Bridgewater Bancshares (BWB) Investor presentation summary

Company overview and market position

• Headquartered in St. Louis Park, MN, with $5.4B in assets, $4.3B in loans, and $4.3B in deposits as of December 31, 2025.

• Operates a branch-light model focused on the Twin Cities, serving a commercial-focused client base.

• Second largest locally-led bank in the Twin Cities, with consistent market share gains and strong local brand presence.

• Emphasizes commercial real estate (CRE), multifamily, and affordable housing lending.

• Completed the acquisition of First Minnetonka City Bank in December 2024, supporting further growth.

Strategic direction and leadership

• Led by a seasoned executive team with deep industry experience and strong shareholder alignment.

• Maintains a disciplined growth strategy, balancing organic expansion with opportunistic M&A.

• Focuses on professional development, employee retention, and a transparent, entrepreneurial culture.

• Strategic priorities for 2026 include optimizing profitable growth, expanding affordable housing, leveraging technology, and maintaining strong credit quality.

Financial performance and efficiency

• Achieved 19% CAGR in asset growth since 2015, with 11% YoY loan growth in 2025.

• Efficiency ratio consistently outperforms peers, supported by a branch-light, CRE-focused model.

• Net interest income grew 5% in 4Q25, with net interest margin expanding 12 bps to 2.75%.

• Revenue model is 92% spread-based, with increasing noninterest income from swap and advisory fees.

• Maintains stable capital and liquidity positions, with CET1 ratio at 9.08% and 1.9x coverage of uninsured deposits.