Bridgewater Bancshares Inc Stock Price, News & Analysis

Bridgewater Bank, a prominent Twin Cities bank and subsidiary of Bridgewater Bancshares (Nasdaq: BWB), has increased its minimum wage to $20 per hour for all full-time employees, effective August 1, 2021. This marks an 11% rise from the previous wage and impacts 14% of its workforce. With Minnesota's current minimum wage at $10.08, Bridgewater's decision positions it among the few local companies to adopt such a wage. The bank offers competitive benefits, including comprehensive healthcare, 401(k) matching, and professional development opportunities, supporting its reputation as an employer of choice.

Bridgewater Bancshares (Nasdaq: BWB) announced a successful private placement of $30 million in subordinated notes with a fixed-to-floating interest rate. These 3.25% notes are due 2031 and will support the company’s organic growth, capital ratios, and potential debt repurchases. Interest rates are fixed until mid-2026, after which they will float based on the SOFR plus 252 basis points. The notes qualify as Tier 2 capital for regulatory purposes. Piper Sandler acted as placement agent, with legal support from Barack Ferrazzano Kirschbaum & Nagelberg LLP.

Bridgewater Bank has appointed Joseph Birkholz as Chief Risk Officer, enhancing its risk management capabilities. Birkholz brings over 15 years of experience, previously serving as Senior Vice President of Risk Operations at TCF Bank. His expertise will be pivotal in developing risk frameworks and credit risk analytics, crucial as the bank continues its growth trajectory. As of March 31, 2021, Bridgewater Bank has assets exceeding $3.07 billion and operates seven branches, catering to a diverse clientele of high-net-worth individuals and entrepreneurs.

Bridgewater Bank has appointed Justin Horstman as the new Director of Investor Relations. With nearly 15 years of experience, Horstman previously worked at TCF Bank, where he managed investor relations functions. In his new role, he will oversee the investor relations program and serve as the main contact for the investment community. Bridgewater Bank, recognized for its growth and service quality, has over $3.07 billion in assets and is one of the largest locally led banks in Minnesota.

Bridgewater Bancshares, Inc. (BWB) announced a net income of $10.7 million for Q1 2021, a 43.4% increase from $7.4 million in Q1 2020. Earnings per diluted share rose 46.1% to $0.37. The bank's total assets surpassed $3.0 billion for the first time, and employee count exceeded 200. Despite challenges from the pandemic, the bank achieved a stable net interest margin of 3.60%. Gross loans grew by 21.1% year-over-year, while deposits increased by 38.9%.

Bridgewater Bancshares (BWB) reported a net income of $5.0 million, or $0.17 per diluted share, for Q4 2020, down from $7.2 million in Q3 and $8.6 million in Q4 2019. The decline was primarily due to FHLB prepayment fees of $5.6 million. Despite this, the bank achieved a 14.6% increase in net interest income from Q3 to Q4, totaling $24.8 million. Deposits surged by 37.2% year-over-year, reflecting robust growth. The net interest margin improved to 3.61%. Looking ahead, the company remains optimistic with strong core earnings and adequate loan loss reserves, though it acknowledges ongoing uncertainties due to the COVID-19 pandemic.

Bridgewater Bancshares, Inc. (NASDAQ: BWB) has announced a $15 million increase to its stock repurchase program, bringing the total to $40 million. The program has been extended until October 27, 2022. As of October 28, 2020, approximately $17.6 million remains authorized for repurchase, following around $22.4 million of shares already repurchased since January 2019. CEO Jerry Baack emphasized the company’s strong financial status, allowing for this enhanced commitment to shareholder value amid economic impacts of the COVID-19 pandemic.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported a net income of $7.2 million, or $0.25 per diluted share, for Q3 2020, a decline from $7.6 million in Q2 2020 and $7.8 million in Q3 2019. The company highlighted the completion of its new corporate headquarters and emphasized strong loan and deposit growth, with loans increasing by $65.5 million and deposits by $31.0 million. However, a loan loss provision of $3.8 million was made due to COVID-19 economic impacts, raising the allowance for loan losses to 1.39% of total loans. The efficiency ratio increased to 41.7% from 40.4%. Overall, the results reflect ongoing adjustments to the low interest rate environment.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) has been recognized in the Piper Sandler Sm-All Stars Class of 2020, distinguishing itself as one of only 35 small-cap banks in the U.S. and the only bank from Minnesota on the list. The selection process evaluated over 300 banks based on growth, profitability, credit quality, and capital strength. Since its public debut in 2018, Bridgewater has made this prestigious designation twice, highlighting its commitment to delivering shareholder value amidst challenging market conditions.