Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 45

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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4$— $1,348,808 20251,049,046 4,887 2026245,764 1,030 20271,109 6,222 After 2028576 10,025 Total$1,296,495 $1,370,972 The aggregate amount of individual certificate accounts, with balances of $250,000 or more, was approximately $228.0 million at March 31, 2025 and $232.6 million at December 31, 2024.Brokered certificates of deposits totaled $570.3 million at March 31, 2025 and $651.5 million at December 31, 2024, respectively. Brokered money market accounts totaled $54.1 million at March 31, 2025 and $53.5 million at December 31, 2024, respectively. Certificate of deposits from national listing services were $109.5 million and $109.1 million as of March 31, 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 March 31, 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 months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024(In thousands)NOW$109 $39 Money market8,521 9,146 Savings658 714 Time certificates of deposits15,484 15,463 Total interest expense on deposits$24,772 $25,362 

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9. Stock-Based Compensation

Equity award plansThe Company has unvested restricted stock outstanding under two equity award plans, which are collectively referred to as the “Stock Plans”. The current plan under which any future issuances of equity awards will be made is the 2022 Bankwell Financial Group, Inc. Stock Plan, or the “2022 Plan”. All equity awards made under the 2022 Plan are made by means of an award agreement, which contains the specific terms and conditions of the grant. To date, all equity awards have been in the