Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 172

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 172
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 securities and loans taxable equivalency amounted to $285 thousand and $118 thousand for the six months ended June 30, 2025 and 2024, respectively.

(3)Annualized net interest income as a percentage of earning assets.

(4)Yields are calculated using the contractual day count convention for each respective product type.

54

Effect of changes in interest rates and volume of average earning assets and average interest bearing liabilities

The following table shows the extent to which changes in interest rates and changes in the volume of average earning assets and average interest bearing liabilities have affected net interest income. For each category of earning assets and interest bearing liabilities, information is provided relating to: changes in volume (changes in average balances multiplied by the prior year’s average interest rates); changes in rates (changes in average interest rates multiplied by the prior year’s average balances); and the total change. Changes attributable to both volume and rate have been allocated proportionately based on the relationship of the absolute dollar amount of change in each.

Three Months Ended June 30, 2025 vs 2024Increase (Decrease)Six Months EndedJune 30, 2025 vs 2024Increase (Decrease)(In thousands)VolumeRateTotalVolumeRateTotalInterest and dividend income:Cash and Fed funds sold$270 $(656)$(386)$933 $(1,587)$(654)Securities107 289 396 243 569 812 Loans:Commercial real estate(1,688)1,461 (227)(2,822)2,237 (585)Residential real estate(183)8 (175)(312)51 (261)Construction713 267 980 1,058 417 1,475 Commercial business714 (547)167 531 (640)(109)Consumer453 (129)324 1,050 (353)697 Total loans9 1,060 1,069 (495)1,712 1,217 Federal Home Loan Bank stock(13)(21)(34)(36)(8)(44)Total change in interest and dividend income373 672 1,045 645 686 1,331 Interest expense:Deposits:NOW— 28 28 4 95 99 Money market647 (620)27 752 (1,351)(599)Savings3 (24)(21)(33)(44)(77)Time(215