Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 26

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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— 7,528 (371)4.70 7,528 (371)4.70 Total investment securities$— $— — %$81,386 $(3,621)4.26 %$81,386 $(3,621)4.26 %Length of Time in Continuous Unrealized Loss PositionLess Than 12 Months12 Months or MoreTotalFair ValueUnrealizedLossPercentDecline fromAmortized CostFair ValueUnrealizedLossPercentDecline fromAmortized CostFair ValueUnrealizedLossPercentDecline fromAmortized Cost(Dollars in thousands)December 31, 2024U.S. Government and agency obligations$— $— — %$81,579 $(3,927)4.59 %$81,579 $(3,927)4.59 %Corporate bonds— — — 15,846 (1,154)6.79 15,846 (1,154)6.79 State agency and municipal obligations7,361 (254)(3.33)3,802 (836)18.03 11,163 (1,090)8.89 Total investment securities$7,361 $(254)(3.33)%$101,227 $(5,917)5.52 %$108,588 $(6,171)5.38 %There were thirty-three and thirty-seven available for sale securities or held to maturity securities as of June 30, 2025 and December 31, 2024, respectively, in which the fair value of the security was less than the amortized cost of the security.The U.S. Government and agency obligations owned are either direct obligations of the U.S. Government or guaranteed by the U.S. Government. Therefore, the contractual cash flows are guaranteed and as a result the unrealized losses in this portfolio are considered to be only temporarily impaired.The corporate bonds are investments in subordinated debt of federally insured banks, the majority of which are callable after five years of origination. The Company monitors its corporate bond, state agency and municipal bond portfolios and considers them to have minimal default risk.The Company has the intent and ability to retain its investment securities in an unrealized loss position at June 30, 2025 until the decline in value has recovered or the security has matured.

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3. Loans Receivable and ACL-Lo