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Bridgewater Bancshares Inc
BWBBPCIK 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 | Trend | 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 | Trend | 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 | Trend | 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
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Frequently asked questions
What is Bridgewater Bancshares Inc's CIK number?
Bridgewater Bancshares Inc's SEC CIK number is 0001341317 (1341317). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Bridgewater Bancshares Inc's SEC filings?
All of Bridgewater Bancshares Inc's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Bridgewater Bancshares Inc last report earnings?
Bridgewater Bancshares Inc (BWBBP) most recently filed an earnings 8-K with the SEC on Apr 21, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-046020). This is Bridgewater Bancshares Inc's most recent earnings filing of record — not a forecast of its next earnings date.
What is Bridgewater Bancshares Inc's most recent earnings 8-K?
Bridgewater Bancshares Inc's latest earnings 8-K (Item 2.02) was filed Apr 21, 2026 under accession 0001104659-26-046020. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Bridgewater Bancshares Inc's latest earnings 8-K →
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