Bridgewater Bancshares, Inc. (NASDAQ: BWB) (“Bridgewater” or “the company”) is the holding company for principal subsidiary, Bridgewater Bank (“the bank”), which was formed in 2005 by Chairman and CEO, Jerry Baack, and became publicly traded in March 2018. Given the company’s ability to generate robust loan growth (15% 5-year CAGR), which is supported by the development of the BWB brand, market disruption (M&A in footprint), favorable economics in the Twin Cities, and the ability to consistently attract new talent, specifically lenders, Bridgewater has not generally needed to rely on acquisitions. That said, BWB recently closed a relatively small-scale acquisition of First Minnetonka City Bank (FMCB) in 4Q24 adding $245 million in assets. With an emphasis on commercial banking, BWB maintains a branch-lite operating model, with just 9 locations in the Twin Cities MSA, in which the company reflects the second largest deposit market share among locally…
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