BROOKLYN, N.Y. — February 23, 2026
Executive Summary
Bankwell Financial Group, Inc., the parent company of Bankwell Bank (NASDAQ: BWFG), has opened a full-service banking office in Brooklyn’s Bay Ridge neighborhood, formally establishing its first full-service presence in New York State and expanding its commercial and private client banking operations into New York City. The office, located at 557–559 86th Street in Brooklyn, officially opened on February 20, 2026. The expansion reflects Bankwell’s continued focus on closely held businesses, business owners, and professionals in strategically important markets. The new location brings together an experienced private client banking team led by Monika Buono and enables the bank to offer its complete suite of commercial and private client services on the ground in New York.
Expansion Into New York State
The opening of the Bay Ridge office marks a geographic milestone for Bankwell. While the bank has maintained lending relationships and regional coverage across markets beyond its Connecticut headquarters, the Brooklyn office represents its first full-service branch in New York State. The move extends Bankwell’s operational footprint into one of the most economically active boroughs of New York City, a market characterized by closely held enterprises, real estate ownership, entrepreneurial businesses, and professional service firms.
The office officially commenced operations on February 20, 2026. Located on 86th Street in Bay Ridge, the branch is positioned within a commercial corridor known for small and mid-sized businesses, professional practices, and established family-owned enterprises. According to the company, the location supports its broader strategy of embedding experienced bankers directly within the communities they serve, reinforcing relationship-based banking rather than remote service models.
Bankwell stated that the Brooklyn office enables it to deliver full banking capabilities locally, including deposit services, commercial lending, treasury management, and private client banking solutions. The expansion is designed to provide continuity of service for existing relationships in the New York metropolitan area while building new connections within the borough.
Key Announcement Details
- Announcement Classification: Full-service branch opening and geographic market expansion
- Announcement Category: Company Update
- Announcement Date: February 23, 2026
- Issuing Entity: Bankwell Financial Group, Inc.
- Public Company Identifier: NASDAQ: BWFG
- Operating Bank Subsidiary: Bankwell Bank
- Corporate Headquarters: New Canaan, Connecticut
- New Office Opening Date: February 20, 2026
- Office Designation: Full-service banking office
- Office Address: 557–559 86th Street, Brooklyn, NY 11209
- Neighborhood Location: Bay Ridge
- Borough: Brooklyn
- City: New York City
- State: New York
- Market Entry Significance: First full-service Bankwell location in New York State
- Prior State Presence: Limited-service Domestic Representative Office (DRO) in Garden City, Long Island
- DRO Operational Scope: Commercial and lending relationship support only; non-deposit office
- Strategic Expansion Purpose: Expand commercial and private client banking presence into New York City
- Primary Market Focus: Closely held businesses
- Secondary Market Focus: Business owners and professional clients
- Commercial Real Estate Client Segment: Owner-operators and investment real estate clients
- Private Client Banking Leadership: Monika Buono, Private Client Group Director
- Private Client Team Status: Joined Bankwell in 2025
- Executive Commentary Source: Konstantin Grinberg, Head of Private Client Banking
- Team Structure Model: Dedicated single point of contact per client relationship
- Service Model Orientation: Relationship-driven banking
- Commercial Lending Services: Working capital financing and commercial loans
- Owner-Occupied Real Estate Financing: Included
- Investment Real Estate Financing: Included
- Small Business Administration Lending: SBA lending available
- Treasury Management Services: Cash management and related treasury solutions
- Business Deposit Solutions: Commercial deposit accounts
- Individual Deposit Solutions: Personal banking deposit accounts
- Operational Impact: Enables full in-market delivery of Bankwell’s complete commercial and private client banking suite in New York
- Geographic Coverage Expansion: Extends Connecticut-based banking operations into New York City borough-level presence
- Client Engagement Approach: Localized service supported by experienced market professionals
- Community Acknowledgment: Recognition of Zoe Koutsoupakis for prior leadership and client impact alongside Monika Buono
- Legacy Continuity: Team builds upon prior private client banking foundation established before joining Bankwell
- Website Reference: Company website available for location and service information
Leadership and Private Client Team
The Brooklyn office is anchored by an experienced private client banking team that joined Bankwell in 2025. The team is led by Monika Buono, Private Client Group Director, whose experience in the New York market provides the foundation for the branch’s client engagement strategy. According to the company, the team brings established relationships and deep local knowledge, building on a history of serving closely held businesses and their owners in the borough and surrounding areas.
Bankwell noted that the private client team’s approach centers on providing a single, dedicated point of contact for corporate clients and individuals. The structure is designed to streamline communication and decision-making while providing access to a broad range of commercial and treasury solutions. By positioning experienced bankers directly in Brooklyn, the bank stated that it can deliver responsive service aligned with the pace and complexity of the local business environment.
Konstantin Grinberg, Head of Private Client Banking, described Brooklyn as a dynamic business environment supported by entrepreneurs, family-owned companies, and commercial real estate operators. He noted that establishing a Brooklyn office enables Bankwell to support its private client team locally and deliver relationship-driven banking solutions throughout the borough and the broader New York market.
The bank also acknowledged the legacy of Zoe Koutsoupakis, who previously worked alongside Monika Buono in leading private client operations at prior institutions. She is remembered for her professionalism and dedication to clients and community. Bankwell emphasized continuity of service and commitment to clients as the team transitions under its platform.
Services Offered in Brooklyn
The Bay Ridge office delivers Bankwell’s full range of commercial and private client services. These include commercial lending solutions designed to support working capital needs, acquisition financing, and operational expansion for small and mid-sized businesses. Owner-occupied real estate financing and investment real estate lending are also core offerings, reflecting the prominence of property ownership within the borough’s commercial landscape.
The office provides Small Business Administration (SBA) lending capabilities, enabling business owners to access federally supported financing programs tailored to expansion, equipment purchases, and other capital needs. Treasury management services are available to support cash flow optimization, payment processing, and liquidity management for corporate clients.
Deposit services are offered for both businesses and individuals, integrating commercial and private client banking relationships under a unified service structure. The bank stated that the Brooklyn location enables direct, in-person engagement while leveraging Bankwell’s broader operational infrastructure.
From Limited-Service Presence to Full Banking Operations
Prior to the opening of the Bay Ridge office, Bankwell maintained a limited-service Domestic Representative Office in Garden City, Long Island. That office supported commercial and lending relationships but did not operate as a full deposit-taking branch.
The transition to a full-service location in Brooklyn expands Bankwell’s operational scope in New York. The new office allows the bank to originate and service a complete suite of products locally, rather than routing certain services through out-of-state offices. According to the company, this shift strengthens client engagement and enhances responsiveness.
The Brooklyn branch effectively converts the bank’s presence in the New York metropolitan area from relationship support to comprehensive service delivery, aligning geographic reach with product capabilities.
Market Context: Brooklyn’s Commercial Landscape
Brooklyn represents one of New York City’s most economically diverse boroughs, with a strong base of closely held businesses, professional service firms, and commercial real estate operators. Family-owned enterprises and multi-generational businesses continue to play a significant role in the borough’s commercial identity, alongside new entrepreneurial ventures and established operators.
Bankwell’s stated focus on closely held businesses and professionals aligns with the profile of many Bay Ridge and broader Brooklyn enterprises. The bank emphasized relationship-driven banking as central to its service model, underscoring accessibility and direct engagement rather than transactional interactions.
The opening of the office positions Bankwell to serve both established business owners and emerging operators seeking localized banking partnerships.
Strengthening Private Client Banking
Private client banking remains a core component of Bankwell’s strategy. The Brooklyn office consolidates an experienced team under the Bankwell platform, enabling integration of commercial lending, deposit solutions, and treasury services within a single relationship structure.
According to the bank, the private client model emphasizes accessibility and expertise. Clients work directly with seasoned bankers who understand local market dynamics and can coordinate across credit, treasury, and operational functions.
The structure supports business owners who require personalized attention and coordinated financial planning across corporate and personal banking needs.
Operational Strategy and Growth Alignment
The expansion into Brooklyn aligns with Bankwell’s broader operational strategy of selective geographic growth anchored by experienced teams. Rather than expanding through broad branch proliferation, the bank has emphasized strategic placement in markets where relationship-based banking remains valued.
By establishing its first full-service New York branch in Bay Ridge, Bankwell signals a measured approach to entering new markets. The presence of an experienced private client team reduces transition risk and accelerates local integration.
The opening also supports cross-market relationships within the broader New York metropolitan region, linking Connecticut headquarters operations with direct on-the-ground representation in Brooklyn.
About Bankwell Financial Group, Inc. and Bankwell Bank
Bankwell Financial Group, Inc. (NASDAQ: BWFG) is the publicly traded bank holding company for Bankwell Bank, a Connecticut-chartered commercial bank headquartered in New Canaan, Connecticut. Through its operating subsidiary, Bankwell Bank, the company provides commercial banking and private client banking services to closely held businesses, business owners, and professionals.
Bankwell operates as a full-service commercial banking institution offering credit, deposit, and treasury management solutions. Its lending portfolio includes working capital lines of credit, acquisition financing, SBA-backed loans, owner-occupied commercial real estate financing, and investment real estate loans. The bank also provides business deposit accounts and personal deposit products, along with treasury management services designed to support cash flow administration and operational liquidity.
The company’s operating model centers on experienced local banking teams serving defined geographic markets. Relationship management is structured around direct access to senior bankers, with a focus on commercial clients and private clients requiring coordinated banking services across business and personal accounts.
Prior to the opening of its Brooklyn office, Bankwell maintained a limited-service Domestic Representative Office in Garden City, Long Island, supporting commercial and lending relationships within New York. The February 2026 opening of its Bay Ridge office marks the company’s first full-service banking location in New York State, extending its Connecticut-based platform into New York City.
As a publicly traded financial institution, Bankwell Financial Group, Inc. reports under the ticker symbol BWFG on the Nasdaq Stock Market and operates through its wholly owned banking subsidiary. The organization continues to expand selectively into markets aligned with its commercial and private client banking focus.
Media Contact
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Source Attribution
Source: Company announcement