Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 184

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 184
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 capacity of the borrower to adequately service the debt, any credit enhancements or additional sources of repayment, and the quality, value and coverage of the collateral, if any. The following table presents credit risk ratings as of September 30, 2025 and December 31, 2024:

Credit Risk Ratings September 30, 2025December 31, 2024(In thousands)Pass$2,609,200 $2,557,136 Special Mention(1)89,630 93,214 Substandard19,359 54,083 Doubtful— 1,455 Loss— — Total loans$2,718,189 $2,705,888 

(1) 99.9% and 99.6% of Risk Rated 6 loans are current on payments, 97.7% and 93.0% are guaranteed by ultra-high net worth sponsors as of September 30, 2025 and December 31, 2024, respectively.

Credit risk management involves a partnership between our relationship managers and our credit approval, portfolio management, credit administration and collections teams. Disciplined underwriting, portfolio monitoring and early problem recognition are important aspects of maintaining our high credit quality standards.

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Nonperforming assets. Nonperforming assets include nonaccrual loans and property acquired through foreclosures or repossession. The following table presents nonperforming assets and additional asset quality data for the dates indicated:

(In thousands)At September 30, 2025At December 31, 2024Nonaccrual loans:Real estate loans:Residential$570 $791 Commercial14,667 44,814 Commercial business1,729 7,672 Construction— — Consumer— — Total nonaccrual loans16,966 53,277 Other real estate owned1,284 8,299 Total nonperforming assets$18,250 $61,576 Nonperforming assets to total assets0.56 %1.88 %Nonaccrual loans to total loans0.62 %1.97 %ACL-loans as a % of total loans1.10 %1.07 %ACL-loans as a % of nonperforming loans176.73 %54.45 %Total past due loans to total loans0.76 %1.63 %

Nonaccrual loans totaled $17