Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 68

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 68
---
,136 43,060 6.37 Federal Home Loan Bank stock5,000 86 6.85 5,655 118 8.47 Total earning assets3,103,179 $48,792 6.22 %3,091,452 $47,746 6.11 %Other assets88,967 95,453 Total assets$3,192,146 $3,186,905 Liabilities and shareholders' equity:Interest bearing liabilities:NOW$107,818 $77 0.29 %$107,310 $49 0.18 %Money market898,777 8,579 3.83 833,489 8,552 4.13 Savings91,415 667 2.93 90,987 688 3.04 Time1,273,372 13,760 4.33 1,291,595 15,388 4.76 Total interest bearing deposits2,371,382 23,083 3.90 2,323,381 24,677 4.27 Borrowed Money138,380 1,630 4.72 159,288 1,783 4.50 Total interest bearing liabilities2,509,762 $24,713 3.95 %2,482,669 $26,460 4.29 %Noninterest bearing deposits352,623 368,516 Other liabilities48,956 63,177 Total liabilities2,911,341 2,914,362 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