Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 36

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 multiple points, outsourced loan review opines on risk ratings with regard to the sample of loans their review covers.The following tables present credit risk ratings by loan segment as of June 30, 2025 and December 31, 2024:Commercial Credit Quality IndicatorsJune 30, 2025December 31, 2024Commercial Real EstateConstructionCommercial BusinessTotalCommercial Real EstateConstructionCommercial BusinessTotal(In thousands)Pass$1,692,203 $184,475 $545,569 $2,422,247 $1,767,482 $173,555 $501,432 $2,442,469 Special Mention93,634 19,283 6,781 119,698 86,838 — 6,020 92,858 Substandard16,387 — 6,845 23,232 43,413 — 7,619 51,032 Doubtful— — 26 26 1,401 — 54 1,455 Loss— — — — — — — — Total loans$1,802,224 $203,758 $559,221 $2,565,203 $1,899,134 $173,555 $515,125 $2,587,814 Residential and Consumer Credit Quality IndicatorsJune 30, 2025December 31, 2024Residential Real EstateConsumerTotalResidential Real EstateConsumerTotal(In thousands)Pass$31,842 $68,800 $100,642 $39,359 $75,308 $114,667 Special Mention291 — 291 356 — 356 Substandard2,846 — 2,846 3,051 — 3,051 Doubtful— — — — — — Loss— — — — — — Total loans$34,979 $68,800 $103,779 $42,766 $75,308 $118,074 

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Loan portfolio aging analysisWhen a loan is 15 days past due, the Company sends the borrower a late notice. The Company attempts to contact the borrower by phone if the delinquency is not corrected promptly after the notice has been sent. When the loan is 30 days past