Bridgewater Bancshares, Inc. (BWB) SEC Filings & Earnings Calls
EquiReason read 15 Bridgewater Bancshares, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-20 — Bridgewater Bancshares Q3 2026 net income $15.0M ($0.49/diluted share), NIM 3.09% (+2bps QoQ), efficiency ratio 48.8% (down from 53.0% QoQ), gross loans +7.2% annualized, core depo.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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- Market cap
- 573.8M
- P/E TTM
- 11.2
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 25 Jan, in 93 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
20 Oct 20268-K · 2.02, 7.01, 8.01Bridgewater Bancshares Q3 2026 net income $15.0M ($0.49/diluted share), NIM 3.09% (+2bps QoQ), efficiency ratio 48.8% (down from 53.0% QoQ), gross loans +7.2% annualized, core deposits +19.6% annualized.earningsopen
Figures in the filing · each found in the filing text
| Net income · Q3-2026 | $15M | +29% y/y |
| Diluted EPS · Q3-2026 | $0.49 | +29% y/y |
| Net interest margin (FTE) · Q3-2026 | 3.1% | |
| Efficiency ratio · Q3-2026 | 48.8% | |
| Annualized net loan charge-offs / avg loans · Q3-2026 | 0.2% | |
| Nonperforming assets / total assets · Q3-2026 | 0.4% | |
| Tangible book value per share · Q3-2026 | $16.33 | +9% y/y |
| CET1 ratio · Q3-2026 | 9.6% | |
| Return on Average Assets · Q3-2026 | 1.1% | |
| Return on Average Shareholders' Equity · Q3-2026 | 10.8% |
Risks flagged
Annualized net loan charge-offs increased to 0.21% from 0.04% QoQ, indicating some credit deterioration.
“Annualized net loan charge-offs as a percentage of average loans of 0.21%, up from 0.04% for the second quarter of 2026.” · word for word
Tangible book value per share decreased 6.7% annualized QoQ, partly due to balance sheet growth diluting book value.
“Tangible book value per share of $16.33 at September 30, 2026, a decrease of 6.7% annualized from the second quarter of 2026.”
26 Aug 20268-K · 8.01Bridgewater Bancshares extends stock repurchase program expiration by one year to Aug 25, 2027; $12.4M remaining authorization as of Aug 25, 2026.open
Figures in the filing · each found in the filing text
| Stock repurchase authorization remaining · Q3-2026 | $12M |
12 Aug 20268-K · 7.01Issued a Regulation FD disclosure (forward guidance or material update); filed financial statements and exhibits with this reportopen
Risks flagged
Concentration in commercial real estate loans; interest rate risk; potential impact from tariffs and economic slowdown.
“Credit risk and risks from concentrations (including by type of borrower, geographic area, collateral and industry) within the Company’s loan portfolio or large loans to certain borrowers (including commercial real estate (“CRE”) loans).” · word for word
30 Jul 202610-QBridgewater Bancshares reported Q2 2026 net income of $14.0 million, up 21.6% YoY, with NIM expanding 45 bps to 3.07%.earningsopen
Figures in the filing · each found in the filing text
| Net Interest Margin · Q2-2026 | 3.1% | |
| Efficiency Ratio · Q2-2026 | 53.0% | |
| Cost of Total Deposits · Q2-2026 | 2.8% | |
| Gross Loans · Q2-2026 | $4.43B | +7% y/y |
| Net Interest Income · Q2-2026 | $39M | +19% y/y |
| Provision for Credit Losses · Q2-2026 | $550000.00 | -73% y/y |
| Noninterest Expense · Q2-2026 | $22M | +16% y/y |
| Net Income · Q2-2026 | $14M | +22% y/y |
| Diluted Earnings Per Share · Q2-2026 | $0.45 | +18% y/y |
| Tangible Book Value Per Share · Q2-2026 | $16.61 | +17% y/y |
Risks flagged
Nonperforming loans increased year-over-year
“Nonperforming Loans to Total Loans 0.49% at June 30, 2026 vs 0.24% at June 30, 2025.”
Noninterest expense growth outpacing revenue growth
“Noninterest expense was $21.9 million for the second quarter of 2026, an increase of $3.0 million from $18.9 million for the second quarter of 2025.” · word for word
Concentration in investor CRE loans
“Investor CRE loans represented 69.9% of the total gross loan portfolio and 457.1% of the Bank’s total risk-based capital at June 30, 2026.” · word for word
21 Jul 20268-K · 2.02, 7.01, 8.01Q2 2026 net income $14.0M ($0.45 diluted EPS); NIM expanded to 3.07% from 2.99% QoQ; loan growth $58.3M; efficiency ratio improved to 53.0%; tangible book value per share up 17.1% annualized; preferred dividend declared; share repurchase $7earningsopen
Figures in the filing · each found in the filing text
| Net interest margin (FTE) · Q2-2026 | 3.1% | |
| Efficiency ratio · Q2-2026 | 53.0% | |
| Return on average assets · Q2-2026 | 1.1% | |
| Return on average shareholders' equity · Q2-2026 | 10.2% | |
| Return on average tangible common equity · Q2-2026 | 11.2% | |
| Net income · Q2-2026 | $14M | |
| EPS diluted · Q2-2026 | $0.45 | |
| Tangible book value per share · Q2-2026 | $16.61 | |
| Common Equity Tier 1 Ratio · Q2-2026 | 9.6% | |
| Yield on loans · Q2-2026 | 5.9% |
Risks flagged
Nonperforming assets to total assets increased to 0.40% from 0.22% QoQ, indicating potential credit quality deterioration.
“Nonperforming assets to total assets of 0.40% at June 30, 2026, up from 0.22% at March 31, 2026.” · word for word
Core deposits decreased by $29.9M, or 3.5% annualized, suggesting potential funding mix shift or outflow.
“core deposits (2) decreased by $29.9 million, or 3.5% annualized, from the first quarter of 2026.” · word for word
4 May 20268-K · 7.01Issued a Regulation FD disclosure (forward guidance or material update); filed financial statements and exhibits with this reportSEC ↗
30 Apr 202610-QNet Interest Income $37M (+21% y/y); Net Income $17M (+81% y/y); Diluted Earnings Per Share $0.58 (+87% y/y)open
Figures in the filing · each found in the filing text
| Net Interest Income · Q1-2026 | $37M | +21% y/y |
| Net Income · Q1-2026 | $17M | +81% y/y |
| Diluted Earnings Per Share · Q1-2026 | $0.58 | +87% y/y |
| Net Interest Margin · Q1-2026 | 3.0% | |
| Gross Loans · 2026-03-31 | $4.37B | +9% y/y |
| Total Deposits · 2026-03-31 | $4.31B | +3% y/y |
| Return on Average Assets · Q1-2026 | 1.4% | |
| Return on Average Tangible Common Equity · Q1-2026 | 15.1% | |
| Tangible Book Value Per Share · 2026-03-31 | $15.93 | +15% y/y |
| Nonperforming Loans to Total Loans · 2026-03-31 | 0.3% |
Risks flagged
CRE Concentration Risk
“Investor CRE loans represented 69.5% of the total gross loan portfolio and 461.5% of the Bank’s total risk-based capital at March 31, 2026.” · word for word
Interest Rate Risk
“interest rate risk, including the effects of changes in interest rates” · word for word
Deposit Concentration Risk
“the concentration of large deposits from certain clients, including those who have balances above current Federal Deposit Insurance Corporation insurance limits” · word for word
Tariff and Economic Policy Risk
“effects on the U.S. economy resulting from actions taken by the federal government, including the threat or implementation of tariffs, immigration enforcement, executive orders, and changes in foreign policy” · word for word
Cybersecurity Risk
“the occurrence of fraudulent activity, breaches or failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud” · word for word
21 Apr 20268-K · 2.02, 7.01, 8.01Released earnings results and quarterly financials; issued a Regulation FD disclosure (forward guidance or material update)earningsSEC ↗
16 Mar 2026DEF 14AAnnual proxy statement filed for shareholder vote, including say-on-pay and approval of 2026 equity incentive plan.open
Figures in the filing · each found in the filing text
| Total Deposits · FY2025 | $245M | +8% y/y |
| Gross Loans · FY2025 | $441M | +11% y/y |
| Net Interest Margin (FTE) · FY2025 | 37.0% | |
| Net Loan Charge-offs as % of Avg Loans · FY2025 | 0.0% | |
| Tangible Book Value Per Share · FY2025 | $15.55 | +15% y/y |
| Net Income · FY2025 | $46M |
Risks flagged
Commercial Real Estate Concentration
“credit risk and risks from concentrations (including by type of borrower, geographic area, collateral and industry) within the Company’s loan portfolio or large loans to certain borrowers (including commercial real estate loans)” · word for word
Interest Rate Risk
“interest rate risk, including the effects of changes in interest rates” · word for word
Liquidity Risk
“our ability to successfully manage liquidity risk, which may increase our dependence on non-core funding sources such as brokered deposits, and negatively impact our cost of funds” · word for word
27 Feb 20268-K · 1.01Bridgewater Bancshares entered an Equity Distribution Agreement with Piper Sandler & Co., enabling at-the-market equity issuances.SEC ↗
26 Feb 202610-KNet Interest Income $132M (+30% y/y); Net Interest Margin (FTE) 2.63; Core Net Interest Margin (FTE) 2.5open
Figures in the filing · each found in the filing text
| Net Interest Income · FY2025 | $132M | +30% y/y |
| Net Interest Margin (FTE) · FY2025 | 2.6% | |
| Core Net Interest Margin (FTE) · FY2025 | 2.5% | |
| Gross Loans · FY2025 | $4.31B | +11% y/y |
| Total Deposits · FY2025 | $4.32B | +6% y/y |
| Core Deposits · FY2025 | $3.35B | +8% y/y |
| Efficiency Ratio · FY2025 | 53.5% | |
| Net Income · FY2025 | $46M | +40% y/y |
| Allowance for Credit Losses to Total Loans · FY2025 | 1.3% | |
| Tangible Book Value per Share · FY2025 | $15.55 | +15% y/y |
Risks flagged
Credit Quality Deterioration
“Nonaccrual loans totaled $22.0 million at December 31, 2025, compared to $301,000 at December 31, 2024.” · word for word
Concentration in CRE Lending
“Investor CRE loans represented 69.9% of the total gross loan portfolio and 473.1% of the Bank’s total risk-based capital at December 31, 2025.” · word for word
Geographic Concentration
“Over 75% of the Bank’s real estate loan balances were secured by properties located in the Twin Cities MSA.” · word for word
Substandard Loan Growth
“Loans that warranted a substandard risk rating at December 31, 2025 totaled $53.0 million, compared to $21.8 million at December 31, 2024.” · word for word
9 Feb 20268-K · 7.01Issued a Regulation FD disclosure (forward guidance or material update); filed financial statements and exhibits with this reportSEC ↗
27 Jan 20268-K · 2.02, 7.01, 8.01Net income $13M (+62% y/y); Diluted earnings per share $0.43 (+65% y/y); Net interest margin (FTE) 2.75earningsopen
Figures in the filing · each found in the filing text
| Net income · Q4-2025 | $13M | +62% y/y |
| Diluted earnings per share · Q4-2025 | $0.43 | +65% y/y |
| Net interest margin (FTE) · Q4-2025 | 2.8% | |
| Gross loans · Q4-2025 | $95M | |
| Core deposits · Q4-2025 | $73M | |
| Tangible book value per share · Q4-2025 | $15.55 | +15% y/y |
| Efficiency ratio · Q4-2025 | 51.6% | |
| Net interest income · Q4-2025 | $2M | |
| Noninterest income · Q4-2025 | $1M | |
| Pre-provision net revenue · FY2025 | $19M | +42% y/y |
Risks flagged
Net loan charge-offs increased slightly to 0.04% from 0.03% in 2024, but remain very low, indicating manageable credit risk.
“Net loan charge-offs as a percentage of average loans of 0.04%, up from 0.03% for the year ended December 31, 2024.” · word for word
3 Nov 20258-K · 7.01Issued a Regulation FD disclosure (forward guidance or material update); filed financial statements and exhibits with this reportopen
Risks flagged
Standard banking risks: interest rate, credit, CRE concentration, deposit outflows.
“Risk factors include interest rate risk, credit risk, CRE loans, deposit withdrawals.”
30 Oct 202510-QBWB reported Q3 2025 net income of $11.6M ($0.38/diluted share), up 33.7% YoY, with NIM expanding 39 bps YoY to 2.63% and strong loan growth.earningsopen
Figures in the filing · each found in the filing text
| Net Interest Margin (FTE) · Q3-2025 | 2.6% | |
| Net Income Available to Common Shareholders · Q3-2025 | $11M | +38% y/y |
| Earnings Per Share (Diluted) · Q3-2025 | $0.38 | +41% y/y |
| Efficiency Ratio · Q3-2025 | 54.7% | |
| Net Interest Income · Q3-2025 | $34M | +33% y/y |
| Total Loans, Gross · Q3-2025 | $4.21B | +14% y/y |
| Tangible Book Value Per Share · Q3-2025 | $14.93 | +7% y/y |
Risks flagged
Elevated CRE Concentration
“Investor CRE loans represented 69.7% of the total gross loan portfolio and 474.7% of the Bank’s total risk-based capital at September 30, 2025” · word for word
Rising Nonaccrual Loans
“Nonaccrual loans totaled $10.0 million as of September 30, 2025 and $301,000 as of December 31, 2024.” · word for word
Merger Integration Risk
“During the three and nine months ended September 30, 2025, the Company incurred merger-related expenses of $530,000 and $1.6 million, respectively.” · word for word
Bridgewater Bancshares, Inc. — questions
- What did Bridgewater Bancshares, Inc. file recently?
- 15 SEC filings in the last 12 months. Latest: 8-K on 2026-10-20 — Bridgewater Bancshares Q3 2026 net income $15.0M ($0.49/diluted share), NIM 3.09% (+2bps QoQ), efficiency ratio 48.8% (down from 53.0% QoQ), gross loans +7.2% annualized, core deposits +19.6% annualized.
Every figure on this page comes from Bridgewater Bancshares, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.