Bridgewater Bancshares, Inc. (BWB): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Bridgewater Bancshares, Inc. (BWB) se erige como una potencia bancaria regional dinámica, posicionándose estratégicamente en el panorama financiero competitivo a través de un modelo de negocio meticulosamente elaborado que combina la banca tradicional basada en relaciones con innovación digital de vanguardia. Al centrarse en las pequeñas y medianas empresas y las empresas comerciales locales, BWB ha desarrollado una propuesta de valor única que aprovecha el servicio personalizado, la tecnología avanzada y la comprensión profunda del mercado local para ofrecer soluciones bancarias integrales que van más allá de las ofertas financieras convencionales.

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocios: asociaciones clave

Asociaciones comerciales locales y cámaras de comercio

A partir del cuarto trimestre de 2023, Bridgewater Bancshares mantiene asociaciones con:

Organización	Ubicación	Detalles de la asociación
Cámara de Comercio de Minnesota	Minneapolis, MN	Membresía activa desde 2015
Asociación de Banqueros de Minnesota	San Pablo, MN	Socio de redes estratégicas

Desarrolladores de bienes raíces comerciales

Las asociaciones clave de desarrollo inmobiliario comercial incluyen:

• Ryan Companies US, Inc.
• Construcción de Mortenson
• Compañías de Kraus-Anderson

Proveedores de servicios financieros regionales

Bridgewater Bancshares colabora con:

Proveedor	Tipo de servicio	Duración de la asociación
Jack Henry & Asociado	Tecnología bancaria central	8 años
Fiserv, Inc.	Procesamiento de pagos	5 años

Redes comerciales pequeñas a medianas

Asociaciones de red a partir de 2024:

• Minneapolis-St. Paul Business Journal Small Business Network
• Centro de desarrollo de pequeñas empresas de Minnesota

Tecnología y proveedores de plataforma de banca digital

Asociaciones de tecnología digital:

Proveedor	Solución tecnológica	Año de implementación
Temenos Group AG	Plataforma de banca digital	2022
Finastra	Sistema de gestión de préstamos	2021

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocio: actividades clave

Servicios bancarios comerciales y personales

A partir del cuarto trimestre de 2023, Bridgewater Bancshares reportó activos totales de $ 4.9 mil millones. El banco proporciona una gama integral de servicios bancarios con las siguientes métricas clave:

Categoría de servicio	Volumen total	Valor de transacción promedio
Préstamo comercial	$ 2.3 mil millones	$ 1.4 millones por préstamo
Banca personal	$ 1.6 mil millones	$ 285,000 por cuenta

Originación de préstamo y suscripción

Desglose de la cartera de préstamos para 2023:

• Originaciones totales del préstamo: $ 987 millones
• Préstamos inmobiliarios comerciales: 52%
• Préstamos hipotecarios residenciales: 28%
• Préstamos de construcción y desarrollo: 15%
• Préstamos al consumidor: 5%

Gestión de depósitos e inversiones

Tipo de depósito	Saldo total	Índice de crecimiento
Cuentas corrientes	$ 1.2 mil millones	7.3%
Cuentas de ahorro	$ 875 millones	5.6%
Cuentas del mercado monetario	$ 620 millones	4.2%

Desarrollo de la plataforma de banca digital

Métricas de participación bancaria digital para 2023:

• Usuarios de banca móvil: 78,000
• Transacciones bancarias en línea: 2.4 millones
• Tasa de apertura de cuenta digital: 42%
• Crecimiento de descarga de aplicaciones móviles: 18%

Cumplimiento regulatorio y gestión de riesgos

Cumplimiento y métricas de gestión de riesgos:

• Personal de cumplimiento: 65 profesionales
• Presupuesto de cumplimiento anual: $ 8.3 millones
• Inversión en tecnología de gestión de riesgos: $ 2.1 millones
• Calificaciones de examen regulatorio: consistentemente 'satisfactorio'

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocio: recursos clave

Infraestructura bancaria regional fuerte

A partir del cuarto trimestre de 2023, Bridgewater Bancshares opera 18 lugares de banca de servicio completo en Minnesota. Los activos totales informaron: $ 4.71 mil millones.

Infraestructura métrica	Cantidad
Ubicaciones bancarias totales	18
Activos totales	$ 4.71 mil millones
Depósitos totales	$ 4.16 mil millones

Equipo de gestión experimentado

Equipo de liderazgo con experiencia bancaria promedio de 22 años.

• CEO: Jerry Baack - Experiencia bancaria de 30 años
• Director Financiero: James Dahl - 25 años de servicios financieros
• Director de Operaciones: Mary Jaeger - 18 años de operaciones bancarias

Tecnología de banca digital avanzada

Inversión tecnológica en 2023: $ 6.2 millones.

Servicio digital	Capacidad
Plataforma de banca móvil	Aplicación móvil de Full-Feature
Usuarios bancarios en línea	87% de la base de clientes
Volumen de transacción digital	2.3 millones de transacciones mensuales

Capital financiero robusto

Capital Metrics al 31 de diciembre de 2023:

• Relación de capital de nivel 1: 12.4%
• Relación total de capital basado en el riesgo: 13.6%
• Relación de equidad común tangible: 9.2%

Extenso conocimiento del mercado local

Concentración del mercado en Minnesota:

Segmento de mercado	Cuota de mercado
Préstamo comercial	7.3%
Banca de pequeñas empresas	6.8%
Banca personal	5.9%

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para empresas

A partir del cuarto trimestre de 2023, Bridgewater Bancshares ofrece servicios bancarios específicos con $ 6.3 mil millones en activos totales y $ 4.8 mil millones en depósitos totales.

Servicios de banca de negocios	Volumen anual
Préstamo comercial	$ 1.2 mil millones
Cuentas corrientes de negocios	12,547 cuentas activas
Servicios de gestión del tesoro	$ 875 millones administrados

Tasas de interés competitivas y productos de préstamos

Desglose actual de la cartera de préstamos:

• Préstamos inmobiliarios comerciales: 45% de la cartera de préstamos totales
• Comercial & Préstamos industriales: 28% de la cartera de préstamos totales
• Préstamos inmobiliarios residenciales: 22% de la cartera de préstamos totales
• Préstamos al consumidor: 5% de la cartera de préstamos totales

Toma de decisiones locales y banca basada en relaciones

Bridgewater opera con 15 centros bancarios Principalmente en Minnesota, centrándose en soluciones financieras localizadas.

Mercado geográfico	Penetración del mercado
Área metropolitana de Minnesota	87% de la base de clientes
Mercado de Wisconsin	8% de la base de clientes
Otros mercados regionales	5% de la base de clientes

Experiencia bancaria digital optimizada

Métricas de banca digital a partir de 2023:

• Usuarios de banca móvil: 68,000 usuarios activos
• Transacciones bancarias en línea: 2.4 millones mensuales
• Tasa de apertura de la cuenta digital: 42% de las cuentas nuevas

Servicio al cliente receptivo

Indicadores de rendimiento del servicio al cliente:

Métrico de servicio	Actuación
Tiempo de respuesta promedio	Menos de 2 horas
Calificación de satisfacción del cliente	4.6/5
Tasa de resolución de quejas	98.7%

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocios: relaciones con los clientes

Gerentes de relaciones dedicadas

A partir del cuarto trimestre de 2023, Bridgewater Bancshares asignó a 42 gerentes de relaciones dedicadas en su huella del mercado de Minnesota. Estos gerentes atienden segmentos específicos de clientes con una cartera promedio de 87 clientes de banca empresarial y personal cada uno.

Segmento de clientes	Gerentes de relaciones	Tamaño promedio de la cartera
Banca de negocios	24	53 clientes
Banca personal	18	34 clientes

Consultas de banca personal y comercial

En 2023, Bridgewater Bancshares realizó 3.672 consultas bancarias personalizadas, con un 62% centrado en los servicios bancarios comerciales.

• Tipos de consulta:
  • Sesiones de estrategia de préstamos comerciales
  • Revisiones de gestión de patrimonio personal
  • Reuniones de asesoramiento de banca comercial

Plataformas de autoservicio digital

El uso de la plataforma digital aumentó al 78% de las interacciones totales del cliente en 2023. Las características de la plataforma bancaria en línea incluyen:

Servicio digital	Usuarios activos mensuales	Volumen de transacción
Banca móvil	42,156	1,2 millones de transacciones mensuales
Pago de factura en línea	35,789	687,000 transacciones mensuales

Eventos de participación comunitaria y redes

Bridgewater Bancshares organizó 76 eventos de redes comunitarias en 2023, dirigida a los segmentos locales de banca empresarial y personal.

• Categorías de eventos:
  • Talleres de pequeñas empresas
  • Seminarios de perspectivas económicas
  • Sesiones de redes sin fines de lucro

Servicios de asesoramiento financiero a medida

En 2023, el banco proporcionó 1,245 consultas de asesoramiento financiero personalizados con una duración de consulta promedio de 2.3 horas.

Servicio de asesoramiento	Consultas totales	Satisfacción promedio del cliente
Planificación financiera comercial	687	Calificación de 4.6/5
Gestión de patrimonio personal	558	Calificación de 4.5/5

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocios: canales

Red de sucursales físicas

A partir de 2024, Bridgewater Bancshares opera 32 ubicaciones de ramas físicas concentradas principalmente en Minnesota. La distribución de la rama es la siguiente:

Región	Número de ramas
Minneapolis-St. Área metropolitana de Paul	24
Greater Minnesota	8

Plataforma bancaria en línea

Bridgewater Bancshares ofrece una plataforma de banca en línea integral con las siguientes características:

• Acceso seguro a la cuenta basada en la web
• Monitoreo de transacciones en tiempo real
• Servicios de pago de facturas
• Declaraciones electrónicas

Aplicación de banca móvil

La aplicación móvil del banco ofrece:

• Depósito de cheque móvil
• Seguimiento del saldo de la cuenta
• Transferencias de fondos
• Buscador de cajeros automáticos basados ​​en la ubicación

Soporte de banca telefónica

El soporte telefónico de servicio al cliente funciona con las siguientes especificaciones:

Horas de servicio	Datos de contacto
De lunes a viernes: 8:00 a.m. a 6:00 p.m. CST	(952) 857-7700

Red de cajeros automáticos

Bridgewater Bancshares mantiene una red de cajeros automáticos de 42 máquinas, con la siguiente distribución:

Tipo de ubicación	Número de cajeros automáticos
Ubicaciones de sucursales bancarias	32
Cajeros automáticos independientes	10

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, Bridgewater Bancshares atiende a 3.247 clientes comerciales pequeños a medianos en Minnesota. Cartera total de préstamos comerciales para este segmento: $ 412.6 millones.

Categoría de tamaño del negocio	Número de clientes	Monto promedio del préstamo
Micro empresas (1-9 empleados)	1,842	$127,500
Pequeñas empresas (10-49 empleados)	1,405	$287,300

Empresas comerciales locales

El segmento de banca comercial genera $ 18.2 millones en ingresos anuales. Base de clientes de la empresa local: 2.013 negocios.

• Distribución de la industria:
  • Minorista: 34%
  • Fabricación: 22%
  • Servicios profesionales: 18%
  • Construcción: 15%
  • Otro: 11%

Clientes bancarios personales

Total de clientes bancarios personales: 47,583. Valor de cuentas de depósito: $ 1.3 mil millones.

Tipo de cuenta	Conteo de clientes	Saldo promedio
Cuentas corrientes	32,416	$22,750
Cuentas de ahorro	15,167	$37,600

Proveedores de servicios profesionales

Servicio profesional Segmento de clientes: 1.276 clientes. Préstamo total de servicios profesionales: $ 156.4 millones.

Empresarios y startups regionales

Segmento de banca de inicio y emprendedor: 687 clientes activos. Cartera total de préstamos de inicio: $ 93.2 millones.

• Desglose del sector de inicio:
  • Tecnología: 42%
  • Atención médica: 23%
  • Servicios financieros: 17%
  • Otros sectores: 18%

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocio: Estructura de costos

Salarios y beneficios de los empleados

A partir del informe anual de 2023, Bridgewater Bancshares, Inc. reportó gastos de compensación total de $ 59.1 millones.

Categoría de compensación	Monto ($)
Salarios base	42,300,000
Bonos de rendimiento	8,600,000
Beneficios para empleados	8,200,000

Mantenimiento de tecnología e infraestructura

Los costos de infraestructura tecnológica para 2023 totalizaron $ 12.5 millones.

• Actualizaciones del sistema bancario central: $ 4.2 millones
• Inversiones de ciberseguridad: $ 3.8 millones
• Mantenimiento de la plataforma de banca digital: $ 2.9 millones
• Infraestructura de red y hardware: $ 1.6 millones

Gastos de operación de rama

Los gastos de operación total de la sucursal para 2023 fueron de $ 22.3 millones.

Categoría de gastos de rama	Monto ($)
Alquiler y ocupación	9,700,000
Utilidades	3,200,000
Mantenimiento y reparaciones	5,600,000
Equipo de rama	3,800,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 ascendieron a $ 7.6 millones.

• Salarios del personal legal y de cumplimiento: $ 3.2 millones
• Sistemas de informes regulatorios: $ 1.8 millones
• Tarifas de auditoría y consultoría externa: $ 2.6 millones

Gastos de marketing y adquisición de clientes

Los costos de marketing y adquisición de clientes para 2023 fueron de $ 6.4 millones.

Categoría de gastos de marketing	Monto ($)
Marketing digital	2,700,000
Publicidad tradicional	1,900,000
Programas de adquisición de clientes	1,800,000

Bridgewater Bancshares, Inc. (BWB) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos

Para el año fiscal 2023, Bridgewater Bancshares reportó ingresos por intereses totales de $ 192.7 millones. Desglose de intereses de préstamo:

Categoría de préstamo	Ingresos de intereses ($ M)
Préstamos inmobiliarios comerciales	114.3
Comercial & Préstamos industriales	45.6
Préstamos hipotecarios residenciales	32.8

Tarifas de servicio y cargos de transacción

Los ingresos por tarifas de servicio para 2023 totalizaron $ 37.5 millones, que incluyen:

• Tarifas de la cuenta de depósito: $ 18.2 millones
• Tarifas de transacción de cajeros automáticos: $ 6.7 millones
• Cargos por sobregiro: $ 8.3 millones
• Tarifas de transferencia de cables: $ 4.3 millones

Servicios de inversión y gestión de patrimonio

Los ingresos de gestión de patrimonio para 2023 alcanzaron $ 22.6 millones, con los siguientes segmentos:

Categoría de servicio	Ingresos ($ M)
Gestión de activos	12.4
Aviso financiero	7.2
Servicios de confianza	3.0

Tarifas de servicio bancario digital

Los ingresos de banca digital para 2023 fueron de $ 15.3 millones, que incluyen:

• Tarifas de transacción bancaria en línea: $ 7.6 millones
• Cargos de servicio bancario móvil: $ 5.4 millones
• Procesamiento de pagos digitales: $ 2.3 millones

Ingresos de productos bancarios comerciales

Los ingresos por productos de banca comercial para 2023 totalizaron $ 28.9 millones:

Categoría de productos	Ingresos ($ M)
Servicios de gestión del tesoro	14.2
Tarjetas de crédito comerciales	6.7
Servicios comerciales	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.