Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 48

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
2024(In thousands)Noninterest bearing demand deposit accounts$397,195 $321,875 Interest bearing accounts:NOW118,019 105,090 Money market875,457 899,413 Savings91,612 90,220 Time certificates of deposit1,276,998 1,370,972 Total interest bearing accounts2,362,086 2,465,695 Total deposits$2,759,281 $2,787,570 Maturities of time certificates of deposit as of June 30, 2025 and December 31, 2024 are summarized below:June 30, 2025December 31, 2024(In thousands)2025$691,518 $1,348,808 2026583,143 4,887 20271,523 1,030 2028756 6,222 2029 and thereafter58 10,025 Total$1,276,998 $1,370,972 The aggregate amount of individual certificate accounts, with balances of $250,000 or more, was approximately $229.2 million at June 30, 2025 and $232.6 million at December 31, 2024.Brokered certificates of deposits totaled $570.2 million at June 30, 2025 and $651.5 million at December 31, 2024, respectively. Brokered money market accounts totaled $53.7 million at June 30, 2025 and $53.5 million at December 31, 2024, respectively. Certificates of deposits from national listing services were $68.4 million and $109.1 million as of June 30, 2025 and December 31, 2024, respectively. There were no one-way buy Certificate of Deposit Account Registry Service ("CDARS") or one-way buy Insured Cash Sweep Service ("ICS") at June 30, 2025 or December 31, 2024. Brokered deposits are comprised of Brokered CDs, brokered money market accounts, one-way buy CDARS, and one-way buy ICS.The following table summarizes interest expense on deposits by account type for the three and six months ended June 30, 2025 and 2024:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)NOW$77 $