Welcome to our dedicated page for Bridgewater Bancshares news (Ticker: BWB), a resource for investors and traders seeking the latest updates and insights on Bridgewater Bancshares stock.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company and the parent of Bridgewater Bank, a premier, full-service bank serving businesses, entrepreneurs, and successful individuals across the Twin Cities. This news page aggregates company-issued updates and market-moving announcements related to BWB stock and Bridgewater’s banking operations.
Visitors can review press releases covering quarterly and annual financial results, where Bridgewater discusses net income, net interest income, net interest margin, loan and deposit growth, asset quality metrics, and capital ratios. These earnings updates often include commentary from management on strategic priorities, balance sheet trends, and the competitive environment in the Twin Cities banking market.
The news flow for Bridgewater Bancshares also features announcements about leadership and governance, such as executive appointments, succession planning, and board changes. Releases highlighting recognition of executives by regional business publications provide additional insight into the company’s corporate culture and management depth.
In addition, the company issues news on capital and funding actions, including private placements of subordinated notes structured to qualify as Tier 2 capital, and information about acquisitions such as the purchase of First Minnetonka City Bank. Updates on investor conference participation, earnings conference calls, and webcasts help investors track upcoming events where management discusses strategy and performance.
By following this page, users can access a centralized view of Bridgewater Bancshares’ official news, from financial results and capital initiatives to leadership developments and investor relations activities, all in one place.
Bridgewater Bancshares, Inc. (Nasdaq: BWB) has announced a strategic acquisition of First Minnetonka City Bank in an all-cash transaction. The merger will create a combined organization with approximately $4.9 billion in total assets, $4.0 billion in deposits, $3.9 billion in loans and leases, and nine full-service branches across the Twin Cities. First Minnetonka City Bank, founded in 1964, brings a granular core deposit base and a diversified loan mix to Bridgewater. The acquisition is expected to close during the fourth quarter of 2024, subject to regulatory approvals and customary closing conditions. This strategic move aligns with Bridgewater's priorities and expands its product offerings, including an investment advisory platform.
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 (Nasdaq: BWB) will release its Q2 2024 financial results after the market closes on July 24, 2024. The company will discuss these results in a conference call and webcast on July 25, 2024, at 8:00 a.m. Central Time. To join the call, dial 844-481-2913. A replay will be available until August 1, 2024, by dialing 877-344-7529 with access code 3041856. The webcast will be live on Bridgewater's Investor Relations website and archived for later access.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Bridgewater Bancshares (BWB)?
What is the market cap of Bridgewater Bancshares (BWB)?
