Company: BWFG
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001505732-25-000126
Chunk: 103

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 property with a value that is insufficient to assure full repayment through sale or refinance. Construction loans also expose the Company to the risks that improvements will not be completed on time in accordance with specifications and projected costs and that repayment will depend on the successful operation or sale of the properties, which may cause some clients to be unable to continue paying debt service, which exposes the Company to greater risk of non-payment and loss.Commercial Business: This portfolio segment includes commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners. Commercial business loans generally have higher interest rates and shorter terms than other loans, and their repayment generally depends on the successful operation of the client’s business. Consumer: This portfolio segment includes loans to finance insurance premiums secured by the cash surrender value of life insurance and marketable securities, overdraft lines of credit, and unsecured personal loans to high net worth individuals.  

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ACL-LoansThe following tables set forth the activity in the Company’s ACL-Loans for the three and six months ended June 30, 2025 and 2024, by portfolio segment:Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal(In thousands)Three Months Ended June 30, 2025Beginning balance$87 $20,562 $2,216 $5,244 $1,376 $29,485 Charge-offs— — — (15)(5)(20)Recoveries— — — 112 10 122 (Credit) provision for credit losses(22)(1,270)688 185 88 (331)Ending balance$65 $19,292 $2,904 $5,526 $1,469 $29,256 Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal(In thousands)Three Months Ended June 30, 2024Beginning balance$133 $21,666 $1,543 $4,078 $571 $27,991 Charge-offs(9)(522)— — (12)(543)Recoveries141 113 — — 13 267 (Credit) provision for credit losses(142)1,216 729 6,569 (4)8,368 Ending balance$123 $22,473 $2,272 $10,647 $568 $36,083 

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Residential Real EstateCommercial Real EstateConstructionCommercial