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Bridgewater Banc, Inc. (BWBBP) delivers responsive banking solutions to commercial and consumer clients in the Twin Cities region. This news hub provides investors and stakeholders with essential updates on the company’s financial performance and strategic direction.
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Bridgewater Bancshares (BWB) reported strong Q1 2025 financial results with net income of $9.6 million, or $0.31 per diluted share. The company's adjusted net income reached $10.1 million ($0.32 per diluted share).
Key highlights include:
- Net interest income increased by $3.2 million (12.0%) from Q4 2024
- Net interest margin expanded to 2.51%, up 19 basis points from Q4 2024
- Gross loans grew by $151.6 million (15.9% annualized)
- Total deposits increased by $75.7 million (7.5% annualized)
- Efficiency ratio improved to 55.5% from 56.8% in Q4 2024
- Tangible book value per share reached $13.89, showing a 12.2% annualized increase
The bank maintained strong asset quality with minimal net loan charge-offs (0.00%) and nonperforming assets to total assets of 0.20%. The company also repurchased 45,005 shares at an aggregate purchase price of $0.6 million.
Bridgewater Bancshares (BWB) reported Q4 2024 net income of $8.2 million ($0.26 per diluted share), compared to $8.7 million in Q3 2024 and $8.9 million in Q4 2023. The company completed the acquisition of First Minnetonka City Bank (FMCB) in 107 days.
Key Q4 highlights include: net interest income increased 5.3% to $27.0 million, net interest margin expanded to 2.32%, core deposits grew 63.6% annualized, and gross loans increased 19.7% annualized. Asset quality remained strong with net loan charge-offs at 0.03%.
Full-year 2024 results showed net income of $32.8 million ($1.03 per diluted share), total deposits increased 10.2%, and gross loans grew 3.9%. The loan-to-deposit ratio improved to 94.7% from 100.4% year-over-year, while tangible book value per share increased 5.1% to $13.49.
Bridgewater Bancshares (BWB) reported Q3 2024 net income of $8.7 million, or $0.27 diluted earnings per share, compared to $8.1 million in Q2 2024. Key highlights include a stable net interest margin of 2.24%, core deposit growth of $93.6 million (14.4% annualized), and a decrease in total deposits by $60.3 million. Gross loans decreased by $114.8 million due to elevated payoffs. The company maintained strong asset quality with an allowance for credit losses on loans at 1.38%. The efficiency ratio improved to 58.0% from 58.7% in Q2. The company also announced the strategic acquisition of First Minnetonka City Bank, expected to close in Q4 2024.
Bridgewater Bancshares (Nasdaq: BWB) reported a second-quarter 2024 net income of $8.1 million, up from $7.8 million in Q1 2024 but down from $9.8 million in Q2 2023. Earnings per diluted share were $0.26, compared to $0.24 in Q1 2024 and $0.31 in Q2 2023. Net interest income rose by $365,000 to $25.0 million, marking the first sequential increase since Q3 2022. The net interest margin stayed flat at 2.24%. Tangible book value per share increased by $0.32 to $13.53. Gross loans grew by $16.2 million, while deposits increased marginally by $487,000. Efficiency ratio increased to 58.7% from 58.2% in Q1. The bank repurchased 252,707 shares at an average price of $11.48 per share, totaling $2.9 million.
Asset quality remained strong with nonperforming assets at 0.01% of total assets. The allowance for credit losses to total loans was 1.37%. The company has maintained 30 consecutive quarters of tangible book value per share growth.
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) 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.
