Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 155

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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— 116 27 Consumer10 13 46 17 Total recoveries122 267 162 298 Net recoveries (charge-offs)102 (276)42 (3,929)(Credit) provision for credit losses - loans(331)8,368 207 12,066 Balance at end of period$29,256 $36,083 $29,256 $36,083 Net charge-offs to average loans— %0.01 %— %0.15 %ACL-Loans to total loans1.10 %1.36 %1.10 %1.36 %

At June 30, 2025, our ACL-Loans was $29.3 million and represented 1.10% of total gross loans, compared to $29.0 million or 1.07% of total gross loans, at December 31, 2024.

The following table presents the allocation of the ACL-Loans balance and the related allocation percentage of these loans across the total loan portfolio:

June 30, 2025December 31, 2024(Dollars in thousands)ACL-Loans AmountACL-Loans PercentageLoan Segment to Total Loans PercentageACL-Loans AmountACL-Loans PercentageLoan Segment to Total Loans PercentageResidential real estate$65 0.2 %1.3 %$94 0.3 %1.6 %Commercial real estate19,292 66.0 67.5 21,838 75.3 70.2 Construction2,904 9.9 7.6 2,059 7.1 6.4 Commercial business5,526 18.9 21.0 4,070 14.0 19.0 Consumer1,469 5.0 2.6 946 3.3 2.8 Total ACL-Loans$29,256 100.0 %100.0 %$29,007 100.0 %100.0 %

The allocation of the ACL-Loans at June 30, 2025 reflects our assessment of credit risk and probable loss within each portfolio. We believe that the level of the ACL-Loans at June 30, 2025 is appropriate to cover probable losses.

ACL- Unfunded Commitments

The ACL-Unf