Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 97

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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$87 $20,562 $2,216 $5,244 $1,376 $29,485 Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal(In thousands)Three Months Ended March 31, 2024Beginning Balance$149 $20,950 $1,699 $4,562 $586 $27,946 Charge-offs(132)(3,306)— (197)(49)(3,684)Recoveries— — — 27 4 31 Provision (credit)  for credit losses116 4,022 (156)(314)30 3,698 Ending balance$133 $21,666 $1,543 $4,078 $571 $27,991 We evaluate whether a modification, extension or renewal of a loan is a current period origination in accordance with GAAP. Generally, loans up for renewal are subject to a full credit evaluation before the renewal is granted and such loans are considered current period originations for purpose of the tables below. The following tables present loans by origination and risk designation as of  March 31, 2025 and December 31, 2024 (dollars in thousands):

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Term LoansAmortized Cost Balances by Origination Year as of March 31, 202520252024202320222021PriorTotalResidential Real Estate LoansPass$— $— $— $— $— $36,910 $36,910 Special Mention— — — — — 302 302 Substandard— — — — — 3,072 3,072 Doubtful— — — — — — — Total Residential Real Estate Loans$— $— $— $— $— $40,284 $40,284 Residential Real Estate charge-off Current period charge-offs$— $— $— $— $— $— $— Commercial Real Estate LoansPass$32,293 $130,025 $116,020 $585,298 $230,700 $569,711 $1,664,047 Special Mention— 21,845 — 100,171 10,582 2,184 134,782 Substandard— —