Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 61

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely 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.

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The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at September 30, 2025 and December 31, 2024 were as follows:September 30, 2025Carrying ValueFair ValueLevel 1Level 2Level 3(In thousands)Financial Assets:Cash and due from banks$289,628 $289,628 $289,628 $— $— Federal funds sold5,732 5,732 5,732 — — Marketable equity securities2,223 2,223 2,223 — — Available for sale securities96,473 96,473 59,482 36,991 — Held to maturity securities29,538 30,793 — — 30,793 Loans receivable, net2,684,016 2,686,992 — — 2,686,992 Accrued interest receivable15,633 15,633 — 15,633 — FHLB stock4,951 4,951 — 4,951 — Servicing asset, net of valuation allowance853 853 — — 853 Derivative asset4,679 4,679 — 4,679 — Other real estate owned1,284 1,284 — — 1,284 Financial Liabilities:Noninterest bearing deposits$397,408 $397,408 $— $397,408 $— NOW and money market982,123 982,123 — 982,123 — Savings95,242 95,242 — 95,242 — Time deposits1,282,642 1,284,802 — — 1,284,802 Accrued interest payable10,