Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 41

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 41
---
.

30

Allowance for credit losses (ACL)-Unfunded CommitmentsThe Company has recorded ACL-Unfunded Commitments in Accrued expenses and other liabilities. The provision is recorded within the Provision for credit losses on the Company’s Consolidated Statements of Income. The following table presents a roll forward of the ACL-Unfunded Commitments for the three and six months ended June 30, 2025 and June 30, 2024:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Balance at beginning of period$681 $911 $756 $926 (Credit) for credit losses (unfunded commitments)(79)(185)(154)(200)Balance at end of period$602 $726 $602 $726 Components of (Credit) Provision for Credit LossesThe following table summarizes the Provision for credit losses for the three and six months ended June 30, 2025 and June 30, 2024:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)(Credit) provision for credit losses (loans)$(331)$8,368 $206 $12,066 (Credit) for credit losses (unfunded commitments)(80)(185)(154)(200)(Credit) provision for credit losses$(411)$8,183 $52 $11,866 

31

4. Shareholders' Equity

Common StockThe Company has 10,000,000 shares authorized and 7,873,387 shares issued and outstanding at June 30, 2025 and 10,000,000 shares authorized and 7,859,873 shares issued and outstanding at December 31, 2024. The Company's stock is traded on the Nasdaq Global Market under the ticker symbol BWFG.DividendsThe Company’s shareholders are entitled to dividends when and if declared by the Board of Directors out of funds legally available. The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Parent Corporation. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements.Issuer Purchases of Equity SecuritiesOn December 19, 2018,