*****Preparation*****
In a large well, seasoned pot heat bacon over medium heat. Stirring regularly until browned and fully rendered. Add onion, green pepper and celery, stir frequently until vegetables are soft and onion is translucent.
Stir in garlic, thyme, paprika, bay leaves, cayenne pepper, black pepper and salt, cook until their fragrance is released about 1 minute. Stir in beans, chicken stock, water, bring to boil over high heat. Reduce heat and vigorously simmer, stir occasionally until beans are just soft and liquid begins to thicken, 45 to 60 minutes.