Bridgewater Bancshares, Inc. (BWB) Financial Statements (2024 and earlier)

Company Profile

Business Address 4450 EXCELSIOR BLVD.
ST. LOUIS PARK, MN 55416
State of Incorp. MN
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments177,101209,19287,04375,49673,51771,887
Cash and cash equivalents177,101209,19287,04375,49673,51771,887
Financing receivable, accrued interest, after allowance for credit loss10,0009,500    
Total current assets:187,101218,69287,04375,49673,51771,887
Noncurrent Assets
Operating lease, right-of-use asset   2,472   
Property, plant and equipment49,71047,80148,44548,94149,29449,044
Intangible assets, net (including goodwill)2,8322,8663,2022,9623,0093,057
Goodwill2,6262,6262,6262,6262,6262,626
Intangible assets, net (excluding goodwill)206240576336383431
Amortization method qualified affordable housing project investments   6,486   
Total noncurrent assets:52,54250,66760,60551,90352,30352,101
Other undisclosed assets4,363,5424,333,5404,198,0144,001,5883,757,4443,483,932
TOTAL ASSETS:4,603,1854,602,8994,345,6624,128,9873,883,2643,607,920
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt115,500115,50083,00055,000  
Total current liabilities:115,500115,50083,00055,000  
Noncurrent Liabilities
Liabilities, other than long-term debt   323   
Qualified affordable housing project investments, commitment   323   
Total noncurrent liabilities:   323   
Other undisclosed liabilities4,078,5594,085,3933,868,2753,691,9803,508,3813,228,479
Total liabilities:4,194,0594,200,8933,951,5983,746,9803,508,3813,228,479
Equity
Equity, attributable to parent409,126402,006394,064382,007374,883379,441
Preferred stock66,51466,51466,51466,51466,51466,514
Common stock280278278276277282
Additional paid in capital99,04497,71696,52995,97396,689103,756
Accumulated other comprehensive loss(20,908)(17,896)(17,942)(16,720)(11,061)(1,707)
Retained earnings264,196255,394248,685235,964222,464210,596
Total equity:409,126402,006394,064382,007374,883379,441
TOTAL LIABILITIES AND EQUITY:4,603,1854,602,8994,345,6624,128,9873,883,2643,607,920

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues47,77144,89942,51837,66634,41031,744
Net investment income47,72144,95542,48837,66634,35831,744
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (50)(625)  (3,025)(1,675)
Gross profit:47,72144,27442,51837,66631,38530,069
Operating expenses(1,075)(1,209)(1,177)(1,086)(1,042)(1,085)
Operating income:46,64643,06541,34136,58030,34328,984
Interest and debt expense(29,129)(23,425)(15,967)(8,264)(5,252)(4,514)
Income from continuing operations before equity method investments, income taxes:17,51719,64025,37428,31625,09124,470
Other undisclosed loss from continuing operations before income taxes(4,668)(3,938)(7,446)(8,491)(7,688)(7,916)
Income from continuing operations before income taxes:12,84915,70217,92819,82517,40316,554
Income tax expense(3,033)(4,060)(4,193)(5,312)(4,521)(4,292)
Income from continuing operations:9,81611,64213,73514,51312,88212,262
Income before gain (loss) on sale of properties:14,51312,88212,262
Net income attributable to parent:9,81611,64213,73514,51312,88212,262
Preferred stock dividends and other adjustments(1,014)(1,013)(1,014)(1,013)(1,014)(1,013)
Net income available to common stockholders, diluted:8,80210,62912,72113,50011,86811,249

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:9,81611,64213,73514,51312,88212,262
Other comprehensive income (loss)(3,012)46(1,222)(5,659)(9,354)(10,713)
Comprehensive income, net of tax, attributable to parent:6,80411,68812,5138,8543,5281,549

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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