Bridgewater Bancshares, Inc. operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, small business entrepreneurs, and high net worth individuals in the United States. It offers demand, savings and money market, time, interest and noninterest bearing transaction, and brokered deposits, as well as certificates of deposit. The company also provides commercial loans to sole proprietorships, partnerships, corporations, and other business enterprises to finance accounts receivable or inventory, capital assets, or other business related purposes; construction and land development loans; 1-4 family mortgage loans; multifamily lending products; owner and non-owner occupied commercial real estate loans; and consumer and other loans. It operates through seven full-service offices located in Bloomington, Greenwood, Minneapolis, St. Louis Park, Orono, and St. Paul, Minnesota. The company was founded in 2005 and is headquartered in Saint Louis Park, Minnesota.
IPO Year: 2018
Exchange: NASDAQ
Website: bridgewaterbankmn.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/4/2024 | Outperform | Hovde Group | |
| 1/17/2024 | $15.50 | Overweight | Piper Sandler |
| 1/27/2023 | $20.00 → $17.00 | Overweight → Neutral | Piper Sandler |
| 6/14/2022 | $21.00 → $18.00 | Buy → Neutral | B. Riley Securities |
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4 - Bridgewater Bancshares Inc (0001341317) (Issuer)
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced a significant milestone with the appointment of Joe Chybowski as President, effective April 26th, 2024. This strategic move, alongside pivotal leadership transitions, reaffirms Bridgewater's commitment to excellence and its vision for a dynamic future. Joe, currently serving as Chief Financial Officer, will take on the additional role of President, collaborating closely with Jerry Baack, the incumbent President & Chief Executive Officer, to chart a future characterized by strategic excellence and innovation. Jerry will retain his role as Chairman of the Board and CEO. This press release featu
Hovde Group resumed coverage of Bridgewater Bancshares with a rating of Outperform
Piper Sandler resumed coverage of Bridgewater Bancshares with a rating of Overweight and set a new price target of $15.50
Piper Sandler downgraded Bridgewater Bancshares from Overweight to Neutral and set a new price target of $17.00 from $20.00 previously
B. Riley Securities downgraded Bridgewater Bancshares from Buy to Neutral and set a new price target of $18.00 from $21.00 previously
B. Riley resumed coverage of Bridgewater Bancshares with a rating of Buy and set a new price target of $17.00 from $15.00 previously
Fourth Quarter 2024 Highlights Net income of $8.2 million, or $0.26 per diluted common share; adjusted net income of $8.6 million, or $0.27 per diluted common share.(1) Completed the acquisition of First Minnetonka City Bank (FMCB) in just 107 days following announcement. Net interest income increased $1.4 million, or 5.3%, from the third quarter of 2024. Net interest margin (on a fully tax-equivalent basis) of 2.32% for the fourth quarter of 2024, an increase of eight basis points from the third quarter of 2024. Core deposits(2) increased by $428.2 million, or 63.6% annualized, from the third quarter of 2024; core deposits excluding FMCB increased by $210.9 million, or 31.3%
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its fourth quarter 2024 financial results after the market closes on Wednesday, January 29, 2025. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, January 30, 2025 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through February 6, 2025 by dialing 877-344-7529 and entering access code 8644808. Webcast Details: The conference call will also be available via
Bridgewater Bancshares, Inc. (NASDAQ:BWB) ("Bridgewater"), the parent company of Bridgewater Bank, announced the completion of Bridgewater Bank's acquisition of First Minnetonka City Bank ("FMCB"), effective December 13, 2024. "We are excited to welcome First Minnetonka City Bank's team members and clients to Bridgewater as we demonstrate our unique culture, provide responsive service and simple solutions, and offer an enhanced suite of products and services," said Bridgewater Chairman and Chief Executive Officer, Jerry Baack. "This complementary acquisition aligns with and accelerates Bridgewater's strategic priorities, including our focus on continued growth within the Twin Cities commu
Third Quarter 2024 Highlights Tangible book value per share(1) of $13.96 for the third quarter of 2024, an increase of $0.43, or 12.8% annualized, compared to $13.53 for the second quarter of 2024. Pre-provision net revenue(1) increased $489,000, or 4.5%, from the second quarter of 2024. Net interest income increased $603,000, or 2.4%, from the second quarter of 2024. Net interest margin (on a fully tax-equivalent basis) of 2.24% for the third quarter of 2024, in line with the second quarter of 2024. Core deposits(2) increased by $93.6 million, or 14.4% annualized, from the second quarter of 2024. Total deposits decreased by $60.3 million from the second quarter of 2024, primarily
Bridgewater Bancshares, Inc. (NASDAQ:BWB) ("Bridgewater"), the parent company of Bridgewater Bank, and First Minnetonka City Bank announced today the receipt of all necessary regulatory approvals, including approval from the Federal Deposit Insurance Corporation and the Minnesota Department of Commerce, to complete Bridgewater Bank's previously announced acquisition of First Minnetonka City Bank. The acquisition is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241022287913/en/ About Bridgewater Bridgewater Bancshares, I
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its third quarter 2024 financial results after the market closes on Wednesday, October 23, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, October 24, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through October 31, 2024 by dialing 877-344-7529 and entering access code 1933700. Webcast Details: The conference call will also be available via a li
Bridgewater Bancshares, Inc. (NASDAQ:BWB) ("Bridgewater"), the parent company of Bridgewater Bank, and First Minnetonka City Bank announced today the signing of a definitive merger agreement under which Bridgewater Bank would acquire First Minnetonka City Bank in an all-cash transaction. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240828362372/en/ At the closing of the transaction, First Minnetonka City Bank will merge with and into Bridgewater Bank. The combined organization is expected to have approximately $4.9 billion in total assets, $4.0 billion in deposits, $3.9 billion in loan and leases, and nine full-service branche
Second Quarter 2024 Highlights Tangible book value per share(1) of $13.53 for the second quarter of 2024, an increase of $0.32, or 9.8% annualized, compared to $13.20 for the first quarter of 2024. Net interest income increased $365,000, or 1.5%, from the first quarter of 2024, the first quarter-over-quarter increase since the third quarter of 2022. Net interest margin (on a fully tax-equivalent basis) of 2.24% for the second quarter of 2024, in line with the first quarter of 2024. Loan-to-deposit ratio of 99.8%, compared to 99.4% at March 31, 2024. Gross loans increased $16.2 million, or 1.7% annualized, from the first quarter of 2024. On a year-to-date basis, gross loans in
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its second quarter 2024 financial results after the market closes on Wednesday, July 24, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, July 25, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through August 1, 2024 by dialing 877-344-7529 and entering access code 3041856. Webcast Details: The conference call will also be available via a live
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced a significant milestone with the appointment of Joe Chybowski as President, effective April 26th, 2024. This strategic move, alongside pivotal leadership transitions, reaffirms Bridgewater's commitment to excellence and its vision for a dynamic future. Joe, currently serving as Chief Financial Officer, will take on the additional role of President, collaborating closely with Jerry Baack, the incumbent President & Chief Executive Officer, to chart a future characterized by strategic excellence and innovation. Jerry will retain his role as Chairman of the Board and CEO. This press release featu
Fourth Quarter 2024 Highlights Net income of $8.2 million, or $0.26 per diluted common share; adjusted net income of $8.6 million, or $0.27 per diluted common share.(1) Completed the acquisition of First Minnetonka City Bank (FMCB) in just 107 days following announcement. Net interest income increased $1.4 million, or 5.3%, from the third quarter of 2024. Net interest margin (on a fully tax-equivalent basis) of 2.32% for the fourth quarter of 2024, an increase of eight basis points from the third quarter of 2024. Core deposits(2) increased by $428.2 million, or 63.6% annualized, from the third quarter of 2024; core deposits excluding FMCB increased by $210.9 million, or 31.3%
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its fourth quarter 2024 financial results after the market closes on Wednesday, January 29, 2025. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, January 30, 2025 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through February 6, 2025 by dialing 877-344-7529 and entering access code 8644808. Webcast Details: The conference call will also be available via
Third Quarter 2024 Highlights Tangible book value per share(1) of $13.96 for the third quarter of 2024, an increase of $0.43, or 12.8% annualized, compared to $13.53 for the second quarter of 2024. Pre-provision net revenue(1) increased $489,000, or 4.5%, from the second quarter of 2024. Net interest income increased $603,000, or 2.4%, from the second quarter of 2024. Net interest margin (on a fully tax-equivalent basis) of 2.24% for the third quarter of 2024, in line with the second quarter of 2024. Core deposits(2) increased by $93.6 million, or 14.4% annualized, from the second quarter of 2024. Total deposits decreased by $60.3 million from the second quarter of 2024, primarily
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its third quarter 2024 financial results after the market closes on Wednesday, October 23, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, October 24, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through October 31, 2024 by dialing 877-344-7529 and entering access code 1933700. Webcast Details: The conference call will also be available via a li
Second Quarter 2024 Highlights Tangible book value per share(1) of $13.53 for the second quarter of 2024, an increase of $0.32, or 9.8% annualized, compared to $13.20 for the first quarter of 2024. Net interest income increased $365,000, or 1.5%, from the first quarter of 2024, the first quarter-over-quarter increase since the third quarter of 2022. Net interest margin (on a fully tax-equivalent basis) of 2.24% for the second quarter of 2024, in line with the first quarter of 2024. Loan-to-deposit ratio of 99.8%, compared to 99.4% at March 31, 2024. Gross loans increased $16.2 million, or 1.7% annualized, from the first quarter of 2024. On a year-to-date basis, gross loans in
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its second quarter 2024 financial results after the market closes on Wednesday, July 24, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, July 25, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through August 1, 2024 by dialing 877-344-7529 and entering access code 3041856. Webcast Details: The conference call will also be available via a live
First Quarter 2024 Highlights Tangible book value per share(1) of $13.20 for the first quarter of 2024, an increase of $0.37, or 11.5% annualized, compared to $12.84 for the fourth quarter of 2023. Repurchased 193,802 shares of common stock at a weighted average price of $11.75 per share, for a total of $2.3 million. Gross loans increased $59.9 million, or 6.5% annualized, from the fourth quarter of 2023. Loan-to-deposit ratio of 99.4%, compared to 100.4% at December 31, 2023. Deposits increased by $97.3 million, or 10.5% annualized, from the fourth quarter of 2023, including an increase in core deposits(2) of $90.3 million, or 14.3% annualized. Net interest margin (on a f
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its first quarter 2024 financial results after the market closes on Wednesday, April 24, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, April 25, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, please dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through May 2, 2024 by dialing 877-344-7529 and entering access code 8126492. Webcast Details: The conference call will also be available via a live we
Fourth Quarter 2023 Highlights Deposit growth of $34.4 million, or 3.7% annualized, from the third quarter of 2023, exceeded gross loan growth which remained relatively stable from the third quarter of 2023, lowering the loan-to-deposit ratio to 100.4%. Net interest margin (on a fully tax-equivalent basis) of 2.27%, compared to 2.32% in the third quarter of 2023. No provision for credit losses on loans was recorded in the fourth quarter of 2023. The allowance for credit losses on loans to total loans was 1.36% at December 31, 2023 and September 30, 2023, respectively. Nonperforming assets to total assets of 0.02% at December 31, 2023 and September 30, 2023. Tangible book valu
Bridgewater Bancshares, Inc. (NASDAQ:BWB), the parent company of Bridgewater Bank, today announced that it will release its fourth quarter 2023 financial results after the market closes on Wednesday, January 24, 2024. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, January 25, 2024 at 8:00 a.m. Central Time. Conference Call Details: To join the conference call via phone, you may dial 844-481-2913 and request to join the Bridgewater Bancshares earnings call. A replay of the call will be available through February 1, 2024 by dialing 877-344-7529 and entering access code 4855149. Webcast Details: The conference call will also be available via a
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