Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 40

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
— — — Commercial business— 8,516 — 878 Construction— 9,382 — — Consumer— — — — Total individually evaluated loans with a valuation allowance— 17,898 — 878 Total individually evaluated loans$67,839 $115,408 $564 $2,083 

29

Average Carrying AmountInterest Income RecognizedSix Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Individually evaluated loans without a valuation allowance:Residential real estate$3,025 $3,656 $103 $85 Commercial real estate17,766 57,247 129 1,094 Commercial business7,322 12,745 70 618 Construction— — — — Consumer47,369 25,840 775 736 Total individually evaluated loans without a valuation allowance75,482 99,488 1,077 2,533 Individually evaluated loans with a valuation allowance:Residential real estate$— $— $— $— Commercial real estate— — — — Commercial business— 8,607 — 1,039 Construction— 9,382 — — Consumer— — — — Total individually evaluated loans with a valuation allowance— 17,989 — 1,039 Total individually evaluated loans$75,482 $117,477 $1,077 $3,572 Loan ModificationsA loan will be considered modified as defined by ASC 326 when both of the following conditions are met: 1) the borrower is experiencing financial difficulties and 2) the modification constitutes a direct change in contractual cash flows for a significant period of time. Modified terms are dependent upon the financial position and needs of the individual borrower. There were no new loan modifications reportable under ASC 326 at June 30, 2025. There was one new loan modification reportable under ASC 326 for $4.0 million at December 31, 2024. There were no nonaccrual modified loans at June 30, 2025. There was one nonaccrual modified loan at December 31, 2024. There were no loans modified that re-defaulted at June 30, 2025 and December 31, 2024