Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 182

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 182
---
 Months EndedJune 30,Six Months Ended June 30,(Dollars in thousands)2025202420252024Balance at beginning of period$29,485 $27,991 $29,007 $27,946 Charge-offs:Residential real estate— (9)— (141)Commercial real estate— (522)(67)(3,828)Commercial business(15)— (15)(197)Consumer(5)(12)(38)(61)Total charge-offs(20)(543)(120)(4,227)Recoveries:Residential real estate— 141 — 141 Commercial real estate— 113 — 113 Commercial business112 — 116 27 Consumer10 13 46 17 Total recoveries122 267 162 298 Net recoveries (charge-offs)102 (276)42 (3,929)(Credit) provision for credit losses - loans(331)8,368 207 12,066 Balance at end of period$29,256 $36,083 $29,256 $36,083 Net charge-offs to average loans— %0.01 %— %0.15 %ACL-Loans to total loans1.10 %1.36 %1.10 %1.36 %

At June 30, 2025, our ACL-Loans was $29.3 million and represented 1.10% of total gross loans, compared to $29.0 million or 1.07% of total gross loans, at December 31, 2024.

The following table presents the allocation of the ACL-Loans balance and the related allocation percentage of these loans across the total loan portfolio:

June 30, 2025December 31, 2024(Dollars in thousands)ACL-Loans AmountACL-Loans PercentageLoan Segment to Total Loans PercentageACL-Loans AmountACL-Loans PercentageLoan Segment to Total Loans PercentageResidential real estate$65 0.2 %1.3 %$94 0.3 %1.6 %Commercial real estate19,292 66.0 67.5 21,838 75.3 70.2 Construction2,904 9.9 7.6 2,059 7.1 6.4 Commercial business5,526