Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 71

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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2,237 (585)Residential real estate(183)8 (175)(312)51 (261)Construction713 267 980 1,058 417 1,475 Commercial business714 (547)167 531 (640)(109)Consumer453 (129)324 1,050 (353)697 Total loans9 1,060 1,069 (495)1,712 1,217 Federal Home Loan Bank stock(13)(21)(34)(36)(8)(44)Total change in interest and dividend income373 672 1,045 645 686 1,331 Interest expense:Deposits:NOW— 28 28 4 95 99 Money market647 (620)27 752 (1,351)(599)Savings3 (24)(21)(33)(44)(77)Time(215)(1,414)(1,629)498 (2,106)(1,608)Total deposits435 (2,030)(1,595)1,221 (3,406)(2,185)Borrowed money(242)89 (153)(545)259 (286)Total change in interest expense193 (1,941)(1,748)676 (3,147)(2,471)Change in net interest income$180 $2,613 $2,793 $(31)$3,833 $3,802 

(Credit) Provision for Credit Losses

The (credit) 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 June 30, 2025 was $0.4 million compared to a provision for credit losses of $8.2 million for the three months ended June 30, 202