Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 113

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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09 %128,998 4.00 %161,248 5.00 %Minimum Regulatory Capital Required for Capital AdequacyMinimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action ProvisionsActual CapitalAmountRatioAmountRatioAmountRatioBankwell Financial Group, Inc.December 31, 2024Common Equity Tier 1 Capital to Risk-Weighted Assets$268,733 9.60 %$126,030 4.50 %$182,043 6.50 %Tier I Capital to Risk-Weighted Assets268,733 9.60 %168,040 6.00 %224,053 8.00 %Total Capital to Risk-Weighted Assets367,946 13.14 %224,053 8.00 %280,066 10.00 %Tier I Capital to Average Assets268,733 8.34 %128,943 4.00 %161,179 5.00 %Regulatory Restrictions on DividendsThe ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Parent Corporation. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements.Reserve Requirements on CashThe Bank was not required to maintain a minimum reserve balance in the Federal Reserve Bank (FRB) at March 31, 2025 or December 31, 2024.

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8. Deposits

At March 31, 2025 and December 31, 2024, deposits consisted of the following:March 31, 2025December 31, 2024(In thousands)Noninterest bearing demand deposit accounts$349,525 $321,875 Interest bearing accounts:NOW112,695 105,090 Money market900,352 899,413 Savings91,378 90,220 Time certificates of deposit1,296,495 1,370,972 Total interest bearing accounts2,400,920 2,465,695 Total deposits$2,750,445 $2,787,570 Maturities of time certificates of deposit as of March 31, 2025 and December 31, 2024 are summarized