	5	3
Portfolio, Total	21,006	22,374
Allowance, Total	6	24	$ 12
Loans receivable | Acquired Loans | Consumer
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	4	7
Loans individually evaluated for impairment, Allowance	4	5
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	$ 1,485	$ 1,611
Loans collectively evaluated for impairment, Allowance
Portfolio, Total	$ 1,489	$ 1,618
Allowance, Total	$ 4	$ 5	$ 3

LOANS RECEIVABLE AND ALLOWANC39

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of the loan portfolio quality indicators by portfolio segment (Details 4) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,196,477	$ 1,147,513
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	751,571	697,542
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	82,528	82,273
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	160,903	172,853
Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	184,134	177,184
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,789	15,926
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,552	1,735
Originated Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,110,659	1,058,819
Originated Loans | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	697,600	643,524
Originated Loans | Commercial Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	691,787	638,709
Originated Loans | Commercial Real Estate | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,593	1,595
Originated Loans | Commercial Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 3,220	$ 3,220
Originated Loans | Commercial Real Estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Commercial Real Estate | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 82,435	$ 81,242
Originated Loans | Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 82,435	$ 81,242
Originated Loans | Construction | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Construction | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Construction | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Construction | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 139,897	$ 150,479
Originated Loans | Commercial business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	137,764	148,748
Originated Loans | Commercial business | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,547	1,118
Originated Loans | Commercial business | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 522	$ 549
Originated Loans | Commercial business | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Commercial business | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 64	$ 64
Originated Loans | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	181,345	174,311
Originated Loans | Residential Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	179,512	172,478
Originated Loans | Residential Real Estate | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	864	864
Originated Loans | Residential Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 969	$ 969
Originated Loans | Residential Real Estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Residential Real Estate | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 9,319	$ 9,146
Originated Loans | Home equity | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,904	8,725
Originated Loans | Home equity | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	78	80
Originated Loans | Home equity | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 337	$ 341
Originated Loans | Home equity | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Home equity | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 63	$ 117
Originated Loans | Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 63	$ 117
Originated Loans | Consumer | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Consumer | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Consumer | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Originated Loans | Consumer | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 85,818	$ 88,694
Acquired Loans | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	53,971	54,018
Acquired Loans | Commercial Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	51,453	$ 52,427
Acquired Loans | Commercial Real Estate | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,307
Acquired Loans | Commercial Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,211	$ 1,591
Acquired Loans | Commercial Real Estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Commercial Real Estate | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 93	$ 1,031
Acquired Loans | Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 93	$ 230
Acquired Loans | Construction | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Construction | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		$ 801
Acquired Loans | Construction | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Construction | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 21,006	$ 22,374
Acquired Loans | Commercial business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	19,441	20,794
Acquired Loans | Commercial business | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	635	598
Acquired Loans | Commercial business | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 930	$ 982
Acquired Loans | Commercial business | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Commercial business | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 2,789	$ 2,873
Acquired Loans | Residential Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 2,789	$ 2,873
Acquired Loans | Residential Real Estate | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Residential Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Residential Real Estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Residential Real Estate | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 6,470	$ 6,780
Acquired Loans | Home equity | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 6,230	$ 6,545
Acquired Loans | Home equity | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Home equity | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 240	$ 235
Acquired Loans | Home equity | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Home equity | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,489	$ 1,618
Acquired Loans | Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,419	$ 1,539
Acquired Loans | Consumer | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Consumer | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 70	$ 79
Acquired Loans | Consumer | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans
Acquired Loans | Consumer | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans

LOANS RECEIVABLE AND ALLOWANC40

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of loan portfolio delinquencies by portfolio segment and amount (Details 5) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 4,470	$ 5,799
Current	1,192,007	1,141,714
Carrying Amount > 90 Days and Accruing	89	1,105
31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	2,312	1,988
61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	162	644
Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,996	3,167
Originated Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	2,300	2,999
Current	$ 1,108,359	$ 1,055,820
Carrying Amount > 90 Days and Accruing
Originated Loans | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 1,263	$ 1,276
Originated Loans | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		411
Originated Loans | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 1,037	1,312
Originated Loans | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	969	969
Current	$ 180,376	$ 173,342
Carrying Amount > 90 Days and Accruing
Originated Loans | Residential Real Estate | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Residential Real Estate | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Residential Real Estate | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 969	$ 969
Originated Loans | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		311
Current	$ 697,600	$ 643,213
Carrying Amount > 90 Days and Accruing
Originated Loans | Commercial Real Estate | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Commercial Real Estate | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		$ 311
Originated Loans | Commercial Real Estate | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 1,068
Current	$ 81,367	$ 81,242
Carrying Amount > 90 Days and Accruing
Originated Loans | Construction | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 1,068
Originated Loans | Construction | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Construction | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 195	$ 198
Current	$ 9,124	$ 8,948
Carrying Amount > 90 Days and Accruing
Originated Loans | Home equity | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 195	$ 198
Originated Loans | Home equity | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Home equity | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 64	$ 1,521
Current	$ 139,833	$ 148,958
Carrying Amount > 90 Days and Accruing
Originated Loans | Commercial business | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		$ 1,078
Originated Loans | Commercial business | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		100
Originated Loans | Commercial business | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 64	$ 343
Originated Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	4
Current	$ 59	$ 117
Carrying Amount > 90 Days and Accruing
Originated Loans | Consumer | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Consumer | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Originated Loans | Consumer | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 4
Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	2,170	$ 2,800
Current	83,648	85,894
Carrying Amount > 90 Days and Accruing	89	1,105
Acquired Loans | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,049	712
Acquired Loans | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	162	233
Acquired Loans | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 959	$ 1,855
Acquired Loans | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Current	$ 2,789	$ 2,873
Carrying Amount > 90 Days and Accruing
Acquired Loans | Residential Real Estate | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Residential Real Estate | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Residential Real Estate | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 1,250	$ 1,095
Current	52,721	52,923
Carrying Amount > 90 Days and Accruing	89	218
Acquired Loans | Commercial Real Estate | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 655	$ 333
Acquired Loans | Commercial Real Estate | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Commercial Real Estate | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 595	$ 762
Acquired Loans | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		801
Current	$ 93	230
Carrying Amount > 90 Days and Accruing		$ 801
Acquired Loans | Construction | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Construction | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Construction | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		$ 801
Acquired Loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 452	453
Current	$ 6,018	$ 6,327
Carrying Amount > 90 Days and Accruing
Acquired Loans | Home equity | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 100	$ 100
Acquired Loans | Home equity | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	162	162
Acquired Loans | Home equity | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	190	191
Acquired Loans | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	452	434
Current	$ 20,554	21,940
Carrying Amount > 90 Days and Accruing		86
Acquired Loans | Commercial business | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 278	262
Acquired Loans | Commercial business | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		71
Acquired Loans | Commercial business | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 174	101
Acquired Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	16	17
Current	$ 1,473	$ 1,601
Carrying Amount > 90 Days and Accruing
Acquired Loans | Consumer | 31-60 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 16	$ 17
Acquired Loans | Consumer | 61-90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due
Acquired Loans | Consumer | Greater Than 90 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due

LOANS RECEIVABLE AND ALLOWANC41

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of nonaccrual loans by portfolio segment (Details 6) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	$ 3,398	$ 3,791
Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	969	970
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	1,113	1,264
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	392	395
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	918	1,160
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total nonaccrual loans	$ 6	$ 2

LOANS RECEIVABLE AND ALLOWANC42

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of impaired loans (Details 7) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Originated
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	$ 8,413	$ 7,033
Impaired loans without a valuation allowance, Unpaid Principal Balance	8,443	7,056
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount	506	1,490
Impaired loans with a valuation allowance, Unpaid Principal Balance	506	1,554
Impaired loans with a valuation allowance, Associated Allowance	70	73
Total impaired loans
Total impaired loans, Carrying Amount	8,919	8,523
Total impaired loans, Unpaid Principal Balance	8,949	8,610
Total impaired loans, Associated Allowance	70	73
Originated | Residential Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	1,833	969
Impaired loans without a valuation allowance, Unpaid Principal Balance	$ 1,833	969
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount		864
Impaired loans with a valuation allowance, Unpaid Principal Balance		864
Impaired loans with a valuation allowance, Associated Allowance		2
Originated | Commercial Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	$ 5,813	4,291
Impaired loans without a valuation allowance, Unpaid Principal Balance	5,813	4,291
Originated | Home equity
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	414	422
Impaired loans without a valuation allowance, Unpaid Principal Balance	419	424
Originated | Commercial business
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	353	1,351
Impaired loans without a valuation allowance, Unpaid Principal Balance	378	1,372
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount	506	626
Impaired loans with a valuation allowance, Unpaid Principal Balance	506	690
Impaired loans with a valuation allowance, Associated Allowance	70	71
Acquired
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	2,068	1,771
Impaired loans without a valuation allowance, Unpaid Principal Balance	2,159	1,841
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount	123	628
Impaired loans with a valuation allowance, Unpaid Principal Balance	135	638
Impaired loans with a valuation allowance, Associated Allowance	5	38
Total impaired loans
Total impaired loans, Carrying Amount	2,191	2,399
Total impaired loans, Unpaid Principal Balance	2,294	2,479
Total impaired loans, Associated Allowance	5	38
Acquired | Commercial Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	595	611
Impaired loans without a valuation allowance, Unpaid Principal Balance	$ 678	678
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount		151
Impaired loans with a valuation allowance, Unpaid Principal Balance		151
Impaired loans with a valuation allowance, Associated Allowance		12
Acquired | Home equity
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	$ 196	197
Impaired loans without a valuation allowance, Unpaid Principal Balance	200	200
Acquired | Commercial business
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Carrying Amount	1,277	963
Impaired loans without a valuation allowance, Unpaid Principal Balance	1,281	963
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount	119	470
Impaired loans with a valuation allowance, Unpaid Principal Balance	131	480
Impaired loans with a valuation allowance, Associated Allowance	1	21
Acquired | Consumer
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Carrying Amount	4	7
Impaired loans with a valuation allowance, Unpaid Principal Balance	4	7
Impaired loans with a valuation allowance, Associated Allowance	$ 4	$ 5

LOANS RECEIVABLE AND ALLOWANC43

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of average recorded investment balance of impaired loans and interest income recognized on impaired loans by portfolio segment (Details 8) - Loans receivable - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Originated
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	$ 8,429	$ 7,084
Impaired loans without a valuation allowance, Interest Income Recognized	71	210
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment	518	1,537
Impaired loans with a valuation allowance, Interest Income Recognized	6	62
Total impaired loans
Total impaired loans, Average Recorded Investment	8,947	8,621
Total impaired loans, Interest Income Recognized	77	272
Originated | Residential Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	1,833	973
Impaired loans without a valuation allowance, Interest Income Recognized	$ 7	27
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment		864
Impaired loans with a valuation allowance, Interest Income Recognized		28
Originated | Commercial Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	$ 5,821	4,308
Impaired loans without a valuation allowance, Interest Income Recognized	60	124
Originated | Home equity
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	418	429
Impaired loans without a valuation allowance, Interest Income Recognized	2	10
Originated | Commercial business
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	357	1,374
Impaired loans without a valuation allowance, Interest Income Recognized	2	49
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment	518	673
Impaired loans with a valuation allowance, Interest Income Recognized	6	34
Acquired
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	2,087	1,799
Impaired loans without a valuation allowance, Interest Income Recognized	14	62
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment	127	664
Impaired loans with a valuation allowance, Interest Income Recognized	1	18
Total impaired loans
Total impaired loans, Average Recorded Investment	2,214	2,463
Total impaired loans, Interest Income Recognized	15	80
Acquired | Commercial Real Estate
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	$ 602	602
Impaired loans without a valuation allowance, Interest Income Recognized		6
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment		151
Impaired loans with a valuation allowance, Interest Income Recognized		3
Acquired | Home equity
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	$ 197	198
Impaired loans without a valuation allowance, Interest Income Recognized		2
Acquired | Commercial business
Impaired loans without a valuation allowance:
Impaired loans without a valuation allowance, Average Recorded Investment	$ 1,288	999
Impaired loans without a valuation allowance, Interest Income Recognized	14	54
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment	$ 123	506
Impaired loans with a valuation allowance, Interest Income Recognized		14
Acquired | Consumer
Impaired loans with a valuation allowance:
Impaired loans with a valuation allowance, Average Recorded Investment	$ 4	7
Impaired loans with a valuation allowance, Interest Income Recognized	$ 1	$ 1

LOANS RECEIVABLE AND ALLOWANC44

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of loans whose terms were modified as TDRs (Details 9) - Loans receivable $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Loan	Mar. 31, 2015USD ($)Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Loans | Loan		3
Outstanding Recorded Investment Pre-Modification		$ 3,274
Outstanding Recorded Investment Post-Modification		$ 3,274
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Loans | Loan		2
Outstanding Recorded Investment Pre-Modification		$ 3,220
Outstanding Recorded Investment Post-Modification		$ 3,220
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Loans | Loan		1
Outstanding Recorded Investment Pre-Modification		$ 54
Outstanding Recorded Investment Post-Modification		$ 54

LOANS RECEIVABLE AND ALLOWANC45

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Summary of loans were modified as TDR (Details 10) - Loans receivable - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity/amortization concession		$ 54
Maturity and payment concession		3,220
Total		$ 3,274

LOANS RECEIVABLE AND ALLOWANC46

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Detail Textuals) - Loans receivable - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of market value of the collateral	80.00%
Maximum percent of the loan in comparison with original appraised value of the property	80.00%
Private mortgage percentage of appraised value property	80.00%
Possible loss amount determined as a result of an impairment analysis	$ 0
Income contractually due but not recognized on originated nonaccrual loans	13	$ 25
Actual interest income recognized		$ 1
Commitment to lend additional funds to any borrower on nonaccrual status	169		$ 169
Purchased credit impaired loans	100		1,100
Recorded investment in TDR	6,400		7,300
TDR on non accrual status	$ 1,100		$ 1,100
Residential loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private mortgage percentage of appraised value property	80.00%
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private mortgage percentage of appraised value property	80.00%
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private mortgage percentage of appraised value property	90.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private mortgage percentage of appraised value property	95.00%

SHAREHOLDERS' EQUITY (Detail Te

SHAREHOLDERS' EQUITY (Detail Textuals) - USD ($)	May. 15, 2014	Nov. 20, 2015	Mar. 31, 2016	Dec. 31, 2011
Stockholders Equity Note [Line Items]
Net proceeds from the IPO				$ 5,900,000
Percentage of proceeds invested as Tier 1 Capital				90.00%
Initial Public Offering ("IPO")
Stockholders Equity Note [Line Items]
Number of common shares authorized to issue in initial public offering	2,702,703
Price per share of shares issued (in dollars per share)	$ 18
Issuance of shares	2,702,703
Net proceeds from the IPO	$ 44,700,000
Underwriting discount	2,500,000
Amount of expenses incurred in public offering	$ 1,300,000
Senior Non Cumulative Perpetual Preferred Stock Series C
Stockholders Equity Note [Line Items]
Preferred stock dividend rate percentage			1.00%
Number of preferred stock issued and sold				10,980
Preferred stock liquidation value		$ 1,000		$ 1,000
Number of shares redeemed (in shares)		10,980
Value for redemption of preferred stock		$ 10,980,000

SHAREHOLDERS' EQUITY (Detail 48

SHAREHOLDERS' EQUITY (Detail textuals 1) - USD ($)	Oct. 01, 2014	Jan. 27, 2016	Mar. 31, 2016	Mar. 31, 2015
Stockholders Equity Note [Line Items]
Cash dividend declared amount per share		$ 0.05
Dividends payable date declared		Jan. 27, 2016
Dividends payable date to be paid		Feb. 22, 2016
Dividends payable date of record		Feb. 12, 2016
Number of non-transferable warrant included in each unit issued			1
Number of common stock shares purchased under each warrant			0.3221
Exercise price of warrant			$ 14
Amount received for issuance of common stock for warrants exercised			$ 4,264,946
Number of common stock shares issued on exercise of warrants			304,639
Declared and paid cash dividends on preferred stock				$ 27,000
Number of common stock share included in each unit issued			1
Number of warrants available to purchase shares			945,789
Number of warrants exercised			838,369
Number of common stock for warrants exercised			269,992
Total gross proceeds from warrant exercised			$ 3,779,888
Quinnipiac Bank And Trust Company
Stockholders Equity Note [Line Items]
Number of common stock shares purchased under each warrant	0.56
Exercise price of warrant	$ 17.86
Number of warrants issued	68,600

COMPREHENSIVE INCOME - Summary

COMPREHENSIVE INCOME - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance	$ 227	$ 531
Other comprehensive income (loss) before reclassifications	$ (249)	$ (148)
Amounts reclassified from accumulated other comprehensive income
Net other comprehensive income (loss)	$ (249)	$ (148)
Balance	(22)	383
Net Unrealized Gain (Loss) on Available for Sale Securities
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance	405	644
Other comprehensive income (loss) before reclassifications	$ 666	$ 199
Amounts reclassified from accumulated other comprehensive income
Net other comprehensive income (loss)	$ 666	$ 199
Balance	1,071	843
Net Unrealized Gain (Loss) on Interest Rate Swap
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance	(178)	(113)
Other comprehensive income (loss) before reclassifications	$ (915)	$ (347)
Amounts reclassified from accumulated other comprehensive income
Net other comprehensive income (loss)	$ (915)	$ (347)
Balance	$ (1,093)	$ (460)

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 2,991	$ 1,873
Preferred stock dividends		(27)
Dividends To Participating Securities	$ (6)
Dividends and undistributed earnings allocated to participating securities	(49)	(46)
Net income for earnings per share calculation	$ 2,936	$ 1,800
Weighted average shares outstanding, basic	7,380,217	7,028,499
Effect of dilutive equity-based awards	52,000	28,000
Weighted average shares outstanding, diluted	7,431,747	7,056,141
Net earnings per common share:
Basic earnings per common share (in dollars per share)	$ 0.40	$ 0.26
Diluted earnings per common share (in dollars per share)	$ 0.40	$ 0.26

REGULATORY MATTERS - Capital am

REGULATORY MATTERS - Capital amounts and ratios for Bank (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Bankwell Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 146,362	$ 142,651
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	12.24%	12.18%
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 53,797	$ 52,709
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 77,707	$ 76,135
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 161,172	$ 156,820
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	13.48%	13.39%
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 95,640	$ 93,705
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 119,550	$ 117,131
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%	10.00%
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 146,362	$ 142,651
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	12.24%	12.18%
Tier I Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 71,730	$ 70,279
Tier I Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	6.00%	6.00%
Tier I Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 95,640	$ 93,705
Tier I Capital to Risk-Weighted AssetsTo be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%	8.00%
Tier I Capital to Average Assets, Actual Capital, Amount	$ 146,362	$ 142,651
Tier I Capital to Average Assets, Actual Capital, Ratio	10.85%	10.84%
Tier I Capital to Average Assets, For Capital Adequacy Purposes, Amount	$ 53,963	$ 52,620
Tier I Capital to Average Assets, For Capital Adequacy Purposes, Ratio	4.00%	4.00%
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 67,454	$ 65,775
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%	5.00%
Bankwell Financial Group Inc.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 131,673	$ 128,692
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	10.98%	10.92%
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 53,962	$ 53,052
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 171,495	$ 167,867
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	14.30%	14.24%
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 95,933	$ 94,315
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 131,673	$ 128,692
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	10.98%	10.92%
Tier I Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 71,950	$ 70,736
Tier I Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio	6.00%	6.00%
Tier I Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Tier I Capital to Risk-Weighted AssetsTo be Well Capitalized Under Prompt Corrective Action Provisions, Ratio
Tier I Capital to Average Assets, Actual Capital, Amount	$ 131,673	$ 128,692
Tier I Capital to Average Assets, Actual Capital, Ratio	9.59%	9.75%
Tier I Capital to Average Assets, For Capital Adequacy Purposes, Amount	$ 54,923	$ 52,819
Tier I Capital to Average Assets, For Capital Adequacy Purposes, Ratio	4.00%	4.00%
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio

REGULATORY MATTERS (Detail Text

REGULATORY MATTERS (Detail Textuals)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Percentage of higher risk weight	150.00%
Risk weight of marketable equity securities	300.00%
Minimum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier I capital to Risk-weighted Assets	4.50%
Leverage ratio	4.00%
Tier 1 capital to risk-weighted assets requirement	6.00%	4.00%
Total capital to risk-weighted assets requirement	8.00%
Common Equity Tier I capital conservation buffer	2.50%

STOCK-BASED COMPENSATION - Outs

STOCK-BASED COMPENSATION - Outstanding share options (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Shares
Options outstanding at beginning of period | shares	158,408
Exercised | shares	(14,500)
Forfeited | shares
Expired | shares	(900)
Options outstanding at end of period | shares	143,008
Options exercisable at end of period | shares	141,558
Weighted Average Exercise Price
Options outstanding at beginning of period | $ / shares	$ 18.12
Exercised | $ / shares	$ 15.48
Forfeited | $ / shares
Expired | $ / shares	$ 16
Options outstanding at end of period | $ / shares	18.40
Options exercisable at end of period | $ / shares	$ 18.43

STOCK-BASED COMPENSATION - Acti

STOCK-BASED COMPENSATION - Activity for restricted stock (Details 1)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Shares
Unvested at beginning of period | shares	143,323
Granted | shares
Vested | shares	(4,900)
Forfeited | shares
Unvested at end of period | shares	138,423
Weighted Average Grant Date Fair Value
Unvested at beginning of period | $ / shares	$ 15.92
Granted | $ / shares
Vested | $ / shares	$ 14.80
Forfeited | $ / shares
Unvested at end of period | $ / shares	$ 17.69

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	Dec. 09, 2014	Jan. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested			4,900
Share based compensation plan modification description and terms		The total shares originally granted for the $29.00 price target have been modified to a time based restricted stock grant. The shares will vest over a four year period with the first installment to vest on December 1, 2016 and the remaining shares to vest on each annual anniversary thereafter. In addition, the shares originally granted for the $25.00 and $27.00 price targets have been modified. These shares may vest over a period from the date of the modification to December 1, 2019 based on meeting the price targets.
Maximum time for price target		30 days
Method used to measure share awards		Monte Carlo simulation model
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses			$ 2	$ 4
Total intrinsic value of share options exercised			60
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses			$ 247	238
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			5 years
BNC Financial Group Inc Stock Option Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock reserved for issuance			537,024
BNC Financial Group Inc Stock Option Plan 2012 | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			5 years
Compensation expense under shares modification			$ 49	$ 43
Incremental cost		$ 13.66
BNC Financial Group Inc Stock Option Plan 2012 | Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	49,400
BNC Financial Group Inc Stock Option Plan 2012 | Restricted Stock | Stock price $25.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price	$ 25
Grant date fair value for shares granted	11.63
Incremental cost		2.19
BNC Financial Group Inc Stock Option Plan 2012 | Restricted Stock | Stock price $27.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price	27
Grant date fair value for shares granted	10.30
Incremental cost		$ 2.03
BNC Financial Group Inc Stock Option Plan 2012 | Restricted Stock | Stock price $29.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price	29
Grant date fair value for shares granted	$ 9.10

DERIVATIVE INSTRUMENTS - Inform

DERIVATIVE INSTRUMENTS - Information about derivative instruments (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Fair Value Asset (Liability)	$ (1,682)	$ (276)
Interest rate swap on FHLB advance
Derivative [Line Items]
Notional Amount	$ 25,000	$ 25,000
Original Maturity	4 years 8 months 12 days	4 years 8 months 12 days
Received	0.63%	0.61%
Paid	1.62%	1.62%
Fair Value Asset (Liability)	$ (490)	$ (181)
Interest rate swap on FHLB advance
Derivative [Line Items]
Notional Amount	$ 25,000	$ 25,000
Original Maturity	5 years	5 years
Received	0.63%	0.61%
Paid	1.83%	1.83%
Fair Value Asset (Liability)	$ (759)	$ (276)
Interest rate swap on FHLB advance
Derivative [Line Items]
Notional Amount	$ 25,000	$ 25,000
Original Maturity	5 years	5 years
Received	0.63%	0.61%
Paid	1.48%	1.48%
Fair Value Asset (Liability)	$ (422)	$ 181
Interest rate swap on forward-starting FHLB advance
Derivative [Line Items]
Notional Amount	$ 25,000
Original Maturity	5 years
Received	0.63%
Paid	1.22%
Fair Value Asset (Liability)	$ (11)

DERIVATIVE INSTRUMENTS - Forwar

DERIVATIVE INSTRUMENTS - Forward starting interest rate swap transactions (Details 1) - Interest rate swap - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount	$ 25,000	$ 25,000
Duration of Borrowing	4 years 8 months 12 days	4 years 8 months 12 days
FHLB 90-day advance | April 1, 2014
Derivative [Line Items]
Notional Amount	$ 25,000
Effective Date of Hedged Borrowing	Apr. 1, 2014
Duration of Borrowing	4 years 8 months 12 days
Counterparty	Bank of Montreal
FHLB 90-day advance | January 2, 2015
Derivative [Line Items]
Notional Amount	$ 25,000
Effective Date of Hedged Borrowing	Jan. 2, 2015
Duration of Borrowing	5 years
Counterparty	Bank of Montreal
FHLB 90-day advance | August 26, 2015
Derivative [Line Items]
Notional Amount	$ 25,000
Effective Date of Hedged Borrowing	Aug. 26, 2015
Duration of Borrowing	5 years
Counterparty	Bank of Montreal
FHLB 90-day advance | July 1, 2016
Derivative [Line Items]
Notional Amount	$ 25,000
Effective Date of Hedged Borrowing	Jul. 1, 2016
Duration of Borrowing	5 years
Counterparty	Bank of Montreal

DERIVATIVE INSTRUMENTS - Change

DERIVATIVE INSTRUMENTS - Changes in consolidated statements of comprehensive income related to interest rate derivatives (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest rate swap on FHLB advance:
Unrealized gain (loss) recognized in accumulated other comprehensive income	$ (1,408)	$ (568)
Income tax (expense) benefit on items recognized in accumulated other comprehensive income	493	221
Other comprehensive (loss) income	(915)	(347)
Interest expense recognized on hedged FHLB advance	$ 204	$ 182

FAIR VALUE OF FINANCIAL INSTR59

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying values and fair values of financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial Assets:
Federal funds sold	$ 3,194	$ 39,035
Available for sale securities	91,528	40,581
Held to maturity securities	16,989	10,228
Carrying Value
Financial Assets:
Cash and due from banks	69,512	49,562
Federal funds sold	3,194	39,035
Available for sale securities	91,528	40,581
Held to maturity securities	$ 17,010	$ 10,226
Loans held for sale
Loans receivable, net	$ 1,177,905	$ 1,129,748
Accrued interest receivable	4,370	4,071
FHLB stock	7,158	6,554
Financial Liabilities:
Demand deposits	165,968	164,553
NOW and money market	379,079	347,846
Savings	73,987	97,846
Time deposits	474,700	436,697
Advances from the FHLB	160,000	120,000
Subordinated debentures	25,012	25,000
Derivative liability	1,682	276
Fair Value
Financial Assets:
Cash and due from banks	69,512	49,562
Federal funds sold	3,194	39,035
Available for sale securities	91,528	40,581
Held to maturity securities	$ 16,989	$ 10,228
Loans held for sale
Loans receivable, net	$ 1,191,660	$ 1,135,227
Accrued interest receivable	4,370	4,071
FHLB stock	7,158	6,554
Financial Liabilities:
Demand deposits	165,968	164,553
NOW and money market	379,079	347,846
Savings	73,987	97,846
Time deposits	476,993	438,214
Advances from the FHLB	160,556	120,025
Subordinated debentures	25,099	24,505
Derivative liability	1,682	276
Level 1
Financial Assets:
Cash and due from banks	69,512	49,562
Federal funds sold	$ 3,194	$ 39,035
Available for sale securities
Held to maturity securities
Loans held for sale
Loans receivable, net
Accrued interest receivable
FHLB stock
Financial Liabilities:
Demand deposits
NOW and money market
Savings
Time deposits
Advances from the FHLB
Subordinated debentures
Derivative liability
Level 2
Financial Assets:
Cash and due from banks
Federal funds sold
Available for sale securities	$ 91,528	$ 40,581
Held to maturity securities	$ 16,989	$ 10,228
Loans held for sale
Loans receivable, net
Accrued interest receivable
FHLB stock
Financial Liabilities:
Demand deposits
NOW and money market
Savings
Time deposits
Advances from the FHLB
Subordinated debentures
Derivative liability	$ 1,682	$ 276
Level 3
Financial Assets:
Cash and due from banks
Federal funds sold
Available for sale securities
Held to maturity securities
Loans held for sale
Loans receivable, net	$ 1,191,660	$ 1,135,227
Accrued interest receivable	4,370	4,071
FHLB stock	7,158	6,554
Financial Liabilities:
Demand deposits	165,968	164,553
NOW and money market	379,079	347,846
Savings	73,987	97,846
Time deposits	476,993	438,214
Advances from the FHLB	160,556	120,025
Subordinated debentures	$ 25,099	$ 24,505
Derivative liability

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial instruments carried at fair value on recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale investment securities:
Available for sale securities	$ 91,528	$ 40,581
Fair Value Measurements Recurring | Level 1
Available-for-sale investment securities:
Derivative liability
Fair Value Measurements Recurring | Level 1 | U.S. Government and agency obligations
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 1 | State agency, U.S. territories and municipal obligations
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 1 | Corporate bonds
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 1 | Mortgage backed securities
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 2
Available-for-sale investment securities:
Derivative liability	$ (1,682)	$ (276)
Fair Value Measurements Recurring | Level 2 | U.S. Government and agency obligations
Available-for-sale investment securities:
Available for sale securities	58,696	7,143
Fair Value Measurements Recurring | Level 2 | State agency, U.S. territories and municipal obligations
Available-for-sale investment securities:
Available for sale securities	17,034	17,504
Fair Value Measurements Recurring | Level 2 | Corporate bonds
Available-for-sale investment securities:
Available for sale securities	11,571	11,437
Fair Value Measurements Recurring | Level 2 | Mortgage backed securities
Available-for-sale investment securities:
Available for sale securities	$ 4,227	$ 4,497
Fair Value Measurements Recurring | Level 3
Available-for-sale investment securities:
Derivative liability
Fair Value Measurements Recurring | Level 3 | U.S. Government and agency obligations
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 3 | State agency, U.S. territories and municipal obligations
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 3 | Corporate bonds
Available-for-sale investment securities:
Available for sale securities
Fair Value Measurements Recurring | Level 3 | Mortgage backed securities
Available-for-sale investment securities:
Available for sale securities

FAIR VALUE MEASUREMENTS - Fin61

FAIR VALUE MEASUREMENTS - Financial instruments carried at fair value on nonrecurring basis (Details 1) - Fair Value Measurements Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Foreclosed real estate
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Foreclosed real estate
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 11,110	$ 10,922
Foreclosed real estate	$ 878	$ 1,248

FAIR VALUE MEASUREMENTS - Quant

FAIR VALUE MEASUREMENTS - Quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on nonrecurring basis (Details 2) - Level 3 - Fair Value Measurements Nonrecurring - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 11,110	$ 10,922
Foreclosed real estate	878	1,248
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 11,110	$ 10,922
Valuation Methodology, Appraisals	Appraisals	Appraisals
Valuation Methodology, Discounted cash flows	Discounted cash flows	Discounted cash flows
Impaired loans | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input, Discount for dated appraisals	8.00%	8.00%
Unobservable Input, Discount rate	3.25%	3.25%
Impaired loans | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input, Discount for dated appraisals	10.00%	10.00%
Unobservable Input, Discount rate	6.25%	7.00%
Foreclosed Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 878	$ 1,248
Valuation Methodology, Appraisals	Appraisals	Appraisals
Foreclosed Real Estate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input, Discount for dated appraisals	10.00%	10.00%
Foreclosed Real Estate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input, Discount for dated appraisals	20.00%	25.00%

SUBORDINATED DEBENTURES (Detail

SUBORDINATED DEBENTURES (Detail Textuals) - Fixed rated subordinated notes $ in Millions	1 Months Ended
	Aug. 19, 2015USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 25.5
Notes non-callable term (in years)	5 years
Stated maturity date of notes	Aug. 15, 2025
Quarterly pay fixed interest rate of notes	5.75%