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Jun 30, 2022
Bridgewater Bank Q2 2022 Earnings Report
Net income increased year-over-year and diluted earnings per share also increased.
Key Takeaways
Bridgewater Bancshares, Inc. reported a net income of $12.9 million for the second quarter of 2022, representing a 17.2% increase compared to the same quarter last year. Diluted earnings per share were $0.41, a 9.2% increase year-over-year. The company saw record revenue and continued balance sheet growth.
Diluted earnings per common share were $0.41 for the second quarter of 2022, compared to $0.39 per common share for the first quarter of 2022.
Record pre-provision net revenue (PPNR) of $20.4 million for the second quarter of 2022, compared to $18.3 million for the first quarter of 2022, an increase of $2.1 million, or 11.4%.
Annualized return on average assets (ROA) and annualized return on average shareholders’ equity (ROE) for the second quarter of 2022 were 1.38% and 13.55%, compared to ROA and ROE of 1.42% and 12.98%, respectively, for the first quarter of 2022.
Deposits increased $166.3 million in the second quarter of 2022, or 22.0% annualized, compared to the first quarter of 2022.
Forward Guidance
The company remains focused on the impact of continued interest rate hikes and the evolving shape of the yield curve throughout 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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