Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 149

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 June 30, 2025 and $2.7 billion at December 31, 2024. Total gross loans decreased $36.9 million as of June 30, 2025 compared to the year ended December 31, 2024.

The following table compares the composition of our loan portfolio for the dates indicated:

(In thousands)At June 30, 2025At December 31, 2024ChangeReal estate loans:Residential$34,978 $42,766 $(7,788)Commercial1,802,224 1,899,134 (96,910)Construction203,758 173,555 30,203 2,040,960 2,115,455 (74,495)Commercial business559,221 515,125 44,096 Consumer68,801 75,308 (6,507)Total loans$2,668,982 $2,705,888 $(36,906)

The following table compares the composition of our commercial real estate loan portfolio by non-owner occupied and owner occupied loans at June 30, 2025 and December 31, 2024:

At June 30, 2025At December 31, 2024ChangeTotal%Total%Total(Dollars in thousands)Commercial real estate loans:Non-owner occupied$1,077,313 59.78 %$1,174,712 61.86 %$(97,399)Owner occupied724,701 40.22 724,203 38.14 498 Total commercial real estate loans(1)$1,802,014 100.00 %$1,898,915 100.00 %$(96,901)

(1) Excludes the positive fair value effect of the portfolio layer swap of $210 thousand and the positive fair value effective of the portfolio layer swap of $219 thousand for Commercial Real Estate at June 30, 2025 and December 31, 2024, respectively.

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The following table compares the composition of our commercial real estate loan portfolio by property type, and collateral location as of June 30, 2025:

Commercial Real EstateCTAll Other NYNYCNJFLPAOHAll OtherTotal(1)(Dollars in thousands)Residential care(2)$— $64,539 $57,973 $4,800 $235,296