Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 27

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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$6,820 $37 $— $6,857 Due from one through five years2,808 — (77)2,731 Due after ten years26,897 1,190 (1,013)27,074 Total state and municipal obligations36,525 1,227 (1,090)36,662 Government-sponsored mortgage backed securitiesNo contractual maturity28 1 — 29 Total held to maturity securities$36,553 $1,228 $(1,090)$36,691 There was one sale and no sales of investment securities during the nine months ended September 30, 2025 or 2024, respectively.At September 30, 2025 and December 31, 2024, none of the Company's securities were pledged as collateral with the Federal Home Loan Bank ("FHLB") or any other institution.As of September 30, 2025 and December 31, 2024, the actual durations of the Company's available for sale securities were significantly shorter than the stated maturities.As of September 30, 2025, the Company held marketable equity securities with a fair value of $2.2 million and an amortized cost of $2.3 million. At December 31, 2024, the Company held marketable equity securities with a fair value of $2.1 million and an amortized cost of $2.3 million. These securities represent an investment in mutual funds that have an objective to make investments for Community Reinvestment Act ("CRA") purposes.

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The following tables provide information regarding available for sale securities and held to maturity securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2025 and December 31, 2024: Length of Time in Continuous Unrealized Loss PositionLess Than 12 Months12 Months or MoreTotalFair ValueUnrealizedLossPercentDecline fromAmortized CostFair ValueUnrealizedLossPercentDecline fromAmortized CostFair ValueUnrealizedLossPercentDecline fromAmortized Cost(Dollars in thousands)September 30, 2025U.S. Government and agency obligations$— $— — %$55,029 $(2,015)3.53 %$55,029 $(2,015)3.53 %Corporate bonds—