Bridgewater Bancshares, Inc. - BWB STOCK NEWS

Bridgewater Bancshares, Inc. (Nasdaq: BWB) has been recognized as the 14th best-performing community bank in S&P Global Market Intelligence’s annual ranking for 2022, specifically for institutions with $3 billion to $10 billion in assets. This marks the second consecutive year of recognition for Bridgewater, highlighting its efficient business model and strong asset quality. As the highest-ranked bank in Minnesota, Bridgewater emphasizes its positive impact within the Twin Cities market. The rankings assess banks based on returns, growth, efficiency, and balance sheet strength. Bridgewater holds total assets of $4.3 billion with seven branches as of December 31, 2022.

Bridgewater Bank, a prominent Twin Cities bank and subsidiary of Bridgewater Bancshares (Nasdaq: BWB), recently announced that its Bridgewater Corporate Center in St. Louis Park, MN, has achieved the U.S. EPA's ENERGY STAR certification for superior energy performance. This certification signifies that the building ranks among the top 25 percent of energy-efficient buildings nationwide based on verified energy performance. President and CEO Jerry Baack emphasized the bank's commitment to sustainability and ESG priorities through this achievement. As of December 31, 2022, Bridgewater Bank reported assets exceeding $4.3 billion and continues to grow within the Minnesota banking landscape.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported a fourth-quarter net income of $13.7 million, down 5.4% from Q3 2022 but up 9.8% from Q4 2021. Earnings per diluted share were $0.45, a 5.6% decrease from the previous quarter. The company noted strong balance sheet growth, with gross loans increasing by $189.4 million (22.2% annualized) and deposits up $111.5 million (13.4% annualized). However, net interest margin compressed to 3.16% from 3.53% in Q3 due to rising interest rates. The company expects ongoing challenges in 2023 but intends to focus on profitable growth. Annual earnings per share for 2022 increased 12.0% to $1.72 compared to 2021.

Bridgewater Bancshares, Inc. (BWB) will release its fourth quarter 2022 financial results on January 25, 2023, after market close. The company will host a conference call and webcast on January 26, 2023, at 8:00 a.m. Central Time, to discuss these results. Interested parties can join via phone or through a live webcast available on the investor relations section of Bridgewater's website. As of September 30, 2022, Bridgewater Bancshares reported total assets of $4.1 billion and operates seven branches in Minnesota.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported record net income of $14.5 million for Q3 2022, reflecting a 12.7% increase quarter-over-quarter and a 26.1% increase year-over-year. Diluted EPS rose to $0.47, up 14.6% sequentially and 19.4% annually. The company experienced strong loan growth of 19.0% annualized and a 12.8% annualized increase in deposits. Despite rising interest rates impacting margins, Bridgewater's efficiency ratio improved to 39.4%, and tangible book value per share increased to $11.33. A quarterly dividend of $36.72 per share for Series A Preferred Stock was also declared.

Bridgewater Bancshares, Inc. (NASDAQ: BWB) has been recognized in the Piper Sandler Sm-All Stars Class of 2022, an accolade awarded to top-performing small-cap banks with a market cap under $2.5 billion. Out of over 360 evaluated institutions, only 35 were selected, with Bridgewater being the only Minnesota-based bank honored. This marks the third time the bank has received this distinction, previously awarded in 2018 and 2020. The recognition highlights the bank's commitment to growth, profitability, and excellent client relationships.

Bridgewater Bancshares (BWB) has announced a new stock repurchase program, allowing up to $25 million for repurchasing common stock. This program replaces the previous $40 million program, which had $1.6 million remaining as of August 17, 2022. The new program, effective from August 17, 2022, will run until August 16, 2024. While the repurchase is subject to market conditions, the company retains discretion to modify or discontinue the program as it sees fit.

Bridgewater Bancshares reported a net income of $12.9 million for Q2 2022, a 5.1% increase from Q1 2022 and a 17.2% increase year-over-year. Diluted EPS rose 6.8% and 9.2% from the previous quarter and year, respectively, reaching $0.41. The bank experienced a 31.9% annualized growth in gross loans and 22.0% in deposits. Net interest margin remained stable at 3.58%. The board declared a quarterly cash dividend of $36.72 per share of its Series A Preferred Stock, payable on September 1, 2022.

Bridgewater Bancshares reported net income of $12.3 million for Q1 2022, a 2.0% decrease from Q4 2021 but a 14.9% increase year-over-year. Earnings per diluted share remained stable at $0.39. Loan growth was strong, with gross loans increasing 24.2% annualized, and deposits grew by 12.3%. The net interest margin improved to 3.60%, while net charge-offs remained at 0.00%. A quarterly cash dividend of $36.72 per share of Series A Preferred Stock (BWBBP) was also declared.