Bridgewater Bancshares Inc 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934For the quarterly period ended March31,2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934For the transition period from ____________ to ________Commission File Number 001-38412 BRIDGEWATER BANCSHARES,INC. 26-0113412(I.R.S. EmployerIdentification No.) Minnesota(State or other jurisdiction ofincorporation or organization)4450 Excelsior Boulevard, Suite 100St. Louis Park, Minnesota(Address of principal executive offices) 55416(Zip Code) (952)893-6868(Registrant’s telephone number, including area code) Indicate by check mark whether the registrant (1)hasfiled all reports required to befiled by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile suchreports), and (2)has been subject to suchfiling requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter periodthat the registrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, smallerreporting company, or an emerging growth company. See the definitions of “large acceleratedfiler,” “acceleratedfiler,” “smaller reportingcompany,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Acceleratedfiler☒Smaller reporting company☐ Largeacceleratedfiler☐Non-acceleratedfiler☐ Emerginggrowthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒The number of shares of the Common Stock outstanding as of April 28, 2026 was 27,883,367. Table of Contents PARTI FINANCIAL INFORMATION3 Item1. Consolidated Financial Statements (unaudited)3Consolidated Balance Sheets3Consolidated Statements of Income4Consolidated Statements of Comprehensive Income5Consolidated Statements of Shareholders’ Equity6Consolidated Statements of Cash Flows7Notesto Consolidated Financial Statements8Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations40Item3. Quantitative and Qualitative Disclosures About Market Risk65Item4. Controls and Procedures66 PARTII OTHER INFORMATION Item1. Legal ProceedingsItem1A. Risk FactorsItem2. Unregistered Sales of Equity Securities and Use of ProceedsItem3. Defaults Upon Senior SecuritiesItem4. Mine Safety DisclosuresItem5. Other InformationItem6. Exhibits 67676768686869 SIGNATURES70 PART1– FINANCIAL INFORMATION Bridgewater Bancshares,Inc. and SubsidiariesConsolidated Balance Sheets(dollars in thousands, except share data) Bridgewater Bancshares,Inc. and SubsidiariesConsolidated Statements of Income(dollars in thousands, except per share data)(Unaudited) Bridgewater Bancshares,Inc. and SubsidiariesConsolidated Statements of Comprehensive Income(dollars in thousands)(Unaudited) Bridgewater Bancshares,Inc. and SubsidiariesConsolidated Statements of Shareholders’ EquityThree Months Ended March31,2026 and 2025(dollars in thousands, except share data)(Unaudited) Bridgewater Bancshares,Inc. and SubsidiariesConsolidated Statements of Cash Flows(dollars in thousands)(Unaudited) Bridgewater Bancshares,Inc. and SubsidiariesNotesto Consolidated Financial Statements(Unaudited) Organization Bridgewater Bancshares,Inc. (the “Company”) is afinancial holding company headquartered in St.Louis Park, Minnesota, whose operations consist of the ownership of its wholly-owned subsidiary,Bridgewater Bank (the “Bank”). The Bank commenced operations in 2005 and provides retail andcommercial loan and deposit services, principally to customers within the Twins Cities MSA. In 2008, theBank formed BWB Holdings, LLC, a wholly-owned subsidiary of the Bank, for the purpose of holdingrepossessed property. In 2018, the Bank formed Bridgewater Investment Management, Inc., a wholly-ownedsubsidiary of the Bank, for the purpose of holding certain municipal securities and to engage in municipallending activities. Recent Developments In February 2026, the Company opened a new branch location in Lake Elmo, Minnesota toexpand the Company’s presence in the eastern side of the Twin Cities market. On February 27, 2026, the Company and its wholly owned subsidiary, Bridgewater Bank, enteredinto an equity distribution agreement with Piper Sandler & Co., as distribution agent, pursuant to which theCompany may offer and