Annual Income Statements for Bridgewater Bancshares
This table shows Bridgewater Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Bridgewater Bancshares
This table shows Bridgewater Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
14 |
13 |
11 |
8.80 |
8.62 |
7.86 |
6.82 |
7.10 |
7.66 |
7.19 |
Consolidated Net Income / (Loss) |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
Net Income / (Loss) Continuing Operations |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
Total Pre-Tax Income |
|
20 |
18 |
16 |
13 |
13 |
11 |
10 |
11 |
11 |
11 |
Total Revenue |
|
35 |
35 |
31 |
27 |
27 |
27 |
26 |
27 |
27 |
30 |
Net Interest Income / (Expense) |
|
34 |
33 |
29 |
26 |
25 |
25 |
25 |
25 |
26 |
27 |
Total Interest Income |
|
42 |
49 |
52 |
55 |
57 |
59 |
59 |
61 |
63 |
63 |
Loans and Leases Interest Income |
|
38 |
42 |
45 |
48 |
49 |
50 |
50 |
51 |
52 |
52 |
Investment Securities Interest Income |
|
4.37 |
5.84 |
6.22 |
6.24 |
6.51 |
7.28 |
7.92 |
8.18 |
8.73 |
9.11 |
Other Interest Income |
|
0.32 |
0.53 |
0.82 |
1.04 |
1.30 |
1.54 |
1.17 |
1.32 |
2.41 |
2.35 |
Total Interest Expense |
|
8.26 |
16 |
23 |
29 |
31 |
33 |
34 |
36 |
37 |
36 |
Deposits Interest Expense |
|
5.98 |
11 |
16 |
23 |
27 |
29 |
30 |
32 |
34 |
33 |
Short-Term Borrowings Interest Expense |
|
0.00 |
0.20 |
0.26 |
0.29 |
0.30 |
0.30 |
0.30 |
0.30 |
0.30 |
0.28 |
Long-Term Debt Interest Expense |
|
1.57 |
1.61 |
1.84 |
3.09 |
3.32 |
3.22 |
3.25 |
3.12 |
2.94 |
3.23 |
Federal Funds Purchased and Securities Sold Interest Expense |
|
0.71 |
3.38 |
4.94 |
2.76 |
0.55 |
0.27 |
0.30 |
0.85 |
0.00 |
0.04 |
Total Non-Interest Income |
|
1.39 |
1.74 |
1.94 |
1.42 |
1.73 |
1.41 |
1.55 |
1.76 |
1.52 |
2.53 |
Other Service Charges |
|
1.07 |
0.60 |
1.12 |
0.76 |
0.60 |
0.81 |
0.81 |
0.77 |
0.83 |
1.72 |
Investment Banking Income |
|
0.31 |
0.34 |
0.35 |
0.37 |
0.38 |
0.36 |
0.34 |
0.37 |
0.37 |
0.39 |
Other Non-Interest Income |
|
- |
- |
0.53 |
0.24 |
0.75 |
0.27 |
0.30 |
0.31 |
0.35 |
0.36 |
Provision for Credit Losses |
|
1.50 |
1.50 |
0.63 |
0.05 |
-0.60 |
-0.25 |
0.75 |
0.60 |
0.00 |
2.18 |
Total Non-Interest Expense |
|
14 |
15 |
14 |
14 |
15 |
16 |
15 |
16 |
16 |
17 |
Salaries and Employee Benefits |
|
9.45 |
9.82 |
8.82 |
8.59 |
9.52 |
9.62 |
9.43 |
9.68 |
9.85 |
11 |
Net Occupancy & Equipment Expense |
|
1.09 |
2.57 |
1.57 |
1.48 |
1.49 |
1.49 |
1.47 |
1.56 |
1.44 |
1.63 |
Marketing Expense |
|
- |
- |
0.26 |
0.32 |
0.22 |
0.32 |
0.32 |
0.32 |
0.37 |
0.48 |
Property & Liability Insurance Claims |
|
- |
- |
0.67 |
0.90 |
1.08 |
1.05 |
0.88 |
0.73 |
0.75 |
0.61 |
Other Operating Expenses |
|
3.62 |
-1.19 |
2.71 |
2.95 |
2.92 |
3.26 |
3.08 |
3.25 |
3.35 |
3.44 |
Amortization Expense |
|
- |
- |
0.05 |
0.03 |
0.01 |
0.01 |
0.01 |
0.01 |
0.01 |
0.05 |
Income Tax Expense |
|
5.31 |
4.19 |
4.17 |
3.15 |
2.88 |
2.36 |
2.41 |
2.51 |
2.69 |
2.31 |
Preferred Stock Dividends Declared |
|
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
1.01 |
Basic Earnings per Share |
|
$0.49 |
$0.46 |
$0.38 |
$0.32 |
$0.31 |
$0.28 |
$0.25 |
$0.26 |
$0.28 |
$0.26 |
Weighted Average Basic Shares Outstanding |
|
27.59M |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Diluted Earnings per Share |
|
$0.47 |
$0.45 |
$0.37 |
$0.31 |
$0.30 |
$0.29 |
$0.24 |
$0.26 |
$0.27 |
$0.26 |
Weighted Average Diluted Shares Outstanding |
|
27.59M |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Weighted Average Basic & Diluted Shares Outstanding |
|
27.59M |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Annual Cash Flow Statements for Bridgewater Bancshares
This table details how cash moves in and out of Bridgewater Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-56 |
42 |
101 |
Net Cash From Operating Activities |
85 |
30 |
46 |
Net Cash From Continuing Operating Activities |
85 |
30 |
46 |
Net Income / (Loss) Continuing Operations |
53 |
40 |
33 |
Consolidated Net Income / (Loss) |
53 |
40 |
33 |
Provision For Loan Losses |
7.70 |
-0.18 |
3.53 |
Depreciation Expense |
2.57 |
2.51 |
2.37 |
Amortization Expense |
2.97 |
1.03 |
-0.34 |
Non-Cash Adjustments to Reconcile Net Income |
1.11 |
3.69 |
2.16 |
Changes in Operating Assets and Liabilities, net |
17 |
-17 |
5.84 |
Net Cash From Investing Activities |
-938 |
-209 |
-95 |
Net Cash From Continuing Investing Activities |
-938 |
-209 |
-95 |
Purchase of Property, Leasehold Improvements and Equipment |
-1.63 |
-2.97 |
-4.08 |
Purchase of Investment Securities |
-1,040 |
-272 |
-259 |
Sale and/or Maturity of Investments |
103 |
65 |
168 |
Net Cash From Financing Activities |
797 |
221 |
150 |
Net Cash From Continuing Financing Activities |
797 |
221 |
150 |
Net Change in Deposits |
470 |
293 |
119 |
Issuance of Debt |
172 |
680 |
997 |
Issuance of Preferred Equity |
0.00 |
0.00 |
0.00 |
Repayment of Debt |
-117 |
-457 |
-957 |
Repurchase of Common Equity |
-11 |
-4.67 |
-5.27 |
Payment of Dividends |
-4.05 |
-4.05 |
-4.05 |
Other Financing Activities, Net |
287 |
-286 |
0.13 |
Cash Interest Paid |
32 |
114 |
145 |
Cash Income Taxes Paid |
21 |
10 |
5.75 |
Quarterly Cash Flow Statements for Bridgewater Bancshares
This table details how cash moves in and out of Bridgewater Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
1.98 |
12 |
122 |
-32 |
-53 |
4.20 |
15 |
-9.26 |
58 |
38 |
Net Cash From Operating Activities |
|
9.14 |
4.63 |
7.80 |
15 |
16 |
-8.47 |
7.19 |
11 |
-5.99 |
35 |
Net Cash From Continuing Operating Activities |
|
9.14 |
4.63 |
7.80 |
15 |
16 |
-8.47 |
7.19 |
11 |
-5.99 |
35 |
Net Income / (Loss) Continuing Operations |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
Consolidated Net Income / (Loss) |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
Provision For Loan Losses |
|
1.50 |
1.50 |
0.63 |
0.05 |
-0.60 |
-0.25 |
0.85 |
0.50 |
- |
2.18 |
Depreciation Expense |
|
0.65 |
0.65 |
0.65 |
0.63 |
0.62 |
0.61 |
0.59 |
0.59 |
0.59 |
0.60 |
Amortization Expense |
|
0.53 |
0.80 |
0.37 |
0.37 |
0.23 |
0.06 |
-0.04 |
-0.28 |
-0.31 |
0.30 |
Non-Cash Adjustments to Reconcile Net Income |
|
0.88 |
-1.39 |
1.00 |
0.92 |
1.00 |
0.78 |
0.84 |
0.82 |
0.95 |
-0.45 |
Changes in Operating Assets and Liabilities, net |
|
-8.92 |
-11 |
-6.49 |
3.13 |
4.89 |
-19 |
-2.89 |
0.86 |
-16 |
24 |
Net Cash From Investing Activities |
|
-249 |
-204 |
-129 |
-36 |
-2.65 |
-41 |
-84 |
14 |
62 |
-87 |
Net Cash From Continuing Investing Activities |
|
-249 |
-204 |
-129 |
-36 |
-2.65 |
-41 |
-84 |
14 |
62 |
-87 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.30 |
-0.18 |
-0.01 |
-2.54 |
-0.24 |
-0.18 |
-0.01 |
-0.19 |
-0.46 |
-3.42 |
Purchase of Investment Securities |
|
-260 |
-251 |
-156 |
-46 |
-14 |
-55 |
-106 |
-39 |
-9.60 |
-104 |
Sale and/or Maturity of Investments |
|
11 |
47 |
27 |
12 |
12 |
14 |
22 |
53 |
72 |
21 |
Net Cash From Financing Activities |
|
242 |
211 |
244 |
-11 |
-66 |
54 |
91 |
-33 |
1.69 |
90 |
Net Cash From Continuing Financing Activities |
|
242 |
211 |
244 |
-11 |
-66 |
54 |
91 |
-33 |
1.69 |
90 |
Net Change in Deposits |
|
103 |
111 |
-5.42 |
167 |
98 |
34 |
97 |
0.49 |
-60 |
82 |
Issuance of Debt |
|
15 |
143 |
156 |
163 |
168 |
193 |
208 |
213 |
278 |
298 |
Repayment of Debt |
|
- |
-117 |
-56 |
-98 |
-136 |
-168 |
-211 |
-243 |
-216 |
-288 |
Repurchase of Common Equity |
|
-1.62 |
-0.12 |
0.00 |
- |
- |
-4.67 |
-2.28 |
-2.90 |
-0.04 |
-0.05 |
Payment of Dividends |
|
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
-1.01 |
Other Financing Activities, Net |
|
126 |
75 |
150 |
-242 |
-195 |
-0.18 |
-0.01 |
-0.01 |
0.51 |
-0.36 |
Cash Interest Paid |
|
7.34 |
15 |
23 |
5.89 |
54 |
32 |
35 |
36 |
38 |
36 |
Cash Income Taxes Paid |
|
6.20 |
6.41 |
0.04 |
5.05 |
3.84 |
1.46 |
0.00 |
2.63 |
2.86 |
0.27 |
Annual Balance Sheets for Bridgewater Bancshares
This table presents Bridgewater Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
4,346 |
4,612 |
5,066 |
Cash and Due from Banks |
87 |
129 |
230 |
Time Deposits Placed and Other Short-Term Investments |
1.18 |
0.00 |
4.38 |
Trading Account Securities |
549 |
604 |
768 |
Loans and Leases, Net of Allowance |
3,512 |
3,667 |
3,809 |
Premises and Equipment, Net |
48 |
49 |
50 |
Goodwill |
2.63 |
2.63 |
12 |
Intangible Assets |
0.29 |
0.19 |
7.85 |
Other Assets |
145 |
160 |
185 |
Total Liabilities & Shareholders' Equity |
4,346 |
4,612 |
5,066 |
Total Liabilities |
3,952 |
4,186 |
4,608 |
Non-Interest Bearing Deposits |
884 |
757 |
801 |
Interest Bearing Deposits |
2,532 |
2,953 |
3,286 |
Accrued Interest Payable |
2.83 |
5.28 |
4.01 |
Long-Term Debt |
190 |
413 |
453 |
Other Long-Term Liabilities |
56 |
59 |
65 |
Total Equity & Noncontrolling Interests |
394 |
426 |
458 |
Total Preferred & Common Equity |
394 |
426 |
458 |
Preferred Stock |
67 |
67 |
67 |
Total Common Equity |
328 |
359 |
391 |
Common Stock |
97 |
97 |
95 |
Retained Earnings |
249 |
281 |
309 |
Accumulated Other Comprehensive Income / (Loss) |
-18 |
-18 |
-13 |
Quarterly Balance Sheets for Bridgewater Bancshares
This table presents Bridgewater Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
4,129 |
4,603 |
4,603 |
4,557 |
4,723 |
4,687 |
4,692 |
Cash and Due from Banks |
|
75 |
209 |
177 |
124 |
143 |
134 |
192 |
Trading Account Securities |
|
542 |
559 |
538 |
553 |
633 |
601 |
665 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
3,678 |
3,664 |
3,727 |
3,742 |
3,629 |
Premises and Equipment, Net |
|
49 |
48 |
50 |
49 |
48 |
48 |
48 |
Goodwill |
|
2.63 |
2.63 |
2.63 |
2.63 |
2.63 |
2.63 |
2.63 |
Intangible Assets |
|
0.34 |
0.24 |
0.21 |
0.20 |
0.18 |
0.17 |
0.16 |
Other Assets |
|
134 |
157 |
156 |
162 |
169 |
159 |
156 |
Total Liabilities & Shareholders' Equity |
|
4,129 |
4,603 |
4,603 |
4,557 |
4,723 |
4,687 |
4,692 |
Total Liabilities |
|
3,747 |
4,201 |
4,194 |
4,141 |
4,289 |
4,248 |
4,239 |
Non-Interest Bearing Deposits |
|
961 |
742 |
751 |
754 |
698 |
705 |
713 |
Interest Bearing Deposits |
|
2,344 |
2,669 |
2,827 |
2,921 |
3,109 |
3,103 |
3,034 |
Accrued Interest Payable |
|
2.21 |
3.26 |
2.97 |
3.82 |
4.41 |
4.00 |
3.46 |
Long-Term Debt |
|
164 |
290 |
355 |
387 |
410 |
380 |
443 |
Other Long-Term Liabilities |
|
64 |
60 |
63 |
74 |
68 |
56 |
46 |
Total Equity & Noncontrolling Interests |
|
382 |
402 |
409 |
416 |
434 |
439 |
452 |
Total Preferred & Common Equity |
|
382 |
402 |
409 |
416 |
434 |
439 |
452 |
Preferred Stock |
|
67 |
67 |
67 |
67 |
67 |
67 |
67 |
Total Common Equity |
|
315 |
335 |
343 |
349 |
367 |
373 |
386 |
Common Stock |
|
96 |
98 |
99 |
100 |
95 |
93 |
95 |
Retained Earnings |
|
236 |
255 |
264 |
273 |
287 |
295 |
302 |
Accumulated Other Comprehensive Income / (Loss) |
|
-17 |
-18 |
-21 |
-24 |
-16 |
-15 |
-11 |
Annual Metrics And Ratios for Bridgewater Bancshares
This table displays calculated financial ratios and metrics derived from Bridgewater Bancshares' official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
18.47% |
-17.91% |
-1.89% |
EBITDA Growth |
13.70% |
-27.43% |
-20.15% |
EBIT Growth |
16.46% |
-26.76% |
-18.63% |
NOPAT Growth |
16.86% |
-25.16% |
-17.86% |
Net Income Growth |
16.86% |
-25.16% |
-17.86% |
EPS Growth |
11.69% |
-26.16% |
-18.90% |
Operating Cash Flow Growth |
56.72% |
-64.69% |
54.51% |
Free Cash Flow Firm Growth |
73.11% |
-1,213.89% |
81.35% |
Invested Capital Growth |
13.56% |
43.57% |
8.69% |
Revenue Q/Q Growth |
3.18% |
-6.61% |
2.60% |
EBITDA Q/Q Growth |
1.24% |
-11.77% |
-1.08% |
EBIT Q/Q Growth |
1.55% |
-11.31% |
-1.66% |
NOPAT Q/Q Growth |
2.34% |
-10.85% |
-2.00% |
Net Income Q/Q Growth |
2.34% |
-10.85% |
-2.00% |
EPS Q/Q Growth |
3.61% |
-11.19% |
-2.83% |
Operating Cash Flow Q/Q Growth |
-6.32% |
-30.38% |
1,292.25% |
Free Cash Flow Firm Q/Q Growth |
-220.32% |
-0.88% |
31.23% |
Invested Capital Q/Q Growth |
6.90% |
4.31% |
1.77% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
56.79% |
50.20% |
40.86% |
EBIT Margin |
52.72% |
47.03% |
39.01% |
Profit (Net Income) Margin |
39.25% |
35.79% |
29.96% |
Tax Burden Percent |
74.46% |
76.08% |
76.81% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
25.54% |
23.92% |
23.19% |
Return on Invested Capital (ROIC) |
9.73% |
5.62% |
3.75% |
ROIC Less NNEP Spread (ROIC-NNEP) |
9.73% |
5.62% |
3.75% |
Return on Net Nonoperating Assets (RNNOA) |
4.08% |
4.13% |
3.68% |
Return on Equity (ROE) |
13.81% |
9.75% |
7.43% |
Cash Return on Invested Capital (CROIC) |
-2.97% |
-30.16% |
-4.57% |
Operating Return on Assets (OROA) |
1.83% |
1.17% |
0.88% |
Return on Assets (ROA) |
1.36% |
0.89% |
0.68% |
Return on Common Equity (ROCE) |
11.43% |
8.17% |
6.31% |
Return on Equity Simple (ROE_SIMPLE) |
13.55% |
9.39% |
7.17% |
Net Operating Profit after Tax (NOPAT) |
53 |
40 |
33 |
NOPAT Margin |
39.25% |
35.79% |
29.96% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
32.90% |
39.12% |
43.03% |
Operating Expenses to Revenue |
41.62% |
53.12% |
57.78% |
Earnings before Interest and Taxes (EBIT) |
72 |
53 |
43 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
77 |
56 |
45 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.49 |
1.05 |
0.95 |
Price to Tangible Book Value (P/TBV) |
1.51 |
1.06 |
1.00 |
Price to Revenue (P/Rev) |
3.60 |
3.39 |
3.38 |
Price to Earnings (P/E) |
9.92 |
10.54 |
12.88 |
Dividend Yield |
0.00% |
0.00% |
0.00% |
Earnings Yield |
10.08% |
9.48% |
7.77% |
Enterprise Value to Invested Capital (EV/IC) |
1.13 |
0.87 |
0.72 |
Enterprise Value to Revenue (EV/Rev) |
4.83 |
6.53 |
5.99 |
Enterprise Value to EBITDA (EV/EBITDA) |
8.51 |
13.01 |
14.65 |
Enterprise Value to EBIT (EV/EBIT) |
9.17 |
13.88 |
15.35 |
Enterprise Value to NOPAT (EV/NOPAT) |
12.31 |
18.24 |
19.98 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
7.73 |
24.29 |
14.14 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.48 |
0.97 |
0.99 |
Long-Term Debt to Equity |
0.48 |
0.97 |
0.99 |
Financial Leverage |
0.42 |
0.73 |
0.98 |
Leverage Ratio |
10.12 |
10.93 |
10.96 |
Compound Leverage Factor |
10.12 |
10.93 |
10.96 |
Debt to Total Capital |
32.49% |
49.23% |
49.72% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
32.49% |
49.23% |
49.72% |
Preferred Equity to Total Capital |
11.39% |
7.94% |
7.30% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
56.11% |
42.84% |
42.97% |
Debt to EBITDA |
2.46 |
7.36 |
10.12 |
Net Debt to EBITDA |
1.31 |
5.07 |
4.89 |
Long-Term Debt to EBITDA |
2.46 |
7.36 |
10.12 |
Debt to NOPAT |
3.55 |
10.32 |
13.80 |
Net Debt to NOPAT |
1.90 |
7.11 |
6.67 |
Long-Term Debt to NOPAT |
3.55 |
10.32 |
13.80 |
Noncontrolling Interest Sharing Ratio |
17.20% |
16.23% |
15.06% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-16 |
-214 |
-40 |
Operating Cash Flow to CapEx |
5,205.08% |
1,010.61% |
1,136.67% |
Free Cash Flow to Firm to Interest Expense |
-0.48 |
-1.83 |
-0.28 |
Operating Cash Flow to Interest Expense |
2.50 |
0.26 |
0.32 |
Operating Cash Flow Less CapEx to Interest Expense |
2.45 |
0.23 |
0.29 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.03 |
0.02 |
0.02 |
Fixed Asset Turnover |
2.78 |
2.29 |
2.23 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
584 |
838 |
911 |
Invested Capital Turnover |
0.25 |
0.16 |
0.13 |
Increase / (Decrease) in Invested Capital |
70 |
254 |
73 |
Enterprise Value (EV) |
657 |
729 |
656 |
Market Capitalization |
489 |
379 |
371 |
Book Value per Share |
$11.87 |
$12.82 |
$14.27 |
Tangible Book Value per Share |
$11.77 |
$12.72 |
$13.55 |
Total Capital |
584 |
838 |
911 |
Total Debt |
190 |
413 |
453 |
Total Long-Term Debt |
190 |
413 |
453 |
Net Debt |
101 |
284 |
219 |
Capital Expenditures (CapEx) |
1.63 |
2.97 |
4.08 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
190 |
413 |
453 |
Total Depreciation and Amortization (D&A) |
5.54 |
3.54 |
2.03 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$1.78 |
$1.29 |
$1.05 |
Adjusted Weighted Average Basic Shares Outstanding |
27.76M |
27.71M |
27.60M |
Adjusted Diluted Earnings per Share |
$1.72 |
$1.27 |
$1.03 |
Adjusted Weighted Average Diluted Shares Outstanding |
27.76M |
27.71M |
27.60M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
27.76M |
27.71M |
27.60M |
Normalized Net Operating Profit after Tax (NOPAT) |
53 |
40 |
33 |
Normalized NOPAT Margin |
39.25% |
35.79% |
29.96% |
Pre Tax Income Margin |
52.72% |
47.03% |
39.01% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.11 |
0.45 |
0.30 |
NOPAT to Interest Expense |
1.57 |
0.34 |
0.23 |
EBIT Less CapEx to Interest Expense |
2.06 |
0.42 |
0.27 |
NOPAT Less CapEx to Interest Expense |
1.52 |
0.32 |
0.20 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
7.59% |
10.15% |
12.35% |
Augmented Payout Ratio |
27.99% |
21.83% |
28.40% |
Quarterly Metrics And Ratios for Bridgewater Bancshares
This table displays calculated financial ratios and metrics derived from Bridgewater Bancshares' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
17.95% |
13.76% |
-3.87% |
-20.17% |
-23.49% |
-22.84% |
-14.19% |
-1.94% |
-0.10% |
10.39% |
EBITDA Growth |
|
22.53% |
5.14% |
-6.57% |
-25.92% |
-36.38% |
-38.60% |
-35.87% |
-21.77% |
-12.91% |
-4.10% |
EBIT Growth |
|
27.52% |
6.51% |
-4.46% |
-25.51% |
-36.90% |
-37.34% |
-35.24% |
-18.07% |
-9.18% |
-6.41% |
NOPAT Growth |
|
26.10% |
9.76% |
-5.06% |
-23.80% |
-33.65% |
-35.40% |
-32.73% |
-17.33% |
-9.91% |
-7.54% |
Net Income Growth |
|
26.10% |
9.76% |
-5.06% |
-23.80% |
-33.65% |
-35.40% |
-32.73% |
-17.33% |
-9.91% |
-7.54% |
EPS Growth |
|
17.50% |
15.38% |
-5.13% |
-24.39% |
-36.17% |
-35.56% |
-35.14% |
-16.13% |
-10.00% |
-10.34% |
Operating Cash Flow Growth |
|
-42.64% |
-55.33% |
-75.07% |
-62.65% |
72.45% |
-282.89% |
-7.86% |
-28.94% |
-137.97% |
508.33% |
Free Cash Flow Firm Growth |
|
-35.00% |
40.36% |
-81.17% |
-159.61% |
-927.96% |
-338.53% |
13.07% |
79.43% |
66.51% |
73.68% |
Invested Capital Growth |
|
7.61% |
13.56% |
34.51% |
45.84% |
47.13% |
43.57% |
21.97% |
7.26% |
11.40% |
8.69% |
Revenue Q/Q Growth |
|
3.81% |
-2.40% |
-11.90% |
-10.56% |
-0.51% |
-1.56% |
-2.03% |
2.21% |
1.35% |
8.77% |
EBITDA Q/Q Growth |
|
11.45% |
-7.73% |
-13.11% |
-17.08% |
-4.29% |
-10.96% |
-10.11% |
1.15% |
6.56% |
-1.95% |
EBIT Q/Q Growth |
|
13.92% |
-9.57% |
-11.78% |
-18.04% |
-3.49% |
-10.21% |
-9.73% |
3.69% |
6.98% |
-7.46% |
NOPAT Q/Q Growth |
|
12.66% |
-5.36% |
-15.24% |
-15.68% |
-1.91% |
-7.85% |
-11.74% |
3.63% |
6.90% |
-5.43% |
Net Income Q/Q Growth |
|
12.66% |
-5.36% |
-15.24% |
-15.68% |
-1.91% |
-7.85% |
-11.74% |
3.63% |
6.90% |
-5.43% |
EPS Q/Q Growth |
|
14.63% |
-4.26% |
-17.78% |
-16.22% |
-3.23% |
-3.33% |
-17.24% |
8.33% |
3.85% |
-3.70% |
Operating Cash Flow Q/Q Growth |
|
-77.11% |
-49.36% |
68.42% |
91.31% |
5.69% |
-153.71% |
184.85% |
47.53% |
-156.47% |
677.63% |
Free Cash Flow Firm Q/Q Growth |
|
72.84% |
-132.28% |
-196.26% |
-38.89% |
-7.55% |
0.91% |
41.27% |
67.13% |
-75.06% |
22.12% |
Invested Capital Q/Q Growth |
|
4.24% |
6.90% |
18.51% |
10.44% |
5.16% |
4.31% |
0.68% |
-2.88% |
9.22% |
1.77% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
59.19% |
55.96% |
55.19% |
51.16% |
49.22% |
44.52% |
41.24% |
40.81% |
42.91% |
38.68% |
EBIT Margin |
|
55.87% |
51.77% |
51.84% |
47.51% |
46.08% |
42.04% |
39.12% |
39.69% |
41.89% |
35.64% |
Profit (Net Income) Margin |
|
40.90% |
39.66% |
38.16% |
35.97% |
35.47% |
33.20% |
29.91% |
30.33% |
31.99% |
27.81% |
Tax Burden Percent |
|
73.21% |
76.61% |
73.61% |
75.72% |
76.97% |
78.99% |
76.46% |
76.41% |
76.36% |
78.04% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
26.79% |
23.39% |
26.39% |
24.28% |
23.03% |
21.01% |
23.54% |
23.59% |
23.64% |
21.96% |
Return on Invested Capital (ROIC) |
|
10.24% |
9.83% |
8.53% |
7.15% |
6.29% |
5.22% |
4.18% |
4.09% |
4.02% |
3.48% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
10.24% |
9.83% |
8.53% |
7.15% |
6.29% |
5.22% |
4.18% |
4.09% |
4.02% |
3.48% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.15% |
4.12% |
4.63% |
4.59% |
4.34% |
3.83% |
3.50% |
3.54% |
3.85% |
3.41% |
Return on Equity (ROE) |
|
14.38% |
13.95% |
13.16% |
11.74% |
10.63% |
9.05% |
7.68% |
7.64% |
7.87% |
6.90% |
Cash Return on Invested Capital (CROIC) |
|
2.57% |
-2.97% |
-20.68% |
-29.57% |
-31.50% |
-30.16% |
-15.09% |
-2.66% |
-6.84% |
-4.57% |
Operating Return on Assets (OROA) |
|
1.96% |
1.80% |
1.70% |
1.43% |
1.27% |
1.05% |
0.90% |
0.91% |
0.97% |
0.81% |
Return on Assets (ROA) |
|
1.43% |
1.38% |
1.25% |
1.08% |
0.98% |
0.83% |
0.69% |
0.70% |
0.74% |
0.63% |
Return on Common Equity (ROCE) |
|
11.83% |
11.55% |
10.92% |
9.75% |
8.86% |
7.58% |
6.46% |
6.44% |
6.66% |
5.86% |
Return on Equity Simple (ROE_SIMPLE) |
|
13.66% |
0.00% |
13.13% |
12.15% |
10.78% |
0.00% |
8.34% |
7.84% |
7.41% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
NOPAT Margin |
|
40.90% |
39.66% |
38.16% |
35.97% |
35.47% |
33.20% |
29.91% |
30.33% |
31.99% |
27.81% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
29.69% |
35.79% |
34.88% |
38.06% |
41.38% |
42.75% |
42.87% |
43.19% |
42.97% |
43.08% |
Operating Expenses to Revenue |
|
39.90% |
43.90% |
46.11% |
52.31% |
56.13% |
58.90% |
58.02% |
58.07% |
58.11% |
56.99% |
Earnings before Interest and Taxes (EBIT) |
|
20 |
18 |
16 |
13 |
13 |
11 |
10 |
11 |
11 |
11 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
21 |
19 |
17 |
14 |
13 |
12 |
11 |
11 |
12 |
11 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.44 |
1.49 |
0.90 |
0.80 |
0.76 |
1.05 |
0.88 |
0.85 |
1.00 |
0.95 |
Price to Tangible Book Value (P/TBV) |
|
1.45 |
1.51 |
0.90 |
0.81 |
0.77 |
1.06 |
0.89 |
0.86 |
1.01 |
1.00 |
Price to Revenue (P/Rev) |
|
3.45 |
3.60 |
2.23 |
2.15 |
2.22 |
3.39 |
3.00 |
2.98 |
3.63 |
3.38 |
Price to Earnings (P/E) |
|
9.47 |
9.92 |
6.18 |
6.03 |
6.51 |
10.54 |
10.05 |
10.46 |
13.16 |
12.88 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
10.56% |
10.08% |
16.19% |
16.59% |
15.37% |
9.48% |
9.95% |
9.56% |
7.60% |
7.77% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.11 |
1.13 |
0.65 |
0.68 |
0.74 |
0.87 |
0.78 |
0.77 |
0.79 |
0.72 |
Enterprise Value to Revenue (EV/Rev) |
|
4.61 |
4.83 |
3.31 |
4.05 |
4.96 |
6.53 |
6.11 |
5.90 |
6.60 |
5.99 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
7.97 |
8.51 |
5.87 |
7.28 |
9.34 |
13.01 |
13.11 |
13.42 |
15.58 |
14.65 |
Enterprise Value to EBIT (EV/EBIT) |
|
8.61 |
9.17 |
6.29 |
7.79 |
10.02 |
13.88 |
13.97 |
14.13 |
16.22 |
15.35 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
11.66 |
12.31 |
8.47 |
10.43 |
13.24 |
18.24 |
18.14 |
18.30 |
21.05 |
19.98 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
6.70 |
7.73 |
7.26 |
14.20 |
13.77 |
24.29 |
22.31 |
25.13 |
211.66 |
14.14 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
44.84 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.43 |
0.48 |
0.72 |
0.87 |
0.93 |
0.97 |
0.95 |
0.87 |
0.98 |
0.99 |
Long-Term Debt to Equity |
|
0.43 |
0.48 |
0.72 |
0.87 |
0.93 |
0.97 |
0.95 |
0.87 |
0.98 |
0.99 |
Financial Leverage |
|
0.41 |
0.42 |
0.54 |
0.64 |
0.69 |
0.73 |
0.84 |
0.87 |
0.96 |
0.98 |
Leverage Ratio |
|
10.03 |
10.12 |
10.51 |
10.82 |
10.89 |
10.93 |
11.16 |
10.95 |
10.65 |
10.96 |
Compound Leverage Factor |
|
10.03 |
10.12 |
10.51 |
10.82 |
10.89 |
10.93 |
11.16 |
10.95 |
10.65 |
10.96 |
Debt to Total Capital |
|
30.04% |
32.49% |
41.89% |
46.45% |
48.23% |
49.23% |
48.61% |
46.40% |
49.48% |
49.72% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
30.04% |
32.49% |
41.89% |
46.45% |
48.23% |
49.23% |
48.61% |
46.40% |
49.48% |
49.72% |
Preferred Equity to Total Capital |
|
12.18% |
11.39% |
9.62% |
8.71% |
8.28% |
7.94% |
7.88% |
8.12% |
7.43% |
7.30% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
57.78% |
56.11% |
48.50% |
44.85% |
43.50% |
42.84% |
43.51% |
45.48% |
43.09% |
42.97% |
Debt to EBITDA |
|
2.15 |
2.46 |
3.81 |
4.99 |
6.10 |
7.36 |
8.20 |
8.09 |
9.79 |
10.12 |
Net Debt to EBITDA |
|
1.15 |
1.31 |
1.04 |
2.48 |
4.12 |
5.07 |
5.33 |
5.24 |
5.55 |
4.89 |
Long-Term Debt to EBITDA |
|
2.15 |
2.46 |
3.81 |
4.99 |
6.10 |
7.36 |
8.20 |
8.09 |
9.79 |
10.12 |
Debt to NOPAT |
|
3.14 |
3.55 |
5.49 |
7.14 |
8.64 |
10.32 |
11.35 |
11.04 |
13.22 |
13.80 |
Net Debt to NOPAT |
|
1.67 |
1.90 |
1.50 |
3.55 |
5.84 |
7.11 |
7.38 |
7.15 |
7.49 |
6.67 |
Long-Term Debt to NOPAT |
|
3.14 |
3.55 |
5.49 |
7.14 |
8.64 |
10.32 |
11.35 |
11.04 |
13.22 |
13.80 |
Noncontrolling Interest Sharing Ratio |
|
17.74% |
17.20% |
17.02% |
16.97% |
16.67% |
16.23% |
15.92% |
15.68% |
15.32% |
15.06% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-24 |
-56 |
-166 |
-230 |
-248 |
-245 |
-144 |
-47 |
-83 |
-65 |
Operating Cash Flow to CapEx |
|
3,068.12% |
2,630.68% |
111,400.00% |
587.09% |
6,597.07% |
-4,627.32% |
119,750.00% |
5,638.30% |
-1,290.09% |
1,010.43% |
Free Cash Flow to Firm to Interest Expense |
|
-2.92 |
-3.51 |
-7.08 |
-7.91 |
-7.89 |
-7.38 |
-4.24 |
-1.32 |
-2.22 |
-1.78 |
Operating Cash Flow to Interest Expense |
|
1.11 |
0.29 |
0.33 |
0.51 |
0.50 |
-0.25 |
0.21 |
0.30 |
-0.16 |
0.95 |
Operating Cash Flow Less CapEx to Interest Expense |
|
1.07 |
0.28 |
0.33 |
0.42 |
0.49 |
-0.26 |
0.21 |
0.29 |
-0.17 |
0.86 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.02 |
0.02 |
0.02 |
0.02 |
0.02 |
Fixed Asset Turnover |
|
2.67 |
2.78 |
2.78 |
2.58 |
2.43 |
2.29 |
2.23 |
2.19 |
2.20 |
2.23 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
546 |
584 |
692 |
764 |
803 |
838 |
844 |
819 |
895 |
911 |
Invested Capital Turnover |
|
0.25 |
0.25 |
0.22 |
0.20 |
0.18 |
0.16 |
0.14 |
0.13 |
0.13 |
0.13 |
Increase / (Decrease) in Invested Capital |
|
39 |
70 |
177 |
240 |
257 |
254 |
152 |
55 |
92 |
73 |
Enterprise Value (EV) |
|
608 |
657 |
447 |
518 |
594 |
729 |
656 |
630 |
705 |
656 |
Market Capitalization |
|
454 |
489 |
301 |
275 |
265 |
379 |
323 |
318 |
388 |
371 |
Book Value per Share |
|
$11.44 |
$11.87 |
$12.09 |
$12.26 |
$12.49 |
$12.82 |
$13.25 |
$13.62 |
$14.10 |
$14.27 |
Tangible Book Value per Share |
|
$11.33 |
$11.77 |
$11.98 |
$12.16 |
$12.39 |
$12.72 |
$13.15 |
$13.51 |
$14.00 |
$13.55 |
Total Capital |
|
546 |
584 |
692 |
764 |
803 |
838 |
844 |
819 |
895 |
911 |
Total Debt |
|
164 |
190 |
290 |
355 |
387 |
413 |
410 |
380 |
443 |
453 |
Total Long-Term Debt |
|
164 |
190 |
290 |
355 |
387 |
413 |
410 |
380 |
443 |
453 |
Net Debt |
|
87 |
101 |
79 |
177 |
262 |
284 |
267 |
246 |
251 |
219 |
Capital Expenditures (CapEx) |
|
0.30 |
0.18 |
0.01 |
2.54 |
0.24 |
0.18 |
0.01 |
0.19 |
0.46 |
3.42 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
164 |
190 |
290 |
355 |
387 |
413 |
410 |
380 |
443 |
453 |
Total Depreciation and Amortization (D&A) |
|
1.18 |
1.45 |
1.02 |
1.00 |
0.85 |
0.67 |
0.56 |
0.30 |
0.28 |
0.90 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.00 |
$0.46 |
$0.38 |
$0.32 |
$0.31 |
$0.28 |
$0.25 |
$0.26 |
$0.28 |
$0.26 |
Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.45 |
$0.37 |
$0.31 |
$0.30 |
$0.29 |
$0.24 |
$0.26 |
$0.27 |
$0.26 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
27.76M |
27.93M |
27.98M |
28.00M |
27.71M |
27.37M |
27.35M |
27.43M |
27.60M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
15 |
14 |
12 |
9.82 |
9.63 |
8.87 |
7.83 |
8.12 |
8.68 |
8.20 |
Normalized NOPAT Margin |
|
40.90% |
39.66% |
38.16% |
35.97% |
35.47% |
33.20% |
29.91% |
30.33% |
31.99% |
27.81% |
Pre Tax Income Margin |
|
55.87% |
51.77% |
51.84% |
47.51% |
46.08% |
42.04% |
39.12% |
39.69% |
41.89% |
35.64% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.40 |
1.12 |
0.68 |
0.45 |
0.40 |
0.34 |
0.30 |
0.30 |
0.30 |
0.29 |
NOPAT to Interest Expense |
|
1.76 |
0.86 |
0.50 |
0.34 |
0.31 |
0.27 |
0.23 |
0.23 |
0.23 |
0.23 |
EBIT Less CapEx to Interest Expense |
|
2.36 |
1.11 |
0.67 |
0.36 |
0.39 |
0.33 |
0.30 |
0.29 |
0.29 |
0.20 |
NOPAT Less CapEx to Interest Expense |
|
1.72 |
0.85 |
0.50 |
0.25 |
0.30 |
0.26 |
0.23 |
0.22 |
0.22 |
0.13 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
8.07% |
7.59% |
7.68% |
8.16% |
9.04% |
10.15% |
11.21% |
11.77% |
12.10% |
12.35% |
Augmented Payout Ratio |
|
28.84% |
27.99% |
26.04% |
11.64% |
9.30% |
21.83% |
30.43% |
40.35% |
41.61% |
28.40% |
Key Financial Trends
Bridgewater Bancshares Inc (NASDAQ: BWBBP) has demonstrated consistent revenue growth over the past two years, with quarterly total revenues increasing from approximately $27.3 million in Q4 2022 to $29.5 million in Q4 2024. The primary driver is a steady increase in interest income, particularly from loans and leases, balanced against rising interest expense primarily from deposits.
Key positive financial trends and highlights:
- Net interest income rose from $32.9 million in Q4 2022 to approximately $26.97 million in Q4 2024, reflecting a strong core banking income stream despite fluctuating interest expenses.
- Quarterly net income available to common shareholders has remained solid, with $7.19 million in Q4 2024 compared to $12.7 million in Q4 2022, showing profitability under challenging market conditions.
- Total assets increased steadily from approximately $4.13 billion in Q3 2022 to about $4.69 billion by Q3 2024, indicating balance sheet growth.
- Common equity and total equity have grown from $315 million and $382 million respectively in Q3 2022 to about $386 million and $452 million by Q3 2024, improving capital buffers.
- Provision for credit losses has been relatively controlled, with a noticeable reduction to $2.18 million in Q4 2024, compared to higher or volatile levels in previous quarters, suggesting improving asset quality.
- Operating cash flow remains strong, with $34.58 million generated in Q4 2024 and generally positive cash flows from operating activities across the periods.
Neutral financial items to monitor:
- Non-interest income contributions remain modest but stable around $1.4 million to $2.5 million quarterly, including service charges, investment banking, and other fees.
- Interest expense has increased overall, particularly related to deposits and long-term debt, reaching about $36.3 million in Q4 2024, potentially reflecting rising interest rates.
- The weighted average shares outstanding have remained stable around 27.5 million, supporting earnings per share comparability.
- Capital expenditures on property and equipment fluctuate quarter to quarter, with occasional spikes, such as $3.42 million in Q4 2024.
Negative factors and concerns:
- Net income attributable to common shareholders has declined modestly from Q4 2022's $12.7 million to $7.19 million in Q4 2024, reflecting margin pressure and increased expenses.
- The bank's cost structure, including salaries, employee benefits, and other operating expenses, has risen over time, with total non-interest expenses increasing to $16.8 million in Q4 2024 from $15.2 million in Q4 2022.
- Cash flows from investing activities show consistent outflows due to heavy purchases of investment securities, hitting -$87 million in Q4 2024, which could pressure liquidity.
- The company's long-term debt has increased notably from $164 million in Q3 2022 to approximately $443 million by Q3 2024, potentially increasing financial leverage and interest burden.
- Accumulated other comprehensive loss has worsened, deepening from -$16.7 million in Q4 2022 to -$11.4 million in Q3 2024, potentially reflecting unrealized losses.
In summary, Bridgewater Bancshares shows strong growth in assets and a stable core interest income stream. The bank maintains profitability but faces margin pressures from increased interest expense and operational costs. Asset quality seems stable with moderate provisions. The increased debt levels and investment outflows warrant monitoring for future liquidity and leverage risk. Overall, the financials suggest moderate growth balanced by some headwinds typical for regional banks in a rising rate environment.
09/13/25 07:38 AM ETAI Generated. May Contain Errors.