Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 137

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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 (88,211)Construction188,339 173,555 14,784 2,039,351 2,115,455 (76,104)Commercial business529,000 515,125 13,875 Consumer76,552 75,308 1,244 Total loans$2,644,903 $2,705,888 $(60,985)

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

At March 31, 2025At December 31, 2024ChangeTotal%Total%Total(Dollars in thousands)Commercial real estate loans:Non-owner occupied$1,121,307 61.93 %$1,174,712 61.86 %$(53,405)Owner occupied689,268 38.07 724,203 38.14 (34,935)Total commercial real estate loans(1)$1,810,575 100.00 %$1,898,915 100.00 %$(88,340)

(1) Excludes the positive fair value effect of the portfolio layer swap of $348 thousand and the positive fair value effect of the portfolio layer swap of $219 thousand for Commercial Real Estate at March 31, 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 March 31, 2025:

Commercial Real EstateCTAll Other NYNYCNJFLOHPAAll OtherTotal(1)(Dollars in thousands)Residential care(2)$— $64,739 $58,165 $14,913 $284,419 $62,283 $22,757 $135,025 $642,301 Retail101,121 82,830 7,337 15,587 8,399 3,396 33,660 83,412 335,742 Multifamily143,579 30,964 50,124 7,091 — — 21,818 — 253,576 Office 57,339 10,175 2,976 29,416 2,219 — — 58,