Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 57

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 securities36,553 36,691 — 29 36,662 Loans receivable, net2,672,959 2,637,922 — — 2,637,922 Accrued interest receivable14,535 14,535 — 14,535 — FHLB stock5,655 5,655 — 5,655 — Servicing asset, net of valuation allowance558 558 — — 558 Derivative asset7,472 7,472 — 7,472 — Other real estate owned8,299 8,299 — — 8,299 Financial Liabilities:Noninterest bearing deposits$321,875 $321,875 $— $321,875 $— NOW and money market1,004,503 1,004,503 — 1,004,503 — Savings90,220 90,220 — 90,220 — Time deposits1,370,972 1,374,309 — — 1,374,309 Accrued interest payable13,737 13,737 — 13,737 — Advances from the FHLB90,000 90,045 — — 90,045 Subordinated debentures69,451 66,167 — — 66,167 Servicing liability— — — — — Derivative liability4,472 4,472 — 4,472 — The following methods and assumptions were used by management in estimating the fair value of its financial instruments:Cash and due from banks, federal funds sold, accrued interest receivable and accrued interest payable: The carrying amount is a reasonable estimate of fair value.Marketable equity securities and available for sale securities: Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. The majority of the available for sale securities are considered to be Level 2 as other observable inputs are utilized, such as quoted prices for similar securities. Level 1 investment securities include investments in U.S. Treasury notes and in marketable equity securities for which a quoted price is readily available in the market. Level 3 held to maturity securities represent private placement municipal housing authority bonds for which no quoted market