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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 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.
Bridgewater Bancshares, Inc. (NASDAQ: BWB) has been recognized as the fifth best-performing community bank in S&P Global Market Intelligence’s annual ranking for 2021, specifically among banks with assets between $3 billion and $10 billion. This accolade highlights the bank's strong loan growth and efficient business model. CEO Jerry Baack attributes this achievement to the dedication of their team and the attraction of top talent in the Twin Cities market. With total assets of $3.5 billion, Bridgewater Bank is among Minnesota's largest locally led banks.
Bridgewater Bancshares reported a net income of $12.5 million for Q4 2021, up 8.7% from Q3 2021 and a remarkable 151.3% increase from Q4 2020. Diluted earnings per share were $0.39, slightly down from $0.40 in Q3 2021, but up significantly from $0.17 a year ago. The bank experienced strong loan production with gross loans rising 15.7% annualized in Q4. Deposits also grew by 12.8%. A quarterly cash dividend of $36.72 per share on Series A Preferred Stock is set for March 1, 2022. For 2021, diluted earnings per share reached $1.54, a 64.8% increase year-over-year.
Bridgewater Bancshares announced a net income of $11.5 million for Q3 2021, up 4.7% from Q2 2021 and 60.4% year-over-year. Diluted earnings per share increased to $0.40, reflecting strong organic loan growth and capital-raising efforts. Total assets rose to $3.39 billion, a 22.1% increase from last year. Gross loans reached $2.71 billion, up 20.0% year-over-year. The adjusted efficiency ratio remained stable at 41.5%. Loan loss provisions decreased to $1.3 million, while the allowance for loan losses was 1.43% of total loans.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) has declared a quarterly cash dividend of $42.43 per share on its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: BWBBP). This dividend, amounting to $0.4243 per depositary share, will be payable on December 1, 2021, to shareholders on record as of November 15, 2021. With total assets of $3.2 billion and a strong growth history, Bridgewater Bank continues to position itself as a leading financial institution in Minnesota.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) announced the successful completion of a public offering of 2,760,000 depositary shares, representing 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. The offering raised $69.0 million in gross proceeds, with net proceeds of $66.5 million after expenses. These funds will support organic growth, enhance capital ratios, and may be used for debt repurchase. The depositary shares commenced trading on August 18, 2021, under the symbol BWBBP.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) has successfully closed its public offering of 2,400,000 depositary shares representing a 1/100th interest in 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. The offering generated approximately $57.8 million in net proceeds, which will support organic growth and enhance capital ratios. Dividends on the Series A Preferred Stock will be paid quarterly at an annual rate of 5.875%, commencing December 1, 2021. The depositary shares will trade on Nasdaq under the symbol 'BWBBP.'
Bridgewater Bancshares, Inc. (Nasdaq: BWB) has announced the pricing of its public offering of 2,400,000 depositary shares, representing a 1/100th interest in 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, expected to generate gross proceeds of $60 million. The offering includes a 30-day option for underwriters to purchase an additional 360,000 shares. Proceeds will be used for general corporate purposes and supporting growth plans. The offering is set to close around August 17, 2021, with dividends payable quarterly starting December 1, 2021.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) has announced an underwritten public offering of depositary shares, each representing a 1/100th interest in its Non-Cumulative Perpetual Preferred Stock, Series A. The offering price is set at $25.00 per depositary share with a liquidation preference of $2,500 each. Proceeds will support growth, enhance capital ratios, and manage existing debt. D.A. Davidson & Co. and Performance Trust Capital Partners, LLC are the lead managers. The company plans to file for a Nasdaq listing for the shares.
Bridgewater Bancshares reported a net income of $11.0 million for Q2 2021, a 3.0% increase from Q1 2021 and a 44.7% rise from Q2 2020. Earnings per share rose to $0.38, up 2.4% from Q1 2021 and 44.9% from the previous year. The bank experienced robust organic loan growth, with gross loans increasing by $168.1 million, or 27.8% annualized, and deposits climbing by $82.3 million. The net interest margin was 3.52%, down from 3.60% in Q1 2021. Subsequent to the quarter, it completed a $30.0 million private placement of subordinated notes.
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