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. reports developments as a Minnesota financial holding company and the parent of Bridgewater Bank, a full-service bank serving businesses, entrepreneurs and individuals across the Twin Cities. Company updates commonly address net interest income, net interest margin, loan and core deposit growth, asset quality, tangible book value trends and capital actions tied to its banking balance sheet.
Recurring news also covers Bridgewater Bank's deposit, lending, commercial real estate and treasury management services, branch expansion in the Twin Cities market, online banking capabilities, credit-risk leadership and specialized lending verticals such as C&I, SBA and affordable housing.
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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) will release its Q1 2023 financial results on April 26, 2023, after market close. A conference call is scheduled for April 27, 2023, at 8:00 a.m. CT for discussing these results. Investors can join the call at 877-270-2148, with a replay available until May 4, 2023. The call will also be available via live webcast on the investor relations section of Bridgewater’s website. As of December 31, 2022, Bridgewater Bancshares has total assets of $4.3 billion and operates seven branches, positioning itself among the largest locally led banks in Minnesota.