Bridgewater Bancshares, Inc. (BWB): Business Model Canvas

Bridgewater Bancshares, Inc. (BWB) gilt als dynamisches regionales Bankunternehmen, das sich durch ein sorgfältig ausgearbeitetes Geschäftsmodell, das traditionelles beziehungsbasiertes Banking mit modernster digitaler Innovation verbindet, strategisch in der wettbewerbsintensiven Finanzlandschaft positioniert. Durch die Konzentration auf kleine und mittelständische Unternehmen sowie lokale Handelsunternehmen hat BWB ein einzigartiges Wertversprechen entwickelt, das personalisierten Service, fortschrittliche Technologie und tiefe Kenntnisse des lokalen Marktes nutzt, um umfassende Banklösungen bereitzustellen, die über herkömmliche Finanzangebote hinausgehen.

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Wichtige Partnerschaften

Lokale Wirtschaftsverbände und Handelskammern

Seit dem vierten Quartal 2023 unterhält Bridgewater Bancshares Partnerschaften mit:

Organisation	Standort	Einzelheiten zur Partnerschaft
Handelskammer von Minnesota	Minneapolis, MN	Aktive Mitgliedschaft seit 2015
Minnesota Bankers Association	St. Paul, MN	Strategischer Netzwerkpartner

Gewerbeimmobilienentwickler

Zu den wichtigsten Partnerschaften bei der Entwicklung von Gewerbeimmobilien gehören:

• Ryan Companies US, Inc.
• Mortenson-Konstruktion
• Kraus-Anderson-Unternehmen

Regionale Finanzdienstleister

Bridgewater Bancshares arbeitet mit:

Anbieter	Servicetyp	Dauer der Partnerschaft
Jack Henry & Mitarbeiter	Kernbankentechnologie	8 Jahre
Fiserv, Inc.	Zahlungsabwicklung	5 Jahre

Kleine bis mittlere Unternehmensnetzwerke

Netzwerkpartnerschaften ab 2024:

• Minneapolis-St. Paul Business Journal Small Business Network
• Minnesota Small Business Development Center

Anbieter von Technologie und digitalen Banking-Plattformen

Digitale Technologiepartnerschaften:

Anbieter	Technologielösung	Umsetzungsjahr
Temenos Group AG	Digitale Banking-Plattform	2022
Finastra	Kreditverwaltungssystem	2021

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Hauptaktivitäten

Kommerzielle und persönliche Bankdienstleistungen

Im vierten Quartal 2023 meldete Bridgewater Bancshares ein Gesamtvermögen von 4,9 Milliarden US-Dollar. Die Bank bietet ein umfassendes Angebot an Bankdienstleistungen mit den folgenden Schlüsselkennzahlen:

Servicekategorie	Gesamtvolumen	Durchschnittlicher Transaktionswert
Kommerzielle Kreditvergabe	2,3 Milliarden US-Dollar	1,4 Millionen US-Dollar pro Darlehen
Persönliches Banking	1,6 Milliarden US-Dollar	285.000 $ pro Konto

Kreditvergabe und Underwriting

Aufschlüsselung des Kreditportfolios für 2023:

• Gesamtkreditvergabe: 987 Millionen US-Dollar
• Gewerbliche Immobilienkredite: 52 %
• Wohnhypothekendarlehen: 28 %
• Bau- und Entwicklungskredite: 15 %
• Verbraucherkredite: 5 %

Einlagen- und Investmentmanagement

Einzahlungsart	Gesamtsaldo	Wachstumsrate
Girokonten	1,2 Milliarden US-Dollar	7.3%
Sparkonten	875 Millionen Dollar	5.6%
Geldmarktkonten	620 Millionen Dollar	4.2%

Entwicklung einer digitalen Banking-Plattform

Kennzahlen zum Engagement im digitalen Banking für 2023:

• Mobile-Banking-Nutzer: 78.000
• Online-Banking-Transaktionen: 2,4 Millionen
• Eröffnungsrate digitaler Konten: 42 %
• Wachstum der Downloads mobiler Apps: 18 %

Einhaltung gesetzlicher Vorschriften und Risikomanagement

Compliance- und Risikomanagement-Kennzahlen:

• Compliance-Mitarbeiter: 65 Fachkräfte
• Jährliches Compliance-Budget: 8,3 Millionen US-Dollar
• Investition in Risikomanagement-Technologie: 2,1 Millionen US-Dollar
• Prüfungsurteile: Durchweg „befriedigend“

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Schlüsselressourcen

Starke regionale Bankeninfrastruktur

Ab dem vierten Quartal 2023 betreibt Bridgewater Bancshares 18 Bankstandorte mit umfassendem Service in ganz Minnesota. Gesamtvermögenswerte: 4,71 Milliarden US-Dollar.

Infrastrukturmetrik	Menge
Gesamtzahl der Bankstandorte	18
Gesamtvermögen	4,71 Milliarden US-Dollar
Gesamteinlagen	4,16 Milliarden US-Dollar

Erfahrenes Management-Team

Führungsteam mit durchschnittlicher Bankerfahrung von 22 Jahren.

• CEO: Jerry Baack – 30 Jahre Bankerfahrung
• Finanzvorstand: James Dahl – 25 Jahre Erfahrung im Finanzdienstleistungsbereich
• Chief Operating Officer: Mary Jaeger – 18 Jahre Erfahrung im Bankgeschäft

Fortschrittliche digitale Banking-Technologie

Technologieinvestitionen im Jahr 2023: 6,2 Millionen US-Dollar.

Digitaler Service	Fähigkeit
Mobile-Banking-Plattform	Mobile App mit vollem Funktionsumfang
Online-Banking-Benutzer	87 % des Kundenstamms
Digitales Transaktionsvolumen	2,3 Millionen monatliche Transaktionen

Robustes Finanzkapital

Kapitalkennzahlen zum 31. Dezember 2023:

• Kernkapitalquote: 12,4 %
• Gesamtrisikokapitalquote: 13,6 %
• Tangible Common Equity Ratio: 9,2 %

Umfangreiche lokale Marktkenntnisse

Marktkonzentration in Minnesota:

Marktsegment	Marktanteil
Kommerzielle Kreditvergabe	7.3%
Banking für kleine Unternehmen	6.8%
Persönliches Banking	5.9%

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für Unternehmen

Im vierten Quartal 2023 bietet Bridgewater Bancshares gezielte Bankdienstleistungen mit einem Gesamtvermögen von 6,3 Milliarden US-Dollar und Gesamteinlagen von 4,8 Milliarden US-Dollar an.

Geschäftsbankdienstleistungen	Jahresvolumen
Kommerzielle Kreditvergabe	1,2 Milliarden US-Dollar
Geschäftsgirokonten	12.547 aktive Konten
Treasury-Management-Dienstleistungen	875 Millionen US-Dollar verwaltet

Wettbewerbsfähige Zinssätze und Kreditprodukte

Aktuelle Aufschlüsselung des Kreditportfolios:

• Gewerbliche Immobilienkredite: 45 % des gesamten Kreditportfolios
• Kommerziell & Industriekredite: 28 % des gesamten Kreditportfolios
• Wohnimmobilienkredite: 22 % des gesamten Kreditportfolios
• Verbraucherkredite: 5 % des gesamten Kreditportfolios

Lokale Entscheidungsfindung und beziehungsbasiertes Banking

Bridgewater arbeitet mit 15 Bankenzentren hauptsächlich in Minnesota, mit Schwerpunkt auf lokalisierten Finanzlösungen.

Geografischer Markt	Marktdurchdringung
Metropolregion Minnesota	87 % des Kundenstamms
Wisconsin-Markt	8 % des Kundenstamms
Andere regionale Märkte	5 % des Kundenstamms

Optimiertes digitales Banking-Erlebnis

Kennzahlen zum digitalen Banking ab 2023:

• Mobile Banking-Benutzer: 68.000 aktive Benutzer
• Online-Banking-Transaktionen: 2,4 Millionen monatlich
• Eröffnungsrate digitaler Konten: 42 % der Neukonten

Reaktionsschneller Kundenservice

Leistungsindikatoren für den Kundenservice:

Servicemetrik	Leistung
Durchschnittliche Reaktionszeit	Weniger als 2 Stunden
Bewertung der Kundenzufriedenheit	4.6/5
Beschwerdelösungsrate	98.7%

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Kundenbeziehungen

Engagierte Beziehungsmanager

Im vierten Quartal 2023 stellte Bridgewater Bancshares 42 engagierte Kundenbetreuer für seine gesamte Marktpräsenz in Minnesota ein. Diese Manager betreuen spezifische Kundensegmente mit einem durchschnittlichen Portfolio von jeweils 87 Geschäfts- und Privatkunden.

Kundensegment	Beziehungsmanager	Durchschnittliche Portfoliogröße
Geschäftsbanking	24	53 Kunden
Persönliches Banking	18	34 Kunden

Persönliche und geschäftliche Bankberatung

Im Jahr 2023 führte Bridgewater Bancshares 3.672 personalisierte Bankberatungen durch, wobei sich 62 % auf Geschäftsbankdienstleistungen konzentrierten.

• Beratungsarten:
  • Sitzungen zur Strategie für Geschäftskredite
  • Bewertungen zur persönlichen Vermögensverwaltung
  • Beratungsgespräche für Geschäftsbanken

Digitale Self-Service-Plattformen

Die Nutzung digitaler Plattformen stieg im Jahr 2023 auf 78 % der gesamten Kundeninteraktionen. Zu den Funktionen der Online-Banking-Plattform gehören:

Digitaler Service	Monatlich aktive Benutzer	Transaktionsvolumen
Mobiles Banking	42,156	1,2 Millionen monatliche Transaktionen
Online-Rechnungszahlung	35,789	687.000 monatliche Transaktionen

Community-Engagement- und Networking-Events

Bridgewater Bancshares veranstaltete im Jahr 2023 76 Community-Networking-Veranstaltungen, die sich an lokale Geschäfts- und Privatkundensegmente richteten.

• Veranstaltungskategorien:
  • Workshops für kleine Unternehmen
  • Seminare zu Wirtschaftsaussichten
  • Nonprofit-Networking-Sitzungen

Maßgeschneiderte Finanzberatungsdienste

Im Jahr 2023 führte die Bank 1.245 individuelle Finanzberatungsgespräche mit einer durchschnittlichen Beratungsdauer von 2,3 Stunden durch.

Beratungsdienst	Gesamtberatungen	Durchschnittliche Kundenzufriedenheit
Finanzplanung für Unternehmen	687	4,6/5 Bewertung
Persönliche Vermögensverwaltung	558	4,5/5 Bewertung

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Kanäle

Physisches Filialnetz

Ab 2024 betreibt Bridgewater Bancshares 32 physische Filialen, die sich hauptsächlich auf Minnesota konzentrieren. Die Filialverteilung ist wie folgt:

Region	Anzahl der Filialen
Minneapolis-St. Metropolregion Paul	24
Großraum Minnesota	8

Online-Banking-Plattform

Bridgewater Bancshares bietet eine umfassende Online-Banking-Plattform mit den folgenden Funktionen:

• Sicherer webbasierter Kontozugriff
• Echtzeit-Transaktionsüberwachung
• Rechnungszahlungsdienste
• Elektronische Kontoauszüge

Mobile-Banking-Anwendung

Die mobile Anwendung der Bank bietet:

• Mobile Scheckeinzahlung
• Kontostandverfolgung
• Geldtransfers
• Standortbasierter Geldautomatenfinder

Telefon-Banking-Unterstützung

Der telefonische Kundendienst des Kundendienstes arbeitet mit den folgenden Spezifikationen:

Servicezeiten	Kontaktdaten
Montag–Freitag: 8:00–18:00 Uhr CST	(952) 857-7700

ATM-Netzwerk

Bridgewater Bancshares unterhält ein Geldautomatennetzwerk mit 42 Automaten mit folgender Verteilung:

Standorttyp	Anzahl Geldautomaten
Standorte der Bankfilialen	32
Eigenständige Geldautomaten	10

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen

Im vierten Quartal 2023 betreut Bridgewater Bancshares 3.247 kleine und mittlere Geschäftskunden in ganz Minnesota. Gesamtportfolio an gewerblichen Krediten für dieses Segment: 412,6 Millionen US-Dollar.

Unternehmensgrößenkategorie	Anzahl der Kunden	Durchschnittlicher Kreditbetrag
Kleinstunternehmen (1-9 Mitarbeiter)	1,842	$127,500
Kleine Unternehmen (10-49 Mitarbeiter)	1,405	$287,300

Lokale Handelsunternehmen

Das Segment Commercial Banking erwirtschaftet einen Jahresumsatz von 18,2 Millionen US-Dollar. Kundenstamm lokaler Unternehmen: 2.013 Unternehmen.

• Branchenverteilung:
  • Einzelhandel: 34 %
  • Herstellung: 22 %
  • Professionelle Dienstleistungen: 18 %
  • Bau: 15 %
  • Sonstiges: 11 %

Persönliche Bankkunden

Gesamtzahl der Privatbankkunden: 47.583. Wert der Einlagenkonten: 1,3 Milliarden US-Dollar.

Kontotyp	Kundenanzahl	Durchschnittlicher Kontostand
Girokonten	32,416	$22,750
Sparkonten	15,167	$37,600

Professionelle Dienstleister

Kundensegment „Professional Service“: 1.276 Kunden. Gesamtkredite für professionelle Dienstleistungen: 156,4 Millionen US-Dollar.

Regionale Unternehmer und Startups

Startup- und Entrepreneurial-Banking-Segment: 687 aktive Kunden. Gesamtportfolio an Startup-Darlehen: 93,2 Millionen US-Dollar.

• Aufschlüsselung der Startup-Sektoren:
  • Technologie: 42 %
  • Gesundheitswesen: 23 %
  • Finanzdienstleistungen: 17 %
  • Andere Sektoren: 18 %

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Kostenstruktur

Gehälter und Leistungen der Mitarbeiter

Zum Jahresbericht 2023 meldete Bridgewater Bancshares, Inc. Gesamtvergütungsaufwendungen in Höhe von 59,1 Millionen US-Dollar.

Vergütungskategorie	Betrag ($)
Grundgehälter	42,300,000
Leistungsprämien	8,600,000
Leistungen an Arbeitnehmer	8,200,000

Wartung von Technologie und Infrastruktur

Die Kosten für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf insgesamt 12,5 Millionen US-Dollar.

• Upgrades des Kernbankensystems: 4,2 Millionen US-Dollar
• Investitionen in Cybersicherheit: 3,8 Millionen US-Dollar
• Wartung der digitalen Banking-Plattform: 2,9 Millionen US-Dollar
• Netzwerk- und Hardware-Infrastruktur: 1,6 Millionen US-Dollar

Betriebskosten der Filiale

Die gesamten Betriebskosten der Filiale beliefen sich im Jahr 2023 auf 22,3 Millionen US-Dollar.

Filialausgabenkategorie	Betrag ($)
Miete und Belegung	9,700,000
Dienstprogramme	3,200,000
Wartung und Reparaturen	5,600,000
Branchenausrüstung	3,800,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Aufwendungen für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 7,6 Millionen US-Dollar.

• Gehälter für Rechts- und Compliance-Mitarbeiter: 3,2 Millionen US-Dollar
• Regulatorische Meldesysteme: 1,8 Millionen US-Dollar
• Externe Prüfungs- und Beratungsgebühren: 2,6 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketing- und Kundenakquisekosten beliefen sich im Jahr 2023 auf 6,4 Millionen US-Dollar.

Kategorie der Marketingausgaben	Betrag ($)
Digitales Marketing	2,700,000
Traditionelle Werbung	1,900,000
Kundengewinnungsprogramme	1,800,000

Bridgewater Bancshares, Inc. (BWB) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Darlehen

Für das Geschäftsjahr 2023 meldete Bridgewater Bancshares einen Gesamtzinsertrag von 192,7 Millionen US-Dollar. Aufschlüsselung der Kreditzinsen:

Kreditkategorie	Zinserträge (Mio. USD)
Gewerbliche Immobilienkredite	114.3
Kommerziell & Industriekredite	45.6
Hypothekendarlehen für Wohnimmobilien	32.8

Servicegebühren und Transaktionsgebühren

Die Einnahmen aus Servicegebühren beliefen sich im Jahr 2023 auf insgesamt 37,5 Millionen US-Dollar, darunter:

• Gebühren für das Einlagenkonto: 18,2 Millionen US-Dollar
• Gebühren für Geldautomatentransaktionen: 6,7 Millionen US-Dollar
• Überziehungsgebühren: 8,3 Millionen US-Dollar
• Gebühren für Überweisungen: 4,3 Millionen US-Dollar

Investment- und Vermögensverwaltungsdienstleistungen

Der Vermögensverwaltungsumsatz für 2023 erreichte 22,6 Millionen US-Dollar, mit den folgenden Segmenten:

Servicekategorie	Umsatz (Mio. USD)
Vermögensverwaltung	12.4
Finanzberatung	7.2
Vertrauensdienste	3.0

Gebühren für digitale Bankdienstleistungen

Die Einnahmen aus dem digitalen Banking beliefen sich im Jahr 2023 auf 15,3 Millionen US-Dollar, darunter:

• Gebühren für Online-Banking-Transaktionen: 7,6 Millionen US-Dollar
• Gebühren für Mobile-Banking-Dienste: 5,4 Millionen US-Dollar
• Digitale Zahlungsabwicklung: 2,3 Millionen US-Dollar

Erträge aus Commercial-Banking-Produkten

Die Einnahmen aus kommerziellen Bankprodukten beliefen sich im Jahr 2023 auf insgesamt 28,9 Millionen US-Dollar:

Produktkategorie	Umsatz (Mio. USD)
Treasury-Management-Dienstleistungen	14.2
Geschäftskreditkarten	6.7
Händlerdienste	8.0

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Bridgewater Bancshares, Inc. over competitors in the Twin Cities market. It's about tailored service backed by solid balance sheet performance as of late 2025.

Highly responsive, personalized service for entrepreneurs and successful individuals

The relationship model is central to Bridgewater Bancshares, Inc.'s pitch, evident in their ability to attract stable funding. Core deposits, which represent the stable, relationship-based funding banks prefer, grew at an annualized rate of 11.5% in the third quarter of 2025. This growth suggests success in securing and maintaining client relationships. Furthermore, the company is aiming to scale its balance sheet to $10 billion in total assets by 2030, a goal that requires consistent, high-touch client acquisition and retention.

• Core Deposits / Total Deposits Ratio (Q3 2025): 76.4%.
• Tangible Book Value per Share (Q3 2025): $14.93, up 20% annualized QoQ.

Expertise in complex commercial real estate and affordable housing financing

Bridgewater Bancshares, Inc. emphasizes its focus on commercial real estate lending, including multifamily financing, which historically carries lower loss rates. Loan origination activity remains strong, with loan pipelines reaching three-year highs as of the third quarter of 2025. Gross loans increased at an annualized rate of 12.5% from the first quarter of 2025 to the second quarter of 2025. The company also noted momentum in its national affordable housing vertical. Credit quality remains a key differentiator, with Nonperforming Assets (NPAs) to Total Assets holding steady at a low 0.19% in Q3 2025, and annualized net charge-offs at just 0.03% of loans.

Comprehensive suite of deposit, lending, and treasury management solutions

The bank offers a full spectrum of services designed to meet business needs, which supports their asset growth. Earning assets grew at a 16% annualized rate, helping Net Interest Income rise by $1.6 million quarter-over-quarter to reach $34.1 million in Q3 2025. The liability side is also managed for margin benefit; $1.4 billion in immediately adjustable deposits were repriced lower following the September rate cut, positioning the Net Interest Margin (NIM) for expansion toward a target of ~3.00% by early 2027.

Here's a quick look at the Q3 2025 performance supporting the scale of their offerings:

Metric	Amount / Rate (Q3 2025)
Total Assets (Approximate)	$5.4 billion
Total Deposits (Approximate)	$4.29 trillion
Net Interest Income	$34.1 million
Annualized Loan Growth	6.6%
Average Total Deposit Cost	3.19%

Local decision-making and deep market knowledge in the Twin Cities

Bridgewater Bancshares, Inc. positions itself as one of the largest locally-led banks in Minnesota, which translates to faster, more localized credit and service decisions for clients in the Minneapolis-St. Paul area. As of March 31, 2025, the company held a 1.6% deposit market share in the Twin Cities MSA, ranking them ninth overall. This local focus is supported by nine strategically located branches across the area.

• Branch Locations (as of June 30, 2025): Nine.
• Twin Cities Deposit Market Share (as of March 31, 2025): 1.6%.

Finance: draft 13-week cash view by Friday.

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Customer Relationships

You're focused on being the finest entrepreneurial bank in the Twin Cities, which means your customer relationships are everything; it's a relationship game, not a transactional one. This focus drove core deposits up by an annualized rate of 11.5% in fiscal Q3 2025 compared to the second quarter, showing clients are sticking with you for their primary banking needs. Also, loan origination activity, while dipping slightly due to delayed closings, still resulted in gross loans growing at a 6.6% annualized rate in Q3 2025, with pipelines hitting three-year highs, which suggests strong future relationship-based lending opportunities.

The high-touch service model is designed to support this growth, especially for your core commercial and high-net-worth segments. You've made specific plays in verticals like affordable housing, which saw loan growth of 13% year-over-year in Q1 2025, with that vertical comprising nearly $600 million of the portfolio by then. This consultative approach is what keeps the relationship sticky, even as you manage a portfolio where commercial real estate loans represented 68.5% of the gross loan portfolio as of the end of 2024.

Here's a quick look at how key relationship-driven metrics shaped up through the third quarter of 2025:

Metric	Value/Rate (as of Q3 2025)	Context
Total Assets	$5.4 billion	As of September 30, 2025.
Core Deposit Growth (Annualized)	11.5%	Compared to Q2 2025.
Non-Interest-Bearing Deposit Growth (Approx.)	$35 million increase	In fiscal Q3 2025.
Loan Growth (Annualized)	6.6%	In fiscal Q3 2025.
Net Interest Margin (NIM)	2.63%	For Q3 2025.

To balance the high-touch service, you've pushed digital capabilities. You successfully launched a new retail and small business online banking platform in the third quarter of 2025, which is key for efficiency and meeting modern client expectations. This digital enhancement helps support the growth in core deposits, which, as of Q1 2025, showed non-interest-bearing balances growing at a strong 17.6% annualized rate. It's about giving clients the tools they need for everyday banking so your relationship managers can focus on complex lending and advisory work.

The competitive landscape definitely feeds into your strategy for proactive engagement. You operate in the Twin Cities MSA where you hold a 1.6% deposit market share, ranking ninth overall, behind larger national banks. The market has seen disruption from acquisitions of local institutions by larger regional banks, and you've explicitly used this disruption as an opportunity to add both talent and clients to your fold. This proactive talent acquisition and client targeting is a direct action taken to capture market share from competitor M&A activity.

Finance: draft 13-week cash view by Friday.

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Channels

You're looking at how Bridgewater Bancshares, Inc. reaches its entrepreneurial client base across the Twin Cities. The physical footprint remains a core component of their channel strategy. As of September 30, 2025, Bridgewater Bank maintained a network of exactly nine full-service branches strategically positioned throughout the metro area. This physical presence supports their total asset base, which stood at $5.4 billion at that same date.

For commercial and entrepreneurial clients, the direct sales force is key. These relationship managers are the primary interface for lending and treasury management solutions, driving the growth seen in the loan portfolio. Gross loans increased by 6.6% annualized from the second quarter of 2025 to the third quarter of 2025, showing the direct sales channel is defintely active. The bank's focus is clearly on this high-touch, advisory sales channel to support its goal of reaching $10 billion in balance sheet size by 2030.

Digital access is being actively enhanced to complement the physical network. Management highlighted the launch of a new retail/SMB online banking platform during the third quarter of 2025, which supports the ongoing push for stable funding. Core deposits, which represent this stable funding source, grew by 11.5% year-over-year as of the third quarter of 2025.

For capital market access and funding diversification, the Investor Relations (IR) function serves as the channel to the investment community. This function communicates financial performance, such as the $11.6 million in net income reported for the third quarter of 2025. You can reach the Investor Relations team directly via phone at 952-542-5169 for specific inquiries.

Here is a quick look at the hard numbers supporting the primary distribution channels as of late 2025:

Channel Component	Metric	Latest Reported Value (as of Q3 2025)	Context/Goal
Physical Branch Network	Number of Full-Service Branches	9	Twin Cities Metro Area Footprint
Balance Sheet Size	Total Assets	$5.4 billion	As of September 30, 2025
Digital Channel Enhancement	New Platform Launch	Retail/SMB Online Banking	Launched in Q3 2025
Deposit Channel Health	Core Deposit Annual Growth Rate	11.5%	Year-over-year growth rate
Lending Channel Activity	Annualized Loan Growth Rate	6.6%	From Q2 2025 to Q3 2025
Capital Market Channel	IR Contact Phone	952-542-5169	VP Investor Relations contact

The key access points for Bridgewater Bancshares, Inc. clients include:

• Maintaining nine physical locations for in-person service.
• Utilizing a dedicated direct sales force for commercial relationships.
• Deploying the newly launched retail and SMB digital banking platform.
• Engaging capital markets through the Investor Relations function.

Finance: draft the 13-week cash flow view incorporating the Q3 $12.0 million adjusted net income figure by Friday.

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Customer Segments

You're looking at the core client base for Bridgewater Bancshares, Inc. as of late 2025. The bank positions itself as the finest entrepreneurial bank, focusing heavily on commercial relationships built around real estate and business services in the Twin Cities Metropolitan Statistical Area (MSA) and beyond for specialized lending.

Commercial Real Estate Investors (CRE) and developers form a substantial part of the lending activity. As of March 31, 2025, Investor CRE loans totaled $2.76 billion, making up 68.6% of the total gross loan portfolio. The bank's lending solutions span from pre-development loans to permanent financing for developing, revitalizing, or acquiring commercial properties.

Entrepreneurs and small-to-medium-sized business (SMB) owners are targeted through the bank's primary commercial lending focus. This includes loans secured by nonresidential properties. The overall loan portfolio growth was strong, increasing by 16% on an annualized basis in the first quarter of 2025, showing high demand from this core base.

Successful individuals and high-net-worth clients are served through specialized services, including an investment advisory function added via the December 2024 acquisition of First Minnetonka City Bank (FMCB). For the second quarter of 2025, this function contributed to record noninterest income, with investment advisory fees reaching $3.6 million for the quarter.

Affordable housing developers represent a key growth vertical where Bridgewater Bancshares, Inc. demonstrates leadership. As of the first quarter of 2025, this specific loan vertical had grown by 13% year-over-year, now comprising nearly $600 million of the total loan portfolio. The commitment is also seen through community support; in 2025, Bridgewater Bank partnered to deliver $800,000 in grants to 23 nonprofits focused on affordable housing and community development.

Here's a quick look at the portfolio composition as of the first quarter of 2025, showing where the focus lies:

Loan Category	Balance (in thousands)	Percent of Total Gross Loans
Total Real Estate Mortgage Loans	$ 3,265,445	81.1%
Investor CRE Loans (Subset of Real Estate)	$ 2,760,000 (Approximate)	68.6%
Affordable Housing Loans (Vertical Size, Q1 2025)	$ 600,000 (Approximate)	N/A
Total Loans, Gross (March 31, 2025)	$ 4,020,076	100.0%

The bank's relationship-focused approach tailors lending and deposit products to these segments. You can see the depth of their focus in these areas:

• The bank follows affordable housing clients nationwide.
• Total assets stood at $5.4 billion as of September 30, 2025.
• Core deposits grew by 7.4% annualized year-to-date Q3 2025.
• The company is one of the largest locally-led banks in Minnesota, with a deposit market share of 1.84% in 2025.

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Cost Structure

You're looking at the core costs that drive Bridgewater Bancshares, Inc.'s operations as of late 2025. For a bank, the cost of funds is usually the biggest lever, and you see that reflected here with the cost of total deposits settling at 3.19% in Q3 2025. This figure was slightly up from 3.16% in Q2 2025, mainly because time and brokered deposits repriced in the prevailing rate environment, but it was still down significantly from 3.58% in Q3 2024. That year-over-year drop shows the benefit of prior rate cuts and a shift away from higher-cost funding sources.

Personnel expenses saw upward pressure this period. The company added 17 full-time equivalent employees during Q3 2025, bringing the total headcount to 325 employees as of September 30, 2025. This growth, along with general salary and benefit increases, contributed to the overall expense profile. You should note that the Q1 2025 FTE count was 292, so the hiring pace accelerated through the year.

Noninterest expenses were definitely elevated in 2025, largely because of the successful systems conversion for the First Minnetonka City Bank (FMCB) acquisition. Management noted that Q3 2025 included the last quarter of some redundant expenses related to this integration. For instance, merger-related expenses were $530,000 in Q3 2025, down from $565,000 in Q1 2025. The reported total noninterest expense for Q3 2025 was $20.0 million, up from $18.9 million in Q2 2025, which also included intensified marketing costs.

Occupancy and equipment costs reflect the physical footprint. As of March 31, 2025, Bridgewater Bancshares, Inc. operated nine strategically located branches. Looking at the specific line item for these costs, the quarterly spend was $1,274,000 in Q2 2025, up from $1,234,000 in Q1 2025. Management is planning a branch closure in December 2025 for one of the branches acquired from FMCB, which should offer some cost relief going into 2026.

Here's a quick look at how some of these key cost components stacked up in recent quarters:

Expense Category (in thousands, unless noted)	Q3 2025	Q2 2025	Q1 2025
Total Noninterest Expense	$20,000	$18,900	$18,100
Occupancy and Equipment	Data Unavailable	$1,274	$1,234
Merger-Related Expenses	$530	$540	$565
FTE Headcount	325	308	292

The cost structure is clearly evolving as the integration costs from the 2024 acquisition begin to subside. You can see the impact of personnel growth and the systems conversion in the sequential noninterest expense increases.

• Cost of Total Deposits: 3.19% in Q3 2025.
• Total FTEs at September 30, 2025: 325.
• Total Deposits at September 30, 2025: $4.29 billion.
• Branch Network Size (as of March 31, 2025): nine branches.
• Q3 2025 Interest Expense on Deposits was a component of the Net Interest Income of $34.1 million.

Finance: draft 13-week cash view by Friday.

Bridgewater Bancshares, Inc. (BWB) - Canvas Business Model: Revenue Streams

You're looking at the core ways Bridgewater Bancshares, Inc. (BWB) brings in money as of late 2025. For a bank, this is all about the spread between what they earn on assets and what they pay on liabilities, plus fees for services.

The primary engine is the Net Interest Income (NII) generated from their loan and securities portfolios. For the third quarter of 2025, this key metric hit $34.1 million. This number shows the strength of their core banking operations, which also saw total gross loans reach $4.21 billion at September 30, 2025.

The yield on those loans is critical to that NII figure. In Q3 2025, the aggregate loan yield stood at 5.79%. That yield reflects the pricing power and the mix of assets on their books. Also, for context on the quarter, the net interest margin (on a fully tax-equivalent basis) was 2.63%.

Beyond the interest spread, noninterest income provides a valuable diversification of revenue. This stream includes specific fee-based services that keep the business less sensitive to pure interest rate movements. Here's a look at some key Q3 2025 figures:

Revenue Component	Q3 2025 Amount	Context/Driver
Net Interest Income (NII)	$34.1 million	From loans and securities portfolio growth
Noninterest Income (Total)	$2.1 million	Driven by fees
Aggregate Loan Yield	5.79%	Yield on interest earning assets
Net Income	$11.6 million	Overall profitability for the quarter

The noninterest income is built from several sources. You should watch these specific fee lines as they often signal the success of wealth management and transactional services.

• Swap fee income.
• Investment advisory fees.
• Customer service fees, which contributed to the $2.1 million total noninterest income in Q3 2025.

Looking ahead, the full-year 2025 revenue is projected to land around $143.03 million. This projection sets the target for the remaining quarters of the year, building on the strong performance seen in Q3 2025, where revenue was reported near $34.61 million to $36.2 million for the quarter.

The revenue generation model relies on a few core activities that you need to track closely:

• Growing the loan portfolio, which saw 6.6% annualized growth in Q3 2025.
• Repricing earning assets to capture higher yields.
• Successfully integrating fee income streams from advisory services.

Finance: draft 13-week cash view by Friday.