Summary of Bridgewater Bancshares (BWB) FY Conference Call Company Overview - **Company Name**: Bridgewater Bancshares Inc. (BWB) - **Ticker Symbol**: BWB - **Founded**: February 2005 - **Location**: Minneapolis area, specifically Saint Louis Park - **Assets**: Approximately $5.3 billion, primarily focused on commercial banking and entrepreneurs - **Branches**: 9 branches, with 5 being De Novo and 4 acquired through small market acquisitions [3][4] Core Points and Arguments Growth and Market Position - **Market Position**: BWB has grown from the 14th largest locally led institution in the Twin Cities to the 2nd largest, only behind US Bank [9] - **Organic Growth**: Achieved 20% compounded growth over the last ten years, primarily through organic means, with only two small acquisitions [11] - **Core Deposits**: Core deposits have grown at an 11% rate over the last five years, which is crucial for the bank's growth strategy [13] Risk Management and Efficiency - **Risk Management**: BWB has maintained lower charge-offs compared to peers, emphasizing a strong risk management process [8] - **Efficiency Model**: The bank operates with a light branch footprint, which has driven profitability and efficiency, with a target efficiency ratio of 45-50% [29][41] Loan Portfolio and Asset Class Focus - **Loan Growth**: Focused on high-quality loans, particularly in the multifamily sector, which has grown from 21% in 2015 to nearly 40% today [17] - **Multifamily Lending**: This asset class has historically performed well, with only $62,000 in charge-offs over 20 years [19] - **Affordable Housing**: BWB sees significant growth opportunities in affordable housing, which has grown at a 15% rate over the last year [24] Financial Performance and Revenue Streams - **Net Interest Margin**: Recent expansion in net interest margin due to repricing of loans, with expectations for continued growth as older loans roll off [26][28] - **Non-Interest Income**: Focus on diversifying income streams, with a record quarter for non-interest income in 2025 [25] Regulatory Environment - **Regulatory Relationships**: Improved relationships with regulators, leading to quicker approvals for M&A transactions [52] Additional Important Insights - **Market Disruption**: BWB has capitalized on market disruptions caused by consolidation among larger banks, allowing it to attract clients from competitors [10][76] - **Technology Investments**: Significant investments in technology over the past five years are expected to pay off as growth resumes [38] - **M&A Strategy**: BWB remains disciplined in its M&A approach, focusing on complementary businesses [40] Conclusion Bridgewater Bancshares is strategically positioned for growth in the Twin Cities market, leveraging its strong risk management, efficient operations, and focus on multifamily and affordable housing lending. The bank's proactive approach to market disruptions and regulatory relationships further enhances its potential for continued success.

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ________ Commission File Number 001-38412 BRIDGEWATER BANCSHARES, INC. (Exact name of registrant as specified in its charter) ...

Financial Data and Key Metrics Changes - The company reported strong revenue and balance sheet growth trends, with net interest income increasing by $2.2 million during the quarter and net interest margin expanding by 11 basis points to 2.62% [5][12] - Tangible book value per share grew nearly 11% annualized year to date, resuming its consistent growth trend after a decline in 2024 due to an acquisition [8][34] - Noninterest income increased by $773,000 or 37% during the quarter, driven primarily by swap fee income [18][19] Business Line Data and Key Metrics Changes - The loan portfolio grew at an annualized rate of 12.5% in the second quarter, with total loans up 14.5% year to date, exceeding expectations for mid to high single-digit growth [23][24] - Core deposits increased by $16 million or 2% annualized, while total deposits rose by $74 million or 7% annualized [22] - The majority of loan growth was driven by non-owner occupied commercial real estate (CRE), with continued growth in multifamily and construction sectors [27][28] Market Data and Key Metrics Changes - The company noted a competitive landscape with tighter spreads due to increased market participation from other banks following liquidity concerns subsiding [51][60] - The ongoing market disruption from Old National's acquisition of Bremer Bank is expected to create additional growth opportunities [9][60] Company Strategy and Development Direction - The company aims to gain market share and capitalize on opportunities arising from market disruptions in the Twin Cities [39] - Two significant technology initiatives are planned for the third quarter, including an upgraded online banking platform and systems conversion from a recent acquisition [10][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued net interest margin expansion and loan growth, despite some headwinds from subordinated debt issuance [37][68] - The company remains focused on organic growth while exploring potential M&A opportunities, although no imminent deals are currently in sight [62] Other Important Information - The company repurchased $1.6 million of common stock early in the second quarter and has $13.1 million remaining under its current share repurchase authorization [9][34] - The overall credit profile remains strong, with nonperforming assets at 0.19% of total assets, well below peer levels [32] Q&A Session Summary Question: June average for the margin - The June average margin was $265 million [43] Question: Rate of securities sale relative to the total portfolio - The securities sold were primarily treasuries and mortgage-backed securities in the low 4s, below the blended securities portfolio yield [44][45] Question: Expectations for swap fees - Swap fees are expected to be more consistent going forward, although predicting exact quarterly amounts remains challenging [47][49] Question: Competition in the market - Increased competition has been noted, with local players returning to the market, but the company is optimistic about its strong pipeline [51][60] Question: Expectations for CRE growth - Growth in CRE is expected to align with other business lines, with a focus on affordable housing as a key growth driver [58][60] Question: NIM expansion outlook - Long-term expectations for NIM expansion remain positive, with ongoing loan repricing and opportunities to lower deposit costs [68][70]

Financial Performance - The company's reported diluted EPS was $038[6] - The company's reported Return on Average Assets was 090%[6] - The company's reported Return on Average Tangible Common Equity was 1093%[6] - The company's efficiency ratio was 526%[6] - Nonperforming assets to total assets was 019%[6] Net Interest Margin and Income - Net interest margin (NIM) increased by 11 bps from 1Q25 to 262%, while core NIM increased by 12 bps to 249%[6] - Net interest income increased by $22 million, or 74%, from 1Q25[6] Balance Sheet Growth - Loan balances increased by $126 million, or 125% annualized, from 1Q25[6] - Total deposit balances increased by $74 million, or 72% annualized, from 1Q25, with core deposit balances increasing by $16 million, or 21% annualized[6] Capital and Shareholder Value - Tangible book value per share increased by 92% annualized from 1Q25 to $1421[6] - The company repurchased 122,704 shares of common stock at an aggregate purchase price of $16 million, with an average price of $1280 per share[6]

Bridgewater (BWB) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +5.71%. A quarter ago, it was expected that this company would post earnings of $0.29 per share when it actually produced earnings of $0.32, delivering a surprise of +10.34%.Over the last four quarters, the company has ...

Exhibit 99.1 Investor Contact: Justin Horstman | VP Investor Relations Justin.Horstman@bwbmn.com | 952.542.5169 July 23, 2025 Media Contact: Jessica Stejskal | SVP Marketing Jessica.Stejskal@bwbmn.com | 952.893.6860 Bridgewater Bancshares, Inc. Announces Second Quarter 2025 Financial Results Second Quarter 2025 Highlights (1) Represents a non-GAAP financial measure. See "Non-GAAP Financial Measures" for further details. (2) Core deposits are defined as total deposits less brokered deposits and certificates ...

The market expects Bridgewater (BWB) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Core Viewpoint - Bridgewater (BWB) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of changing earnings estimates, which are closely correlated with short-term stock price movements [3][5]. - Institutional investors often rely on earnings estimates to determine a company's fair value, leading to buying or selling actions that affect stock prices [3]. Bridgewater's Earnings Outlook - The upgrade reflects an improvement in Bridgewater's underlying business, with rising earnings estimates expected to drive the stock price higher [4]. - For the fiscal year ending December 2025, Bridgewater is projected to earn $1.43 per share, representing a 36.2% increase from the previous year [7]. - Over the past three months, the Zacks Consensus Estimate for Bridgewater has risen by 11.8% [7]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, indicating superior earnings estimate revisions [8][9].

Core Viewpoint - The recent 90-day pause in the U.S.-China trade conflict has created a temporary positive sentiment in the market, but without a comprehensive trade agreement and clearer economic policies, market volatility is expected to persist [1] Group 1: Investment Strategy - Creating a curated portfolio of low-beta stocks is recommended as a strategy to navigate market volatility [1] - Stocks with a beta between 0 and 0.6 are considered less volatile than the market, making them suitable for this strategy [5][6] Group 2: Stock Recommendations - Bridgewater Bancshares, Inc. (BWB) is experiencing growth in lending and deposits, particularly in affordable housing, while managing risks effectively and buying back shares [7] - Stride Inc. (LRN) is positioned for long-term success through innovative educational solutions and a focus on school choice [8] - 908 Devices Inc. (MASS) is concentrating on handheld devices for drug threats and border security, with accelerating sales and plans for profitability by 2026 [10] - Philip Morris International Inc. (PM) is transitioning to smoke-free products, focusing on heated tobacco and nicotine pouches, while also rewarding shareholders [11]

Company Overview - Bridgewater (BWB) currently holds a Momentum Style Score of B, indicating a positive outlook based on its recent performance metrics [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, BWB shares have increased by 9.27%, outperforming the Zacks Banks - Northeast industry, which rose by 3.01% [5] - In a longer time frame, BWB's monthly price change is 27.99%, significantly higher than the industry's 9.56% [5] - For the last three months, BWB shares have risen by 5.22%, and over the past year, they have increased by 32.3%, while the S&P 500 has moved -5.55% and 13.72%, respectively [6] Trading Volume - BWB's average 20-day trading volume is 145,795 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for BWB have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $1.28 to $1.43 [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions during the same period [9] Conclusion - Considering the positive price trends, trading volume, and earnings outlook, BWB is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]