Business
Bridgewater Bancshares, Inc. Announces First Quarter 2023 Net Income of $11.6 Million, $0.37 Diluted Earnings Per Common Share
ST. LOUIS PARK, Minn.--(BUSINESS WIRE)-- Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank (the Bank), today
About this update from Bridgewater Bancshares, Inc.
[{"type":"text","content":" ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--\nBridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank (the Bank), today announced net income of $11.6 million for the first quarter of 2023, compared to $13.7 million for the fourth quarter of 2022, and $12.3 million for the first quarter of 2022. Earnings per diluted common share for the first quarter of 2023 were $0.37, compared to $0.45 per diluted common share for the fourth quarter of 2022, and $0.39 per diluted common share for the same period in 2022.\n\n\n“While first quarter results included well-controlled expenses, superb asset quality, moderated loan growth, and expected net interest margin pressure, our focus was on supporting our clients and demonstrating the resiliency of our balance sheet and business model,” said Chairman, Chief Executive Officer, and President, Jerry Baack. “Bridgewater is a relationship-focused bank supporting a local real estate and small business client base. With a strong balance sheet, including a diversified loan portfolio, high level of insured deposits, and ample liquidity and borrowing capacity, we feel well-positioned to continue executing on our proven and successful business model.”\n\n\n\n\nFirst Quarter 2023 Financial Results\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nDiluted\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nNonperforming\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nROA\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nPPNR ROA (1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nROE\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nearnings per share\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nEfficiency ratio (1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nassets to total assets\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n1.07\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n1.49\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n11.70\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.37\n\n\n\n\n\n\n \n\n\n\n\n\n\...