Bridgewater Bancshares, Inc. (NASDAQ:BWB) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET Company Participants Justin Horstman - Vice President of Investor Relations Jerry Baack - President & Chief Executive Officer Joe Chybowski - President & Chief Financial Officer Nick Place - Chief Lending Officer Conference Call Participants Brendan Nosal - Hovde Group Jeff Rulis - D.A. Davidson Nathan Race - Piper Sandler Operator Good morning, and welcome to the Bridgewater Bancshares 2024 Second Quarter Ea ...

Net Interest Income and Margin Trends Net Interest Margin Drivers $2,711 $2,857 $2,909 $2,961 $2,984 $755 $755 $753 $701 $692 $546 $408 $415 $434 $461 $4,012 $4,020 $4,077 $4,096 $4,137 2.91% 3.10% 3.23% 3.34% 3.49% 2Q23 3Q23 4Q23 1Q24 2Q24 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation Dollars in thousands $15,237 $15,740 $15,189 $15,539 9% 10% 26% 27% Dollars in millions $106 $102 $60 $45 $166 $147 $58 $44 $102 Dollars in millions Tangible Book Value Per Share1 Growth ...

Bridgewater (BWB) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.24, delivering a surprise of -4%. The sustainability of the stock's immediate price ...

Total on- and off-balance sheet liquidity was $2.22 billion as of June 30, 2024, compared to $2.25 billion at March 31, 2024 and $1.96 billion at June 30, 2023. Asset Quality Capital Tangible book value per share, a non-GAAP financial measure, was $13.53 as of June 30, 2024, an increase of 2.4% from $13.20 as of March 31, 2024, and an increase of 11.4% from $12.15 as of June 30, 2023. ● The Company has increased tangible book value per share each of the past 30 quarters. Page 6 of 17 This earnings release c ...

Introduction Bridgewater Bancshares Financial Performance lillisphotography Bridgewater Bancshares, Inc. (NASDAQ:BWB) is a Minnesota-based regional bank that has been dealing with the industry pressures of higher interest rates and lower deposits over the past couple of years. Back in February, I examined why the bank's preferred share was a great income investment. After examining the most recent financial statements, I believe Bridgewater Bancshares preferred shares are still a good buy for income investo ...

FORM 10-Q (952) 893-6868 (Registrant's telephone number, including area code) share . Securities registered pursuant to Section 12(b) of the Act: Title of eachclass: Trading Symbol Name of eachexchange onwhichregistered: Common Stock, $0.01 Par Value BWB The Nasdaq Stock Market LLC Depositary Shares, each representing a BWBBP The Nasdaq Stock Market LLC th interest in a share of 5.875% 1/100 Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per PART I FINANCIAL INFORMATION 3 PART II OTHER ...

Bridgewater Bancshares, Inc. (NASDAQ:BWB) Q1 2024 Earnings Conference Call April 25, 2024 9:00 AM ET Company Participants Justin Horstman - Vice President of Investor Relations Jerry Baack - President and Chief Executive Officer Joe Chybowski - Chief Financial Officer Jeff Shellberg - Chief Credit Officer Nick Place - Chief Lending Officer Conference Call Participants Brendan Nosal - Hovde Group Nathan Race - Piper Sandler Jeffrey Rulis - D.A. Davidson Operator Good morning, and welcome to the Bridgewater B ...

Bridgewater (BWB) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4%. A quarter ago, it was expected that this company would post earnings of $0.26 per share when it actually produced earnings of $0.28, delivering a surprise of 7.69%.Over the last four quarters, the company has surpa ...

Exhibit 99.1 Media Contact: Jessica Stejskal | SVP Marketing Jessica.Stejskal@bwbmn.com | 952.893.6860 April 24, 2024 First Quarter 2024 Highlights ● Repurchased 193,802 shares of common stock at a weighted average price of $11.75 per share, for a total of $2.3 million. ● Loan-to-deposit ratio of 99.4%, compared to 100.4% at December 31, 2023. ● Efficiency ratio(1) of 58.2%, compared to 58.8% for the fourth quarter of 2023. Page 1 of 16 "During the first quarter, we also saw net interest margin compression ...

Financial Performance - Net Interest Income decreased to $105.2 million in 2023 from $129.7 million in 2022, a decline of 18.9%[253] - Net Income Available to Common Shareholders dropped to $39.96 million in 2023 from $53.39 million in 2022, a decrease of 25.2%[253] - Return on Average Assets (ROA) decreased to 0.89% in 2023 from 1.38% in 2022[253] - Efficiency Ratio worsened to 53.0% in 2023 from 41.5% in 2022[253] Asset and Loan Growth - Total Assets grew by 6.1% to $4.61 billion in 2023 from $4.35 billion in 2022[253] - Total Loans, Gross increased by 4.3% to $3.72 billion in 2023 from $3.57 billion in 2022[253] - Total interest-bearing deposits increased to $2.75 billion in 2023, up from $2.22 billion in 2022, with an average interest rate of 3.50%[268] Credit Quality - Nonperforming Loans to Total Loans ratio remained stable at 0.02% in 2023, consistent with 2022[254] - Allowance for Credit Losses on Loans to Total Loans ratio was 1.36% in 2023, slightly up from 1.34% in 2022[254] - Net Loan Charge-Offs to Average Loans ratio was 0.01% in 2023, compared to -0.01% in 2022[254] - The allowance for credit losses on loans is adjusted based on provisions or recoveries reported in the income statement, impacting the allowance for credit losses on off-balance sheet exposures[258] Interest Rate and Net Interest Margin - Net interest income is calculated on a tax-equivalent basis, with a 21% federal tax rate assumption, and is influenced by the FOMC's rate increases of 100 basis points in 2023 and 425 basis points in 2022[266] - The net interest margin for 2023 was 2.42%, compared to 3.45% in 2022 and 3.54% in 2021[269] - The company's net interest income would decrease by 2.39% in the event of an immediate and sustained 400 basis point increase in interest rates[796] - The company's net interest income would increase by 8.86% in the event of an immediate 300 basis point decrease in interest rates[796] - Forecasted net interest income for a +400 basis point change is $118,597, representing a 2.39% decrease from the base[797] - Forecasted net interest income for a +300 basis point change is $118,983, representing a 2.08% decrease from the base[797] - Forecasted net interest income for a +200 basis point change is $119,395, representing a 1.74% decrease from the base[797] - Forecasted net interest income for a +100 basis point change is $119,916, representing a 1.31% decrease from the base[797] - Forecasted net interest income for a -100 basis point change is $125,138, representing a 2.99% increase from the base[797] - Forecasted net interest income for a -200 basis point change is $128,643, representing a 5.87% increase from the base[797] - Forecasted net interest income for a -300 basis point change is $132,269, representing an 8.86% increase from the base[797] - The company uses a net interest income simulation model to measure potential changes in net interest income over the next 12 months, assuming no growth in interest-sensitive assets or liabilities[795] Capital and Risk Management - Tier 1 Leverage Ratio improved slightly to 9.57% in 2023 from 9.55% in 2022[253] - The Company's cash flow hedges had a total notional amount of $308.0 million at December 31, 2023, up from $288.0 million in 2022, aimed at managing interest rate exposure[794] Fair Value Measurement - The fair value of investment securities is determined using pricing models, broker quotes, and net present value of future cash flows, with adjustments made if a more appropriate fair value is identified[260] - The Company uses a three-level hierarchy to measure the fair value of financial instruments, considering observable market data and matrix pricing for non-traded instruments[261][263]