Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 117

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 of $29.93 per share. 

5. Comprehensive Income

Comprehensive income represents the sum of net income and items of other comprehensive income or loss, including net unrealized gains or losses on securities available for sale and net unrealized gains or losses on derivatives. The Company's derivative instruments are utilized to manage economic risks, including interest rate risk. Changes in fair value of the Company's cash flow swap derivatives are primarily driven by changes in interest rates and recognized in other comprehensive income. The Company’s total comprehensive income or loss for the three and six months ended June 30, 2025 and June 30, 2024 is reported in the Consolidated Statements of Comprehensive Income.

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The following tables present the changes in accumulated other comprehensive (loss) income by component, net of tax for the three and six months ended June 30, 2025 and June 30, 2024:    Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal(In thousands)Balance at March 31, 2025$(2,916)$1,720 $(1,196)Other comprehensive income (loss) before reclassifications, net of tax504 (68)436 Amounts reclassified from accumulated other comprehensive (loss), net of tax— (143)(143)Net other comprehensive income (loss)504 (211)293 Balance at June 30, 2025$(2,412)$1,509 $(903)Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal(In thousands)Balance at March 31, 2024$(5,926)$4,207 $(1,719)Other comprehensive income before reclassifications, net of tax304 420 724 Amounts reclassified from accumulated other comprehensive (loss), net of tax— (961)(961)Net other comprehensive income (loss)304 (541)(237)Balance at June 30, 2024$(5,622)$3,666 $(1,956)Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal(In thousands)Balance at December 31, 2024$(3,832)$2,588 $(1,244)Other comprehensive income (loss) before reclassifications, net of tax1,420 (469)