Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 106

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 to be inaccurate, the client may hold a 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 nine months ended September 30, 2025 and 2024, by portfolio segment:Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal(In thousands)Three Months Ended September 30, 2025Beginning balance$65 $19,292 $2,904 $5,526 $1,469 $29,256 Charge-offs— — — (14)(46)(60)Recoveries— 270 — 86 12 368 (Credit) provision for credit losses(7)776 (356)174 (167)420 Ending balance$58 $20,338 $2,548 $5,772 $1,268 $29,984 Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal(In thousands)Three Months Ended September 30, 2024Beginning balance$123 $22,473 $2,272 $10,647 $568 $36,083 Charge-offs— (8,184)(616)(7,010)(17)(15,827)Recoveries— 1,013 — (34)1 980 (Credit) provision for credit losses(21)6,676 (51)(83)(5)6,516 Ending balance$102 $21,978 $1,605 $3,520 $547 $27,