Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 82

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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 gains of $1.8 million. The net unrealized loss position on our investment portfolio at December 31, 2024 was $4.9 million and included gross unrealized gains of $1.3 million.

Deposit Activities and Other Sources of Funds

June 30, 2025December 31, 2024(Dollars in thousands)AmountPercentAmountPercentNoninterest bearing demand$397,195 14.4 %$321,875 11.5 %NOW118,019 4.3 105,090 3.8 Money market875,457 31.7 899,413 32.3 Savings91,612 3.3 90,220 3.2 Time1,276,998 46.3 1,370,972 49.2 Total deposits$2,759,281 100.0 %$2,787,570 100.0 %

Total deposits were $2.8 billion at June 30, 2025, a decrease of $28.3 million, from the balance at December 31, 2024.

Brokered certificates of deposits totaled $570.2 million at June 30, 2025 and $651.5 million at December 31, 2024, respectively. Brokered money market accounts totaled $53.7 million at June 30, 2025 and $53.5 million at December 31, 2024, respectively.  Certificates of deposits from national listing services were $68.4 million and $109.1 million as of June 30, 2025 and December 31, 2024, respectively. There were no one-way buy CDARS or one-way buy ICS at June 30, 2025 or December 31, 2024. Brokered deposits are comprised of Brokered CDs, brokered money market accounts, one-way buy CDARS, and one-way buy ICS.

As of June 30, 2025, our FDIC insured deposits were $1,903.8 million, or 69% of total deposits. Additionally, deposits totaling $120.0 million, or 4% of total deposits, are secured by standby letters of credit with the Federal Home Loan Bank of Boston. 

At June 30, 2025 and December 31, 2024, time deposits with a denomination of $100 thousand