NEW CANAAN, Conn.--(BUSINESS WIRE)--
Bankwell Financial Group, Inc. (NASDAQ:BWFG), the holding company for
Bankwell Bank, announced that Ernest J. Verrico, Sr., its Chief
Financial Officer and Executive Vice President, has tendered his
retirement notice effective January 31, 2017. Mr. Verrico was named
Chief Financial Officer and Executive Vice President of the Company in
September 2009 and served as the Chief Operating Officer from 2010 until
2013.
Mr. Verrico came to Bankwell as a member of the executive management
team with over 30 years’ experience, holding several executive positions
at First Union National Bank of CT and Cornerstone Bank, and prior to
that, a six year career at PriceWaterhouseCoopers where he specialized
in serving banks and financial clients. Mr. Verrico was a key member of
the Bankwell executive team during the 2014 road-show presentations for
the Company’s 2014 Initial Public Offering. Mr. Verrico was also very
instrumental in negotiating the successful acquisitions of The Wilton
Bank and Quinnipiac Bank & Trust Company. Since Mr. Verrico’s arrival,
the Bank has grown from approximately $300 million in assets to $1.4
billion at March 31, 2016.
Mr. Verrico said: “I am proud to be a member of the Bankwell executive
team and will continue to work with the Company in the search for my
successor. I want to personally thank all of the Directors who have
supported me over the years and a special thanks to all my friends on
the Bankwell Team.”
Mr. Gruseke said: “Ernie has been an important part of the Bankwell team
for almost seven years. During that time, Bankwell has grown its assets
by 367% and Ernie helped the Bank through its initial public offering
and two acquisitions. We thank him for his dedication and congratulate
Ernie on his retirement. Bankwell has initiated a search for a new CFO
and Ernie’s availability through January, 2017 will ensure a smooth
transition.”
About Bankwell Financial Group
Bankwell is a commercial bank that serves the banking and lending needs
of residents and businesses throughout Fairfield and New Haven Counties,
Connecticut. For more information about this press release, interested
parties may contact Christopher R. Gruseke, President and Chief
Executive Officer or Ernest J. Verrico Sr., Executive Vice President and
Chief Financial Officer of Bankwell Financial Group at (203) 652-0166.
For more information, visit www.mybankwell.com.
This press release may contain certain forward-looking statements
about the Company. Forward-looking statements include statements
regarding anticipated future events and can be identified by the fact
that they do not relate strictly to historical or current facts. They
often include words such as “believe,” “expect,” “anticipate,”
“estimate,” and “intend” or future or conditional verbs such as “will,”
“would,” “should,” “could,” or “may.” Forward-looking statements, by
their nature, are subject to risks and uncertainties. Certain factors
that could cause actual results to differ materially from expected
results include increased competitive pressures, changes in the interest
rate environment, general economic conditions or conditions within the
securities markets, and legislative and regulatory changes that could
adversely affect the business in which the Company and its subsidiaries
are engaged.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160614006363/en/
Bankwell Financial Group
Christopher R. Gruseke, 203-652-0166
President
and Chief Executive Officer
or
Ernest J. Verrico Sr.,
203-652-0166
Executive Vice President and Chief Financial Officer
Source: Bankwell Financial Group, Inc.