secwatch.observer — SEC 8-K summary
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Issuer:     Bankwell Financial Group, Inc. (BWFG)
CIK:        0001505732
Form:       8-K
Filed at:   2022-08-19T23:59:59+00:00
Accession:  0001505732-22-000189
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankwell issues $35M of 6.0% subordinated notes due 2032 for Tier 2 capital
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- Issued $35.0 million aggregate principal amount of 6.0% fixed-to-floating rate subordinated notes due September 1, 2032.
- Notes bear fixed rate of 6.0% for first five years, then float at three-month Term SOFR + 326 bps through maturity.
- Qualify as Tier 2 capital for regulatory purposes; unsecured, subordinated, and not guaranteed by any subsidiary.
- Proceeds used for general corporate purposes; notes not convertible or subject to sinking fund.
- Company may redeem notes at 100% of principal plus accrued interest on or after fifth anniversary or earlier in limited circumstances.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505732/000150573222000189/0001505732-22-000189-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505732/000150573222000189/bwfg-20220819.htm
  HTML page:      https://secwatch.observer/filing/0001505732-22-000189

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