Bankwell Financial Group, Inc. (NASDAQ:BWFG) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01
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Changes in Registrant’s Certifying Accountant
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Item 9.01
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Financial Statements and Exhibits
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EXHIBIT INDEX
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EX-16.1
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Letter from Whittlesey Hadley, P.C. to the Securities and
Exchange Commission dated April 13, 2017 |
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Item 4.01
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Changes in Registrant’s Certifying Accountant
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(a)
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The Audit Committee (the “Committee”) of the Board of
Directors of Bankwell Financial Group, Inc. (the “Company”) recently conducted a competitive selection process to determine the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017. The Committee invited several experienced public accounting firms to participate in this process, including Whittlesey Hadley, P.C. (“WH”), the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2016. As a result of this process, the Committee approved the appointment of RSM US LLP (“RSM”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017, subject to completion of its standard client acceptance procedures. This action effectively dismissed WH as the Company’s independent registered public accounting firm subsequent to their first quarter 2017 review.
The reports of WH on the Company’s consolidated financial
statements for the fiscal years ended December 31, 2016 and 2015 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. In connection with the audits of the Company’s consolidated financial statements for the fiscal years ended December 31, 2016 and 2015, there were no disagreements with WH on any matters of accounting principles or practices, financial statement disclosure or auditing scope and procedures which, if not resolved to the satisfaction of WH, would have caused WH to make reference to the matter in their report. There were no reportable events (as that term is described in Item 304(a)(1)(v) of Regulation S-K) during the two fiscal years ended December 31, 2015 and 2016.
The Company has provided a copy of the foregoing
disclosures to WH and requested that WH furnish it with a letter addressed to the Securities and Exchange Commission stating whether WH agrees with the above statements. A copy of WH’s letter, dated April 13, 2017, is filed as Exhibit 16.1 to this Form 8-K. |
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(b)
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On April 7, 2017, the Audit Committee approved the
engagement of RSM as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017, contingent upon completion of RSM’s acceptance procedures. If RSM does not accept retention as the Company’s independent registered public accounting firm, the Company will amend the Report. In deciding to engage RSM, the Audit Committee reviewed auditor independence and existing commercial relationships with RSM and concluded that RSM has no commercial relationship with the Company that would impair its independence. During the fiscal years ended December 31, 2016 and December 31, 2015, respectively, and in the subsequent interim period through April 7, 2017, neither the Company nor anyone acting on its behalf has consulted with RSM on any of the matters or events set forth in Item 304(a)(2) of Regulation S-K. |
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Item 9.01
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Financial Statements and Exhibits
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(a)
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Not applicable.
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(b)
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Not applicable.
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(c)
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Not applicable.
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(d)
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Exhibits.
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Exhibit Number
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Description
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16.1
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Letter from Whittlesey Hadley, P.C. to the Securities and
Exchange Commission dated April 13, 2017 |
About Bankwell Financial Group, Inc. (NASDAQ:BWFG)
Bankwell Financial Group, Inc. is a bank holding company. The Company offers a range of financial services through its banking subsidiary, Bankwell Bank (the Bank). The Bank is a Connecticut state non-member bank. The Bank provides a range of banking services to commercial and consumer customers, concentrated in the Fairfield and New Haven Counties region of Connecticut. The Bank’s commercial lending products include owner-occupied commercial real estate loans, commercial real estate investment loans, commercial loans (such as business term loans, equipment financing and lines of credit) to small and mid-sized businesses, and real estate construction and development loans. The Bank’s retail lending products include residential mortgage loans, home equity lines of credit and consumer installment loans. Its depository products include checking, savings, money market, certificates of deposit, noninterest-bearing demand, negotiable order of withdrawal (NOW) and time deposits. Bankwell Financial Group, Inc. (NASDAQ:BWFG) Recent Trading Information
Bankwell Financial Group, Inc. (NASDAQ:BWFG) closed its last trading session up +0.10 at 32.91 with 1,194 shares trading hands.
