Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 143

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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362 Shareholders' equity280,805 272,543 Total liabilities and shareholders' equity$3,192,146 $3,186,905 Net interest income(2)$24,079 $21,286 Interest rate spread2.27 %1.82 %Net interest margin(3)3.10 %2.75 %

(1)Average balances and yields for securities are based on amortized cost.

(2)The adjustment for securities and loans taxable equivalency amounted to $143 thousand and $67 thousand for the three months ended June 30, 2025 and 2024, respectively.

(3)Annualized net interest income as a percentage of earning assets.

(4)Yields are calculated using the contractual day count convention for each respective product type.

53

For the Six Months EndedJune 30, 2025June 30, 2024AverageBalanceInterestYield/Rate (4)AverageBalanceInterestYield/Rate (4)Assets:Cash and Fed funds sold$322,498 $6,600 4.13 %$282,981 $7,255 5.16 %Securities(1)150,059 3,011 4.01 136,049 2,199 3.23 Loans:Commercial real estate1,818,282 55,710 6.09 1,911,896 56,295 5.82 Residential real estate39,544 1,230 6.22 49,624 1,490 6.01 Construction187,674 7,320 7.76 160,080 5,844 7.22 Commercial business533,310 21,204 7.91 520,188 21,314 8.10 Consumer76,784 2,139 5.62 41,150 1,442 7.05 Total loans2,655,594 87,603 6.56 2,682,938 86,385 6.37 Federal Home Loan Bank stock4,799 196 8.21 5,678 239 8.49 Total earning assets3,132,950 $97,410 6.18 %3,107,646 $96,078 6.12 %Other assets89,353 93,179