Company: BWFG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001505732-25-000162
Chunk: 186

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 186
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 as incurred. Partially charged-off loans continue to be evaluated on a monthly basis and additional charge-offs or provisions for credit losses may be recorded on the remaining loan balance based on the same criteria.

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The following table presents the activity in our ACL-Loans and related ratios for the dates indicated:

Three Months EndedSeptember 30,Nine Months Ended September 30,(Dollars in thousands)2025202420252024Balance at beginning of period$29,256 $36,083 $29,007 $27,946 Charge-offs:Residential real estate— — — (141)Commercial real estate— (8,184)(67)(12,012)Commercial business(14)(7,010)(29)(7,207)Consumer(46)(17)(84)(78)Construction— (616)— (616)Total charge-offs(60)(15,827)(180)(20,054)Recoveries:Residential real estate— — — 141 Commercial real estate270 1,013 270 1,126 Commercial business86 (34)202 (7)Consumer12 1 58 18 Construction— — — — Total recoveries368 980 530 1,278 Net recoveries (charge-offs)308 (14,847)350 (18,776)(Credit) provision for credit losses - loans420 6,516 627 18,582 Balance at end of period$29,984 $27,752 $29,984 $27,752 Net (recoveries) charge-offs to average loans(0.01)%0.56 %(0.01)%0.70 %ACL-Loans to total loans1.10 %1.06 %1.10 %1.06 %

At September 30, 2025, our ACL-Loans was $30.0 million and represented 1.10% of total gross loans, compared to $29.0 million or 1.07% of total gross loans, at December 31, 2024.

The following table presents the allocation of the ACL-Loans balance and the related allocation percentage of these loans across the total loan portfolio:

September 30, 2025December 31, 2024(Dollars in thousands)ACL-Loans AmountACL-Loans PercentageLoan Segment to Total