Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 109

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 transactions. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws, and other factors. The share repurchase plan does not obligate the Company to acquire any particular amount of Common Stock, and it may be modified or suspended at any time at the Company's discretion. During the three months ended March 31, 2025, the Company purchased 29,924 shares of its Common Stock at a weighted average of $30.46 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 March 31, 2025 and March 31, 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 months ended March 31, 2025 and March 31, 2024:    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 $(1,244)Other comprehensive income (loss) before reclassifications, net of tax914 (399)515 Amounts reclassified from accumulated other comprehensive income, net of tax— (467)(467)Net other comprehensive income (loss)914 (866)48 Balance at March 31, 2025$(2,918)$1,722 $(1,196)Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal(In thousands)Balance at December 31, 2023$(5,810)$4,146 $(1,664)Other comprehensive (loss) income before reclassifications, net of tax(116)664 548 Amounts reclassified from accumulated other comprehensive income, net of tax— (603)(603)Net other comprehensive (loss) income(116)61 (55)Balance at March 31,