Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 152

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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 of commercial lending opportunities outside our market, particularly where we have strong business relationships. Our loan portfolio is the largest category of our earning assets.

Total loans before deferred loan fees and the ACL-Loans were $2.7 billion at September 30, 2025 and $2.7 billion at December 31, 2024. Total gross loans increased $12.3 million as of September 30, 2025 compared to the year ended December 31, 2024.

The following table compares the composition of our loan portfolio for the dates indicated:

(In thousands)At September 30, 2025At December 31, 2024ChangeReal estate loans:Residential$33,625 $42,766 $(9,141)Commercial1,897,896 1,899,134 (1,238)Construction170,888 173,555 (2,667)2,102,409 2,115,455 (13,046)Commercial business552,682 515,125 37,557 Consumer63,098 75,308 (12,210)Total loans$2,718,189 $2,705,888 $12,301 

The following table compares the composition of our commercial real estate loan portfolio by non-owner occupied and owner occupied loans at September 30, 2025 and December 31, 2024:

At September 30, 2025At December 31, 2024ChangeTotal%Total%Total(Dollars in thousands)Commercial real estate loans:Non-owner occupied$1,123,192 59.19 %$1,174,712 61.86 %$(51,520)Owner occupied774,484 40.81 724,203 38.14 50,281 Total commercial real estate loans(1)$1,897,676 100.00 %$1,898,915 100.00 %$(1,239)

(1) Excludes the positive fair value effect of the portfolio layer swap of $220 thousand and the positive fair value effective of the portfolio layer swap of $219 thousand for Commercial Real Estate at September 30, 2025 and December 31, 2024, respectively.

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The following table compares the composition of our commercial real estate loan portfolio by property type, and collateral location as of September 30, 2025:

Commercial Real