Business
Bridgewater Bancshares, Inc. Receives Regulatory Approvals for First Minnetonka City Bank Acquisition
ST. LOUIS PARK, Minn.--(BUSINESS WIRE)-- Bridgewater Bancshares, Inc. (Nasdaq: BWB) (“Bridgewater”), the parent company of Bridgewater Bank, and First
About this update from Bridgewater Bancshares, Inc.
[{"type":"text","content":" ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--\nBridgewater Bancshares, Inc. (Nasdaq: BWB) (“Bridgewater”), the parent company of Bridgewater Bank, and First Minnetonka City Bank announced today the receipt of all necessary regulatory approvals, including approval from the Federal Deposit Insurance Corporation and the Minnesota Department of Commerce, to complete Bridgewater Bank’s previously announced acquisition of First Minnetonka City Bank. The acquisition is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241022287913/en/\nAbout Bridgewater\n\nBridgewater Bancshares, Inc. is a St. Louis Park, Minnesota-based financial holding company. Bridgewater’s banking subsidiary, Bridgewater Bank, is a premier, full-service Twin Cities bank dedicated to serving the diverse needs of commercial real estate investors, entrepreneurs, business clients and successful individuals. By pairing a range of deposit, lending and treasury management solutions with a responsive service model, Bridgewater has seen continuous growth and profitability. With total assets of $4.7 billion and seven branches as of June 30, 2024, Bridgewater is considered one of the largest locally led banks in the State of Minnesota, and has received numerous awards for its growth, banking services and esteemed corporate culture.\n\nAbout First Minnetonka City Bank\n\nFirst Minnetonka City Bank is a locally owned and operated financial institution headquartered in Minnetonka, Minnesota. Founded in 1964, the bank operates two full-service branches offering a wide variety of deposit, lending, investment advisory, and other financial products and services to customers in and around the Minnetonka community. First Minnetonka City Bank had $242 million in assets as of June 30, 2024.\n\nForward-Looking Statements\n\nThis press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of Bridgewater. These statements are often, but not ...