Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 91

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, the amendments will be effective two years later. The amendments in this update are to be applied prospectively. For all entities, if 

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by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company believes this ASU will not have a material impact on existing disclosures and will continue to monitor for SEC action, and plan accordingly for adoption.

2. Investment Securities

The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at March 31, 2025 were as follows:March 31, 2025Amortized CostGross UnrealizedFair ValueGainsLosses(In thousands)Available for sale securities:U.S. Government and agency obligationsLess than one year$14,934 $46 $(20)$14,960 Due from one through five years47,449 23 (1,634)45,838 Due from five through ten years15,138 — (666)14,472 Due after ten years6,617 — (648)5,969 Total U.S. Government and agency obligations84,138 69 (2,968)81,239 Corporate bondsDue from five through ten years15,500 — (731)14,769 Due after ten years1,500 — (187)1,313 Total corporate bonds17,000 — (918)16,082 Total available for sale securities$101,138 $69 $(3,886)$97,321 Held to maturity securities:State agency and municipal obligationsLess than one year$6,831 $39 $— $6,870 Due from five through ten years2,797 — (6)2,791 Due after ten years26,850 1,258 (1,006)27,102 Total State agency and municipal obligations36,478 1,297 (1,012)36,763 Government-sponsored mortgage backed securitiesNo contractual maturity— — — — Total held to