Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 15

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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577)(628)Unrealized gains on securities, net of tax444 2,050 1,864 2,238 Unrealized losses on interest rate swaps:Unrealized losses on interest rate swaps(148)(2,429)(1,559)(3,012)Income tax benefit37 575 369 678 Unrealized losses on interest rate swaps, net of tax(111)(1,854)(1,190)(2,334)Total other comprehensive income (loss), net of tax333 196 674 (96)Comprehensive income$10,411 $2,122 $26,728 $6,711 

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 June 30, 20257,873,387 $118,698 $165,495 $(903)$283,290 Net income— — 10,078 — 10,078 Other comprehensive income, net of tax— — — 333 333 Cash dividends declared ($0.20 per share)— — (1,565)— (1,565)Stock-based compensation expense— 655 — — 655 Forfeitures of restricted stock(2,119)— — — — Issuance of restricted stock6,175 — — — — Balance at September 30, 20257,877,443 $119,353 $174,008 $(570)$292,791 

Number of Outstanding SharesCommon StockRetained EarningsAccumulated Other Comprehensive (Loss) IncomeTotalBalance at June 30, 20247,866,499 $118,037 $150,895 $(1,956)$266,976 Net income— — 1,926 — 1,926 Other comprehensive income, net of tax— — — 196 196 Cash dividends declared ($0.20 per share)— — (1,564)— (1,564)Stock-based compensation expense— 623 — — 623 Forfeitures of restricted stock(1,562)— —