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Bridgewater Bancshares, Inc. (BWB) is a dynamic and innovative financial institution dedicated to providing simple banking solutions and responsive service to both consumer and commercial clients. Based in the Twin Cities, Bridgewater Bank stands out in the competitive banking landscape by focusing on the unique needs of its customers and delivering services in an unconventional banking environment.
The company's core business involves a wide range of deposit and lending products, catering to the needs of both retail and commercial clients within the Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area. Bridgewater Bancshares offers commercial deposits, loans, online business services, credit cards, mobile banking, and remote deposit services.
Bridgewater Bancshares has built a reputation for its entrepreneurial spirit, largely due to its substantial shareholder base, which consists primarily of successful real estate developers and seasoned small business entrepreneurs. This ownership structure allows the bank's managing founders to provide unparalleled industry knowledge and a customer-focused approach that addresses the unique needs of each client.
Committed to being the finest entrepreneurial bank in the Twin Cities, Bridgewater Bank continually strives to enhance its product offerings and service quality. Recent achievements and ongoing projects reflect the bank's dedication to growth and innovation in the financial sector.
With a focus on maintaining a strong financial condition, Bridgewater Bancshares engages in strategic partnerships and initiatives that reinforce its market position and support its long-term goals. The company's responsive and personalized service model, combined with its diverse range of financial products, makes it a significant player in the Twin Cities banking industry.
- Commercial Deposits: Tailored solutions for businesses.
- Loans: Various lending options to meet individual and business needs.
- Online Business Services: Convenient banking for entrepreneurs on the go.
- Credit Cards: Flexible credit solutions for retail and commercial clients.
- Mobile Banking: Secure and easy access to account information.
- Remote Deposit Services: Efficient deposit solutions for businesses.
Bridgewater Bancshares continues to thrive by staying true to its mission of providing exceptional banking services with an owner's perspective, ensuring that every client receives the attention and solutions they need to succeed.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported a net income of $11.6 million for Q1 2023, down from $13.7 million in Q4 2022 and $12.3 million YoY. Earnings per diluted share decreased to $0.37 from $0.45 in Q4 2022 and $0.39 in Q1 2022. The net interest margin contracted to 2.72%, a decline from 3.16% in Q4 2022, reflecting higher funding costs. Total assets increased 5.9% to $4.60 billion, driven by strong loan growth, with gross loans up 3.2% QoQ. Despite a slight dip in deposits by 0.2% to $3.41 billion, the bank maintained a strong balance sheet with a tangible book value of $11.95 per share. The company declared a cash dividend of $36.72 per share on its Series A Preferred Stock, payable on June 1, 2023.
Bridgewater Bancshares, Inc. (NASDAQ: BWB) will release its Q1 2023 financial results on April 26, 2023, after market close. A conference call is scheduled for April 27, 2023, at 8:00 a.m. CT for discussing these results. Investors can join the call at 877-270-2148, with a replay available until May 4, 2023. The call will also be available via live webcast on the investor relations section of Bridgewater’s website. As of December 31, 2022, Bridgewater Bancshares has total assets of $4.3 billion and operates seven branches, positioning itself among the largest locally led banks in Minnesota.
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