Bridgewater Bancshares Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
BWB$20.64+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
(dollars in thousands, except per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended | ||||||
| · · March 31, · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| INTEREST INCOME · · | ||||||
| Loans, Including Fees | | $49,581 | | $44,955 | ||
| Investment Securities | | 7,916 | | 6,218 | ||
| Other | | 1,172 | | 819 | ||
| Total Interest Income | | 58,669 | | 51,992 | ||
| | | | | | | |
| INTEREST EXPENSE | | | | | ||
| Deposits | | 30,190 | | 16,374 | ||
| Federal Funds Purchased | | | 304 | | | 4,944 |
| Notes Payable | | 295 | | 263 | ||
| FHLB Advances | | 2,258 | | 861 | ||
| Subordinated Debentures | | 991 | | 983 | ||
| Total Interest Expense | | 34,038 | | 23,425 | ||
| | | | | | | |
| NET INTEREST INCOME | | 24,631 | | 28,567 | ||
| Provision for Credit Losses | | 750 | | 625 | ||
| | | | | | | |
| NET INTEREST INCOME AFTER | | | ||||
| PROVISION FOR CREDIT LOSSES | | 23,881 | | 27,942 | ||
| | | | | | | |
| NONINTEREST INCOME | | | ||||
| Customer Service Fees | | 342 | | | 349 | |
| Net Gain (Loss) on Sales of Available for Sale Securities | | 93 | | | (56) | |
| Letter of Credit Fees | | 316 | | | 634 | |
| Debit Card Interchange Fees | | | 141 | | | 138 |
| Bank-Owned Life Insurance | | | 301 | | | 234 |
| FHLB Prepayment Income | | | — | | | 299 |
| Other Income | | | 357 | | | 345 |
| Total Noninterest Income | | 1,550 | | 1,943 | ||
| | | | | | | |
| NONINTEREST EXPENSE | | | ||||
| Salaries and Employee Benefits | | 9,433 | | | 8,815 | |
| Occupancy and Equipment | | 1,057 | | | 1,209 | |
| FDIC Insurance Assessment | | 875 | | | 665 | |
| Data Processing | | | 412 | | | 357 |
| Professional and Consulting Fees | | | 889 | | | 755 |
| Derivative Collateral Fees | | | 486 | | | 380 |
| Information Technology and Telecommunications | | | 796 | | | 683 |
| Marketing and Advertising | | | 322 | | | 262 |
| Intangible Asset Amortization | | | 9 | | | 48 |
| Other Expense | | | 910 | | | 895 |
| Total Noninterest Expense | | 15,189 | | 14,069 | ||
| | | | | | | |
| INCOME BEFORE INCOME TAXES | | 10,242 | | 15,816 | ||
| Provision for Income Taxes | | 2,411 | | 4,174 | ||
| NET INCOME | | | 7,831 | | | 11,642 |
| Preferred Stock Dividends | | | (1,013) | | | (1,013) |
| NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | | $6,818 | | $10,629 | ||
| | | | | | | |
| EARNINGS PER SHARE | | | | |||
| Basic | | $0.25 | | $0.38 | ||
| Diluted | | | 0.24 | | | 0.37 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.