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24.06.25 - 22:18
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Bridgewater Bancshares, Inc. Completes Private Placement of $80.0 Million of 7.625% Fixed-to-Floating Rate Subordinated Notes (Business Wire)
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ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the “Company”), the parent company of Bridgewater Bank, today announced the completion of a private placement of $80.0 million in aggregate principal amount of 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). The Company intends to use the net proceeds of the private placement of the Notes to redeem $50.0 million of outstanding 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes.
The Notes will initially bear interest at an annual rate of 7.625% from June 24, 2025 to June 30, 2030, with interest during this period payable semi-annually in arrears. From June 30, 2030 to the stated maturity date or early redemption date, the interest rate will be reset quarterly to an annual floating rate equal to the then current three-month term Secured Overnight Financing Rate (SOFR) plus 388 basis points, with interest during this period payable quarterly in arrears....
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23.04.25 - 22:54
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Bridgewater Bancshares, Inc. Announces First Quarter 2025 Financial Results (Business Wire)
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First Quarter 2025 Highlights
Net income of $9.6 million, or $0.31 per diluted common share; adjusted net income of $10.1 million, or $0.32 per diluted common share.(1)
Pre-provision net revenue(1) increased $1.5 million, or 11.5%, from the fourth quarter of 2024.
Net interest income increased $3.2 million, or 12.0%, from the fourth quarter of 2024.
Net interest margin (on a fully tax-equivalent basis) of 2.51% for the first quarter of 2025, an increase of 19 basis points from the fourth quarter of 2024.
Gross loans increased by $151.6 million, or 15.9% annualized, from the fourth quarter of 2024.
Total deposits increased by $75.7 million, or 7.5% annualized, from the fourth quarter of 2024; core deposits(2) increased by $63.7 million, or 8.3% annualized, from the fourth quarter of 2024.
Efficiency ratio(1) of 55.5%, down from 56.8% for the fourth quarter of 2024; adjusted efficiency ratio(1) of 53.7%, down from 55.2% for the fourth quarter of 2024.
Annualized net loan charge-offs as a percentage of avera...
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08.04.25 - 22:21
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Bridgewater Bancshares, Inc. to Announce First Quarter 2025 Financial Results and Host Earnings Conference Call (Business Wire)
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ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--Bridgewater Bancshares, Inc. (Nasdaq: BWB), the parent company of Bridgewater Bank, today announced that it will release its first quarter 2025 financial results after the market closes on Wednesday, April 23, 2025. Bridgewater will then host a conference call and webcast to discuss the results on Thursday, April 24, 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 May 1, 2025 by dialing 877-344-7529 and entering access code 9827138.
Webcast Details:
The conference call will also be available via a live webcast on the Investor Relations section of Bridgewater's website, investors.bridgewaterbankmn.com, and archived for replay.
About Bridgewater
Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company founded in 2005. Its banking subsidiary...
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29.01.25 - 22:18
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Bridgewater Bancshares, Inc. Announces Fourth Quarter 2024 Financial Results (Business Wire)
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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% annualized.
Gross loans increased by $182.9 million, or 19.7% annualized, from the third quarter of 2024; gross loans excluding FMCB increased by $65.8 million, or 7.1% annualized.
Annualized net loan charge-offs as a percentage of average loans of 0.03%, compared to 0.10% for the third quarter of 2024.
Full Year 2024 Highlights
Net ...
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07.01.25 - 22:18
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Bridgewater Bancshares, Inc. to Announce Fourth Quarter 2024 Financial Results and Host Earnings Conference Call (Business Wire)
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ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--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 a live webcast on the Investor Relations section of Bridgewater's website, investors.bridgewaterbankmn.com, and archived for replay.
About Bridgewater
Bridgewater Bancshares, Inc. is a St. Louis Park, Minnesota-based financial holding company. Bridgewater's banking subsidiary, Bridgew...
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