Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 176

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 176
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 equivalency amounted to $427 thousand and $239 thousand for the nine months ended September 30, 2025 and 2024, respectively.

(3)Annualized net interest income as a percentage of earning assets.

(4)Yields are calculated using the contractual day count convention for each respective product type.

55

Effect of changes in interest rates and volume of average earning assets and average interest bearing liabilities

The following table shows the extent to which changes in interest rates and changes in the volume of average earning assets and average interest bearing liabilities have affected net interest income. For each category of earning assets and interest bearing liabilities, information is provided relating to: changes in volume (changes in average balances multiplied by the prior year’s average interest rates); changes in rates (changes in average interest rates multiplied by the prior year’s average balances); and the total change. Changes attributable to both volume and rate have been allocated proportionately based on the relationship of the absolute dollar amount of change in each.

Three Months Ended September 30, 2025 vs 2024Increase (Decrease)Nine Months EndedSeptember 30, 2025 vs 2024Increase (Decrease)(In thousands)VolumeRateTotalVolumeRateTotalInterest and dividend income:Cash and Fed funds sold$297 $(649)$(352)$1,227 $(2,234)$(1,007)Securities(46)117 71 206 677 883 Loans:Commercial real estate(739)2,113 1,374 (3,558)4,347 789 Residential real estate(193)(33)(226)(509)23 (486)Construction345 121 466 1,403 539 1,942 Commercial business1,223 (372)851 1,754 (1,012)742 Consumer345 (77)268 1,399 (434)965 Total loans981 1,752 2,733 489 3,463 3,952 Federal Home Loan Bank stock23 (52)(29)(9)(64)(73)Total change in interest and dividend income1,255 1,168 2,423 1,913 1,842 3,755 Interest expense:Deposits:NOW2 79 81 6 173 179 Money market511 (628)(117)1,264 (1,980)(716)Savings36