Bridgewater Bancshares Inc Earnings Per Share Disclosure
Note 3: Earnings Per Share
Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of common shares adjusted for the dilutive effect of stock compensation. For the years ended December 31, 2025, 2024 and 2023, 557,832, 786,830 and 1,096,472, respectively, of stock options and restricted stock units were excluded from the calculation because they were deemed to be antidilutive.
The following table presents the numerators and denominators for basic and diluted earnings per share computations for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31, | |||||||||
(dollars in thousands, except per share data) | | 2025 | | 2024 | | 2023 | |||
Net Income Available to Common Shareholders | $ | 42,034 | $ | 28,771 | $ | 35,906 | |||
Weighted Average Common Stock Outstanding: | |||||||||
Weighted Average Common Stock Outstanding (Basic) | 27,544,024 | 27,479,764 | 27,857,420 | ||||||
Dilutive Effect of Stock Compensation | 625,833 | 463,578 | 458,167 | ||||||
Weighted Average Common Stock Outstanding (Dilutive) | 28,169,857 | 27,943,342 | 28,315,587 | ||||||
Basic Earnings per Common Share | $ | 1.53 | $ | 1.05 | $ | 1.29 | |||
Diluted Earnings per Common Share | 1.49 | 1.03 | 1.27 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Mar 8, 2022 | |
| 2020 | Mar 11, 2021 | |
| 2019 | Mar 12, 2020 | |
| 2018 | Mar 14, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.