Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 70

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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,357 46,328 6.71 2,663,612 43,596 6.40 Federal Home Loan Bank stock6,942 89 5.11 5,655 122 8.32 Total earning assets3,128,674 $50,733 6.34 %3,070,362 $48,313 6.16 %Other assets98,547 90,410 Total assets$3,227,221 $3,160,772 Liabilities and shareholders' equity:Interest bearing liabilities:NOW$99,087 $124 0.50 %$94,958 $44 0.18 %Money market883,440 8,479 3.81 832,430 8,597 4.11 Savings94,290 700 2.95 89,463 692 3.07 Time1,253,878 13,282 4.20 1,347,857 16,246 4.79 Total interest bearing deposits2,330,695 22,585 3.84 2,364,708 25,579 4.30 Borrowed Money169,867 2,020 4.72 159,349 1,895 4.73 Total interest bearing liabilities2,500,562 $24,605 3.90 %2,524,057 $27,474 4.33 %Noninterest bearing deposits383,153 303,213 Other liabilities54,507 62,602 Total liabilities2,938,222 2,889,872 Shareholders' equity288,999 270,900 Total liabilities and shareholders' equity$3,227,221 $3,160,772 Net interest income(2)$26,128 $20,839 Interest rate spread2.44 %1.83 %Net interest margin(3)3.34 %2.72 %

(1)Average balances and yields for securities are based on amortized cost.

(2)The adjustment for securities and loans taxable equivalency amounted to $141 thousand and $122 thousand for the three months ended September 30, 2025 and 2024, respectively.

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

(4)Yields are calculated