Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 98

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 has adopted this ASU in December 2024 and it did not have a material impact on existing disclosures.

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2. Investment Securities

The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at June 30, 2025 were as follows:June 30, 2025Amortized CostGross UnrealizedFair ValueGainsLosses(In thousands)Available for sale securities:U.S. Government and agency obligationsLess than one year$25,087 $23 $(299)$24,811 Due from one through five years47,244 69 (1,052)46,261 Due from five through ten years14,295 — (544)13,751 Due after ten years6,462 — (576)5,886 Total U.S. Government and agency obligations93,088 92 (2,471)90,709 Corporate bondsDue from five through ten years12,500 — (610)11,890 Due after ten years1,500 — (169)1,331 Total corporate bonds14,000 — (779)13,221 Total available for sale securities$107,088 $92 $(3,250)$103,930 Held to maturity securities:State agency and municipal obligationsLess than one year$6,842 $32 $— $6,874 Due from five through ten years2,786 65 — 2,851 Due after ten years26,806 1,604 (371)28,039 Government-sponsored mortgage backed securitiesNo contractual maturity— — — — Total held to maturity securities$36,434 $1,701 $(371)$37,764     

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The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at December 31, 2024 were as follows:December 31, 2024Amortized CostGross UnrealizedFair ValueGainsLosses(In thousands)Available for sale securities:U.S. Government and agency obligationsLess than one year$24,920 $66 $(92)$24,894 Due from one through five years47,541 — (2,117)45,424 Due from five through ten years16,038 — (906)15