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Bridgewater Bancshares (BWB) investor relations material
Bridgewater Bancshares Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Net income for Q3 2025 was $11.6 million ($0.38 per diluted share), with adjusted EPS of $0.39 and return on average tangible common equity of 10.86%, reflecting strong core deposit and loan growth and robust asset quality.
Tangible book value per share rose to $14.93, up 20% annualized from Q2 2025 and 10.7% from December 2024.
Completed the launch of a new online banking platform and the systems conversion of the First Minnetonka City Bank acquisition, incurring $530K in merger-related expenses.
Leadership transitions and succession plans announced, with internal promotions to key roles.
Announced closure of one acquired branch effective December 2025 and continued strategic marketing and hiring initiatives.
Financial highlights
Net interest income for Q3 2025 was $34.1 million, up $1.6 million (5.1%) sequentially and $8.5 million year-over-year, driven by strong deposit and loan growth.
Net interest margin expanded to 2.63%, up 1 basis point sequentially and 39 basis points year-over-year.
Total earning asset yields increased 7 basis points to 5.63% in Q3.
Noninterest income for Q3 2025 was $2.1 million, up $539,000 year-over-year, mainly from higher investment advisory and customer service fees.
Noninterest expense for Q3 2025 was $20.0 million, up $1.0 million sequentially and $4.2 million year-over-year, mainly due to higher salaries, benefits, and merger-related costs.
Efficiency ratio improved to 54.7% in Q3 2025 from 58.0% in Q3 2024; adjusted efficiency ratio was 53.2%.
Outlook and guidance
Positioned for meaningful net interest and margin expansion in Q4 and into 2026, targeting a 3% margin by early 2027, assuming 50 bps of additional rate cuts through 2026.
Expect mid to high single-digit loan growth in the near term, supported by strong pipelines, core deposit growth, and M&A disruption opportunities.
Expense growth anticipated to align with asset growth post-systems conversion, with ongoing investment in talent and technology.
Plan to close one acquired branch and open a new de novo branch in early 2026, expanding the Twin Cities footprint.
The balance sheet is positioned to benefit from recent interest rate cuts and a lower rate environment.
What drives NIM expansion in a rates-down environment?
Detail the increase in substandard loans
How will FMCB branch closure impact efficiency?
Key drivers for NIM expansion beyond 2026?
Target allocation for national affordable housing?
What could drive loan growth above current guidance?
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Next Bridgewater Bancshares earnings date
Q4 202529 Jan, 2026
Next Bridgewater Bancshares earnings date
Q4 202529 Jan, 2026
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Frequently asked questions
Bridgewater Bancshares Inc operates as a diversified financial services company with full-service commercial banking, investment and trust, public finance, asset management and insurance products. The Company's network of retail banking offices focuses on serving small businesses, commercial real estate investors and high net worth individuals. In addition to the retail banking network it operates four wholesale private bank divisions through Bridgewater Bank, a division of Bridgewater Bancshares. The company was incorporated in 2005 and is headquartered in Saint Louis Park, Minnesota.
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