Bankwell sells $35.4M of nonperforming assets, recovering full value in two transactions

Bankwell Financial Group, Inc.

Sold OREO property for $8.3M, net proceeds equal to acquisition cost; property secured non-performing construction loan.
Sold $27.1M multifamily commercial real estate loan; received full principal plus all past due interest and late fees.
Combined $35.4M disposed assets represent 108 bps of total assets; NPAs were 1.88% at Dec 31, 2024.

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