Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 168

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 168
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 unrealized loss position on our investment portfolio at March 31, 2025 was $3.5 million and included gross unrealized gains of $1.4 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

March 31, 2025December 31, 2024(Dollars in thousands)AmountPercentAmountPercentNoninterest bearing demand$349,525 12.71 %$321,875 11.54 %NOW112,695 4.10 105,090 3.77 Money market900,352 32.73 899,413 32.27 Savings91,378 3.32 90,220 3.24 Time1,296,495 47.14 1,370,972 49.18 Total deposits$2,750,445 100.00 %$2,787,570 100.00 %

Total deposits were $2.8 billion at March 31, 2025, a decrease of $37.1 million, from the balance at December 31, 2024.

Brokered certificates of deposits totaled $570.3 million at March 31, 2025 and $651.5 million at December 31, 2024, respectively. Brokered money market accounts totaled $54.1 million at March 31, 2025 and $53.5 million at December 31, 2024, respectively.  Certificate of deposits from national listing services were $109.5 million and $109.1 million as of March 31, 2025 and December 31, 2024, respectively. There were no one-way buy CDARS or one-way buy ICS at March 31, 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 March 31, 2025, our FDIC insured deposits were $1,948.0 million, or 71% of total deposits. Additionally, deposits totaling $118.6 million, or 4% of total deposits, are insured by standby letters of credit with the Federal Home Loan Bank of Boston.