Bridgewater Bancshares Inc

For the period ended Oct 21, 2025. Filed Oct 21, 2025.

About this filing

A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Oct 21, 2025 · Filed Oct 21, 2025

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BWB$20.28+0.0%Stored close · as of Nov 6, 2026

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Contents

EX-99.1 · (dollars in thousands, except share data)

(dollars in thousands, except share data)


· · As of and for the Three Months Ended ·
· · September 30, · · June 30, · · March 31, · · December 31, · September 30,
(dollars in thousands) · 2025 · 2025 · 2025 · 2024 · 2024
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Income Statement
Net Interest Income	$34,091	$32,452	$30,208	$26,967	$25,599
Provision for Credit Losses	1,100	2,000	1,500	2,175	—
Noninterest Income	2,061	3,627	2,079	2,533	1,522
Noninterest Expense	19,956	18,941	18,136	16,812	15,760
Net Income	11,601	11,520	9,633	8,204	8,675
Net Income Available to Common Shareholders	10,588	10,506	8,620	7,190	7,662

Per Common Share Data
Basic Earnings Per Share	$0.38	$0.38	$0.31	$0.26	$0.28
Diluted Earnings Per Share	0.38	0.38	0.31	0.26	0.27
Adjusted Diluted Earnings Per Share (1)	0.39	0.37	0.32	0.27	0.28
Book Value Per Share	15.62	14.92	14.60	14.21	14.06
Tangible Book Value Per Share (1)	14.93	14.21	13.89	13.49	13.96
Basic Weighted Average Shares Outstanding	27,504,840	27,460,982	27,568,772	27,459,433	27,382,798
Diluted Weighted Average Shares Outstanding	28,190,406	27,998,008	28,036,506	28,055,532	27,904,910
Shares Outstanding at Period End	27,584,732	27,470,283	27,560,150	27,552,449	27,425,690

Financial Ratios
Return on Average Assets (2)	0.86%	0.90%	0.77%	0.68%	0.73%
Pre-Provision Net Revenue Return on Average Assets (1)(2)	1.19	1.27	1.13	1.05	0.96
Return on Average Shareholders' Equity (2)	9.47	9.80	8.39	7.16	7.79
Return on Average Tangible Common Equity (1)(2)	10.50	10.93	9.22	7.43	8.16
Net Interest Margin (3)	2.63	2.62	2.51	2.32	2.24
Core Net Interest Margin (1)(3)	2.52	2.49	2.37	2.24	2.16
Cost of Total Deposits	3.19	3.16	3.18	3.40	3.58
Cost of Funds	3.25	3.19	3.17	3.38	3.54
Efficiency Ratio (1)	54.7	52.6	55.5	56.8	58.0
Noninterest Expense to Average Assets (2)	1.47	1.47	1.45	1.40	1.33

Adjusted Financial Ratios (1)
Adjusted Return on Average Assets	0.88%	0.88%	0.80%	0.71%	0.75%
Adjusted Pre-Provision Net Revenue Return on Average Assets (2)	1.23	1.31	1.18	1.09	0.98
Adjusted Return on Average Shareholders' Equity	9.77	9.64	8.77	7.49	7.96
Adjusted Return on Average Tangible Common Equity	10.86	10.74	9.68	7.82	8.36
Adjusted Efficiency Ratio	53.2	51.5	53.7	55.2	57.2
Adjusted Noninterest Expense to Average Assets	1.43	1.43	1.41	1.36	1.31

Balance Sheet
Total Assets	$5,359,994	$5,296,673	$5,136,808	$5,066,242	$4,691,517
Total Loans, Gross	4,214,554	4,145,799	4,020,076	3,868,514	3,685,590
Deposits	4,292,764	4,236,742	4,162,457	4,086,767	3,747,442
Total Shareholders' Equity	497,463	476,282	468,975	457,935	452,200
Loan to Deposit Ratio	98.2%	97.9%	96.6%	94.7%	98.3%
Core Deposits to Total Deposits (4)	76.4	75.2	76.2	76.0	71.5

Asset Quality
Net Loan Charge-Offs to Average Loans (2)	0.03%	0.00%	0.00%	0.03%	0.10%
Nonperforming Assets to Total Assets (5)	0.19	0.19	0.20	0.01	0.19
Allowance for Credit Losses to Total Loans	1.34	1.35	1.34	1.35	1.38


· · As of and for the Three Months Ended ·
· · September 30, · · June 30, · · March 31, · · December 31, · September 30, ·
(dollars in thousands) · 2025 · 2025 · 2025 · 2024 · 2024 ·
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Capital Ratios (Consolidated) (6)
Tier 1 Leverage Ratio	9.02%	9.14%	9.10%	9.45%	9.75%
Common Equity Tier 1 Risk-based Capital Ratio	9.08	9.03	9.03	9.08	9.79
Tier 1 Risk-based Capital Ratio	10.52	10.51	10.55	10.64	11.44
Total Risk-based Capital Ratio	14.12	14.17	13.62	13.76	14.62
Tangible Common Equity to Tangible Assets (1)	7.71	7.40	7.48	7.36	8.17

(1)	Represents a non-GAAP financial measure. See "Non-GAAP Financial Measures" for further details.

(2)	Annualized.

(3)	Amounts calculated on a tax-equivalent basis using the statutory federal tax rate of 21%.

(4)	Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000.

(5)	Nonperforming assets are defined as nonaccrual loans plus 90 days past due and still accruing plus foreclosed assets.

(6)	Preliminary data. Current period subject to change prior to filings with applicable regulatory agencies.

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