Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 125

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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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 September 30, 2025 or December 31, 2024.

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8. Deposits

At September 30, 2025 and December 31, 2024, deposits consisted of the following:September 30, 2025December 31, 2024(In thousands)Noninterest bearing demand deposit accounts$397,408 $321,875 Interest bearing accounts:NOW84,736 105,090 Money market897,387 899,413 Savings95,242 90,220 Time certificates of deposit1,282,642 1,370,972 Total interest bearing accounts2,360,007 2,465,695 Total deposits$2,757,415 $2,787,570 Maturities of time certificates of deposit as of September 30, 2025 and December 31, 2024 are summarized below:September 30, 2025December 31, 2024(In thousands)2025$358,789 $1,348,808 2026919,596 4,887 20273,174 1,030 20281,025 6,222 2029 and thereafter58 10,025 Total$1,282,642 $1,370,972 The aggregate amount of individual certificate accounts with balances of $250,000 or more was approximately $243.2 million at September 30, 2025 and $232.6 million at December 31, 2024.Brokered certificates of deposits totaled $555.0 million at September 30, 2025 and $651.5 million at December 31, 202