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BWB

Bridgewater Bancshares, Inc.

BWB

Bridgewater Bancshares, Inc. • NASDAQ
$17.31 ▼ -1.20% (-0.21)
Market Cap $477.49 M
52w High $18.01
52w Low $11.93
Dividend Yield 0%
P/E 13.11
Volume 30.65K
Outstanding Shares 27.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $75.385M ▲ $19.647M ▲ $11.601M ▲ 15.389% ▼ $0.39 ▲ $16.09M ▲
Q2-2025 $72.453M ▲ $18.569M ▲ $11.52M ▲ 15.9% ▲ $0.38 ▲ $15.709M ▲
Q1-2025 $67.336M ▲ $17.685M ▲ $9.633M ▲ 14.306% ▲ $0.31 ▲ $14.076M ▲
Q4-2024 $65.431M ▲ $16.386M ▲ $8.204M ▼ 12.538% ▼ $0.26 ▼ $11.608M ▼
Q3-2024 $64.168M $15.379M $8.675M 13.519% $0.28 $11.959M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $509.034M ▼ $5.36B ▲ $4.863B ▲ $497.463M ▲
Q2-2025 $612.394M ▲ $5.297B ▲ $4.82B ▲ $476.282M ▲
Q1-2025 $214.091M ▼ $5.137B ▲ $4.668B ▲ $468.975M ▲
Q4-2024 $619.83M ▼ $5.066B ▲ $4.608B ▲ $457.935M ▲
Q3-2024 $856.574M $4.692B $4.239B $452.2M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.601M ▲ $9.376M ▲ $-137.023M ▼ $41.97M ▼ $-85.677M ▼ $7.775M ▲
Q2-2025 $11.52M ▲ $3.996M ▼ $-108.442M ▲ $155.736M ▲ $51.29M ▲ $2.83M ▼
Q1-2025 $9.633M ▲ $7.463M ▼ $-135.124M ▼ $64.106M ▼ $-63.555M ▼ $6.927M ▼
Q4-2024 $8.204M ▼ $34.577M ▲ $-87M ▼ $90.324M ▲ $37.901M ▼ $31.155M ▲
Q3-2024 $8.675M $-5.986M $62.065M $1.687M $57.766M $-6.45M

Five-Year Company Overview

Income Statement

Income Statement Bridgewater’s income statement shows a bank that has grown steadily in size but is facing profit pressure. Revenue has climbed each year, reflecting a larger loan book and broader client base. However, profitability peaked a few years ago and has softened since, with margins narrowing and net income drifting down from earlier highs. This pattern is typical of a bank dealing with higher funding costs and a tougher interest‑rate environment: more business on the books, but each dollar of business is a bit less profitable than before.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, with total assets stepping up year after year as the bank lends more and deepens its presence in its markets. Equity has also grown, which supports this larger balance sheet and signals retained earnings being built over time. At the same time, debt levels are notably higher than earlier in the period, pointing to greater reliance on borrowed funding to support growth. Cash levels move around but remain modest, which is normal for a growing regional bank, though it does mean funding and liquidity management remain important ongoing priorities.

Cash Flow

Cash Flow Cash generation has generally been positive, but it moves up and down from year to year. Operating cash flow and free cash flow both strengthened during the strong profit years and then dipped as conditions became more challenging, before improving again more recently. Capital spending is very light, which fits an asset‑light, service‑oriented banking model. Overall, the bank seems able to turn earnings into cash, but the volatility reminds us that cash flow for a growing lender can be sensitive to shifts in loan growth, deposit behavior, and the broader rate environment.

Competitive Edge

Competitive Edge Bridgewater sits in a clear niche: a Twin Cities–focused, entrepreneur‑centric bank competing against very large national players. Its edge is not about having the most advanced proprietary technology, but about speed, flexibility, and relationship depth, particularly in commercial real estate and with business owners and professionals. High customer retention and local decision‑making support a moat that is based on trust and service rather than price alone. The flip side is concentration risk: heavy exposure to one metro area and to commercial real estate, where local economic or property‑market stress could weigh more heavily on this bank than on a more diversified national competitor.

Innovation and R&D

Innovation and R&D Innovation at Bridgewater is mostly about business model and product tailoring, not writing new software. The bank leans on established core technology vendors, then differentiates through a high‑touch service culture, quick credit decisions, and niche offerings such as cannabis banking and specialized solutions for professionals and real estate investors. Its modern infrastructure and digital tools support this service model rather than define it. Future innovation will likely come from extending these niche programs and refining digital delivery, while carefully managing the risks that come with concentrated exposure to entrepreneurial clients and commercial real estate.

Summary

Overall, Bridgewater looks like a focused, growing regional bank that has successfully carved out a relationship‑driven niche but is now navigating a more demanding interest‑rate and credit environment. Growth in assets and revenue shows franchise momentum, yet earnings have come off their peak as margins compress. The balance sheet is larger and more leveraged, with a stronger equity base but greater dependence on borrowed funding. Its competitive strength lies in local expertise and high‑touch service, especially for entrepreneurs and real estate clients, supported by mainstream technology rather than disruptive innovation. Future performance will hinge on how well the bank balances continued niche growth with careful management of credit risk, funding costs, and its concentration in one region and in commercial real estate.

NEWS

November 24, 2025 · 8:00 AM UTC

Bridgewater Bank Welcomes Jeff Bajek as SVP, Senior Credit Officer

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October 21, 2025 · 4:15 PM UTC

Bridgewater Bancshares, Inc. Announces Third Quarter 2025 Financial Results

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October 7, 2025 · 4:15 PM UTC

Bridgewater Bancshares, Inc. to Announce Third Quarter 2025 Financial Results and Host Earnings Conference Call

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