Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 52

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 2025 and December 31, 2024 is as follows:As of June 30, 2025Derivative AssetsDerivative LiabilitiesOriginal Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value(In thousands)Derivatives designated as hedging instruments:Interest rate swap$25,000 Other assets$1,854 $— Accrued expenses and other liabilities$— Fair value swap$— Other assets$— $150,000 Accrued expenses and other liabilities$242 Derivatives not designated as hedging instruments:Interest rate swaps(1)$38,500 Other assets$3,169 $38,500 Accrued expenses and other liabilities$3,169 (1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.Accrued interest receivables related to interest rate swaps as of June 30, 2025 totaled $0.1 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps in a net asset position, including accrued interest, totaled $1.8 million as of June 30, 2025. 

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As of December 31, 2024Derivative AssetsDerivative LiabilitiesOriginal Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value(In thousands)Derivatives designated as hedging instruments:Interest rate swap$75,000 Other assets$3,259 $— Accrued expenses and other liabilities$— Fair value swap$— Other assets$— $150,000 Accrued expenses and other liabilities$259 Derivatives not designated as hedging instruments:Interest rate swaps(1)$38,500 Other assets$4,213 $38,500 Accrued expenses and other liabilities$4,213 (1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.Accrued interest receivables related to interest rate swaps as of December 31, 2024 totaled $0.6 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps in a net asset position, including accrued interest, totaled $3.7 million as of December 31, 2024.The effective portion of changes in the fair value of derivatives designated as cash flow hedges is recorded