Bankwell Financial (BWFG) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-36448
Entity Registrant Name	Bankwell Financial Group, Inc.
Entity Incorporation, State	CT
Entity Tax Identification Number	20-8251355
Entity Address, Street	258 Elm Street
Entity Address, City	New Canaan
Entity Address, State	CT
Entity Address, Postal Zip Code	06840
City Area Code	203
Local Phone Number	652-0166
Title of Each Class	Common Stock, no par value pershare
Trading Symbol(s)	BWFG
Name of Each Exchange on Which Registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,842,824
Entity Central Index Key	0001505732
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets - (

Consolidated Balance Sheets - (unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 297,851	$ 405,340
Federal funds sold	4,036	4,258
Cash and cash equivalents	301,887	409,598
Investment securities
Marketable equity securities, at fair value	2,192	2,207
Available for sale investment securities, at fair value	90,983	88,605
Held to maturity investment securities, at amortized cost (fair values of $18,634 and $20,032 at June 30, 2021 and December 31, 2020, respectively)	16,166	16,078
Total investment securities	109,341	106,890
Loans receivable (net of allowance for loan losses of $16,672 at June 30, 2021 and $21,009 at December 31, 2020)	1,719,274	1,601,672
Accrued interest receivable	6,661	6,579
Federal Home Loan Bank stock, at cost	3,844	7,860
Premises and equipment, net	33,916	21,762
Bank-owned life insurance	48,632	42,651
Goodwill	2,589	2,589
Other intangible assets	58	76
Deferred income taxes, net	8,208	11,300
Other assets	35,415	42,770
Total assets	2,269,825	2,253,747
Deposits
Noninterest bearing deposits	328,473	270,235
Interest bearing deposits	1,610,829	1,557,081
Total deposits	1,939,302	1,827,316
Advances from the Federal Home Loan Bank	75,000	175,000
Subordinated debentures (face value of $15,500 and $25,500 at June 30, 2021 and December 31, 2020, respectively, less unamortized debt issuance costs of $134 and $242 at June 30, 2021 and December 31, 2020, respectively)	15,366	25,258
Accrued expenses and other liabilities	49,362	49,571
Total liabilities	2,079,030	2,077,145
Commitments and contingencies
Shareholders' equity
Common stock, no par value; 10,000,000 shares authorized, 7,895,101 and 7,919,278 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	120,451	121,338
Retained earnings	80,543	70,839
Accumulated other comprehensive loss	(10,199)	(15,575)
Total shareholders' equity	190,795	176,602
Total liabilities and shareholders' equity	$ 2,269,825	$ 2,253,747

Consolidated Balance Sheets -_2

Consolidated Balance Sheets - (unaudited) (Parenthetical) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Held to maturity investment securities, fair value	$ 18,634,000	$ 20,032,000
Allowance for loan losses	$ 16,672,000	$ 21,009,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (shares)	10,000,000	10,000,000
Common stock, shares issued (shares)	7,895,101	7,919,278
Common stock, shares outstanding (shares)	7,895,101	7,919,278
Subordinated debentures
Debt instrument face value of debt	$ 15,500,000	$ 25,500,000
Unamortized debt issuance costs	$ 134,000	$ 242,000

Consolidated Statements of Inco

Consolidated Statements of Income – (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest and dividend income
Interest and fees on loans	$ 19,266	$ 18,459	$ 37,166	$ 37,444
Interest and dividends on securities	736	778	1,505	1,603
Interest on cash and cash equivalents	90	86	198	372
Total interest and dividend income	20,092	19,323	38,869	39,419
Interest expense
Interest expense on deposits	2,744	4,810	5,858	10,519
Interest expense on borrowings	769	876	1,777	1,977
Total interest expense	3,513	5,686	7,635	12,496
Net interest income	16,579	13,637	31,234	26,923
(Credit) provision for loan losses	(20)	2,999	(316)	6,184
Net interest income after (credit) provision for loan losses	16,599	10,638	31,550	20,739
Noninterest income
Gains and fees from sales of loans	814	0	1,327	0
Bank-owned life insurance	251	241	482	484
Service charges and fees	217	171	416	388
Other	158	165	1,170	777
Total noninterest income	1,440	577	3,395	1,649
Noninterest expense
Salaries and employee benefits	3,960	5,227	8,729	10,607
Occupancy and equipment	3,250	2,235	5,656	4,144
Data processing	833	493	1,345	1,029
Professional services	547	434	1,134	1,145
Director fees	327	287	644	582
FDIC insurance	300	283	703	353
Marketing	140	199	131	361
Other	695	564	1,348	1,160
Total noninterest expense	10,052	9,722	19,690	19,381
Income before income tax expense	7,987	1,493	15,255	3,007
Income tax expense	1,759	279	3,338	430
Net income	$ 6,228	$ 1,214	$ 11,917	$ 2,577
Earnings Per Common Share:
Basic (in dollars per share)	$ 0.79	$ 0.16	$ 1.51	$ 0.33
Diluted (in dollars per share)	$ 0.79	$ 0.16	$ 1.50	$ 0.33
Weighted Average Common Shares Outstanding:
Basic (in shares)	7,722,481	7,715,094	7,744,368	7,732,615
Diluted (in shares)	7,768,026	7,715,295	7,792,600	7,748,104
Dividends per common share (in dollars per share)	$ 0.14	$ 0.14	$ 0.28	$ 0.28

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) – (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 6,228	$ 1,214	$ 11,917	$ 2,577
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) on available for sale securities	693	534	(332)	2,758
Reclassification adjustment for gain realized in net income	0	0	0	0
Net change in unrealized gains (losses)	693	534	(332)	2,758
Income tax (expense) benefit	(157)	(116)	70	(610)
Unrealized gains (losses) on securities, net of tax	536	418	(262)	2,148
Unrealized (losses) gains on interest rate swaps:
Unrealized (losses) gains on interest rate swaps	(3,699)	(1,044)	7,235	(18,470)
Income tax benefit (expense)	837	227	(1,597)	4,105
Unrealized (losses) gains on interest rate swaps, net of tax	(2,862)	(817)	5,638	(14,365)
Total other comprehensive (loss) income, net of tax	(2,326)	(399)	5,376	(12,217)
Comprehensive income (loss)	$ 3,902	$ 815	$ 17,293	$ (9,640)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity – (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2019	$ 182,397	$ 120,589	$ 69,324	$ (7,516)
Beginning balance (in shares) at Dec. 31, 2019		7,868,803
Increase (Decrease) in Stockholders' Equity
Net income	2,577		2,577
Other comprehensive income (loss), net of tax	(12,217)			(12,217)
Cash dividends declared	(2,189)		(2,189)
Stock-based compensation expense	813	$ 813
Forfeitures of restricted stock (in shares)		(1,500)
Issuance of restricted stock (in shares)		77,199
Stock options exercised	16	$ 16
Stock options exercised (in shares)		1,500
Repurchase of common stock	(1,037)	$ (1,037)
Repurchase of common stock (in shares)		(58,499)
Ending balance at Jun. 30, 2020	170,360	$ 120,381	69,712	(19,733)
Ending balance (in shares) at Jun. 30, 2020		7,887,503
Beginning balance at Dec. 31, 2019	182,397	$ 120,589	69,324	(7,516)
Beginning balance (in shares) at Dec. 31, 2019		7,868,803
Increase (Decrease) in Stockholders' Equity
Repurchase of common stock (in shares)		(58,499)
Ending balance at Dec. 31, 2020	176,602	$ 121,338	70,839	(15,575)
Ending balance (in shares) at Dec. 31, 2020		7,919,278
Beginning balance at Mar. 31, 2020	170,214	$ 119,953	69,595	(19,334)
Beginning balance (in shares) at Mar. 31, 2020		7,871,419
Increase (Decrease) in Stockholders' Equity
Net income	1,214		1,214
Other comprehensive income (loss), net of tax	(399)			(399)
Cash dividends declared	(1,097)		(1,097)
Stock-based compensation expense	428	$ 428
Forfeitures of restricted stock (in shares)		(75)
Issuance of restricted stock (in shares)		16,159
Ending balance at Jun. 30, 2020	170,360	$ 120,381	69,712	(19,733)
Ending balance (in shares) at Jun. 30, 2020		7,887,503
Beginning balance at Dec. 31, 2020	176,602	$ 121,338	70,839	(15,575)
Beginning balance (in shares) at Dec. 31, 2020		7,919,278
Increase (Decrease) in Stockholders' Equity
Net income	11,917		11,917
Other comprehensive income (loss), net of tax	5,376			5,376
Cash dividends declared	(2,213)		(2,213)
Stock-based compensation expense	856	$ 856
Forfeitures of restricted stock (in shares)		(150)
Issuance of restricted stock (in shares)		51,628
Stock options exercised	53	$ 53
Stock options exercised (in shares)		3,500
Repurchase of common stock	(1,796)	$ (1,796)
Repurchase of common stock (in shares)		(79,155)
Ending balance at Jun. 30, 2021	190,795	$ 120,451	80,543	(10,199)
Ending balance (in shares) at Jun. 30, 2021		7,895,101
Beginning balance at Mar. 31, 2021	187,943	$ 120,398	75,418	(7,873)
Beginning balance (in shares) at Mar. 31, 2021		7,908,630
Increase (Decrease) in Stockholders' Equity
Net income	6,228		6,228
Other comprehensive income (loss), net of tax	(2,326)			(2,326)
Cash dividends declared	(1,103)		(1,103)
Stock-based compensation expense	424	$ 424
Repurchase of common stock	(371)	$ (371)
Repurchase of common stock (in shares)		(13,529)
Ending balance at Jun. 30, 2021	$ 190,795	$ 120,451	$ 80,543	$ (10,199)
Ending balance (in shares) at Jun. 30, 2021		7,895,101

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity – (unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.14	$ 0.14	$ 0.28	$ 0.28

Consolidated Statements of Cash

Consolidated Statements of Cash Flows – (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income	$ 11,917	$ 2,577
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net amortization of premiums and discounts on investment securities	93	29
(Credit) provision for loan losses	(316)	6,184
Provision (credit) for deferred income taxes	1,566	(2,125)
Change in fair value of marketable equity securities	28	(58)
Depreciation and amortization	1,833	1,678
Amortization of debt issuance costs	108	26
Change in valuation allowance of right-of-use asset	(29)	0
Increase in cash surrender value of bank-owned life insurance	(482)	(484)
Gains and fees from sales of loans	(1,327)	0
Stock-based compensation	856	813
Amortization of intangibles	18	36
Loss on sale of premises and equipment	6	0
Net change in:
Deferred loan fees	(399)	1,872
Accrued interest receivable	(82)	(815)
Other assets	5,909	(20,575)
Accrued expenses and other liabilities	(1,365)	(1,854)
Net cash provided by (used in) operating activities	18,334	(12,696)
Cash flows from investing activities
Proceeds from principal repayments on available for sale securities	8,840	5,844
Proceeds from principal repayments on held to maturity securities	4,653	116
Net proceeds from sales and calls of available for sale securities	0	1,100
Purchases of marketable equity securities	(13)	(19)
Purchases of available for sale securities	(11,648)	(4,000)
Purchases of held to maturity securities	(4,736)	0
Purchases of bank-owned life insurance	(5,500)	0
Net increase in loans	(116,887)	(10,391)
Loan principal sold from loans not originated for sale	(10,380)	0
Proceeds from sales of loans not originated for sale	11,707	0
Purchases of premises and equipment, net	(4,127)	(230)
Reduction (purchase) of Federal Home Loan Bank stock	4,016	(360)
Net cash used in investing activities	(124,075)	(7,940)
Cash flows from financing activities
Net change in time certificates of deposit	(140,985)	45,442
Net change in other deposits	252,971	82,619
Net change in FHLB advances	(100,000)	25,000
Repayment of subordinated debt	(10,000)	0
Proceeds from exercise of options	53	16
Dividends paid on common stock	(2,213)	(2,189)
Repurchase of common stock	(1,796)	(1,037)
Net cash (used in) provided by financing activities	(1,970)	149,851
Net (decrease) increase in cash and cash equivalents	(107,711)	129,215
Cash and cash equivalents:
Beginning of year	409,598	78,051
End of period	301,887	207,266
Cash paid for:
Interest	3,497	12,872
Income taxes	2,938	941
Loans transferred to other real estate owned	0	180
Noncash investing and financing activities:
Net change in unrealized gains or losses on available for sale securities	(332)	2,758
Net change in unrealized gains or losses on interest rate swaps	7,235	(18,470)
Establishment of right-of-use asset and lease liability	$ 9,837	$ 103

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Bankwell Financial Group, Inc. (the "Parent Corporation") is a bank holding company headquartered in New Canaan, Connecticut. The Parent Corporation offers a broad range of financial services through its banking subsidiary, Bankwell Bank (the "Bank" and, collectively with the Parent Corporation and the Parent Corporation's subsidiaries, the "Company"). The Bank is a Connecticut state chartered commercial bank, founded in 2002, whose deposits are insured under the Deposit Insurance Fund administered by the Federal Deposit Insurance Corporation (“FDIC”). The Bank provides a wide range of services to customers in our primary market, an area encompassing approximately a 100 mile radius around our branch network. In addition, the Bank pursues certain types of commercial lending opportunities outside our primary market, particularly where we have strong relationships. The Bank operates branches in New Canaan, Stamford, Fairfield, Wilton, Westport, Darien, Norwalk, and Hamden Connecticut. Principles of consolidation The consolidated financial statements include the accounts of the Company and the Bank, including its wholly owned passive investment company subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the consolidated balance sheet, and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, the valuation of derivative instruments, investment securities valuation, evaluation of investment securities for other than temporary impairment and deferred income taxes valuation. The COVID-19 pandemic has resulted in significant economic disruption affecting our business and the clients we serve. As vaccination efforts continue, restrictions on businesses have been lifted and a return to more normal economic activity has begun. However, a significant degree of uncertainty still exists concerning the ultimate duration and magnitude of the COVID-19 pandemic and subsequent outbreaks, including whether restrictions that have been lifted will need to be imposed again or tightened in the future. Given the ongoing and dynamic nature of the circumstances, it is still difficult to predict the full impact of the COVID-19 pandemic on our business. The extent of such impact will depend on future developments, including but not limited to the continued roll-out of vaccinations, which play an important role as to when the coronavirus can be controlled and abated. Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2021. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2020. Significant concentrations of credit risk Many of the Company's activities are with customers located in Connecticut, with the majority of the Company's loans in Fairfield and New Haven Counties and some New York metro area counties, and declines in property values in these areas could significantly impact the Company. The Company has significant concentrations in commercial real estate loans. Common Share Repurchases The Company is incorporated in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized, but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances. Reclassification Certain prior period amounts may be reclassified to conform to the 2021 financial statement presentation. These reclassifications only change the reporting categories and do not affect the consolidated results of operations or consolidated financial position of the Company. Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. Recently issued accounting pronouncements not yet adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” This ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. On July 17, 2019, the FASB proposed deferring the effective date of ASC 326 for smaller reporting companies as defined by the SEC. The FASB proposed a three year deferral for smaller reporting companies, with an effective date of January 1, 2023. On October 16, 2019, the FASB voted in favor of finalizing its proposal to defer the effective date of this standard. The FASB issued ASU No. 2019-10, which officially delayed the adoption of this standard for smaller reporting companies until fiscal years beginning after December 15, 2022. The Company does qualify to defer the adoption of this standard and has not yet adopted this standard. Management continues to evaluate the impact of its future adoption of this guidance on the Company’s financial statements. ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This ASU simplifies the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity was required to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, this ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. On October 16, 2019, the FASB voted in favor of a proposal to defer the effective date of this standard in the same manner it is deferring the effective date of ASC 326. The FASB issued ASU No. 2019-10, which officially delayed the adoption of this standard for smaller reporting companies until fiscal years beginning after December 15, 2022. The Company does qualify to defer the adoption of this standard and has not yet adopted this standard. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. Recently adopted accounting pronouncements ASU No. 2020-04, Reference Rate Reform (Topic 848): "Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This ASU provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. Optional expedients include that modifications of contracts should be accounted for by prospectively adjusting the effective interest rate and modifications of leases should be accounted for as a continuation of the

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at June 30, 2021 were as follows: June 30, 2021 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 9,989 $ 81 $ — $ 10,070 Due from one through five years 10,629 — (19) 10,610 Due from five through ten years 7,949 713 — 8,662 Due after ten years 46,717 1,875 (24) 48,568 Total U.S. Government and agency obligations 75,284 2,669 (43) 77,910 Corporate bonds Due from one through five years 1,000 8 — 1,008 Due from five through ten years 10,000 464 — 10,464 Due after ten years 1,500 101 — 1,601 Total corporate bonds 12,500 573 — 13,073 Total available for sale securities $ 87,784 $ 3,242 $ (43) $ 90,983 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,114 $ 2,682 $ (223) $ 18,573 Government-sponsored mortgage backed securities No contractual maturity 52 9 — 61 Total held to maturity securities $ 16,166 $ 2,691 $ (223) $ 18,634 The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at December 31, 2020 were as follows: December 31, 2020 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 9,976 $ 172 $ — $ 10,148 Due from five through ten years 8,038 848 — 8,886 Due after ten years 55,560 2,284 — 57,844 Total U.S. Government and agency obligations 73,574 3,304 — 76,878 Corporate bonds Due from one through five years 4,000 57 — 4,057 Due from five through ten years 6,000 163 — 6,163 Due after ten years 1,500 7 — 1,507 Total corporate bonds 11,500 227 — 11,727 Total available for sale securities $ 85,074 $ 3,531 $ — $ 88,605 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,018 $ 3,944 $ — $ 19,962 Government-sponsored mortgage backed securities No contractual maturity 60 10 — 70 Total held to maturity securities $ 16,078 $ 3,954 $ — $ 20,032 There were no sales of investment securities during the three or six months ended June 30, 2021 or 2020. At June 30, 2021 and December 31, 2020, none of the Company's securities were pledged as collateral with the Federal Home Loan Bank ("FHLB") or any other institution. As of June 30, 2021 and December 31, 2020, the actual durations of the Company's available for sale securities were significantly shorter than the stated maturities. As of June 30, 2021, the Company held marketable equity securities with a fair value of $2.2 million and an amortized cost of $2.1 million. At December 31, 2020, the Company held marketable equity securities with a fair value of $2.2 million and an amortized cost of $2.1 million. These securities represent an investment in mutual funds that have an objective to make investments for CRA purposes. There were no investment securities as of December 31, 2020, in which the fair value of the security was less than the amortized cost of the security. The following table provides information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2021: Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Value Unrealized Percent Fair Value Unrealized Percent Fair Value Unrealized Percent (Dollars in thousands) June 30, 2021 U.S. Government and agency obligations $ 18,761 $ (43) 0.23 % $ — $ — — % $ 18,761 $ (43) 0.23 % State agency and municipal obligations 4,457 (223) 4.76 — — — 4,457 (223) 4.76 Total investment securities $ 23,218 $ (266) 1.13 % $ — $ — — % $ 23,218 $ (266) 1.13 % There were three investment securities as of June 30, 2021, in which the fair value of the security was less than the amortized cost of the security. The U.S. Government and agency obligations owned are either direct obligations of the U.S. Government or guaranteed by the U.S. Government, therefore the contractual cash flows are guaranteed and as a result the unrealized losses in this portfolio are considered to be only temporarily impaired. The Company continually monitors its state agency and municipal bond portfolios and at this time these portfolios have minimal default risk because state agency and municipal bonds are all rated investment grade or deemed to be of investment grade quality. The Company has the intent and ability to retain its investment securities in an unrealized loss position at June 30, 2021 until the decline in value has recovered or the security has matured.

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans Receivable and Allowance for Loan Losses	Loans Receivable and Allowance for Loan Losses The following table sets forth a summary of the loan portfolio at June 30, 2021 and December 31, 2020: (In thousands) June 30, 2021 December 31, 2020 Real estate loans: Residential $ 100,260 $ 113,557 Commercial 1,266,731 1,148,383 Construction 82,805 87,007 1,449,796 1,348,947 Commercial business (1) 279,814 276,601 Consumer 8,883 79 Total loans 1,738,493 1,625,627 Allowance for loan losses (16,672) (21,009) Deferred loan origination fees, net (2,547) (2,946) Loans receivable, net $ 1,719,274 $ 1,601,672 (1) The June 30, 2021 and December 31, 2020 balance includes $7.9 million and $34.8 million, respectively, of Paycheck Protection Program ("PPP") loans made under the CARES Act. Lending activities consist of commercial real estate loans, commercial business loans and, to a lesser degree, a variety of consumer loans. Loans may also be granted for the construction of commercial properties. The majority of commercial mortgage loans are collateralized by first or second mortgages on real estate. Risk management The Company has established credit policies applicable to each type of lending activity in which it engages. The Company evaluates the creditworthiness of each customer and extends credit of up to 80% of the market value of the collateral, depending on the borrower's creditworthiness and the type of collateral. The borrower’s ability to service the debt is monitored on an ongoing basis. Real estate is the primary form of collateral. Other important forms of collateral are business assets, time deposits and marketable securities. While collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment for commercial loans to be based on the borrower’s ability to generate continuing cash flows. In the fourth quarter of 2017, management made the strategic decision to cease the origination of residential mortgage loans. At the beginning of the third quarter 2019, the Company no longer offered home equity loans or lines of credit. The Company’s policy for residential lending generally required that the amount of the loan may not exceed 80% of the original appraised value of the property. In certain situations, the amount may have exceeded 80% LTV either with private mortgage insurance being required for that portion of the residential loan in excess of 80% of the appraised value of the property or where secondary financing is provided by a housing authority program second mortgage, a community’s low/moderate income housing program, or a religious or civic organization. Credit quality of loans and the allowance for loan losses Management segregates the loan portfolio into defined segments, which are used to develop and document a systematic method for determining the Company's allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. The Company's loan portfolio is segregated into the following portfolio segments: Residential Real Estate: This portfolio segment consists of first mortgage loans secured by one-to-four family owner occupied residential properties for personal use located in the Company's market area. This segment also includes home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties. Loans of this type were written at a combined maximum of 80% of the appraised value of the property and the Company requires a first or second lien position on the property. These loans can be affected by economic conditions and the values of the underlying properties. Commercial Real Estate: This portfolio segment includes loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate and investor-owned one-to-four family dwellings. Loans secured by commercial real estate generally have larger loan balances and more credit risk than owner occupied one-to-four family mortgage loans. Construction: This portfolio segment includes commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail and other income producing properties and land loans, which are loans made with land as collateral. Construction and land development financing generally involves greater credit risk than long-term financing on improved, owner-occupied or leased real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the value of the property at completion of construction compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction cost proves to be inaccurate, the Company may be required to advance additional funds beyond the amount originally committed in order to protect the value of the property. Moreover, if the estimated value of the completed project proves to be inaccurate, the borrower 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 borrowers 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, but they also have increased difficulty of loan monitoring and a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business. This segment also includes Paycheck Protection Program ("PPP") loans made under the CARES Act to small businesses impacted by COVID-19, to cover payroll and other operating expenses. Loans extended under the PPP are fully guaranteed by the U.S. Small Business Administration ("SBA"). Consumer: This portfolio segment includes loans secured by savings or certificate accounts, automobiles, as well as unsecured personal loans and overdraft lines of credit. This type of loan entails greater risk than residential mortgage loans, particularly in the case of loans that are unsecured or secured by assets that depreciate rapidly. Allowance for loan losses The following tables set forth the activity in the Company’s allowance for loan losses for the three and six months ended June 30, 2021 and 2020, by portfolio segment: Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended June 30, 2021 Beginning balance $ 501 $ 16,259 $ 297 $ 3,452 $ 36 $ 20,545 Charge-offs — (3,814) — (51) (4) (3,869) Recoveries — — — 16 — 16 (Credits) provisions (183) 764 (164) (441) 4 (20) Ending balance $ 318 $ 13,209 $ 133 $ 2,976 $ 36 $ 16,672 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended June 30, 2020 Beginning balance $ 785 $ 13,134 $ 466 $ 2,301 $ — $ 16,686 Charge-offs — — — — (23) (23) Recoveries — — — — — — Provisions (credits) 24 1,275 (25) 1,702 23 2,999 Ending balance $ 809 $ 14,409 $ 441 $ 4,003 $ — $ 19,662 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Six Months Ended June 30, 2021 Beginning balance $ 610 $ 16,425 $ 221 $ 3,753 $ — $ 21,009 Charge-offs — (3,977) — (51) (18) (4,046) Recoveries — — — 16 9 25 (Credits) provisions (292) 761 (88) (742) 45 (316) Ending balance $ 318 $ 13,209 $ 133 $ 2,976 $ 36 $ 16,672 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Six Months Ended June 30, 2020 Beginning balance $ 730 $ 10,551 $ 324 $ 1,903 $ 1 $ 13,509 Charge-offs — — — (8) (25) (33) Recoveries — — — 1 1 2 Provisions 79 3,858 117 2,107 23 6,184 Ending balance $ 809 $ 14,409 $ 441 $ 4,003 $ — $ 19,662 Loans evaluated for impairment and the related allowance for loan losses as of June 30, 2021 and December 31, 2020 were as follows: Portfolio Allowance (In thousands) June 30, 2021 Loans individually evaluated for impairment: Residential real estate $ 4,148 $ — Commercial real estate 31,323 2,785 Construction 8,997 — Commercial business 4,769 3 Subtotal 49,237 2,788 Loans collectively evaluated for impairment: Residential real estate 96,112 318 Commercial real estate 1,235,408 10,424 Construction 73,808 133 Commercial business 275,045 2,973 Consumer 8,883 36 Subtotal 1,689,256 13,884 Total $ 1,738,493 $ 16,672 As of June 30, 2021, $49.2 million of loans were individually evaluated for impairment and $0.3 million of these loans were determined not impaired. Portfolio Allowance (In thousands) December 31, 2020 Loans individually evaluated for impairment: Residential real estate $ 4,604 $ — Commercial real estate 37,579 4,960 Construction 8,997 — Commercial business 6,507 85 Subtotal 57,687 5,045 Loans collectively evaluated for impairment: Residential real estate 108,953 610 Commercial real estate 1,110,804 11,465 Construction 78,010 221 Commercial business 270,094 3,668 Consumer 79 — Subtotal 1,567,940 15,964 Total $ 1,625,627 $ 21,009 As of December 31, 2020, $57.7 million of loans were individually evaluated for impairment and $10.0 million of these loans were determined not impaired. Credit quality indicators To measure credit risk for the loan portfolios, the Company employs a credit risk rating system. This risk rating represents an assessed level of a loan’s risk based on the character and creditworthiness of the borrower/guarantor, the capacity of the borrower to adequately service the debt, any credit enhancements or additional sources of repayment, and the quality, value and coverage of the collateral, if any. The objectives of the Company’s risk rating system are to provide the Board of Directors and senior management with an objective assessment of the overall quality of the loan portfolio, to promptly and accurately identify loans with well-defined credit weaknesses so that timely action can be taken to minimize a potential credit loss, to identify relevant trends affecting the collectability of the loan portfolio, to isolate potential problem areas and to provide essential information for determining the adequacy of the allowance for loan losses. The Company’s credit risk rating system has nine grades, with each grade corresponding to a progressively greater risk of default. Risk ratings of (1) through (5) are "pass" categories and risk ratings of (6) through (9) are criticized asset categories as defined by the regulatory agencies. A “special mention” (6) credit has a potential weakness which, if uncorrected, may result in a deterioration of the repayment prospects or inadequately protect the Company’s credit position at some time in the future. “Substandard” (7) loans are credits that have a well-defined weakness or weaknesses that jeopardize the full repayment of the debt. An asset rated “doubtful” (8) has all the weaknesses inherent in a substandard asset and which, in addition, make collection or liquidation in full highly questionable and improbable when considering existing facts, conditions, and values. Loans classified as “loss” (9) are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value; rather, it is not practical or desirable to defer writing-off this asset even though partial recovery may be made in the future. Risk ratings are assigned as necessary to differentiate risk within the portfolio. They are reviewed on an ongoing basis through the annual loan review process performed by Company personnel, normal renewal activity and the quarterly watchlist and watched asset report process. They are revised to reflect changes in the borrower's financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage, as well as other considerations. In addition to internal review at multiple points, outsourced loan review opines on risk ratings with regard to the sample of loans their review covers. The following tables present credit risk ratings by loan segment as of June 30, 2021 and December 31, 2020: Commercial Credit Quality Indicators June 30, 2021 December 31, 2020 Commercial Real Estate Construction Commercial Business Total Commercial Real Estate Construction Commercial Business Total (In thousands) Pass $ 1,234,017 $ 73,808 $ 273,591 $ 1,581,416 $ 1,105,825 $ 78,010 $ 269,728 $ 1,453,563 Special Mention 1,704 — 1,454 3,158 12,560 — 2,055 14,615 Substandard 30,586 8,997 3,222 42,805 29,998 8,997 3,247 42,242 Doubtful 424 — 1,547 1,971 — — 1,571 1,571 Loss — — — — — — — — Total loans $ 1,266,731 $ 82,805 $ 279,814 $ 1,629,350 $ 1,148,383 $ 87,007 $ 276,601 $ 1,511,991 Residential and Consumer Credit Quality Indicators June 30, 2021 December 31, 2020 Residential Real Estate Consumer Total Residential Real Estate Consumer Total (In thousands) Pass $ 95,407 $ 8,883 $ 104,290 $ 108,953 $ 79 $ 109,032 Special Mention 706 — 706 713 — 713 Substandard 3,972 — 3,972 3,714 — 3,714 Doubtful 175 — 175 177 — 177 Loss — — — — — — Total loans $ 100,260 $ 8,883 $ 109,143 $ 113,557 $ 79 $ 113,636 Loan portfolio aging analysis When a loan is 15 days past due, the Company sends the borrower a late notice. The Company attempts to contact the borrower by phone if the delinquency is not corrected promptly after the notice has been sent. When the loan is 30 days past due, the Company mails the borrower a letter reminding the borrower of the delinquency, and attempts to contact the borrower personally to determine the reason for the delinquency and ensure the borrower understands the terms of the loan. If necessary, after the 90th day of delinquency, the Company may take other appropriate legal action. A summary report of all loans 30 days or more past due is provided to the Board of Directors of the Company periodically. Loans greater than 90 days past due are generally put on nonaccrual status. A nonaccrual loan is restored to accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt. A loan is considered to be no longer delinquent when timely payments are made for a period of at least six months (one year for loans providing for quarterly or semi-annual payments) by the borrower in accordance with the contractual terms. Loans that are granted payment deferrals under the CARES Act are not required to be reported as past due or placed on non-accrual status if the criteria under section 4013 of the CARES Act is met. As of June 30, 2021, no loans remained on active deferral under the CARES Act. The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of June 30, 2021 and December 31, 2020: June 30, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 853 $ — $ 176 $ 1,029 $ 99,231 $ 100,260 Commercial real estate 569 — 15,047 15,616 1,251,115 1,266,731 Construction — — 8,997 8,997 73,808 82,805 Commercial business 169 1,454 1,495 3,118 276,696 279,814 Consumer 3 — — 3 8,880 8,883 Total loans $ 1,594 $ 1,454 $ 25,715 $ 28,763 $ 1,709,730 $ 1,738,493 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 245 $ — $ 177 $ 422 $ 113,135 $ 113,557 Commercial real estate 1,305 193 2,541 4,039 1,144,344 1,148,383 Construction 8,997 — — 8,997 78,010 87,007 Commercial business 45 55 1,526 1,626 274,975 276,601 Consumer — — — — 79 79 Total loans $ 10,592 $ 248 $ 4,244 $ 15,084 $ 1,610,543 $ 1,625,627 There were no loans delinquent greater than 90 days and still accruing interest as of June 30, 2021 and December 31, 2020. Loans on nonaccrual status The following is a summary of nonaccrual loans by portfolio segment as of June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (In thousands) Residential real estate $ 1,160 $ 1,492 Commercial real estate 15,392 21,093 Commercial business 1,780 1,834 Construction 8,997 8,997 Total $ 27,329 $ 33,416 Interest income on loans that would have been recognized if loans on nonaccrual status had been current in accordance with their original terms for the six months ended June 30, 2021 and 2020 was $0.7 million and $0.4 million, respectively. There was no interest income recognized on these loans for the six months ended June 30, 2021 and 2020. At June 30, 2021 and December 31, 2020, there were no commitments to lend additional funds to any borrower on nonaccrual status. Nonaccrual loans with no specific reserve totaled $16.4 million and $17.5 million at June 30, 2021 and December 31, 2020, respectively, as these loans were deemed to be adequately collateralized. Impaired loans An impaired loan is generally one for which it is probable, based on current information, that the Company will not collect all the amounts due in accordance with the contractual terms of the loan. Impaired loans are individually evaluated for impairment. When the Company classifies a problem loan as impaired, it evaluates whether a specific valuation allowance is required for that portion of the asset that is estimated to be impaired. The following table summarizes impaired loans by portfolio segment as of June 30, 2021 and December 31, 2020: Carrying Amount Unpaid Principal Balance Associated Allowance June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,148 $ 3,891 $ 4,314 $ 4,108 $ — $ — Commercial real estate 11,053 8,964 11,401 9,282 — — Construction 8,997 8,997 8,997 8,997 — — Commercial business 4,652 1,899 5,281 2,512 — — Total impaired loans without a valuation allowance 28,850 23,751 29,993 24,899 — — Impaired loans with a valuation allowance: Commercial real estate $ 19,957 $ 21,035 $ 23,809 $ 21,049 $ 2,785 $ 4,960 Commercial business 117 2,920 117 2,922 3 85 Total impaired loans with a valuation allowance 20,074 23,955 23,926 23,971 2,788 5,045 Total impaired loans $ 48,924 $ 47,706 $ 53,919 $ 48,870 $ 2,788 $ 5,045 The following tables summarize the average carrying amount of impaired loans and interest income recognized on impaired loans by portfolio segment for the three and six months ended June 30, 2021 and 2020: Average Carrying Amount Interest Income Recognized Three Months Ended June 30, Three Months Ended June 30, 2021 2020 2021 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,163 $ 4,080 $ 22 $ 24 Commercial real estate 10,911 7,885 68 38 Commercial business 4,667 3,673 7 3 Construction 8,997 — — — Total impaired loans without a valuation allowance 28,738 15,638 97 65 Impaired loans with a valuation allowance: Commercial real estate $ 22,827 $ 6,282 $ 225 $ 63 Commercial business 120 523 1 2 Total impaired loans with a valuation allowance 22,947 6,805 226 65 Total impaired loans $ 51,685 $ 22,443 $ 323 $ 130 Average Carrying Amount Interest Income Recognized Six Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,180 $ 4,106 $ 43 $ 55 Commercial real estate 11,008 7,961 362 76 Commercial business 4,687 3,682 67 6 Construction 8,997 — — — Total impaired loans without a valuation allowance 28,872 15,749 472 137 Impaired loans with a valuation allowance: Commercial real estate $ 23,249 $ 6,288 $ 428 $ 126 Commercial business 124 531 3 4 Total impaired loans with a valuation allowance 23,373 6,819 431 130 Total impaired loans $ 52,245 $ 22,568 $ 903 $ 267 Troubled debt restructurings ("TDRs") Modifications to a loan are considered to be a troubled debt restructuring when both of the following conditions are met: 1) the borrower is experiencing financial difficulties and 2) the modification constitutes a concession that is not in line with market rates and/or terms. Modified terms are dependent upon the financial position and needs of the individual borrower. Troubled debt restructurings are classified as impaired loans. If a performing loan is restructured into a TDR, it remains in performing status. If a nonperforming loan is restructured into a TDR, it continues to be carried in nonaccrual status. Nonaccrual classification may be removed if the borrower demonstrates compliance with the modified terms for a minimum of six months. Loans classified as TDRs totaled $16.0 million at June 30, 2021 and $9.1 million at December 31, 2020. The following tables provide information on loans that were modified as TDRs during the periods indicated. Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Three Months Ended June 30, Residential real estate 1 — $ 132 $ — $ 132 $ — Commercial business 1 — 2,567 — 2,655 — Commercial real estate 1 — 3,217 — 3,168 — Total 3 — $ 5,916 $ — $ 5,955 $ — Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Six Months Ended June 30, Residential real estate 2 — $ 764 $ — $ 764 $ — Commercial business 1 — 2,567 — 2,655 — Commercial real estate 1 — 3,217 — 3,168 — Total 4 — $ 6,548 $ — $ 6,587 $ — At June 30, 2021 and December 31, 2020, there were four nonaccrual loans identified as TDRs totaling $1.5 million and three nonaccrual loans identified as TDRs totaling $1.4 million, respectively. There were no loans modified in a troubled debt restructuring that re-defaulted during the six months ended June 30, 2021 and June 30, 2020. The following table provides information on how loans were modified as TDRs during the three and six months ended June 30, 2021 and June 30, 2020. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Payment concession $ 132 $ — $ 764 $ — Maturity, rate and payment concession 2,655 — 2,655 — Rate concession 3,168 — 3,168 — Total $ 5,955 $ — $ 6,587 $ —

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity Common Stock The Company has 10,000,000 shares authorized and 7,895,101 shares issued and outstanding at June 30, 2021 and 10,000,000 shares authorized and 7,919,278 shares issued and outstanding at December 31, 2020. The Company's stock is traded on the NASDAQ stock market under the ticker symbol BWFG. Dividends The Company’s shareholders are entitled to dividends when and if declared by the Board of Directors out of funds legally available. The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements. Issuer Purchases of Equity Securities On December 19, 2018, the Company's Board of Directors authorized a share repurchase program of up to 400,000 shares of the Company's Common Stock. The Company intends to accomplish the share repurchases through open market transactions, though the Company could accomplish repurchases through other means, such as privately negotiated transactions. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The share repurchase plan does not obligate the Company to acquire any particular amount of Common Stock, and it may be modified or suspended at any time at the Company's discretion. During the six months ended June 30, 2021, the Company purchased 79,155 shares of its Common Stock at a weighted average price of $22.68 per share. During the year ended December 31, 2020, the Company purchased 58,499 shares of its Common Stock at a weighted average price of $17.69 per share.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Comprehensive Income	Comprehensive IncomeComprehensive income represents the sum of net income and items of other comprehensive income or loss, including net unrealized gains or losses on securities available for sale and net unrealized gains or losses on derivatives. The Company's derivative instruments are utilized to manage economic risks, including interest rate risk. Changes in fair value of the Company's derivatives are primarily driven by changes in interest rates and recognized in other comprehensive income. The Company's current derivative positions will cause a decrease to other comprehensive income in a falling interest rate environment and an increase in a rising interest rate environment. The Company’s total comprehensive income or loss for the three and six months ended June 30, 2021 and June 30, 2020 is reported in the Consolidated Statements of Comprehensive Income. The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax for the three and six months ended June 30, 2021 and June 30, 2020: Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at March 31, 2021 $ 1,946 $ (9,819) $ (7,873) Other comprehensive income (loss) before reclassifications, net of tax 536 (3,599) (3,063) Amounts reclassified from accumulated other comprehensive income, net of tax — 737 737 Net other comprehensive income (loss) 536 (2,862) (2,326) Balance at June 30, 2021 $ 2,482 $ (12,681) $ (10,199) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at March 31, 2020 $ 2,658 $ (21,992) $ (19,334) Other comprehensive income (loss) before reclassifications, net of tax 418 (1,028) (610) Amounts reclassified from accumulated other comprehensive income, net of tax — 211 211 Net other comprehensive income (loss) 418 (817) (399) Balance at June 30, 2020 $ 3,076 $ (22,809) $ (19,733) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2020 $ 2,744 $ (18,319) $ (15,575) Other comprehensive (loss) income before reclassifications, net of tax (262) 4,177 3,915 Amounts reclassified from accumulated other comprehensive income, net of tax — 1,461 1,461 Net other comprehensive (loss) income (262) 5,638 5,376 Balance at June 30, 2021 $ 2,482 $ (12,681) $ (10,199) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2019 $ 928 $ (8,444) $ (7,516) Other comprehensive income (loss) before reclassifications, net of tax 2,148 (14,624) (12,476) Amounts reclassified from accumulated other comprehensive income, net of tax — 259 259 Net other comprehensive income (loss) 2,148 (14,365) (12,217) Balance at June 30, 2020 $ 3,076 $ (22,809) $ (19,733) The following table provides information for the items reclassified from accumulated other comprehensive income or loss: Accumulated Other Comprehensive Income Components Three Months Ended June 30, Six Months Ended June 30, Associated Line Item in the Consolidated Statements of Income 2021 2020 2021 2020 (In thousands) Derivatives: Unrealized losses on derivatives $ (953) $ (270) $ (1,875) $ (333) Interest expense on borrowings Tax benefit 216 59 414 74 Income tax expense Net of tax $ (737) $ (211) $ (1,461) $ (259)

Earnings per share ("EPS")

Earnings per share ("EPS")	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per share ("EPS")	Earnings per share ("EPS") Unvested restricted stock awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of EPS pursuant to the two-class method. The two-class method is an earnings allocation formula that determines EPS for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. The Company’s unvested restricted stock awards qualify as participating securities. Net income is allocated between the common stock and participating securities pursuant to the two-class method. Basic EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, excluding participating unvested restricted stock awards. Diluted EPS is computed in a similar manner, except that the denominator includes the number of additional common shares that would have been outstanding if potentially dilutive common shares were issued using the treasury stock method. The following table is a reconciliation of earnings available to common shareholders and basic weighted average common shares outstanding to diluted weighted average common shares outstanding, reflecting the application of the two-class method: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income $ 6,228 $ 1,214 $ 11,917 $ 2,577 Dividends to participating securities (1) (22) (16) (44) (33) Undistributed earnings allocated to participating securities (1) (99) (2) (189) (5) Net income for earnings per share calculation $ 6,107 $ 1,196 $ 11,684 $ 2,539 Weighted average shares outstanding, basic 7,722 7,715 7,744 7,733 Effect of dilutive equity-based awards (2) 46 — 49 15 Weighted average shares outstanding, diluted 7,768 7,715 7,793 7,748 Net earnings per common share: Basic earnings per common share $ 0.79 $ 0.16 $ 1.51 $ 0.33 Diluted earnings per common share $ 0.79 $ 0.16 $ 1.50 $ 0.33 Awards excluded from the calculation of diluted EPS (3) : Stock options — 10 — — (1) Represents dividends paid and undistributed earnings allocated to unvested stock-based awards that contain non-forfeitable rights to dividends. (2) Represents the effect of the assumed exercise of stock options and the vesting of restricted shares, as applicable, utilizing the treasury stock method. (3) Represents stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock, and, therefore, are considered anti-dilutive.

Regulatory Matters

Regulatory Matters	6 Months Ended
	Jun. 30, 2021
Regulatory Matters [Abstract]
Regulatory Matters	Regulatory Matters The Federal Reserve, the FDIC and the other federal and state bank regulatory agencies establish regulatory capital guidelines for U.S. banking organizations. As of January 1, 2015, the Company and the Bank became subject to new capital rules set forth by the Federal Reserve, the FDIC and the other federal and state bank regulatory agencies. The capital rules revise the banking agencies’ leverage and risk-based capital requirements and the method for calculating risk weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act (the Basel III Capital Rules). The Basel III Capital Rules establish a minimum Common Equity Tier 1 capital requirement of 4.5% of risk-weighted assets; set the minimum leverage ratio at 4.0% of total assets; increased the minimum Tier 1 capital to risk-weighted assets requirement from 4.0% to 6.0%; and retained the minimum total capital to risk weighted assets requirement at 8.0%. A “well-capitalized” institution must generally maintain capital ratios 100-200 basis points higher than the minimum guidelines. The Basel III Capital Rules also change the risk weights assigned to certain assets. The Basel III Capital Rules assigned a higher risk weight (150%) to loans that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The Basel III Capital Rules also alter the risk weighting for other assets, including marketable equity securities that are risk weighted generally at 300%. The Basel III Capital Rules require certain components of accumulated other comprehensive income (loss) to be included for purposes of calculating regulatory capital requirements unless a one-time opt-out is exercised. The Bank did exercise its opt-out option and excludes the unrealized gain (loss) on investment securities component of accumulated other comprehensive income (loss) from regulatory capital. The Basel III Capital Rules limit a banking organization’s capital distributions and certain discretionary bonus payments to executive officers if the banking organization does not hold a “capital conservation buffer” of 2.5% in addition to the minimum risk based capital requirement. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. As of June 30, 2021, the Bank and Company met all capital adequacy requirements to which they are subject. There are no conditions or events since then that management believes have changed this conclusion. The capital amounts and ratios for the Bank and the Company at June 30, 2021 and December 31, 2020 were as follows: Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank June 30, 2021 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 205,649 10.95 % $ 131,522 7.00 % $ 122,128 6.50 % Total Capital to Risk-Weighted Assets 222,451 11.84 % 197,284 10.50 % 187,889 10.00 % Tier I Capital to Risk-Weighted Assets 205,649 10.95 % 159,706 8.50 % 150,311 8.00 % Tier I Capital to Average Assets 205,649 9.19 % 89,537 4.00 % 111,921 5.00 % Bankwell Financial Group, Inc. June 30, 2021 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 198,360 10.54 % $ 131,737 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 227,696 12.10 % 197,606 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 198,360 10.54 % 159,967 8.50 % N/A N/A Tier I Capital to Average Assets 198,360 8.85 % 89,664 4.00 % N/A N/A Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2020 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 191,579 11.06 % $ 121,216 7.00 % $ 112,558 6.50 % Total Capital to Risk-Weighted Assets 212,588 12.28 % 181,825 10.50 % 173,166 10.00 % Tier I Capital to Risk-Weighted Assets 191,579 11.06 % 147,191 8.50 % 138,533 8.00 % Tier I Capital to Average Assets 191,579 8.44 % 90,836 4.00 % 113,545 5.00 % Bankwell Financial Group, Inc. December 31, 2020 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 189,529 10.93 % $ 121,408 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 230,696 13.30 % 182,111 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 189,529 10.93 % 147,423 8.50 % N/A N/A Tier I Capital to Average Assets 189,529 8.34 % 90,916 4.00 % N/A N/A Regulatory Restrictions on Dividends The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements. Reserve Requirements on Cash The Bank was not required to maintain a minimum reserve balance in the Federal Reserve Bank (FRB) at June 30, 2021 or December 31, 2020 as the FRB has waived this requirement due to the COVID-19 pandemic.

Deposits

Deposits	6 Months Ended
	Jun. 30, 2021
Deposits [Abstract]
Deposits	Deposits At June 30, 2021 and December 31, 2020, deposits consisted of the following: June 30, 2021 December 31, 2020 (In thousands) Noninterest bearing demand deposit accounts $ 328,473 $ 270,235 Interest bearing accounts: NOW 136,558 101,737 Money market 814,083 669,364 Savings 173,943 158,750 Time certificates of deposit 486,245 627,230 Total interest bearing accounts 1,610,829 1,557,081 Total deposits $ 1,939,302 $ 1,827,316 Maturities of time certificates of deposit as of June 30, 2021 and December 31, 2020 are summarized below: June 30, 2021 December 31, 2020 (In thousands) 2021 $ 217,615 $ 418,117 2022 90,562 50,425 2023 135,494 128,495 2024 42,541 30,160 2025 33 33 Total $ 486,245 $ 627,230 The aggregate amount of individual certificate accounts, including brokered deposits with balances of $250,000 or more, was approximately $284.8 million at June 30, 2021 and $353.7 million at December 31, 2020. Brokered certificates of deposits totaled $200.1 million at June 30, 2021 and $238.9 million at December 31, 2020. Certificates of deposits from national listing services totaled $1.1 million at June 30, 2021 and $18.4 million at December 31, 2020. Brokered money market accounts totaled $104.0 million at June 30, 2021 and $13.5 million at December 31, 2020. The following table summarizes interest expense on deposits by account type for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) NOW $ 54 $ 31 $ 97 $ 59 Money market 941 862 1,891 2,354 Savings 92 295 217 967 Time certificates of deposits 1,657 3,622 3,653 7,139 Total interest expense on deposits $ 2,744 $ 4,810 $ 5,858 $ 10,519

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Stock-Based Compensation	Stock-Based Compensation Equity award plans The Company has stock options or unvested restricted stock outstanding under three equity award plans, which are collectively referred to as the “Plan”. The current plan under which any future issuances of equity awards will be made is the 2012 BNC Financial Group, Inc. Stock Plan, or the “2012 Plan,” as amended from time-to-time. All equity awards made under the 2012 Plan are made by means of an award agreement, which contains the specific terms and conditions of the grant. To date, all equity awards have been in the form of stock options or restricted stock. At June 30, 2021, there were 641,056 shares reserved for future issuance under the 2012 Plan. Stock Options : The Company accounts for stock options based on the fair value at the date of grant and records an expense over the vesting period of such awards on a straight line basis. There were no options granted during the six months ended June 30, 2021. A summary of the status of outstanding stock options for the six months ended June 30, 2021 is presented below: Six Months Ended June 30, 2021 Number of Shares Weighted Average Exercise Price Options outstanding at beginning of period 15,180 $ 16.82 Exercised (3,500) 15.00 Options outstanding at end of period 11,680 17.37 Options exercisable at end of period 11,680 17.37 Intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of share options exercised during the six months ended June 30, 2021 was $19 thousand. The range of exercise prices for the 11,680 options exercisable at June 30, 2021 was $15.00 to $17.86 per share. The weighted average remaining contractual life for these options was 1.7 years at June 30, 2021. At June 30, 2021, as all awarded options have vested, all of the outstanding options are exercisable, and the aggregate intrinsic value of these options was $120 thousand. Restricted Stock : Restricted stock provides grantees with rights to shares of common stock upon completion of a service period. Shares of unvested restricted stock are considered participating securities. Restricted stock awards generally vest over one The following table presents the activity for restricted stock for the six months ended June 30, 2021: Six Months Ended June 30, 2021 Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 163,369 (1) $ 26.22 Granted 51,628 (2) 18.97 Vested (30,299) 27.72 Forfeited (150) 33.02 Unvested at end of period 184,548 23.94 (1) Includes 15,099 shares of performance based restricted stock (2) Includes 17,563 shares of performance based restricted stock The total fair value of restricted stock awards vested during the six months ended June 30, 2021 was $0.7 million. The Company's restricted stock expense for the six months ended June 30, 2021 and June 30, 2020 was $0.9 million and $0.8 million, respectively. At June 30, 2021, there was $3.4 million of unrecognized stock compensation expense for restricted stock, expected to be recognized over a weighted average period of 1.8 years. Performance Based Restricted Stock : The Company has 32,662 shares of performance based restricted stock outstanding as of June 30, 2021 pursuant to the Company’s 2012 Stock Plan. The awards vest over a three

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company manages economic risks, including interest rate, liquidity, and credit risk, by managing the amount, sources, and duration of its funding along with the use of interest rate derivative financial instruments, namely interest rate swaps. The Company does not use derivatives for speculative purposes. As of June 30, 2021, the Company was a party to nine interest rate swaps, designated as hedging instruments, to add stability to interest expense and to manage its exposure to the variability of the future cash flows attributable to the contractually specified interest rates. The notional amount for each swap is $25 million and in each case, the Company has entered into pay-fixed interest rate swaps to convert rolling 90 days Federal Home Loan Bank advances or brokered deposits. As of June 30, 2021, the Company entered into four interest rate swaps not designated as hedging instruments, to minimize interest rate risk exposure with loans to customers. The Company accounts for all non-borrower related interest rate swaps as effective cash flow hedges. None of the interest rate swap agreements contain any credit risk related contingent features. A hedging instrument is expected at inception to be highly effective at offsetting changes in the hedged transactions attributable to the changes in the hedged risk. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain loan customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. Interest rate swaps with a positive fair value are recorded as other assets and interest rate swaps with a negative fair value are recorded as other liabilities on the Consolidated Balance Sheets. Information about derivative instruments at June 30, 2021 and December 31, 2020 is as follows: As of June 30, 2021 Derivative Assets Derivative Liabilities Notional Amount Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps $ 50,000 Other assets $ 353 $ 175,000 Accrued expenses and other liabilities $ (16,685) Derivatives not designated as hedging instruments: Interest rate swaps (1) $ 38,500 Other assets $ 2,645 $ 38,500 Accrued expenses and other liabilities $ (2,645) (1) Represents interest rate swaps with commercial banking customers, which are offset by derivatives with a third party. Accrued interest payable related to interest rate swaps as of June 30, 2021 totaled $0.7 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps in a net liability position, including accrued interest, totaled $17.0 million as of June 30, 2021. As of December 31, 2020 Derivative Assets Derivative Liabilities Notional Amount Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps $ — Other assets $ — $ 225,000 Accrued expenses and other liabilities $ (23,567) Derivatives not designated as hedging instruments: Interest rate swaps (1) $ 38,500 Other assets $ 4,444 $ 38,500 Accrued expenses and other liabilities $ (4,444) (1) Represents interest rate swaps with commercial banking customers, which are offset by derivatives with a third party. Accrued interest payable related to interest rate swaps as of December 31, 2020 totaled $0.6 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps in a net liability position, including accrued interest, totaled $24.2 million as of December 31, 2020. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company expects to reclassify $3.6 million to interest expense during the next 12 months. The Company assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged item or transaction. The Company does not offset derivative assets and derivative liabilities for financial statement presentation purposes. Changes in the consolidated statements of comprehensive income (loss) related to interest rate derivatives designated as hedges of cash flows were as follows for the three and six months ended June 30, 2021 and June 30, 2020: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Interest rate swaps designated as cash flow hedges: Unrealized (loss) gain recognized in accumulated other comprehensive income before reclassifications $ (4,652) $ (1,314) $ 5,360 $ (18,803) Amounts reclassified from accumulated other comprehensive income 953 270 1,875 333 Income tax benefit (expense) on items recognized in accumulated other comprehensive income 837 227 (1,597) 4,105 Other comprehensive (loss) income $ (2,862) $ (817) $ 5,638 $ (14,365) The above unrealized gains and losses are reflective of market interest rates as of the respective balance sheet dates. Generally, a lower interest rate environment will result in a negative impact to comprehensive income whereas a higher interest rate environment will result in a positive impact to comprehensive income. The following tables summarize gross and net information about derivative instruments that are offset in the Consolidated Balance Sheets at June 30, 2021 and December 31, 2020: June 30, 2021 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivative Assets $ 2,951 $ — $ 2,951 $ — $ — $ 2,951 (1) Includes accrued interest payable totaling $47.0 thousand. June 30, 2021 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Posted Net Amount Derivative Liabilities $ 19,954 $ — $ 19,954 $ — $ 19,415 $ 539 (1) Includes accrued interest payable totaling $624.0 thousand. December 31, 2020 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivative Assets $ 4,484 $ — $ 4,484 $ — $ — $ 4,484 (1) Includes accrued interest receivable totaling $40.0 thousand. December 31, 2020 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Posted Net Amount Derivative Liabilities $ 28,673 $ — $ 28,673 $ — $ 28,205 $ 468 (1) Includes accrued interest payable totaling $662.0 thousand.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the Consolidated Balance Sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rates and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparisons to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction. The estimated fair value amounts have been measured as of the respective period-ends, and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk. The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at June 30, 2021 and December 31, 2020 were as follows: June 30, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 297,851 $ 297,851 $ 297,851 $ — $ — Federal funds sold 4,036 4,036 4,036 — — Marketable equity securities 2,192 2,192 2,192 — — Available for sale securities 90,983 90,983 20,680 70,303 — Held to maturity securities 16,166 18,634 — 61 18,573 Loans receivable, net 1,719,274 1,712,916 — — 1,712,916 Accrued interest receivable 6,661 6,661 — 6,661 — FHLB stock 3,844 3,844 — 3,844 — Servicing asset, net of valuation allowance 740 740 — — 740 Derivative asset 2,998 2,998 — 2,998 — Assets held for sale 2,613 2,613 — — 2,613 Financial Liabilities: Noninterest bearing deposits $ 328,473 $ 328,473 $ — $ 328,473 $ — NOW and money market 950,641 950,641 — 950,641 — Savings 173,943 173,943 — 173,943 — Time deposits 486,245 488,158 — — 488,158 Accrued interest payable 1,766 1,766 — 1,766 — Advances from the FHLB 75,000 74,990 — — 74,990 Subordinated debentures 15,366 15,539 — — 15,539 Servicing liability 24 24 — — 24 Derivative liability 19,330 19,330 — 19,330 — December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 405,340 $ 405,340 $ 405,340 $ — $ — Federal funds sold 4,258 4,258 4,258 — — Marketable equity securities 2,207 2,207 2,207 — — Available for sale securities 88,605 88,605 10,148 78,457 — Held to maturity securities 16,078 20,032 — 70 19,962 Loans receivable, net 1,601,672 1,605,402 — — 1,605,402 Accrued interest receivable 6,579 6,579 — 6,579 — FHLB stock 7,860 7,860 — 7,860 — Servicing asset, net of valuation allowance 628 628 — — 628 Derivative asset 4,444 4,444 — 4,444 — Assets held for sale 2,613 2,613 — — 2,613 Financial Liabilities: Noninterest bearing deposits $ 270,235 $ 270,235 $ — $ 270,235 $ — NOW and money market 771,101 771,101 — 771,101 — Savings 158,750 158,750 — 158,750 — Time deposits 627,230 631,891 — — 631,891 Accrued interest payable 1,750 1,750 — 1,750 — Advances from the FHLB 175,000 174,997 — — 174,997 Subordinated debentures 25,258 25,447 — — 25,447 Servicing liability 21 21 — — 21 Derivative liability 28,011 28,011 — 28,011 — The following methods and assumptions were used by management in estimating the fair value of its financial instruments: Cash and due from banks, federal funds sold, accrued interest receivable and accrued interest payable: The carrying amount is a reasonable estimate of fair value. Marketable equity securities, available for sale securities and held to maturity securities: Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. The majority of the available for sale securities are considered to be Level 2 as other observable inputs are utilized, such as quoted prices for similar securities. Level 1 investment securities include investments in U.S. treasury notes and in marketable equity securities for which a quoted price is readily available in the market. Level 3 held to maturity securities represent private placement municipal housing authority bonds for which no quoted market price is available. The fair value for these securities is estimated using a discounted cash flow model, using discount rates ranging from 3.2% to 4.6% as of June 30, 2021 and 2.9% to 3.3% as of December 31, 2020. These securities are CRA eligible investments. FHLB stock: The carrying value of FHLB stock approximates fair value based on the most recent redemption provisions of the FHLB. Loans receivable: For variable rate loans which reprice frequently and have no significant change in credit risk, fair values are based on carrying values. The fair value of fixed rate loans are estimated by discounting the future cash flows using the rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value methodology includes prepayment, default and loss severity assumptions applied by the type of loan. The fair value estimate of the loans includes an expected credit loss. Derivative asset (liability): The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company also considers the creditworthiness of each counterparty for assets and the creditworthiness of the Company for liabilities. Assets held for sale: Assets held for sale (excluding loans) consist of real estate properties that are expected to sell within a year. The assets are reported at the lower of the carrying amount or fair value less costs to sell. The fair value represents the price that would be received to sell the asset (the exit price). Servicing asset (liability): Servicing assets and liabilities do not trade in an active, open market with readily observable prices. The Company estimates the fair value of servicing assets and liabilities using discounted cash flow models, incorporating numerous assumptions from the perspective of a market participant, including market discount rates. Deposits: The fair value of demand deposits, regular savings and certain money market deposits is the amount payable on demand at the reporting date. The fair value of certificates of deposit and other time deposits is estimated using a discounted cash flow calculation that applies interest rates currently being offered for deposits of similar remaining maturities to a schedule of aggregated expected maturities on such deposits. Borrowings and Subordinated Debentures: The fair value of the Company’s borrowings and subordinated debentures is estimated using a discounted cash flow calculation that applies discount rates currently offered based on similar maturities. The Company also considers its own creditworthiness in determining the fair value of its borrowings and subordinated debt. Contractual cash flows for the subordinated debt are reduced based on the estimated rates of default, the severity of losses to be incurred on a default, and the rates at which the subordinated debt is expected to prepay after the call date. Off-balance-sheet instruments: Loan commitments on which the committed interest rate is less than the current market rate are insignificant at June 30, 2021 and December 31, 2020.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to account for certain assets at fair value on a recurring or non-recurring basis. The Company determines fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 — Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 — Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Valuation techniques based on unobservable inputs are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows and the selection of discount rates that may appropriately reflect market and credit risks. Changes in these judgments often have a material impact on the fair value estimates. In addition, since these estimates are as of a specific point in time they are susceptible to material near-term changes. Financial instruments measured at fair value on a recurring basis The following table details the financial instruments carried at fair value on a recurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the six months ended June 30, 2021 and for the year ended December 31, 2020. Fair Value (In thousands) Level 1 Level 2 Level 3 June 30, 2021: Marketable equity securities $ 2,192 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 20,680 57,230 — Corporate bonds — 13,073 — Derivative asset — 2,998 — Derivative liability — 19,330 — December 31, 2020: Marketable equity securities $ 2,207 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 10,148 66,730 — Corporate bonds — 11,727 — Derivative asset — 4,444 — Derivative liability — 28,011 — Marketable equity securities and available for sale investment securities: The fair value of the Company’s investment securities is estimated by using pricing models or quoted prices of securities with similar characteristics (i.e., matrix pricing) and is classified within Level 1 or Level 2 of the valuation hierarchy. The pricing is primarily sourced from third-party pricing services overseen by management. Derivative assets and liabilities: The Company’s derivative assets and liabilities consist of transactions as part of management’s strategy to manage interest rate risk. The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company has determined that the majority of the inputs used to value its interest rate derivatives fall within Level 2 of the fair value hierarchy. Financial instruments measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a non-recurring basis in accordance with GAAP. These include assets that are measured at the lower-of-cost-or-market that were recognized at fair value below cost at the end of the period as well as assets that are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The following table details the financial instruments measured at fair value on a nonrecurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value (In thousands) Level 1 Level 2 Level 3 June 30, 2021: Impaired loans $ — $ — $ 46,136 Servicing asset, net — — 716 December 31, 2020: Impaired loans $ — $ — $ 42,661 Servicing asset, net — — 607 Assets held for sale — — 2,613 The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at June 30, 2021 and December 31, 2020: Fair Value Valuation Methodology Unobservable Input Range (Dollars in thousands) June 30, 2021: Impaired loans $ 19,898 Appraisals Discount to appraised value 8.00% 26,238 Discounted cash flows Discount rate 3.00 - 6.75% $ 46,136 Servicing asset, net $ 716 Discounted cash flows Discount rate 10.00% (1) Prepayment rate 3.00 - 17.00% December 31, 2020: Impaired loans $ 20,703 Appraisals Discount to appraised value 8.00 - 33.00% 21,958 Discounted cash flows Discount rate 3.00 - 12.00% $ 42,661 Servicing asset, net $ 607 Discounted cash flows Discount rate 10.00% (2) Prepayment rate 3.00 - 16.00% Assets held for sale $ 2,613 Sale & income Adjustment to N/A (1) Servicing liabilities totaling $24 thousand were valued using a discount rate of 0.3%. (2) Servicing liabilities totaling $21 thousand were valued using a discount rate of 0.2%. Impaired loans : Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans calculated in accordance with ASC 310-10 when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or other assumptions. Estimates of fair value based on collateral are generally based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3. For those loans where the primary source of repayment is cash flow from operations, adjustments include impairment amounts calculated based on the perceived collectability of interest payments on the basis of a discounted cash flow analysis utilizing a discount rate equivalent to the original note rate. Servicing assets and liabilities: When loans are sold, on a servicing retained basis, servicing rights are initially recorded at fair value. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized. The fair value of servicing assets and liabilities are not measured on an ongoing basis but are subject to fair value adjustments when and if the assets or liabilities are deemed to be impaired. Assets held for sale: Assets held for sale (excluding loans) consist of real estate properties that are expected to sell within a year. The assets are reported at the lower of the carrying amount or fair value less costs to sell. The fair value represents the price that would be received to sell the asset (the exit price).

Subordinated debentures

Subordinated debentures	6 Months Ended
	Jun. 30, 2021
Subordinated Borrowings [Abstract]
Subordinated debentures	Subordinated debentures On August 19, 2015, the Company completed a private placement of $25.5 million in aggregate principal amount of fixed rate subordinated notes (the “Notes”) to certain institutional investors. The Notes are non-callable for five years, have a stated maturity of August 15, 2025, and bear interest at a quarterly pay fixed rate of 5.75% per annum to the maturity date. The Notes became callable, in part or in whole, beginning August 2020. On May 15, 2021, the Company repaid $10.0 million of the Notes. The Notes have been structured to qualify for the Company as Tier 2 capital under regulatory guidelines. The net proceeds were used for general corporate purposes, which included maintaining liquidity at the holding company, providing equity capital to the Bank to fund balance sheet growth and the Company's working capital needs. In the third quarter of 2020, the Notes were assigned an investment grade of BBB- by Kroll Bond Rating Agency. The Company recognized $0.3 million and $0.4 million in interest expense related to its subordinated debt for the three month periods ended June 30, 2021 and 2020, respectively. The Company recognized $0.7 million in interest expense related to its subordinated debt for each of the six month periods ended June 30, 2021 and 2020.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 28, 2021, the Company’s Board of Directors declared a $0.18 per share cash dividend, payable on August 26, 2021 to shareholders of record on August 16, 2021, representing a 29% increase when compared to the prior quarter’s dividend. Subsequent to June 30, 2021 and through July 31, 2021 the Company repurchased 52,277 shares at a weighted average price of $27.26 under the Company’s share repurchase program.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of the Company and the Bank, including its wholly owned passive investment company subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the consolidated balance sheet, and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, the valuation of derivative instruments, investment securities valuation, evaluation of investment securities for other than temporary impairment and deferred income taxes valuation. The COVID-19 pandemic has resulted in significant economic disruption affecting our business and the clients we serve. As vaccination efforts continue, restrictions on businesses have been lifted and a return to more normal economic activity has begun. However, a significant degree of uncertainty still exists concerning the ultimate duration and magnitude of the COVID-19 pandemic and subsequent outbreaks, including whether restrictions that have been lifted will need to be imposed again or tightened in the future. Given the ongoing and dynamic nature of the circumstances, it is still difficult to predict the full impact of the COVID-19 pandemic on our business. The extent of such impact will depend on future developments, including but not limited to the continued roll-out of vaccinations, which play an important role as to when the coronavirus can be controlled and abated.
Basis of consolidated financial statement presentation	Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2021. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2020.
Common Shares Repurchases	Common Share Repurchases The Company is incorporated in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized, but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances.
Reclassification	Reclassification Certain prior period amounts may be reclassified to conform to the 2021 financial statement presentation. These reclassifications only change the reporting categories and do not affect the consolidated results of operations or consolidated financial position of the Company.
Recent accounting pronouncements	Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. Recently issued accounting pronouncements not yet adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” This ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. On July 17, 2019, the FASB proposed deferring the effective date of ASC 326 for smaller reporting companies as defined by the SEC. The FASB proposed a three year deferral for smaller reporting companies, with an effective date of January 1, 2023. On October 16, 2019, the FASB voted in favor of finalizing its proposal to defer the effective date of this standard. The FASB issued ASU No. 2019-10, which officially delayed the adoption of this standard for smaller reporting companies until fiscal years beginning after December 15, 2022. The Company does qualify to defer the adoption of this standard and has not yet adopted this standard. Management continues to evaluate the impact of its future adoption of this guidance on the Company’s financial statements. ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This ASU simplifies the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity was required to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, this ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. On October 16, 2019, the FASB voted in favor of a proposal to defer the effective date of this standard in the same manner it is deferring the effective date of ASC 326. The FASB issued ASU No. 2019-10, which officially delayed the adoption of this standard for smaller reporting companies until fiscal years beginning after December 15, 2022. The Company does qualify to defer the adoption of this standard and has not yet adopted this standard. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. Recently adopted accounting pronouncements ASU No. 2020-04, Reference Rate Reform (Topic 848): "Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This ASU provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. Optional expedients include that modifications of contracts should be accounted for by prospectively adjusting the effective interest rate and modifications of leases should be accounted for as a continuation of the

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities	The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at June 30, 2021 were as follows: June 30, 2021 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 9,989 $ 81 $ — $ 10,070 Due from one through five years 10,629 — (19) 10,610 Due from five through ten years 7,949 713 — 8,662 Due after ten years 46,717 1,875 (24) 48,568 Total U.S. Government and agency obligations 75,284 2,669 (43) 77,910 Corporate bonds Due from one through five years 1,000 8 — 1,008 Due from five through ten years 10,000 464 — 10,464 Due after ten years 1,500 101 — 1,601 Total corporate bonds 12,500 573 — 13,073 Total available for sale securities $ 87,784 $ 3,242 $ (43) $ 90,983 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,114 $ 2,682 $ (223) $ 18,573 Government-sponsored mortgage backed securities No contractual maturity 52 9 — 61 Total held to maturity securities $ 16,166 $ 2,691 $ (223) $ 18,634 The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at December 31, 2020 were as follows: December 31, 2020 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 9,976 $ 172 $ — $ 10,148 Due from five through ten years 8,038 848 — 8,886 Due after ten years 55,560 2,284 — 57,844 Total U.S. Government and agency obligations 73,574 3,304 — 76,878 Corporate bonds Due from one through five years 4,000 57 — 4,057 Due from five through ten years 6,000 163 — 6,163 Due after ten years 1,500 7 — 1,507 Total corporate bonds 11,500 227 — 11,727 Total available for sale securities $ 85,074 $ 3,531 $ — $ 88,605 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,018 $ 3,944 $ — $ 19,962 Government-sponsored mortgage backed securities No contractual maturity 60 10 — 70 Total held to maturity securities $ 16,078 $ 3,954 $ — $ 20,032
Schedule of fair value and related unrealized losses of temporarily impaired investment securities, aggregated by investment category	The following table provides information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2021: Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Value Unrealized Percent Fair Value Unrealized Percent Fair Value Unrealized Percent (Dollars in thousands) June 30, 2021 U.S. Government and agency obligations $ 18,761 $ (43) 0.23 % $ — $ — — % $ 18,761 $ (43) 0.23 % State agency and municipal obligations 4,457 (223) 4.76 — — — 4,457 (223) 4.76 Total investment securities $ 23,218 $ (266) 1.13 % $ — $ — — % $ 23,218 $ (266) 1.13 % There were three investment securities as of June 30, 2021, in which the fair value of the security was less than the amortized cost of the security. The U.S. Government and agency obligations owned are either direct obligations of the U.S. Government or guaranteed by the U.S. Government, therefore the contractual cash flows are guaranteed and as a result the unrealized losses in this portfolio are considered to be only temporarily impaired. The Company continually monitors its state agency and municipal bond portfolios and at this time these portfolios have minimal default risk because state agency and municipal bonds are all rated investment grade or deemed to be of investment grade quality. The Company has the intent and ability to retain its investment securities in an unrealized loss position at June 30, 2021 until the decline in value has recovered or the security has matured.

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of loan portfolio	The following table sets forth a summary of the loan portfolio at June 30, 2021 and December 31, 2020: (In thousands) June 30, 2021 December 31, 2020 Real estate loans: Residential $ 100,260 $ 113,557 Commercial 1,266,731 1,148,383 Construction 82,805 87,007 1,449,796 1,348,947 Commercial business (1) 279,814 276,601 Consumer 8,883 79 Total loans 1,738,493 1,625,627 Allowance for loan losses (16,672) (21,009) Deferred loan origination fees, net (2,547) (2,946) Loans receivable, net $ 1,719,274 $ 1,601,672 (1) The June 30, 2021 and December 31, 2020 balance includes $7.9 million and $34.8 million, respectively, of Paycheck Protection Program ("PPP") loans made under the CARES Act.
Schedule of portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio	The following tables set forth the activity in the Company’s allowance for loan losses for the three and six months ended June 30, 2021 and 2020, by portfolio segment: Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended June 30, 2021 Beginning balance $ 501 $ 16,259 $ 297 $ 3,452 $ 36 $ 20,545 Charge-offs — (3,814) — (51) (4) (3,869) Recoveries — — — 16 — 16 (Credits) provisions (183) 764 (164) (441) 4 (20) Ending balance $ 318 $ 13,209 $ 133 $ 2,976 $ 36 $ 16,672 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended June 30, 2020 Beginning balance $ 785 $ 13,134 $ 466 $ 2,301 $ — $ 16,686 Charge-offs — — — — (23) (23) Recoveries — — — — — — Provisions (credits) 24 1,275 (25) 1,702 23 2,999 Ending balance $ 809 $ 14,409 $ 441 $ 4,003 $ — $ 19,662 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Six Months Ended June 30, 2021 Beginning balance $ 610 $ 16,425 $ 221 $ 3,753 $ — $ 21,009 Charge-offs — (3,977) — (51) (18) (4,046) Recoveries — — — 16 9 25 (Credits) provisions (292) 761 (88) (742) 45 (316) Ending balance $ 318 $ 13,209 $ 133 $ 2,976 $ 36 $ 16,672 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Six Months Ended June 30, 2020 Beginning balance $ 730 $ 10,551 $ 324 $ 1,903 $ 1 $ 13,509 Charge-offs — — — (8) (25) (33) Recoveries — — — 1 1 2 Provisions 79 3,858 117 2,107 23 6,184 Ending balance $ 809 $ 14,409 $ 441 $ 4,003 $ — $ 19,662 Loans evaluated for impairment and the related allowance for loan losses as of June 30, 2021 and December 31, 2020 were as follows: Portfolio Allowance (In thousands) June 30, 2021 Loans individually evaluated for impairment: Residential real estate $ 4,148 $ — Commercial real estate 31,323 2,785 Construction 8,997 — Commercial business 4,769 3 Subtotal 49,237 2,788 Loans collectively evaluated for impairment: Residential real estate 96,112 318 Commercial real estate 1,235,408 10,424 Construction 73,808 133 Commercial business 275,045 2,973 Consumer 8,883 36 Subtotal 1,689,256 13,884 Total $ 1,738,493 $ 16,672 As of June 30, 2021, $49.2 million of loans were individually evaluated for impairment and $0.3 million of these loans were determined not impaired. Portfolio Allowance (In thousands) December 31, 2020 Loans individually evaluated for impairment: Residential real estate $ 4,604 $ — Commercial real estate 37,579 4,960 Construction 8,997 — Commercial business 6,507 85 Subtotal 57,687 5,045 Loans collectively evaluated for impairment: Residential real estate 108,953 610 Commercial real estate 1,110,804 11,465 Construction 78,010 221 Commercial business 270,094 3,668 Consumer 79 — Subtotal 1,567,940 15,964 Total $ 1,625,627 $ 21,009
Schedule of loan portfolio quality indicators by portfolio segment	The following tables present credit risk ratings by loan segment as of June 30, 2021 and December 31, 2020: Commercial Credit Quality Indicators June 30, 2021 December 31, 2020 Commercial Real Estate Construction Commercial Business Total Commercial Real Estate Construction Commercial Business Total (In thousands) Pass $ 1,234,017 $ 73,808 $ 273,591 $ 1,581,416 $ 1,105,825 $ 78,010 $ 269,728 $ 1,453,563 Special Mention 1,704 — 1,454 3,158 12,560 — 2,055 14,615 Substandard 30,586 8,997 3,222 42,805 29,998 8,997 3,247 42,242 Doubtful 424 — 1,547 1,971 — — 1,571 1,571 Loss — — — — — — — — Total loans $ 1,266,731 $ 82,805 $ 279,814 $ 1,629,350 $ 1,148,383 $ 87,007 $ 276,601 $ 1,511,991 Residential and Consumer Credit Quality Indicators June 30, 2021 December 31, 2020 Residential Real Estate Consumer Total Residential Real Estate Consumer Total (In thousands) Pass $ 95,407 $ 8,883 $ 104,290 $ 108,953 $ 79 $ 109,032 Special Mention 706 — 706 713 — 713 Substandard 3,972 — 3,972 3,714 — 3,714 Doubtful 175 — 175 177 — 177 Loss — — — — — — Total loans $ 100,260 $ 8,883 $ 109,143 $ 113,557 $ 79 $ 113,636
Schedule of information with respect to our loan portfolio delinquencies by portfolio segment and amount	The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of June 30, 2021 and December 31, 2020: June 30, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 853 $ — $ 176 $ 1,029 $ 99,231 $ 100,260 Commercial real estate 569 — 15,047 15,616 1,251,115 1,266,731 Construction — — 8,997 8,997 73,808 82,805 Commercial business 169 1,454 1,495 3,118 276,696 279,814 Consumer 3 — — 3 8,880 8,883 Total loans $ 1,594 $ 1,454 $ 25,715 $ 28,763 $ 1,709,730 $ 1,738,493 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 245 $ — $ 177 $ 422 $ 113,135 $ 113,557 Commercial real estate 1,305 193 2,541 4,039 1,144,344 1,148,383 Construction 8,997 — — 8,997 78,010 87,007 Commercial business 45 55 1,526 1,626 274,975 276,601 Consumer — — — — 79 79 Total loans $ 10,592 $ 248 $ 4,244 $ 15,084 $ 1,610,543 $ 1,625,627
Schedule of nonaccrual loans by portfolio segment	The following is a summary of nonaccrual loans by portfolio segment as of June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (In thousands) Residential real estate $ 1,160 $ 1,492 Commercial real estate 15,392 21,093 Commercial business 1,780 1,834 Construction 8,997 8,997 Total $ 27,329 $ 33,416
Schedule of summarizes impaired loans	The following table summarizes impaired loans by portfolio segment as of June 30, 2021 and December 31, 2020: Carrying Amount Unpaid Principal Balance Associated Allowance June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,148 $ 3,891 $ 4,314 $ 4,108 $ — $ — Commercial real estate 11,053 8,964 11,401 9,282 — — Construction 8,997 8,997 8,997 8,997 — — Commercial business 4,652 1,899 5,281 2,512 — — Total impaired loans without a valuation allowance 28,850 23,751 29,993 24,899 — — Impaired loans with a valuation allowance: Commercial real estate $ 19,957 $ 21,035 $ 23,809 $ 21,049 $ 2,785 $ 4,960 Commercial business 117 2,920 117 2,922 3 85 Total impaired loans with a valuation allowance 20,074 23,955 23,926 23,971 2,788 5,045 Total impaired loans $ 48,924 $ 47,706 $ 53,919 $ 48,870 $ 2,788 $ 5,045 The following tables summarize the average carrying amount of impaired loans and interest income recognized on impaired loans by portfolio segment for the three and six months ended June 30, 2021 and 2020: Average Carrying Amount Interest Income Recognized Three Months Ended June 30, Three Months Ended June 30, 2021 2020 2021 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,163 $ 4,080 $ 22 $ 24 Commercial real estate 10,911 7,885 68 38 Commercial business 4,667 3,673 7 3 Construction 8,997 — — — Total impaired loans without a valuation allowance 28,738 15,638 97 65 Impaired loans with a valuation allowance: Commercial real estate $ 22,827 $ 6,282 $ 225 $ 63 Commercial business 120 523 1 2 Total impaired loans with a valuation allowance 22,947 6,805 226 65 Total impaired loans $ 51,685 $ 22,443 $ 323 $ 130 Average Carrying Amount Interest Income Recognized Six Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,180 $ 4,106 $ 43 $ 55 Commercial real estate 11,008 7,961 362 76 Commercial business 4,687 3,682 67 6 Construction 8,997 — — — Total impaired loans without a valuation allowance 28,872 15,749 472 137 Impaired loans with a valuation allowance: Commercial real estate $ 23,249 $ 6,288 $ 428 $ 126 Commercial business 124 531 3 4 Total impaired loans with a valuation allowance 23,373 6,819 431 130 Total impaired loans $ 52,245 $ 22,568 $ 903 $ 267
Schedule of loans whose terms were modified as TDRs during the periods	Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Three Months Ended June 30, Residential real estate 1 — $ 132 $ — $ 132 $ — Commercial business 1 — 2,567 — 2,655 — Commercial real estate 1 — 3,217 — 3,168 — Total 3 — $ 5,916 $ — $ 5,955 $ — Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Six Months Ended June 30, Residential real estate 2 — $ 764 $ — $ 764 $ — Commercial business 1 — 2,567 — 2,655 — Commercial real estate 1 — 3,217 — 3,168 — Total 4 — $ 6,548 $ — $ 6,587 $ —
Schedule of information on how loans were modified as a TDR	The following table provides information on how loans were modified as TDRs during the three and six months ended June 30, 2021 and June 30, 2020. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Payment concession $ 132 $ — $ 764 $ — Maturity, rate and payment concession 2,655 — 2,655 — Rate concession 3,168 — 3,168 — Total $ 5,955 $ — $ 6,587 $ —

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax for the three and six months ended June 30, 2021 and June 30, 2020: Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at March 31, 2021 $ 1,946 $ (9,819) $ (7,873) Other comprehensive income (loss) before reclassifications, net of tax 536 (3,599) (3,063) Amounts reclassified from accumulated other comprehensive income, net of tax — 737 737 Net other comprehensive income (loss) 536 (2,862) (2,326) Balance at June 30, 2021 $ 2,482 $ (12,681) $ (10,199) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at March 31, 2020 $ 2,658 $ (21,992) $ (19,334) Other comprehensive income (loss) before reclassifications, net of tax 418 (1,028) (610) Amounts reclassified from accumulated other comprehensive income, net of tax — 211 211 Net other comprehensive income (loss) 418 (817) (399) Balance at June 30, 2020 $ 3,076 $ (22,809) $ (19,733) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2020 $ 2,744 $ (18,319) $ (15,575) Other comprehensive (loss) income before reclassifications, net of tax (262) 4,177 3,915 Amounts reclassified from accumulated other comprehensive income, net of tax — 1,461 1,461 Net other comprehensive (loss) income (262) 5,638 5,376 Balance at June 30, 2021 $ 2,482 $ (12,681) $ (10,199) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2019 $ 928 $ (8,444) $ (7,516) Other comprehensive income (loss) before reclassifications, net of tax 2,148 (14,624) (12,476) Amounts reclassified from accumulated other comprehensive income, net of tax — 259 259 Net other comprehensive income (loss) 2,148 (14,365) (12,217) Balance at June 30, 2020 $ 3,076 $ (22,809) $ (19,733)
Schedule of reclassified from accumulated other comprehensive income or loss	The following table provides information for the items reclassified from accumulated other comprehensive income or loss: Accumulated Other Comprehensive Income Components Three Months Ended June 30, Six Months Ended June 30, Associated Line Item in the Consolidated Statements of Income 2021 2020 2021 2020 (In thousands) Derivatives: Unrealized losses on derivatives $ (953) $ (270) $ (1,875) $ (333) Interest expense on borrowings Tax benefit 216 59 414 74 Income tax expense Net of tax $ (737) $ (211) $ (1,461) $ (259)

Earnings per share ("EPS") (Tab

Earnings per share ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding	The following table is a reconciliation of earnings available to common shareholders and basic weighted average common shares outstanding to diluted weighted average common shares outstanding, reflecting the application of the two-class method: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income $ 6,228 $ 1,214 $ 11,917 $ 2,577 Dividends to participating securities (1) (22) (16) (44) (33) Undistributed earnings allocated to participating securities (1) (99) (2) (189) (5) Net income for earnings per share calculation $ 6,107 $ 1,196 $ 11,684 $ 2,539 Weighted average shares outstanding, basic 7,722 7,715 7,744 7,733 Effect of dilutive equity-based awards (2) 46 — 49 15 Weighted average shares outstanding, diluted 7,768 7,715 7,793 7,748 Net earnings per common share: Basic earnings per common share $ 0.79 $ 0.16 $ 1.51 $ 0.33 Diluted earnings per common share $ 0.79 $ 0.16 $ 1.50 $ 0.33 Awards excluded from the calculation of diluted EPS (3) : Stock options — 10 — — (1) Represents dividends paid and undistributed earnings allocated to unvested stock-based awards that contain non-forfeitable rights to dividends. (2) Represents the effect of the assumed exercise of stock options and the vesting of restricted shares, as applicable, utilizing the treasury stock method. (3) Represents stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock, and, therefore, are considered anti-dilutive.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	6 Months Ended
	Jun. 30, 2021
Regulatory Matters [Abstract]
Schedule of capital amounts and ratios	The capital amounts and ratios for the Bank and the Company at June 30, 2021 and December 31, 2020 were as follows: Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank June 30, 2021 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 205,649 10.95 % $ 131,522 7.00 % $ 122,128 6.50 % Total Capital to Risk-Weighted Assets 222,451 11.84 % 197,284 10.50 % 187,889 10.00 % Tier I Capital to Risk-Weighted Assets 205,649 10.95 % 159,706 8.50 % 150,311 8.00 % Tier I Capital to Average Assets 205,649 9.19 % 89,537 4.00 % 111,921 5.00 % Bankwell Financial Group, Inc. June 30, 2021 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 198,360 10.54 % $ 131,737 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 227,696 12.10 % 197,606 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 198,360 10.54 % 159,967 8.50 % N/A N/A Tier I Capital to Average Assets 198,360 8.85 % 89,664 4.00 % N/A N/A Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2020 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 191,579 11.06 % $ 121,216 7.00 % $ 112,558 6.50 % Total Capital to Risk-Weighted Assets 212,588 12.28 % 181,825 10.50 % 173,166 10.00 % Tier I Capital to Risk-Weighted Assets 191,579 11.06 % 147,191 8.50 % 138,533 8.00 % Tier I Capital to Average Assets 191,579 8.44 % 90,836 4.00 % 113,545 5.00 % Bankwell Financial Group, Inc. December 31, 2020 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 189,529 10.93 % $ 121,408 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 230,696 13.30 % 182,111 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 189,529 10.93 % 147,423 8.50 % N/A N/A Tier I Capital to Average Assets 189,529 8.34 % 90,916 4.00 % N/A N/A

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2021
Deposits [Abstract]
Deposit Liabilities	At June 30, 2021 and December 31, 2020, deposits consisted of the following: June 30, 2021 December 31, 2020 (In thousands) Noninterest bearing demand deposit accounts $ 328,473 $ 270,235 Interest bearing accounts: NOW 136,558 101,737 Money market 814,083 669,364 Savings 173,943 158,750 Time certificates of deposit 486,245 627,230 Total interest bearing accounts 1,610,829 1,557,081 Total deposits $ 1,939,302 $ 1,827,316
Time Deposits Maturity Schedule	Maturities of time certificates of deposit as of June 30, 2021 and December 31, 2020 are summarized below: June 30, 2021 December 31, 2020 (In thousands) 2021 $ 217,615 $ 418,117 2022 90,562 50,425 2023 135,494 128,495 2024 42,541 30,160 2025 33 33 Total $ 486,245 $ 627,230
Interest Expense Disclosure	The following table summarizes interest expense on deposits by account type for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) NOW $ 54 $ 31 $ 97 $ 59 Money market 941 862 1,891 2,354 Savings 92 295 217 967 Time certificates of deposits 1,657 3,622 3,653 7,139 Total interest expense on deposits $ 2,744 $ 4,810 $ 5,858 $ 10,519

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of status of outstanding stock options	A summary of the status of outstanding stock options for the six months ended June 30, 2021 is presented below: Six Months Ended June 30, 2021 Number of Shares Weighted Average Exercise Price Options outstanding at beginning of period 15,180 $ 16.82 Exercised (3,500) 15.00 Options outstanding at end of period 11,680 17.37 Options exercisable at end of period 11,680 17.37
Schedule of activity for restricted stock	The following table presents the activity for restricted stock for the six months ended June 30, 2021: Six Months Ended June 30, 2021 Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 163,369 (1) $ 26.22 Granted 51,628 (2) 18.97 Vested (30,299) 27.72 Forfeited (150) 33.02 Unvested at end of period 184,548 23.94 (1) Includes 15,099 shares of performance based restricted stock (2) Includes 17,563 shares of performance based restricted stock

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	Information about derivative instruments at June 30, 2021 and December 31, 2020 is as follows: As of June 30, 2021 Derivative Assets Derivative Liabilities Notional Amount Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps $ 50,000 Other assets $ 353 $ 175,000 Accrued expenses and other liabilities $ (16,685) Derivatives not designated as hedging instruments: Interest rate swaps (1) $ 38,500 Other assets $ 2,645 $ 38,500 Accrued expenses and other liabilities $ (2,645) (1) Represents interest rate swaps with commercial banking customers, which are offset by derivatives with a third party. As of December 31, 2020 Derivative Assets Derivative Liabilities Notional Amount Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps $ — Other assets $ — $ 225,000 Accrued expenses and other liabilities $ (23,567) Derivatives not designated as hedging instruments: Interest rate swaps (1) $ 38,500 Other assets $ 4,444 $ 38,500 Accrued expenses and other liabilities $ (4,444) (1) Represents interest rate swaps with commercial banking customers, which are offset by derivatives with a third party.
Schedule of changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows	Changes in the consolidated statements of comprehensive income (loss) related to interest rate derivatives designated as hedges of cash flows were as follows for the three and six months ended June 30, 2021 and June 30, 2020: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Interest rate swaps designated as cash flow hedges: Unrealized (loss) gain recognized in accumulated other comprehensive income before reclassifications $ (4,652) $ (1,314) $ 5,360 $ (18,803) Amounts reclassified from accumulated other comprehensive income 953 270 1,875 333 Income tax benefit (expense) on items recognized in accumulated other comprehensive income 837 227 (1,597) 4,105 Other comprehensive (loss) income $ (2,862) $ (817) $ 5,638 $ (14,365)
Summarized gross and net information abut derivative instruments that are offset in the Consolidated Balance Sheets	The following tables summarize gross and net information about derivative instruments that are offset in the Consolidated Balance Sheets at June 30, 2021 and December 31, 2020: June 30, 2021 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivative Assets $ 2,951 $ — $ 2,951 $ — $ — $ 2,951 (1) Includes accrued interest payable totaling $47.0 thousand. June 30, 2021 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Posted Net Amount Derivative Liabilities $ 19,954 $ — $ 19,954 $ — $ 19,415 $ 539 (1) Includes accrued interest payable totaling $624.0 thousand. December 31, 2020 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivative Assets $ 4,484 $ — $ 4,484 $ — $ — $ 4,484 (1) Includes accrued interest receivable totaling $40.0 thousand. December 31, 2020 (In thousands) Gross Amounts Not Offset in the Consolidated Balance Sheets Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Posted Net Amount Derivative Liabilities $ 28,673 $ — $ 28,673 $ — $ 28,205 $ 468 (1) Includes accrued interest payable totaling $662.0 thousand.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of carrying values and fair values of the Company s financial instruments	The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at June 30, 2021 and December 31, 2020 were as follows: June 30, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 297,851 $ 297,851 $ 297,851 $ — $ — Federal funds sold 4,036 4,036 4,036 — — Marketable equity securities 2,192 2,192 2,192 — — Available for sale securities 90,983 90,983 20,680 70,303 — Held to maturity securities 16,166 18,634 — 61 18,573 Loans receivable, net 1,719,274 1,712,916 — — 1,712,916 Accrued interest receivable 6,661 6,661 — 6,661 — FHLB stock 3,844 3,844 — 3,844 — Servicing asset, net of valuation allowance 740 740 — — 740 Derivative asset 2,998 2,998 — 2,998 — Assets held for sale 2,613 2,613 — — 2,613 Financial Liabilities: Noninterest bearing deposits $ 328,473 $ 328,473 $ — $ 328,473 $ — NOW and money market 950,641 950,641 — 950,641 — Savings 173,943 173,943 — 173,943 — Time deposits 486,245 488,158 — — 488,158 Accrued interest payable 1,766 1,766 — 1,766 — Advances from the FHLB 75,000 74,990 — — 74,990 Subordinated debentures 15,366 15,539 — — 15,539 Servicing liability 24 24 — — 24 Derivative liability 19,330 19,330 — 19,330 — December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 405,340 $ 405,340 $ 405,340 $ — $ — Federal funds sold 4,258 4,258 4,258 — — Marketable equity securities 2,207 2,207 2,207 — — Available for sale securities 88,605 88,605 10,148 78,457 — Held to maturity securities 16,078 20,032 — 70 19,962 Loans receivable, net 1,601,672 1,605,402 — — 1,605,402 Accrued interest receivable 6,579 6,579 — 6,579 — FHLB stock 7,860 7,860 — 7,860 — Servicing asset, net of valuation allowance 628 628 — — 628 Derivative asset 4,444 4,444 — 4,444 — Assets held for sale 2,613 2,613 — — 2,613 Financial Liabilities: Noninterest bearing deposits $ 270,235 $ 270,235 $ — $ 270,235 $ — NOW and money market 771,101 771,101 — 771,101 — Savings 158,750 158,750 — 158,750 — Time deposits 627,230 631,891 — — 631,891 Accrued interest payable 1,750 1,750 — 1,750 — Advances from the FHLB 175,000 174,997 — — 174,997 Subordinated debentures 25,258 25,447 — — 25,447 Servicing liability 21 21 — — 21 Derivative liability 28,011 28,011 — 28,011 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of financial instruments carried at fair value on a recurring basis	The following table details the financial instruments carried at fair value on a recurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the six months ended June 30, 2021 and for the year ended December 31, 2020. Fair Value (In thousands) Level 1 Level 2 Level 3 June 30, 2021: Marketable equity securities $ 2,192 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 20,680 57,230 — Corporate bonds — 13,073 — Derivative asset — 2,998 — Derivative liability — 19,330 — December 31, 2020: Marketable equity securities $ 2,207 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 10,148 66,730 — Corporate bonds — 11,727 — Derivative asset — 4,444 — Derivative liability — 28,011 —
Schedule of financial instruments carried at fair value on a nonrecurring basis	The following table details the financial instruments measured at fair value on a nonrecurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value (In thousands) Level 1 Level 2 Level 3 June 30, 2021: Impaired loans $ — $ — $ 46,136 Servicing asset, net — — 716 December 31, 2020: Impaired loans $ — $ — $ 42,661 Servicing asset, net — — 607 Assets held for sale — — 2,613
Schedule of quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis	The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at June 30, 2021 and December 31, 2020: Fair Value Valuation Methodology Unobservable Input Range (Dollars in thousands) June 30, 2021: Impaired loans $ 19,898 Appraisals Discount to appraised value 8.00% 26,238 Discounted cash flows Discount rate 3.00 - 6.75% $ 46,136 Servicing asset, net $ 716 Discounted cash flows Discount rate 10.00% (1) Prepayment rate 3.00 - 17.00% December 31, 2020: Impaired loans $ 20,703 Appraisals Discount to appraised value 8.00 - 33.00% 21,958 Discounted cash flows Discount rate 3.00 - 12.00% $ 42,661 Servicing asset, net $ 607 Discounted cash flows Discount rate 10.00% (2) Prepayment rate 3.00 - 16.00% Assets held for sale $ 2,613 Sale & income Adjustment to N/A (1) Servicing liabilities totaling $24 thousand were valued using a discount rate of 0.3%.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Details) - CONNECTICUT	Jun. 30, 2021mi²
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Area of land	100
Real Estate Properties
Area of land	100

Investment Securities - Summary

Investment Securities - Summary of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Available for sale securities:
Amortized cost	$ 87,784	$ 85,074
Gross unrealized gains	3,242	3,531
Gross unrealized losses	(43)	0
Available for sale securities	90,983	88,605
Held to maturity securities:
Amortized cost	16,166	16,078
Gross unrealized gains	2,691	3,954
Gross unrealized losses	(223)	0
Fair value	18,634	20,032
U.S. Government and agency obligations
Available for sale securities:
Amortized cost, less than one year	9,989	9,976
Gross unrealized gains, less than one year	81	172
Gross unrealized losses, less than one year	0	0
Fair value, less than one year	10,070	10,148
Amortized cost, due from one through five years	10,629
Gross unrealized gains, due from one through five years	0
Gross unrealized losses, due from one through five years	(19)
Fair value, due from one through five years	10,610
Amortized cost, due from five through ten years	7,949	8,038
Gross unrealized gains, due from five through ten years	713	848
Gross unrealized losses, due from five through ten years	0	0
Fair value, due from five through ten years	8,662	8,886
Amortized cost, due after ten years	46,717	55,560
Gross unrealized gains, due after ten years	1,875	2,284
Gross unrealized losses, due after ten years	(24)	0
Fair value, due after ten years	48,568	57,844
Amortized cost	75,284	73,574
Gross unrealized gains	2,669	3,304
Gross unrealized losses	(43)	0
Available for sale securities	77,910	76,878
Corporate bonds
Available for sale securities:
Amortized cost, due from one through five years	1,000	4,000
Gross unrealized gains, due from one through five years	8	57
Gross unrealized losses, due from one through five years	0	0
Fair value, due from one through five years	1,008	4,057
Amortized cost, due from five through ten years	10,000	6,000
Gross unrealized gains, due from five through ten years	464	163
Gross unrealized losses, due from five through ten years	0	0
Fair value, due from five through ten years	10,464	6,163
Amortized cost, due after ten years	1,500	1,500
Gross unrealized gains, due after ten years	101	7
Gross unrealized losses, due after ten years	0	0
Fair value, due after ten years	1,601	1,507
Amortized cost	12,500	11,500
Gross unrealized gains	573	227
Gross unrealized losses	0	0
Available for sale securities	13,073	11,727
State agency and municipal obligations
Held to maturity securities:
Amortized cost, due after ten years	16,114	16,018
Gross unrealized gains, due after ten years	2,682	3,944
Gross unrealized losses, due after ten years	(223)	0
Fair Value, due after ten years	18,573	19,962
Government-sponsored mortgage backed securities
Held to maturity securities:
Amortized cost, no contractual maturity	52	60
Gross unrealized gains, no contractual maturity	9	10
Gross unrealized losses, no contractual maturity	0	0
Fair Value, no contractual maturity	$ 61	$ 70

Investment Securities - Narrati

Investment Securities - Narratives (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)security	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)security	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)security
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of securities	$ 0	$ 0	$ 0	$ 0
Marketable equity securities, at fair value	2,192,000		2,192,000		$ 2,207,000
Marketable equity securities at amortized cost	$ 2,100,000		$ 2,100,000		$ 2,100,000
Number of available for sales debt securities in continuous loss position (positions) | security	3		3		0

Investment Securities - Informa

Investment Securities - Information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss
Less than 12 months - fair value	$ 23,218
Less than 12 months - unrealized loss	$ (266)
Less than 12 months - percent decline from amortized cost	1.13%
12 months or more - fair value	$ 0
12 months or more - unrealized loss	$ 0
12 months or more - Percent decline from amortized cost	0.00%
Fair value - total	$ 23,218
Unrealized loss - total	$ (266)
Percent decline from amortized cost - total	1.13%
U.S. Government and agency obligations
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss
Less than 12 months - fair value	$ 18,761
Less than 12 months - unrealized loss	$ (43)
Less than 12 months - percent decline from amortized cost	0.23%
12 months or more - fair value	$ 0
12 months or more - unrealized loss	$ 0
12 months or more - Percent decline from amortized cost	0.00%
Fair value - total	$ 18,761
Unrealized loss - total	$ (43)
Percent decline from amortized cost - total	0.23%
State agency and municipal obligations
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss
Less than 12 months - fair value	$ 4,457
Less than 12 months - unrealized loss	$ (223)
Less than 12 months - percent decline from amortized cost	4.76%
12 months or more - fair value	$ 0
12 months or more - unrealized loss	$ 0
12 months or more - Percent decline from amortized cost	0.00%
Fair value - total	$ 4,457
Unrealized loss - total	$ (223)
Percent decline from amortized cost - total	4.76%

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Loan Losses - Summary of loan portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure
Total loans	$ 1,738,493		$ 1,625,627
Allowance for loan losses	(16,672)	$ (20,545)	(21,009)	$ (19,662)	$ (16,686)	$ (13,509)
Deferred loan origination fees, net	(2,547)		(2,946)
Loans receivable, net	1,719,274		1,601,672
Real estate loan
Loans and Leases Receivable Disclosure
Total loans	1,449,796		1,348,947
Residential
Loans and Leases Receivable Disclosure
Total loans	100,260		113,557
Allowance for loan losses	(318)	(501)	(610)	(809)	(785)	(730)
Commercial
Loans and Leases Receivable Disclosure
Total loans	1,266,731		1,148,383
Allowance for loan losses	(13,209)	(16,259)	(16,425)	(14,409)	(13,134)	(10,551)
Construction
Loans and Leases Receivable Disclosure
Total loans	82,805		87,007
Allowance for loan losses	(133)	(297)	(221)	(441)	(466)	(324)
Commercial business
Loans and Leases Receivable Disclosure
Total loans	279,814		276,601
Allowance for loan losses	(2,976)	(3,452)	(3,753)	(4,003)	(2,301)	(1,903)
Commercial business | PPP loans
Loans and Leases Receivable Disclosure
Total loans	7,900		34,800
Consumer
Loans and Leases Receivable Disclosure
Total loans	8,883		79
Allowance for loan losses	$ (36)	$ (36)	$ 0	$ 0	$ 0	$ (1)

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Loan Losses - Narratives (Details)	6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)loan
Loans and Leases Receivable Disclosure
Percentage of market value of the collateral	80.00%
Private mortgage percentage of appraised value property	80.00%
Maximum percent of the loan in comparison with original appraised value of the property	80.00%
Financing receivable, individually evaluated for impairment	$ 49,237,000		$ 57,687,000
Loans individually evaluated for impairment, portfolio, not impaired		$ 300,000	10,000,000
Deferral loans remaining	0
Loans delinquent greater than 90 days			0
Income contractually due but not recognized on originated nonaccrual loans	700,000	400,000
Interest income recognized on loan	0	0
Non-accrual loans with no allowance for loans losses	16,400,000		17,500,000
Recorded investment in TDR	$ 16,000,000		$ 9,100,000
Number of nonaccrual loans identified as TDRs | loan	4		3
TDR on non accrual status	$ 1,500,000		$ 1,400,000
The total recorded investment on 3 loans modified	$ 0	$ 0
Residential mortgage
Loans and Leases Receivable Disclosure
Private mortgage percentage of appraised value property	80.00%

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Loan Losses - Summary of allowance for loan losses by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance for Loan and Lease Losses
Beginning balance	$ 20,545	$ 16,686	$ 21,009	$ 13,509
Charge-offs	(3,869)	(23)	(4,046)	(33)
Recoveries	16	0	25	2
Provisions (credits)	(20)	2,999	(316)	6,184
Ending balance	16,672	19,662	16,672	19,662
Residential Real Estate
Allowance for Loan and Lease Losses
Beginning balance	501	785	610	730
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (credits)	(183)	24	(292)	79
Ending balance	318	809	318	809
Commercial Real Estate
Allowance for Loan and Lease Losses
Beginning balance	16,259	13,134	16,425	10,551
Charge-offs	(3,814)	0	(3,977)	0
Recoveries	0	0	0	0
Provisions (credits)	764	1,275	761	3,858
Ending balance	13,209	14,409	13,209	14,409
Construction
Allowance for Loan and Lease Losses
Beginning balance	297	466	221	324
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (credits)	(164)	(25)	(88)	117
Ending balance	133	441	133	441
Commercial Business
Allowance for Loan and Lease Losses
Beginning balance	3,452	2,301	3,753	1,903
Charge-offs	(51)	0	(51)	(8)
Recoveries	16	0	16	1
Provisions (credits)	(441)	1,702	(742)	2,107
Ending balance	2,976	4,003	2,976	4,003
Consumer
Allowance for Loan and Lease Losses
Beginning balance	36	0	0	1
Charge-offs	(4)	(23)	(18)	(25)
Recoveries	0	0	9	1
Provisions (credits)	4	23	45	23
Ending balance	$ 36	$ 0	$ 36	$ 0

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Loan Losses - Summary by portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 49,237		$ 57,687
Loans individually evaluated for impairment, Allowance	2,788		5,045
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,689,256		1,567,940
Loans collectively evaluated for impairment, Allowance	13,884		15,964
Total loans	1,738,493		1,625,627
Allowance for loan losses	16,672	$ 20,545	21,009	$ 19,662	$ 16,686	$ 13,509
Residential Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	4,148		4,604
Loans individually evaluated for impairment, Allowance	0		0
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	96,112		108,953
Loans collectively evaluated for impairment, Allowance	318		610
Total loans	100,260		113,557
Allowance for loan losses	318	501	610	809	785	730
Commercial Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	31,323		37,579
Loans individually evaluated for impairment, Allowance	2,785		4,960
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,235,408		1,110,804
Loans collectively evaluated for impairment, Allowance	10,424		11,465
Total loans	1,266,731		1,148,383
Allowance for loan losses	13,209	16,259	16,425	14,409	13,134	10,551
Construction
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	8,997		8,997
Loans individually evaluated for impairment, Allowance	0		0
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	73,808		78,010
Loans collectively evaluated for impairment, Allowance	133		221
Total loans	82,805		87,007
Allowance for loan losses	133	297	221	441	466	324
Commercial business
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	4,769		6,507
Loans individually evaluated for impairment, Allowance	3		85
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	275,045		270,094
Loans collectively evaluated for impairment, Allowance	2,973		3,668
Total loans	279,814		276,601
Allowance for loan losses	2,976	3,452	3,753	4,003	2,301	1,903
Consumer
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	8,883		79
Loans collectively evaluated for impairment, Allowance	36		0
Total loans	8,883		79
Allowance for loan losses	$ 36	$ 36	$ 0	$ 0	$ 0	$ 1

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Loan Losses - Summary of credit risk ratings by loan segment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment
Total loans	$ 1,738,493	$ 1,625,627
Commercial Real Estate
Financing Receivable, Recorded Investment
Total loans	1,266,731	1,148,383
Construction
Financing Receivable, Recorded Investment
Total loans	82,805	87,007
Commercial business
Financing Receivable, Recorded Investment
Total loans	279,814	276,601
Residential Real Estate
Financing Receivable, Recorded Investment
Total loans	100,260	113,557
Consumer
Financing Receivable, Recorded Investment
Total loans	8,883	79
Commercial Credit Quality Indicators
Financing Receivable, Recorded Investment
Total loans	1,629,350	1,511,991
Commercial Credit Quality Indicators | Pass
Financing Receivable, Recorded Investment
Total loans	1,581,416	1,453,563
Commercial Credit Quality Indicators | Special Mention
Financing Receivable, Recorded Investment
Total loans	3,158	14,615
Commercial Credit Quality Indicators | Substandard
Financing Receivable, Recorded Investment
Total loans	42,805	42,242
Commercial Credit Quality Indicators | Doubtful
Financing Receivable, Recorded Investment
Total loans	1,971	1,571
Commercial Credit Quality Indicators | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Commercial Real Estate
Financing Receivable, Recorded Investment
Total loans	1,266,731	1,148,383
Commercial Credit Quality Indicators | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment
Total loans	1,234,017	1,105,825
Commercial Credit Quality Indicators | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment
Total loans	1,704	12,560
Commercial Credit Quality Indicators | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment
Total loans	30,586	29,998
Commercial Credit Quality Indicators | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment
Total loans	424	0
Commercial Credit Quality Indicators | Commercial Real Estate | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction
Financing Receivable, Recorded Investment
Total loans	82,805	87,007
Commercial Credit Quality Indicators | Construction | Pass
Financing Receivable, Recorded Investment
Total loans	73,808	78,010
Commercial Credit Quality Indicators | Construction | Special Mention
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction | Substandard
Financing Receivable, Recorded Investment
Total loans	8,997	8,997
Commercial Credit Quality Indicators | Construction | Doubtful
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Commercial business
Financing Receivable, Recorded Investment
Total loans	279,814	276,601
Commercial Credit Quality Indicators | Commercial business | Pass
Financing Receivable, Recorded Investment
Total loans	273,591	269,728
Commercial Credit Quality Indicators | Commercial business | Special Mention
Financing Receivable, Recorded Investment
Total loans	1,454	2,055
Commercial Credit Quality Indicators | Commercial business | Substandard
Financing Receivable, Recorded Investment
Total loans	3,222	3,247
Commercial Credit Quality Indicators | Commercial business | Doubtful
Financing Receivable, Recorded Investment
Total loans	1,547	1,571
Commercial Credit Quality Indicators | Commercial business | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators
Financing Receivable, Recorded Investment
Total loans	109,143	113,636
Residential and Consumer Credit Quality Indicators | Pass
Financing Receivable, Recorded Investment
Total loans	104,290	109,032
Residential and Consumer Credit Quality Indicators | Special Mention
Financing Receivable, Recorded Investment
Total loans	706	713
Residential and Consumer Credit Quality Indicators | Substandard
Financing Receivable, Recorded Investment
Total loans	3,972	3,714
Residential and Consumer Credit Quality Indicators | Doubtful
Financing Receivable, Recorded Investment
Total loans	175	177
Residential and Consumer Credit Quality Indicators | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Residential Real Estate
Financing Receivable, Recorded Investment
Total loans	100,260	113,557
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Pass
Financing Receivable, Recorded Investment
Total loans	95,407	108,953
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Special Mention
Financing Receivable, Recorded Investment
Total loans	706	713
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Substandard
Financing Receivable, Recorded Investment
Total loans	3,972	3,714
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Doubtful
Financing Receivable, Recorded Investment
Total loans	175	177
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer
Financing Receivable, Recorded Investment
Total loans	8,883	79
Residential and Consumer Credit Quality Indicators | Consumer | Pass
Financing Receivable, Recorded Investment
Total loans	8,883	79
Residential and Consumer Credit Quality Indicators | Consumer | Special Mention
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer | Substandard
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer | Doubtful
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer | Loss
Financing Receivable, Recorded Investment
Total loans	$ 0	$ 0

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Loan Losses - Summary of loan portfolio delinquencies by portfolio segment and amount (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due
Total loans	$ 1,738,493	$ 1,625,627
Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	28,763	15,084
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	1,594	10,592
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	1,454	248
90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	25,715	4,244
Current
Financing Receivable, Recorded Investment, Past Due
Total loans	1,709,730	1,610,543
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due
Total loans	100,260	113,557
Residential Real Estate | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	1,029	422
Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	853	245
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	0
Residential Real Estate | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	176	177
Residential Real Estate | Current
Financing Receivable, Recorded Investment, Past Due
Total loans	99,231	113,135
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due
Total loans	1,266,731	1,148,383
Commercial Real Estate | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	15,616	4,039
Commercial Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	569	1,305
Commercial Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	193
Commercial Real Estate | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	15,047	2,541
Commercial Real Estate | Current
Financing Receivable, Recorded Investment, Past Due
Total loans	1,251,115	1,144,344
Construction
Financing Receivable, Recorded Investment, Past Due
Total loans	82,805	87,007
Construction | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	8,997	8,997
Construction | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	8,997
Construction | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	0
Construction | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	8,997	0
Construction | Current
Financing Receivable, Recorded Investment, Past Due
Total loans	73,808	78,010
Commercial business
Financing Receivable, Recorded Investment, Past Due
Total loans	279,814	276,601
Commercial business | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	3,118	1,626
Commercial business | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	169	45
Commercial business | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	1,454	55
Commercial business | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	1,495	1,526
Commercial business | Current
Financing Receivable, Recorded Investment, Past Due
Total loans	276,696	274,975
Consumer
Financing Receivable, Recorded Investment, Past Due
Total loans	8,883	79
Consumer | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	3	0
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	3	0
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	0
Consumer | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total loans	0	0
Consumer | Current
Financing Receivable, Recorded Investment, Past Due
Total loans	$ 8,880	$ 79

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Loan Losses - Summary of nonaccrual loans by portfolio segment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	$ 27,329	$ 33,416
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	1,160	1,492
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	15,392	21,093
Commercial business
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	1,780	1,834
Construction
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	$ 8,997	$ 8,997

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Loan Losses - Summary of impaired loans (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Impaired loans without a valuation allowance:
Carrying Amount	$ 28,850	$ 23,751
Unpaid Principal Balance	29,993	24,899
Impaired loans with a valuation allowance:
Carrying Amount	20,074	23,955
Unpaid Principal Balance	23,926	23,971
Total impaired loans
Carrying Amount	48,924	47,706
Unpaid Principal Balance	53,919	48,870
Associated Allowance	2,788	5,045
Residential Real Estate
Impaired loans without a valuation allowance:
Carrying Amount	4,148	3,891
Unpaid Principal Balance	4,314	4,108
Commercial Real Estate
Impaired loans without a valuation allowance:
Carrying Amount	11,053	8,964
Unpaid Principal Balance	11,401	9,282
Impaired loans with a valuation allowance:
Carrying Amount	19,957	21,035
Unpaid Principal Balance	23,809	21,049
Total impaired loans
Associated Allowance	2,785	4,960
Construction
Impaired loans without a valuation allowance:
Carrying Amount	8,997	8,997
Unpaid Principal Balance	8,997	8,997
Commercial business
Impaired loans without a valuation allowance:
Carrying Amount	4,652	1,899
Unpaid Principal Balance	5,281	2,512
Impaired loans with a valuation allowance:
Carrying Amount	117	2,920
Unpaid Principal Balance	117	2,922
Total impaired loans
Associated Allowance	$ 3	$ 85

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Loan Losses - Summary of average recorded investment balance of impaired loans and interest income recognized on impaired loans by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Impaired loans without a valuation allowance:
Average Carrying Amount	$ 28,738	$ 15,638	$ 28,872	$ 15,749
Interest Income Recognized	97	65	472	137
Impaired loans with a valuation allowance:
Average Carrying Amount	22,947	6,805	23,373	6,819
Interest Income Recognized	226	65	431	130
Total impaired loans
Average Carrying Amount	51,685	22,443	52,245	22,568
Interest Income Recognized	323	130	903	267
Residential Real Estate
Impaired loans without a valuation allowance:
Average Carrying Amount	4,163	4,080	4,180	4,106
Interest Income Recognized	22	24	43	55
Commercial Real Estate
Impaired loans without a valuation allowance:
Average Carrying Amount	10,911	7,885	11,008	7,961
Interest Income Recognized	68	38	362	76
Impaired loans with a valuation allowance:
Average Carrying Amount	22,827	6,282	23,249	6,288
Interest Income Recognized	225	63	428	126
Commercial business
Impaired loans without a valuation allowance:
Average Carrying Amount	4,667	3,673	4,687	3,682
Interest Income Recognized	7	3	67	6
Impaired loans with a valuation allowance:
Average Carrying Amount	120	523	124	531
Interest Income Recognized	1	2	3	4
Construction
Impaired loans without a valuation allowance:
Average Carrying Amount	8,997	0	8,997	0
Interest Income Recognized	$ 0	$ 0	$ 0	$ 0

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Loan Losses - Summary of loans whose terms were modified as TDRs (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan
Financing Receivable, Modifications
Financing Receivable, Modifications, Number of Contracts | loan	3	0	4	0
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 5,916	$ 0	$ 6,548	$ 0
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 5,955	$ 0	$ 6,587	$ 0
Residential Real Estate
Financing Receivable, Modifications
Financing Receivable, Modifications, Number of Contracts | loan	1	0	2	0
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 132	$ 0	$ 764	$ 0
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 132	$ 0	$ 764	$ 0
Commercial Business
Financing Receivable, Modifications
Financing Receivable, Modifications, Number of Contracts | loan	1	0	1	0
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 2,567	$ 0	$ 2,567	$ 0
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 2,655	$ 0	$ 2,655	$ 0
Commercial Real Estate
Financing Receivable, Modifications
Financing Receivable, Modifications, Number of Contracts | loan	1	0	1	0
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 3,217	$ 0	$ 3,217	$ 0
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 3,168	$ 0	$ 3,168	$ 0

Loans Receivable and Allowan_13

Loans Receivable and Allowance for Loan Losses - Summary of loans were modified as TDR (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Modifications
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 5,955	$ 0	$ 6,587	$ 0
Payment concession
Financing Receivable, Modifications
Financing Receivable, Troubled Debt Restructuring, Postmodification	132	0	764	0
Maturity, rate and payment concession
Financing Receivable, Modifications
Financing Receivable, Troubled Debt Restructuring, Postmodification	2,655	0	2,655	0
Rate concession
Financing Receivable, Modifications
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 3,168	$ 0	$ 3,168	$ 0

Shareholders' Equity - Common s

Shareholders' Equity - Common stock (Details) - shares	Jun. 30, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (shares)	10,000,000	10,000,000
Common stock, shares issued (shares)	7,895,101	7,919,278
Common stock, shares outstanding (shares)	7,895,101	7,919,278

Shareholders' Equity - Issuer p

Shareholders' Equity - Issuer purchases of equity securities (Details) - $ / shares	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 19, 2018
Stockholders Equity Note
Authorized shares for repurchase (shares)					400,000
Weighted average share repurchased (in dollars per share)				$ 17.69
Common Stock
Stockholders Equity Note
Shares repurchased (shares)	13,529	79,155	58,499	58,499
Weighted average share repurchased (in dollars per share)		$ 22.68

Comprehensive Income - Summary

Comprehensive Income - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income Loss
Beginning balance	$ 187,943	$ 170,214	$ 176,602	$ 182,397
Other comprehensive income (loss) before reclassifications, net of tax	(3,063)	(610)	3,915	(12,476)
Amounts reclassified from accumulated other comprehensive income, net of tax	737	211	1,461	259
Net other comprehensive income (loss)	(2,326)	(399)	5,376	(12,217)
Ending balance	190,795	170,360	190,795	170,360
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss
Beginning balance	(7,873)	(19,334)	(15,575)	(7,516)
Net other comprehensive income (loss)	(2,326)	(399)	5,376	(12,217)
Ending balance	(10,199)	(19,733)	(10,199)	(19,733)
Net Unrealized Gain (Loss) on Available for Sale Securities
Accumulated Other Comprehensive Income Loss
Beginning balance	1,946	2,658	2,744	928
Other comprehensive income (loss) before reclassifications, net of tax	536	418	(262)	2,148
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0	0
Net other comprehensive income (loss)	536	418	(262)	2,148
Ending balance	2,482	3,076	2,482	3,076
Net Unrealized Gain (Loss) on Interest Rate Swaps
Accumulated Other Comprehensive Income Loss
Beginning balance	(9,819)	(21,992)	(18,319)	(8,444)
Other comprehensive income (loss) before reclassifications, net of tax	(3,599)	(1,028)	4,177	(14,624)
Amounts reclassified from accumulated other comprehensive income, net of tax	737	211	1,461	259
Net other comprehensive income (loss)	(2,862)	(817)	5,638	(14,365)
Ending balance	$ (12,681)	$ (22,809)	$ (12,681)	$ (22,809)

Comprehensive Income - Summar_2

Comprehensive Income - Summary of reclassified from accumulated other comprehensive income or loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivatives:
Unrealized losses on derivatives	$ (4,652)	$ (1,314)	$ 5,360	$ (18,803)
Derivatives: | Amount Reclassified from Accumulated Other Comprehensive Income
Derivatives:
Unrealized losses on derivatives	(953)	(270)	(1,875)	(333)
Tax benefit	216	59	414	74
Net of tax	$ (737)	$ (211)	$ (1,461)	$ (259)

Earnings per share ("EPS") - Re

Earnings per share ("EPS") - Reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 6,228	$ 1,214	$ 11,917	$ 2,577
Dividends to participating securities	(22)	(16)	(44)	(33)
Undistributed earnings allocated to participating securities	(99)	(2)	(189)	(5)
Net income for earnings per share calculation	$ 6,107	$ 1,196	$ 11,684	$ 2,539
Weighted average shares outstanding, basic (in shares)	7,722,481	7,715,094	7,744,368	7,732,615
Effect of dilutive equity-based awards (in shares)	46,000	0	49,000	15,000
Weighted average shares outstanding, diluted (in shares)	7,768,026	7,715,295	7,792,600	7,748,104
Net earnings per common share:
Basic earnings per common share (in dollars per share)	$ 0.79	$ 0.16	$ 1.51	$ 0.33
Diluted earnings per common share (in dollars per share)	$ 0.79	$ 0.16	$ 1.50	$ 0.33
Stock options (in shares)	0	10,000	0	0

Regulatory Matters - Narratives

Regulatory Matters - Narratives (Details)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements under Banking Regulations
Tier 1 capital to risk-weighted assets requirement (percent)	0.1095	0.1106
Total capital to risk-weighted assets requirement (percent)	0.0800	0.0800
Percentage of higher risk weight (percent)	150.00%
Risk weight of marketable equity securities (percent)	300.00%
Minimum
Compliance with Regulatory Capital Requirements under Banking Regulations
Common equity Tier 1 capital requirement of risk-weighted assets (percent)	4.50%
Leverage ratio (percent)	4.00%
Tier 1 capital to risk-weighted assets requirement (percent)	0.040
Percentage of capital ratio	1.00%
Regulatory risk based capital conservation buffer (percent)	2.50%
Maximum
Compliance with Regulatory Capital Requirements under Banking Regulations
Tier 1 capital to risk-weighted assets requirement (percent)	0.060
Percentage of capital ratio	2.00%

Regulatory Matters - Capital am

Regulatory Matters - Capital amounts and ratios for Bank (Details) $ in Thousands	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Actual Capital, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 205,649	$ 191,579
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	222,451	212,588
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	205,649	191,579
Tier I Capital to Average Assets, Actual Capital, Amount	$ 205,649	$ 191,579
Actual Capital, Ratio
Common Equity Tier 1 capital requirement	0.1095	0.1106
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1184	0.1228
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1095	0.1106
Tier I Capital to Average Assets, Actual Capital, Ratio	0.0919	0.0844
Minimum Regulatory Capital Required for Capital Adequacy Plus Capital Conservation Buffer, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 131,522	$ 121,216
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	197,284	181,825
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	159,706	147,191
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 89,537	$ 90,836
Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0700	0.0700
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.1050	0.1050
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0850	0.0850
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0400	0.0400
Minimum Regulatory Capital To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 122,128	$ 112,558
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	187,889	173,166
Tier I Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	150,311	138,533
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 111,921	$ 113,545
Minimum Regulatory Capital To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0650	0.0650
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000	0.1000
Tier I Capital to Risk-Weighted Assets To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.0800
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500
Bankwell Financial Group Inc.
Actual Capital, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 198,360	$ 189,529
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	227,696	230,696
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	198,360	189,529
Tier I Capital to Average Assets, Actual Capital, Amount	$ 198,360	$ 189,529
Actual Capital, Ratio
Common Equity Tier 1 capital requirement	0.1054	0.1093
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1210	0.1330
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1054	0.1093
Tier I Capital to Average Assets, Actual Capital, Ratio	0.0885	0.0834
Minimum Regulatory Capital Required for Capital Adequacy Plus Capital Conservation Buffer, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 131,737	$ 121,408
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	197,606	182,111
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	159,967	147,423
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 89,664	$ 90,916
Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0700	0.0700
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.1050	0.1050
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0850	0.0850
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	0.0400	0.0400

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deposits [Abstract]
Noninterest bearing demand deposit accounts	$ 328,473	$ 270,235
Interest bearing accounts:
NOW	136,558	101,737
Money market	814,083	669,364
Savings	173,943	158,750
Time certificates of deposit	486,245	627,230
Total interest bearing accounts	1,610,829	1,557,081
Total deposits	$ 1,939,302	$ 1,827,316

Deposits - Time Deposits Maturi

Deposits - Time Deposits Maturity Schedule (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Time Deposits, Fiscal Year Maturity
Remainder of year	$ 217,615
Year one	90,562	$ 418,117
Year two	135,494	50,425
Year three	42,541	128,495
Year four	33	30,160
Year five		33
Time certificates of deposit	$ 486,245	$ 627,230

Deposits - Narratives (Details)

Deposits - Narratives (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Deposits [Abstract]
Certificate of deposits above $250,000	$ 284.8	$ 353.7
Brokerage certificate of deposits	200.1	238.9
Brokerage certificate of deposits national listing service	1.1	18.4
Brokerage money market accounts	$ 104	$ 13.5

Deposits - Interest Expense on

Deposits - Interest Expense on Deposits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest Expense on Deposit Liabilities, Disclosures
NOW	$ 54	$ 31	$ 97	$ 59
Money market	941	862	1,891	2,354
Savings	92	295	217	967
Time certificates of deposits	1,657	3,622	3,653	7,139
Total interest expense on deposits	$ 2,744	$ 4,810	$ 5,858	$ 10,519

Stock-Based Compensation - Narr

Stock-Based Compensation - Narratives (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)Plan$ / sharesshares	Jun. 30, 2020USD ($)	Dec. 31, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award
Intrinsic value of exercisable shares | $	$ 120
Unvested shares outstanding (shares) | shares	184,548		163,369
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Total intrinsic value of share options exercised | $	$ 19
Exercise price of exercisable shares (shares) | shares	11,680
Exercise price lower range limit (in dollars per share) | $ / shares	$ 15
Exercise price upper range limit (in dollars per share) | $ / shares	$ 17.86
Exercisable shares (term)	1 year 8 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate intrinsic value of awards other than options | $	$ 700
Share based compensation expenses | $	900	$ 800
Unrecognized stock compensation expense for restricted stock | $	$ 3,400
Weighted average period for recognition of compensation expense for restricted stock	1 year 9 months 18 days
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Share based payment award, vesting period	1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Share based payment award, vesting period	5 years
Performance based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
Unvested shares outstanding (shares) | shares			15,099
BNC Financial Group Inc Stock Option 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of equity award plans | Plan	3
Number of common stock reserved for issuance (shares) | shares	641,056
BNC Financial Group Inc Stock Option 2012 Plan | Performance based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
Unvested shares outstanding (shares) | shares	32,662
BNC Financial Group Inc Stock Option 2012 Plan | Performance based restricted stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Share based payment award, vesting period	3 years
Percentage of grant as share quantity for which performance metric is met	0.00%
BNC Financial Group Inc Stock Option 2012 Plan | Performance based restricted stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Share based payment award, vesting period	4 years
Percentage of grant as share quantity for which performance metric is met	200.00%

Stock-Based Compensation - Outs

Stock-Based Compensation - Outstanding share options (Details) - Employee Stock Options	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Options outstanding at beginning of period (shares) | shares	15,180
Exercised (shares) | shares	(3,500)
Options outstanding at end of period (shares) | shares	11,680
Options exercisable at end of period (shares) | shares	11,680
Weighted Average Exercise Price
Options outstanding at beginning of period (usd per share) | $ / shares	$ 16.82
Exercised (usd per share) | $ / shares	15
Options outstanding at end of period (usd per share) | $ / shares	17.37
Options exercisable at end of period (usd per share) | $ / shares	$ 17.37

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity for restricted stock (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Unvested at beginning of period (shares)	163,369
Granted (shares)	51,628
Vested (shares)	(30,299)
Forfeited (shares)	(150)
Unvested at end of period (shares)	184,548
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) | $ / shares	$ 26.22
Granted (in dollars per share) | $ / shares	18.97
Vested (in dollars per share) | $ / shares	27.72
Forfeited (in dollars per share) | $ / shares	33.02
Unvested at end of period (in dollars per share) | $ / shares	$ 23.94
Performance based restricted stock
Number of Shares
Unvested at beginning of period (shares)	15,099
Granted (shares)	17,563

Derivative Instruments - Narrat

Derivative Instruments - Narratives (Details)	6 Months Ended
	Jun. 30, 2021USD ($)instrument	Dec. 31, 2020USD ($)
Derivatives
Accrued interest included in derivative fair value	$ 47,000	$ 40,000
Accrued interest included in derivative liability fair value	624,000	662,000
Interest expense
Derivatives
Amount of cash flow hedge gain expected to be reclassified to interest expense in the next 12 months	$ 3,600,000
Interest rate swaps
Derivatives
Number of derivatives instruments held (instruments) | instrument	9
Notional amount of interest rate swap	$ 25,000,000
Rolling period of federal home loan bank advances converted to fixed rates	90 days
Accrued interest excluded from derivative fair value	$ 700,000	600,000
Accrued interest included in derivative fair value	$ 17,000,000	$ 24,200,000
Interest rate swaps | Derivatives not designated as hedging instruments
Derivatives
Number of derivatives instruments held (instruments) | instrument	4

Derivative Instruments - Inform

Derivative Instruments - Information about derivative instruments (Details) - Interest rate swaps - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Derivatives
Notional Amount	$ 25,000,000
Derivatives designated as hedging instruments | Cash Flow Hedging | Other assets
Derivatives
Notional Amount	50,000,000	$ 0
Derivative asset fair value	353,000	0
Derivatives designated as hedging instruments | Cash Flow Hedging | Accrued expenses and other liabilities
Derivatives
Notional Amount	175,000,000	225,000,000
Derivative liability fair value	(16,685,000)	(23,567,000)
Derivatives not designated as hedging instruments | Other assets
Derivatives
Notional Amount	38,500,000	38,500,000
Derivative asset fair value	2,645,000	4,444,000
Derivatives not designated as hedging instruments | Accrued expenses and other liabilities
Derivatives
Notional Amount	38,500,000	38,500,000
Derivative liability fair value	$ (2,645,000)	$ (4,444,000)

Derivative Instruments - Change

Derivative Instruments - Changes in consolidated statements of comprehensive income related to interest rate derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest rate swaps designated as cash flow hedges:
Unrealized (loss) gain recognized in accumulated other comprehensive income before reclassifications	$ (4,652)	$ (1,314)	$ 5,360	$ (18,803)
Amounts reclassified from accumulated other comprehensive income	953	270	1,875	333
Income tax benefit (expense)	837	227	(1,597)	4,105
Unrealized (losses) gains on interest rate swaps, net of tax	$ (2,862)	$ (817)	$ 5,638	$ (14,365)

Derivative Instruments - Summar

Derivative Instruments - Summary of gross net information about derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Offsetting Derivative Assets
Gross Amounts of Recognized Assets	$ 2,951	$ 4,484
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets presented in the Statement of Financial Position	2,951	4,484
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	2,951	4,484
Offsetting Derivative Liabilities
Gross Amounts of Recognized Liabilities	19,954	28,673
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Liabilities presented in the Statement of Financial Position	19,954	28,673
Financial Instruments	0	0
Cash collateral posted	19,415	28,205
Net Amount	$ 539	$ 468

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying values and fair values of financial instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial Assets:
Federal funds sold	$ 4,036	$ 4,258
Marketable equity securities	2,192	2,207
Available for sale securities	90,983	88,605
Held to maturity securities	16,166	16,078
Derivative asset	2,951	4,484
Financial Liabilities:
Derivative liability	19,954	28,673
Level 1
Financial Assets:
Cash and due from banks	297,851	405,340
Federal funds sold	4,036	4,258
Marketable equity securities	2,192	2,207
Available for sale securities	20,680	10,148
Held to maturity securities	0	0
Loans receivable, net	0	0
Accrued interest receivable	0	0
FHLB stock	0	0
Servicing asset, net of valuation allowance	0	0
Derivative asset	0	0
Assets held for sale	0	0
Financial Liabilities:
Noninterest bearing deposits	0	0
NOW and money market	0	0
Savings	0	0
Time deposits	0	0
Accrued interest payable	0	0
Advances from the FHLB	0	0
Subordinated debentures	0	0
Servicing liability	0	0
Derivative liability	0	0
Level 2
Financial Assets:
Cash and due from banks	0	0
Federal funds sold	0	0
Marketable equity securities	0	0
Available for sale securities	70,303	78,457
Held to maturity securities	61	70
Loans receivable, net	0	0
Accrued interest receivable	6,661	6,579
FHLB stock	3,844	7,860
Servicing asset, net of valuation allowance	0	0
Derivative asset	2,998	4,444
Assets held for sale	0	0
Financial Liabilities:
Noninterest bearing deposits	328,473	270,235
NOW and money market	950,641	771,101
Savings	173,943	158,750
Time deposits	0	0
Accrued interest payable	1,766	1,750
Advances from the FHLB	0	0
Subordinated debentures	0	0
Servicing liability	0	0
Derivative liability	19,330	28,011
Level 3
Financial Assets:
Cash and due from banks	0	0
Federal funds sold	0	0
Marketable equity securities	0	0
Available for sale securities	0	0
Held to maturity securities	18,573	19,962
Loans receivable, net	1,712,916	1,605,402
Accrued interest receivable	0	0
FHLB stock	0	0
Servicing asset, net of valuation allowance	740	628
Derivative asset	0	0
Assets held for sale	2,613	2,613
Financial Liabilities:
Noninterest bearing deposits	0	0
NOW and money market	0	0
Savings	0	0
Time deposits	488,158	631,891
Accrued interest payable	0	0
Advances from the FHLB	74,990	174,997
Subordinated debentures	15,539	25,447
Servicing liability	24	21
Derivative liability	0	0
Carrying Value
Financial Assets:
Cash and due from banks	297,851	405,340
Federal funds sold	4,036	4,258
Marketable equity securities	2,192	2,207
Available for sale securities	90,983	88,605
Held to maturity securities	16,166	16,078
Loans receivable, net	1,719,274	1,601,672
Accrued interest receivable	6,661	6,579
FHLB stock	3,844	7,860
Servicing asset, net of valuation allowance	740	628
Derivative asset	2,998	4,444
Assets held for sale	2,613	2,613
Financial Liabilities:
Noninterest bearing deposits	328,473	270,235
NOW and money market	950,641	771,101
Savings	173,943	158,750
Time deposits	486,245	627,230
Accrued interest payable	1,766	1,750
Advances from the FHLB	75,000	175,000
Subordinated debentures	15,366	25,258
Derivative liability	19,330	28,011
Fair Value
Financial Assets:
Cash and due from banks	297,851	405,340
Federal funds sold	4,036	4,258
Marketable equity securities	2,192	2,207
Available for sale securities	90,983	88,605
Held to maturity securities	18,634	20,032
Loans receivable, net	1,712,916	1,605,402
Accrued interest receivable	6,661	6,579
FHLB stock	3,844	7,860
Servicing asset, net of valuation allowance	740	628
Derivative asset	2,998	4,444
Assets held for sale	2,613	2,613
Financial Liabilities:
Noninterest bearing deposits	328,473	270,235
NOW and money market	950,641	771,101
Savings	173,943	158,750
Time deposits	488,158	631,891
Accrued interest payable	1,766	1,750
Advances from the FHLB	74,990	174,997
Subordinated debentures	15,539	25,447
Servicing liability	24	21
Derivative liability	$ 19,330	$ 28,011

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narratives (Details) - Discount rate	Jun. 30, 2021	Dec. 31, 2020
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities, measurement input	0.032	0.029
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities, measurement input	0.046	0.033

Fair Value Measurements - Finan

Fair Value Measurements - Financial instruments carried at fair value on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	$ 2,192	$ 2,207
Available for sale securities	90,983	88,605
Derivative asset	2,951	4,484
Derivative liability	19,954	28,673
U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	77,910	76,878
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	2,192	2,207
Available for sale securities	20,680	10,148
Derivative asset	0	0
Derivative liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Available for sale securities	70,303	78,457
Derivative asset	2,998	4,444
Derivative liability	19,330	28,011
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Available for sale securities	0	0
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	2,192	2,207
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 1 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	20,680	10,148
Fair Value Measurements Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	0	0
Fair Value Measurements Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Derivative asset	2,998	4,444
Derivative liability	19,330	28,011
Fair Value Measurements Recurring | Level 2 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	57,230	66,730
Fair Value Measurements Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	13,073	11,727
Fair Value Measurements Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 3 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	0	0
Fair Value Measurements Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	$ 0	$ 0

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial instruments carried at fair value on nonrecurring basis (Details) - Fair Value Measurements Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 0	$ 0
Servicing asset, net	0	0
Assets held for sale		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	0	0
Servicing asset, net	0	0
Assets held for sale		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	46,136	42,661
Servicing asset, net	$ 716	607
Assets held for sale		$ 2,613

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on nonrecurring basis (Details) $ in Thousands	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability	$ 24	$ 21
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability	24	21
Fair Value Measurements Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	46,136	42,661
Servicing asset, net	716	607
Assets held for sale		2,613
Fair Value Measurements Nonrecurring | Level 3 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	46,136	42,661
Servicing asset, net	$ 716	607
Fair Value Measurements Nonrecurring | Level 3 | Fair Value | Sale & income approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets held for sale		$ 2,613
Fair Value Measurements Nonrecurring | Level 3 | Discount rate | Fair Value | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.1000	0.1000
Servicing liability, measurement input (percent)	0.003	0.002
Fair Value Measurements Nonrecurring | Level 3 | Prepayment rate | Fair Value | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.0300	0.0300
Fair Value Measurements Nonrecurring | Level 3 | Prepayment rate | Fair Value | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.1700	0.1600
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Fair Value | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 19,898	$ 20,703
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Fair Value | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 26,238	$ 21,958
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount to appraised value | Fair Value | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0800
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount to appraised value | Fair Value | Minimum | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)		0.0800
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount to appraised value | Fair Value | Maximum | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)		0.3300
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount rate | Fair Value | Minimum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0300	0.0300
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount rate | Fair Value | Maximum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0675	0.1200

Subordinated debentures - Narra

Subordinated debentures - Narratives (Details) - Subordinated debentures - USD ($)	May 15, 2021	Aug. 19, 2015	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Instrument
Aggregate principal amount			$ 15,500,000		$ 15,500,000		$ 25,500,000
Subordinated debt	$ 10,000,000
Fixed rated subordinated notes
Debt Instrument
Aggregate principal amount		$ 25,500,000
Notes non-callable term (in years)		5 years
Quarterly pay fixed interest rate of notes		5.75%
Interest expense debt			$ 300,000	$ 400,000	$ 700,000	$ 700,000

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jul. 28, 2021	Jul. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Subsequent Event
Dividends per common share (in dollars per share)			$ 0.14	$ 0.14	$ 0.28	$ 0.28
Increase (decrease) In dividends declared			29.00%
Weighted average share repurchased (in dollars per share)							$ 17.69
Subsequent Event
Subsequent Event
Dividends per common share (in dollars per share)	$ 0.18
Shares repurchased (shares)		52,277
Weighted average share repurchased (in dollars per share)		$ 27.26