Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 162

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 162
---
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 — — 58,253 160,378 Industrial / warehouse68,522 14,148 19,509 16,970 2,696 — — 15,244 137,089 Mixed use42,021 1,107 49,676 — — — — — 92,804 Medical office40,763 12,194 1,396 — — 4,764 3,900 20,111 83,128 1-4 family investment11,516 6,080 1,873 2,126 17,097 — — — 38,692 All other(3)19,930 23,937 22,998 — — — — — 66,865 $484,791 $246,174 $214,054 $86,103 $314,830 $70,443 $82,135 $312,045 $1,810,575 

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

(2) Primarily consists of skilled nursing and assisted living facilities. 

(3) Includes Special use, self storage, and land.

As of March 31, 2025, the Bank had $160.4 million of loans collateralized by offices, which represented 8.9% of the total loan portfolio. Most of the properties in this portfolio are in suburban locations. 96.6% of this portfolio was pass rated, and there were two relationships totaling $5.5 million on nonaccrual status. We also performed an additional review of our multifamily exposure. As of March 31, 2025, we had $253.6 million of loans collateralized by multifamily properties, which represented