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Dec 31, 2024
Bridgewater Bank Q4 2024 Earnings Report
Bridgewater Bancshares reported net income for Q4 2024, driven by balance sheet growth and margin expansion.
Key Takeaways
Bridgewater Bancshares, Inc. announced a net income of $8.2 million for the fourth quarter of 2024. The company completed the acquisition of First Minnetonka City Bank and experienced growth in core deposits and gross loans. Net interest margin also increased during the quarter.
Net income was $8.2 million, or $0.26 per diluted common share, with adjusted net income at $8.6 million, or $0.27 per diluted common share.
The acquisition of First Minnetonka City Bank (FMCB) was completed.
Net interest income increased by $1.4 million, or 5.3%, from the previous quarter.
Core deposits increased by $428.2 million, or 63.6% annualized, from the third quarter of 2024.
Forward Guidance
Bridgewater Bancshares aims for normalized levels of profitable growth in 2025.
Positive Outlook
- Strong core deposit growth
- Increased liquidity
- Favorable positioning for Fed rate cuts
- Robust balance sheet growth
- Superb asset quality
Challenges Ahead
- Interest rate risk
- Economic conditions
- Credit risk
- Cybersecurity threats
- Competition in the financial services industry
Historical Earnings Impact
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Avg. Return Before/After Earnings
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