Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 34

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 by Company personnel, normal renewal activity, monthly delinquency monitoring, and the quarterly watchlist and watched asset report process. They are revised to reflect changes in the borrower's financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage, as well as other considerations. In addition to internal review at multiple points, outsourced loan review opines on risk ratings with regard to the sample of loans their review covers.The following tables present credit risk ratings by loan segment as of March 31, 2025 and December 31, 2024:Commercial Credit Quality IndicatorsMarch 31, 2025December 31, 2024Commercial Real EstateConstructionCommercial BusinessTotalCommercial Real EstateConstructionCommercial BusinessTotal(In thousands)Pass$1,659,164 $169,105 $511,560 $2,339,829 $1,767,482 $173,555 $501,432 $2,442,469 Special Mention133,813 19,234 9,814 162,861 86,838 — 6,020 92,858 Substandard16,552 — 7,584 24,136 43,413 — 7,619 51,032 Doubtful1,394 — 42 1,436 1,401 — 54 1,455 Loss— — — — — — — — Total loans$1,810,923 $188,339 $529,000 $2,528,262 $1,899,134 $173,555 $515,125 $2,587,814 Residential and Consumer Credit Quality IndicatorsMarch 31, 2025December 31, 2024Residential Real EstateConsumerTotalResidential Real EstateConsumerTotal(In thousands)Pass$36,736 $76,552 $113,288 $39,359 $75,308 $114,667 Special Mention297 — 297 356 — 356 Substandard3,056 — 3,056 3,051 — 3,051 Doubtful— — — — — — Loss— — — — — — Total loans$40,089 $76,552 $116,641 $42,766