BANKWELL FINANCIAL GROUP, INC. TO ADJOURN ANNUAL MEETING DUE TO COVID-19 CONERNS AND RESTRICTIONS

New Canaan, CT – May 19, 2020 – Bankwell Financial Group, Inc. (NASDAQ: BWFG) (the "Company") today announced that it intends to convene and then immediately adjourn its Annual Meeting of Shareholders (the "Annual Meeting") due to public health concerns and governmental restrictions relating to the COVID-19 pandemic. The Annual Meeting is scheduled to occur at 8:00 a.m. Eastern time on May 27, 2020. The Annual Meeting will be convened and then immediately adjourned to Wednesday, August 12, 2020 at 8:00 a.m. Eastern time at Woodway Country Club, 540 Hoyt Street, Darien, Connecticut 06820. The record date will remain March 27, 2020. Shareholders of record on March 27, 2020 may continue to vote in person or by proxy until August 12, 2020. Consistent with guidance issued by the U.S. Securities and Exchange Commission (the “SEC”), the Company will not be mailing additional proxy materials with respect to the new Annual Meeting date. Shareholders should comply with applicable restrictions and not attend the Annual Meeting on May 27, 2020.

Additional information regarding the Annual Meeting, including the proposals to be voted on, can be found in the Company’s proxy statement on Schedule 14A, which was filed with the SEC on April 15, 2020.

The Company continues to monitor current public health measures and if it considers it prudent, the Company may further adjourn the Annual Meeting to a different time or place, or may change the format of the Annual Meeting to a virtual meeting. If so, the Company will issue a subsequent press release announcing any such additional changes.