Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 38

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 173,555 Commercial business4 11 7,143 7,158 507,967 515,125 Consumer— — — — 75,308 75,308 Total loans$493 $237 $43,380 $44,110 $2,661,778 $2,705,888 There were no loans delinquent greater than 90 days and still accruing interest as of June 30, 2025 or  December 31, 2024. 

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Loans on nonaccrual statusThe following is a summary of nonaccrual loans by portfolio segment as of June 30, 2025 and December 31, 2024:June 30, 2025December 31, 2024(In thousands)Residential real estate$617 $791 Commercial real estate16,387 44,814 Commercial business6,871 7,672 Construction— — Consumer— — Total$23,875 $53,277 Interest income on loans that would have been recognized if loans on nonaccrual status had been current in accordance with their original terms for the six months ended June 30, 2025 and 2024 was $1.1 million and $1.2 million, respectively. At June 30, 2025 and December 31, 2024, there were no commitments to lend additional funds to any borrower on nonaccrual status. Nonaccrual loans with no specific reserve totaled $23.9 million and $53.3 million at June 30, 2025 and December 31, 2024, respectively, as these loans were deemed to be adequately collateralized.Individually evaluated loansAn individually evaluated loan is generally one for which it is probable, based on current information, that the Company will not collect all the amounts due in accordance with the contractual terms of the loan. Individually evaluated loans are individually evaluated for credit losses. The Company also individually evaluates all insurance premium loans within the Consumer portfolio segment, irrespective of credit risk ratings.

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The following table summarizes individually evaluated loans by portfolio segment as of June 30, 2025 and December 31, 2024. Carrying AmountUnpaid Principal BalanceAssociated ACL-LoansJune 30, 2025December 31, 2024June 30, 2025December 31, 202