Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 148

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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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 September 30, 2025 vs 2024Increase (Decrease)Nine Months EndedSeptember 30, 2025 vs 2024Increase (Decrease)(In thousands)VolumeRateTotalVolumeRateTotalInterest and dividend income:Cash and Fed funds sold$297 $(649)$(352)$1,227 $(2,234)$(1,007)Securities(46)117 71 206 677 883 Loans:Commercial real estate(739)2,113 1,374 (3,558)4,347 789 Residential real estate(193)(33)(226)(509)23 (486)Construction345 121 466 1,403 539 1,942 Commercial business1,223 (372)851 1,754 (1,012)742 Consumer345 (77)268 1,399 (434)965 Total loans981 1,752 2,733 489 3,463 3,952 Federal Home Loan Bank stock23 (52)(29)(9)(64)(73)Total change in interest and dividend income1,255 1,168 2,423 1,913 1,842 3,755 Interest expense:Deposits:NOW2 79 81 6 173 179 Money market511 (628)(117)1,264 (1,980)(716)Savings36 (27)9 4 (72)(68)Time(1,088)(1,876)(2,964)(622)(3,950)(4,572)Total deposits(539)(2,452)(2,991)652 (5,829)(5,177)Borrowed money125 — 125 (417)255 (162)Total change in interest expense(414)(2,452)(2,866)235 (5,574)(5,339)Change in net interest income$1,669 $3,620 $5,289 $1,678 $7,416 $9,094 

Provision for Credit Losses

The provision for credit losses is based