Company: BWFG
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001505732-25-000089
Chunk: 105

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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202430-59 Days Past Due60-89 Days Past Due90 Days or Greater Past DueTotal Past DueCurrentTotal Loans(In thousands)Real estate loans:Residential real estate$130 $226 $652 $1,008 $41,758 $42,766 Commercial real estate359 — 35,585 35,944 1,863,190 1,899,134 Construction— — — — 173,555 173,555 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 March 31, 2025 or  December 31, 2024. 

24

Loans on nonaccrual statusThe following is a summary of nonaccrual loans by portfolio segment as of March 31, 2025 and December 31, 2024:March 31, 2025December 31, 2024(In thousands)Residential real estate$812 $791 Commercial real estate17,945 44,814 Commercial business7,626 7,672 Construction— — Consumer— — Total$26,383 $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 three months ended March 31, 2025 and 2024 was $0.6 million and $0.9 million, respectively. At March 31, 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 $26.4 million and $53.3 million at March 31, 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