Bridgewater Bancshares Inc

Listed Company

BWBCIK 0001341317NasdaqAcceleratedState Commercial BanksMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$46.09M

Total Assets

$5.41B

Equity

$517.10M

Shares Out

27.88M

Op. Cash Flow

$27.81M

Business

Bridgewater Bancshares, Inc. is a financial holding company that controls Bridgewater Bank and two bank subsidiaries, operating as a commercial banking organization focused on relationship-based lending. The company offers loan and deposit products, including commercial real estate and multifamily lending, construction and land development loans, commercial transaction and cash management accounts, and online/mobile consumer deposit services. Key business units include the Bank, BWB Holdings, LLC for repossessed property, and Bridgewater Investment Management, Inc. The company serves the Twin Cities metropolitan area via nine branches and digital channels.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, Including Fees	233	205	191	146	119
Investment Securities	39	34	26	16	10
Other	10	7	5	1	458,000
Total Interest Income	282	246	222	164	129
Deposits	131	129	96	23	14
Federal Funds Purchased	21,000	1	9	5	6,000
Notes Payable	624,000	1	1	202,000	61,000
FHLB Advances	11	9	7	1	831,000
Subordinated Debentures	6	4	4	5	5
Total Interest Expense	149	144	117	34	—
NET INTEREST INCOME	132	102	105	130	110
Provision for (Recovery of) Credit Losses	6	4	−175,000	8	5
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) CREDIT LOSSES	126	99	105	122	104
Customer Service Fees	2	1	1	1	1
Net Gain (Loss) on Sales of Available for Sale Securities	614,000	385,000	−33,000	82,000	750,000
Net Gain on Sales of Foreclosed Assets	—	62,000	—	—	—
Letters of Credit Fees	2	2	2	2	2
Debit Card Interchange Fees	640,000	593,000	595,000	586,000	563,000
Swap Fees	2	547,000	—	557,000	—
Bank-Owned Life Insurance	2	1	992,000	762,000	316,000
Investment Advisory Fees	973,000	—	—	—	—
FHLB Prepayment Income	301,000	—	792,000	—	—
Other Income	1	1	946,000	2	997,000
Total Noninterest Income	11	7	6	6	5
Salaries and Employee Benefits	47	40	37	37	31
Occupancy and Equipment	5	4	4	4	4
FDIC Insurance Assessment	3	3	4	1	1
Data Processing	3	2	2	1	1
Professional and Consulting Fees	5	4	3	3	3
Derivative Collateral Fees	1	2	2	687,000	3,000
Information Technology and Telecommunications	4	3	3	2	2
Marketing and Advertising	2	1	1	2	1
Intangible Asset Amortization	921,000	78,000	100,000	191,000	191,000
Other Expense	7	4	4	4	3
Total Noninterest Expense	77	63	59	57	48
INCOME BEFORE INCOME TAXES	60	43	53	72	62
Provision for Income Taxes	14	10	13	18	16
NET INCOME	46	33	40	53	46
Preferred Stock Dividends	−4	−4	−4	−4	−1
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	42	29	36	49	45
Basic (in dollars per share)	1.53	1.05	1.29	1.78	1.59
Diluted (in dollars per share)	1.49	1.03	1.27	1.72	1.54

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Cash Equivalents	124	230	129	87	143
Bank-Owned Certificates of Deposit	—	4	—	1	—
Securities Available for Sale, at Fair Value	776	768	604	549	—
Loans, Net of Allowance for Credit Losses of $56,443 at December 31, 2025, and $52,277 at December 31, 2024	4,244	3,809	3,667	3,512	—
Federal Home Loan Bank (FHLB) Stock, at Cost	21	19	17	20	5
Premises and Equipment, Net	52	50	49	48	49
Accrued Interest	19	18	17	13	9
Goodwill	12	12	3	3	3
Other Intangible Assets, Net	7	8	188,000	288,000	479,000
Bank-Owned Life Insurance	47	45	34	33	25
Other Assets	106	103	92	79	31
Total Assets	5,407	5,066	4,612	4,346	3,478
Noninterest Bearing	923	801	757	884	875
Interest Bearing	3,397	3,286	2,953	2,532	2,071
Total Deposits	4,320	4,087	3,710	3,417	2,946
Notes Payable	—	14	14	14	—
FHLB Advances	400	360	320	97	43
Subordinated Debentures, Net of Issuance Costs	109	80	79	79	92
Accrued Interest Payable	3	4	5	3	1
Other Liabilities	58	65	59	56	16
Total Liabilities	4,890	4,608	4,186	3,952	3,098
Preferred Stock- $0.01 par value; Authorized 10,000,000 Preferred Stock - Issued and Outstanding 27,600 Series A shares ($2,500 liquidation preference) at December 31, 2025 and December 31, 2024	67	67	67	67	67
Common Stock- $0.01 par value; Authorized 75,000,000 Common Stock - Issued and Outstanding 27,759,970 at December 31, 2025 and 27,552,449 at December 31, 2024	278,000	276,000	277,000	278,000	282,000
Additional Paid-In Capital	98	95	96	97	104
Retained Earnings	351	309	281	249	199
Accumulated Other Comprehensive Income (Loss)	561,000	−13	−18	−18	9
Total Shareholders' Equity	517	458	426	394	379
Total Liabilities and Equity	5,407	5,066	4,612	4,346	3,478

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Income	46	33	40	53	46
Net Amortization on Securities Available for Sale	−4	−1	10,000	2	3
Provision for Credit Losses on Loans and Leases	6	3	2	8	5
Provision (Credit) for Off-Balance Sheet Exposures	400,000	625,000	−2	—	—
Loan discount Accretion	−2	—	—	—	—
Depreciation of Premises and Equipment	3	2	3	3	2
Loss on Disposal of Premises and Equipment	6,000	—	20,000	18,000	—
Amortization of Right-of use Asset	558,000	559,000	534,000	497,000	—
Cash Surrender Value of Bank-Owned Life Insurance	−2	−1	−992,000	−762,000	—
Amortization of Subordinated Debt Issuance Costs	402,000	382,000	383,000	416,000	441,000
Net Gain on Sales of Foreclosed Assets	—	−62,000	—	—	—
Stock-based Compensation	4	4	4	3	2
Deferred Income Taxes	−2	24,000	676,000	−1	−5
Remeasurement of Interest Rate Swap	−30,000	—	—	—	—
Accrued Interest Receivable and Other Assets	−14	2	−21	−13	−4
Accrued Interest Payable and Other Liabilities	−9	3	4	31	4
Net Cash Provided by Operating Activities	28	46	30	85	54
Decrease in Bank-Owned Certificates of Deposit	4	—	1	695,000	984,000
Proceeds from Sales of Securities Available for Sale	77	102	29	64	12
Proceeds from Maturities, Paydowns, Payups and Calls of Securities Available for Sale	154	66	33	38	44
Purchases of Securities Available for Sale	−206	−245	−114	−268	−110
Net Increase in Loans	−439	−26	−158	−750	−493
Purchase of FHLB Stock	−60	−89	−87	—	—
Redemption of FHLB Stock	58	87	90	—	—
Purchases of Premises and Equipment	−6	−4	−3	−2	−777,000
Proceeds from Sales of Foreclosed Assets	185,000	496,000	116,000	—	—
Cash Received, Net of Cash Paid for Acquisition	—	17	—	—	—
Purchase of Bank-Owned Life Insurance	−5	−3	—	−7	−25
Redemption of Bank-owned Life Insurance	4	—	—	—	—
Net Cash Used in Investing Activities	−417	−95	−209	−938	−571
Net Increase in Deposits	234	119	293	470	445
Net Decrease in Federal Funds Purchased	—	—	−287	287	—
Principal Payments on Notes Payable	−14	—	—	—	−11
Proceeds from FHLB Advances	1,235	997	680	158	—
Principal Payments on FHLB Advances	−1,195	−957	−457	−104	−15
Issuance of Subordinated Debt, net of Issuance Costs	79	—	—	—	29
Redemption of Subordinated Debt	−50	—	—	−14	−11
Preferred Stock Dividends Paid	−4	−4	−4	−4	−1
Stock Options Exercised	2	763,000	963,000	577,000	724,000
Stock Repurchases	−2	−5	−5	−11	−2
Shares Repurchased for Tax Withholdings Upon Vesting of Restricted Stock-Based Awards	−713,000	−634,000	−457,000	−620,000	−439,000
Shares Repurchased for Tax Withholdings Upon Exercise of Stock Options	−33,000	−73,000	−129,000	−115,000	—
Net Cash Provided by Financing Activities	283	150	221	797	500
NET CHANGE IN CASH AND CASH EQUIVALENTS	−106	101	42	−56	−17
Cash Paid for Interest	150	145	114	32	19
Federal	8	3	6	—	—
Total Cash Paid for Income Taxes	14	6	10	21	19
Loans Transferred to Foreclosed Assets	185,000	434,000	116,000	—	—
Premises and Equipment Transferred to Other Assets	1	—	—	—	—
Fair Value of Assets Acquired	—	282	—	—	—
Fair Value of Liabilities Assumed	—	258	—	—	—
Net Assets Acquired	—	24	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro