Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 13

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 13
---
,420 189 Unrealized (losses) on interest rate swaps:Unrealized (losses) on interest rate swaps(277)(709)(1,411)(583)Income tax benefit66 168 332 102 Unrealized (losses) on interest rate swaps, net of tax(211)(541)(1,079)(481)Total other comprehensive income (loss), net of tax293 (237)341 (292)Comprehensive income$9,381 $881 $16,317 $4,589 

See accompanying notes to consolidated financial statements (unaudited)

6

Bankwell Financial Group, Inc.

Consolidated Statements of Shareholders' Equity - (unaudited)

(In thousands, except share data)

Number of Outstanding SharesCommon StockRetained EarningsAccumulated Other Comprehensive (Loss) IncomeTotalBalance at March 31, 20257,888,013 $118,439 $157,971 $(1,196)$275,214 Net income— — 9,088 — 9,088 Other comprehensive income, net of tax— — — 293 293 Cash dividends declared ($0.20 per share)— — (1,564)— (1,564)Stock-based compensation expense— 681 — — 681 Forfeitures of restricted stock— — — — — Issuance of restricted stock— — — — — Stock options exercised— — — — — Repurchase of common stock(14,626)(422)— — (422)Balance at June 30, 20257,873,387 $118,698 $165,495 $(903)$283,290 

Number of Outstanding SharesCommon StockRetained EarningsAccumulated Other Comprehensive (Loss) IncomeTotalBalance at March 31, 20247,908,180 $118,401 $151,350 $(1,719)$268,032 Net income— — 1,118 — 1,118 Other comprehensive (loss), net of tax— — — (237)(237)Cash dividends declared ($0.20 per share)— — (1,573)— (1,573)Stock-based compensation expense— 622 — — 622 Forfeitures of restricted stock