Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 130

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk.The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at June 30, 2025 and December 31, 2024 were as follows:June 30, 2025Carrying ValueFair ValueLevel 1Level 2Level 3(In thousands)Financial Assets:Cash and due from banks$313,998 $313,998 $313,998 $— $— Federal funds sold8,466 8,466 8,466 — — Marketable equity securities2,188 2,188 2,188 — — Available for sale securities103,930 103,930 64,223 39,707 — Held to maturity securities36,434 37,764 — — 37,764 Loans receivable, net2,635,742 2,630,786 — — 2,630,786 Accrued interest receivable14,741 14,741 — 14,741 — FHLB stock5,051 5,051 — 5,051 — Servicing asset, net of valuation allowance671 671 — — 671 Derivative asset5,024 5,024 — 5,024 — Other real estate owned1,284 1,284 — — 1,284 Financial Liabilities:Noninterest bearing deposits$397,195 $397,195 $— $397,195 $— NOW and money market993,476 993,476 — 993,476 — Savings91,612 91,612 — 91,612 — Time deposits1,276,998 1,277,723 — — 1,277,723 Accrued interest payable11,843 11,843 — 11,843 — Advances from the FHLB75,000 74,958 — — 74,958 Subordinated debent