Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 73

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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Commercial real estate(739)2,113 1,374 (3,558)4,347 789 Residential real estate(193)(33)(226)(509)23 (486)Construction345 121 466 1,403 539 1,942 Commercial business1,223 (372)851 1,754 (1,012)742 Consumer345 (77)268 1,399 (434)965 Total loans981 1,752 2,733 489 3,463 3,952 Federal Home Loan Bank stock23 (52)(29)(9)(64)(73)Total change in interest and dividend income1,255 1,168 2,423 1,913 1,842 3,755 Interest expense:Deposits:NOW2 79 81 6 173 179 Money market511 (628)(117)1,264 (1,980)(716)Savings36 (27)9 4 (72)(68)Time(1,088)(1,876)(2,964)(622)(3,950)(4,572)Total deposits(539)(2,452)(2,991)652 (5,829)(5,177)Borrowed money125 — 125 (417)255 (162)Total change in interest expense(414)(2,452)(2,866)235 (5,574)(5,339)Change in net interest income$1,669 $3,620 $5,289 $1,678 $7,416 $9,094 

Provision for Credit Losses

The provision for credit losses is based on management’s periodic assessment of the adequacy of our ACL-Loans and ACL-Unfunded Commitments which, in turn, is based on interrelated factors such as the composition of our loan portfolio and its inherent risk characteristics, the level of nonperforming loans and net charge-offs, both current and historic, local economic and credit conditions, the direction of real estate values, and regulatory guidelines. The provision for credit losses is charged against earnings in order to maintain our ACL-Loans and ACL-Unfunded Commitments and reflects management’s best estimate of probable losses inherent in our loan portfolio as of the balance sheet date.

The credit for credit losses for the three months ended September 30, 202