Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 54

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the client derivatives and the offsetting derivatives are recognized directly in earnings.  

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Information about derivative instruments at September 30, 2025 and December 31, 2024 is as follows:As of September 30, 2025Derivative AssetsDerivative LiabilitiesOriginal Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value(In thousands)Derivatives designated as hedging instruments:Interest rate swap$25,000 Other assets$1,709 $— Accrued expenses and other liabilities$— Fair value swap$— Other assets$— $150,000 Accrued expenses and other liabilities$253 Derivatives not designated as hedging instruments:Interest rate swaps(1)$38,500 Other assets$2,970 $38,500 Accrued expenses and other liabilities$2,970 (1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.Accrued interest receivables related to interest rate swaps as of September 30, 2025 totaled $0.1 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps in a net asset position, including accrued interest, totaled $1.6 million as of September 30, 2025. 

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As of December 31, 2024Derivative AssetsDerivative LiabilitiesOriginal Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value(In thousands)Derivatives designated as hedging instruments:Interest rate swap$75,000 Other assets$3,259 $— Accrued expenses and other liabilities$— Fair value swap$— Other assets$— $150,000 Accrued expenses and other liabilities$259 Derivatives not designated as hedging instruments:Interest rate swaps(1)$38,500 Other assets$4,213 $38,500 Accrued expenses and other liabilities$4,213 (1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.Accrued interest receivables related to interest rate swaps as of December 31, 2024 totaled $0.6 million and is excluded