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 (NASDAQ:BWBBP) has shown consistent financial performance over the past two years, reflecting steady growth in core banking operations alongside disciplined expense management. Analyzing the quarterly financials across income statements, balance sheets, and cash flow statements reveals several key trends and highlights worth noting:
- Net interest income has steadily increased from $28.57 million in Q1 2023 to $26.97 million in Q4 2024, showing resilience and stability in the bank's primary revenue source despite slight fluctuations.
- The company’s provision for credit losses has remained relatively low and stable, with $2.18 million in Q4 2024 compared to positive credit provisioning in previous quarters, indicating good asset quality and effective risk management.
- Non-interest income shows gradual growth, increasing from about $1.94 million in Q1 2023 to $2.53 million in Q4 2024, suggesting diversified revenue streams beyond traditional lending activities.
- Salaries and employee benefits expenses have risen slightly but in proportion to revenue growth, indicating controlled operating costs while supporting business expansion (e.g., $9.43 million in Q1 2023 to $10.6 million in Q4 2024).
- The bank’s total assets have increased over the periods analyzed (about $4.13 billion in Q3 2022 to $4.69 billion in Q3 2024), driven by growth in loans and leases as well as trading account securities, suggesting expanding lending activity and investment portfolio scale.
- Liquidity improved notably: cash and due from banks rose significantly, with quarterly cash changes positive in most recent quarters, reflecting sound cash management.
- Issuance and repayment of debt suggest ongoing capital and liquidity optimization, with large issuances offset by repayments (e.g., $298 million debt issuance vs. $288 million repayment in Q4 2024), supporting financial flexibility.
- Earnings per share (EPS) have been relatively stable during 2024, floating roughly around $0.26-$0.28 per quarter, reflecting steady net income but limited rapid growth in profitability per share.
- Dividends to preferred shareholders remained consistent at about $1 million per quarter, indicating ongoing capital return strategy but slightly impacting net income available to common shareholders.
- Non-interest expense includes fluctuations with some quarters showing increases, especially in property and liability insurance claims and other operating expenses, which may pressure margins if trends worsen.
Summary: Bridgewater Bancshares demonstrates steady fundamental financial health with growth in interest income and controlled credit losses. Asset growth and improving liquidity are positive signals for investors. The company maintains diversified income sources and demonstrates prudent financial management, particularly in managing debt issuance and repayments. While net income and EPS remain stable, ongoing attention to non-interest expenses and margin pressures will be important. Overall, the bank presents a balanced profile for cautious investors seeking stability in regional banking.
09/21/25 07:11 AM ETAI Generated. May Contain Errors.