Bridgewater Bancshares, Inc. (BWB): Business Model Canvas [Jan-2025 Mis à jour]

Bridgewater Bancshares, Inc. (BWB) est une puissance bancaire régionale dynamique, se positionnant stratégiquement dans le paysage financier concurrentiel grâce à un modèle commercial méticuleusement conçu qui mélange la banque traditionnelle basée sur les relations avec l'innovation numérique de pointe. En se concentrant sur les petites et moyennes entreprises et les entreprises commerciales locales, BWB a développé une proposition de valeur unique qui exploite le service personnalisé, la technologie de pointe et la compréhension approfondie du marché local pour fournir des solutions bancaires complètes qui vont au-delà des offres financières conventionnelles.

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: partenariats clés

Associations commerciales locales et chambres de commerce

Au quatrième trimestre 2023, Bridgewater Bancshares maintient des partenariats avec:

Organisation	Emplacement	Détails du partenariat
Chambre de commerce du Minnesota	Minneapolis, MN	Adhésion active depuis 2015
Association des banquiers du Minnesota	St. Paul, MN	Partenaire de réseautage stratégique

Promoteurs immobiliers commerciaux

Les principales partenariats commerciaux de développement immobilier comprennent:

• Ryan Companies US, Inc.
• Construction de Mortenson
• Compagnies de Kraus-Anderson

Fournisseurs de services financiers régionaux

Bridgewater Bancshares collabore avec:

Fournisseur	Type de service	Durée du partenariat
Jack Henry & Associés	Technologie bancaire de base	8 ans
Fiserv, Inc.	Traitement des paiements	5 ans

Réseaux commerciaux de petite à moyenne

Partenariats de réseau à partir de 2024:

• Minneapolis-st. Réseau de petites entreprises de Paul Business Journal
• Centre de développement des petites entreprises du Minnesota

TECHNOLOGIE ET ​​DIGILE BANKING PLATEFORM

Partenariats technologiques numériques:

Fournisseur	Solution technologique	Année de mise en œuvre
TEMENOS GROUP AG	Plate-forme bancaire numérique	2022
Finastra	Système de gestion des prêts	2021

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et personnels

Au quatrième trimestre 2023, Bridgewater Bancshares a déclaré un actif total de 4,9 milliards de dollars. La banque fournit une gamme complète de services bancaires avec les mesures clés suivantes:

Catégorie de service	Volume total	Valeur de transaction moyenne
Prêts commerciaux	2,3 milliards de dollars	1,4 million de dollars par prêt
Banque personnelle	1,6 milliard de dollars	285 000 $ par compte

Origination du prêt et souscription

Répartition du portefeuille de prêts pour 2023:

• Originations totales de prêt: 987 millions de dollars
• Prêts immobiliers commerciaux: 52%
• Prêts hypothécaires résidentiels: 28%
• Prêts de construction et de développement: 15%
• Prêts à la consommation: 5%

Gestion des dépôts et des investissements

Type de dépôt	Solde total	Taux de croissance
Comptes chèques	1,2 milliard de dollars	7.3%
Comptes d'épargne	875 millions de dollars	5.6%
Comptes de marché monétaire	620 millions de dollars	4.2%

Développement de la plate-forme bancaire numérique

Mesures d'engagement des banques numériques pour 2023:

• Utilisateurs de la banque mobile: 78 000
• Transactions bancaires en ligne: 2,4 millions
• Taux d'ouverture du compte numérique: 42%
• Croissance de téléchargement d'application mobile: 18%

Compliance réglementaire et gestion des risques

Métriques de la conformité et de la gestion des risques:

• Personnel de conformité: 65 professionnels
• Budget de conformité annuel: 8,3 millions de dollars
• Investissement technologique de gestion des risques: 2,1 millions de dollars
• Notes d'examen réglementaire: systématiquement «satisfaisant»

Bridgewater Bancshares, Inc. (BWB) - Modèle commercial: Ressources clés

Forte infrastructure bancaire régionale

Au quatrième trimestre 2023, Bridgewater Bancshares exploite 18 sites bancaires à service complet à travers le Minnesota. Les actifs totaux ont déclaré: 4,71 milliards de dollars.

Métrique d'infrastructure	Quantité
Emplacements bancaires totaux	18
Actif total	4,71 milliards de dollars
Dépôts totaux	4,16 milliards de dollars

Équipe de gestion expérimentée

Équipe de direction avec une expérience bancaire moyenne de 22 ans.

• PDG: Jerry Baack - 30 ans d'expérience bancaire
• Directeur financier: James Dahl - 25 ans de services financiers
• Chief Office de l'exploitation: Mary Jaeger - 18 ans d'exploitations bancaires

Technologie des banques numériques avancées

Investissement technologique en 2023: 6,2 millions de dollars.

Service numérique	Capacité
Plateforme de banque mobile	Application mobile complète
Utilisateurs de la banque en ligne	87% de la clientèle
Volume de transaction numérique	2,3 millions de transactions mensuelles

Capital financier robuste

Mesures capitales au 31 décembre 2023:

• Ratio de capital de niveau 1: 12,4%
• Ratio de capital total basé sur les risques: 13,6%
• Ratio d'actions communes tangibles: 9,2%

Des connaissances approfondies du marché local

Concentration du marché au Minnesota:

Segment de marché	Part de marché
Prêts commerciaux	7.3%
Banque des petites entreprises	6.8%
Banque personnelle	5.9%

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les entreprises

Au quatrième trimestre 2023, Bridgewater Bancshares fournit des services bancaires ciblés avec 6,3 milliards de dollars d'actifs totaux et 4,8 milliards de dollars de dépôts totaux.

Services bancaires d'entreprise	Volume annuel
Prêts commerciaux	1,2 milliard de dollars
Comptes de chèques d'entreprise	12 547 comptes actifs
Services de gestion du Trésor	875 millions de dollars gérés

Taux d'intérêt concurrentiels et produits de prêt

Répartition actuelle du portefeuille de prêts:

• Prêts immobiliers commerciaux: 45% du portefeuille total des prêts
• Commercial & Prêts industriels: 28% du portefeuille total des prêts
• Prêts immobiliers résidentiels: 22% du portefeuille total des prêts
• Prêts à la consommation: 5% du portefeuille total des prêts

Prise de décision locale et banque basée sur les relations

Bridgewater fonctionne avec 15 centres bancaires principalement au Minnesota, en se concentrant sur des solutions financières localisées.

Marché géographique	Pénétration du marché
Région métropolitaine du Minnesota	87% de la clientèle
Marché du Wisconsin	8% de la clientèle
Autres marchés régionaux	5% de la clientèle

Expérience bancaire numérique rationalisée

Mesures bancaires numériques à partir de 2023:

• Utilisateurs de la banque mobile: 68 000 utilisateurs actifs
• Transactions bancaires en ligne: 2,4 millions par mois
• Taux d'ouverture du compte numérique: 42% des nouveaux comptes

Service client réactif

Indicateurs de performance du service client:

Métrique de service	Performance
Temps de réponse moyen	Moins de 2 heures
Évaluation de satisfaction du client	4.6/5
Taux de résolution des plaintes	98.7%

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: relations avec les clients

Gestionnaires de relations dédiées

Depuis le quatrième trimestre 2023, Bridgewater Bancshares a alloué 42 gestionnaires de relations dédiés à travers son empreinte du marché du Minnesota. Ces gestionnaires servent des segments de clients spécifiques avec un portefeuille moyen de 87 clients commerciaux et bancaires personnels chacun.

Segment de clientèle	Gestionnaires de relations	Taille moyenne du portefeuille
Banque d'affaires	24	53 clients
Banque personnelle	18	34 clients

Consultations bancaires personnelles et commerciales

En 2023, Bridgewater Bancshares a mené 3 672 consultations bancaires personnalisées, 62% se sont concentrés sur les services bancaires des entreprises.

• Types de consultation:
  • Sessions de stratégie de prêt commercial
  • Revues de gestion de la patrimoine personnelle
  • Réunions de conseil bancaire commercial

Plates-formes de libre-service numériques

L'utilisation de la plate-forme numérique est passée à 78% des interactions totales des clients en 2023. Les fonctionnalités de la plate-forme bancaire en ligne comprennent:

Service numérique	Utilisateurs actifs mensuels	Volume de transaction
Banque mobile	42,156	1,2 million de transactions mensuelles
Payage des factures en ligne	35,789	687 000 transactions mensuelles

Engagement communautaire et événements de réseautage

Bridgewater Bancshares a accueilli 76 événements de réseautage communautaire en 2023, ciblant les segments locaux des affaires et des banques personnelles.

• Catégories d'événements:
  • Ateliers de petites entreprises
  • Séminaires sur les perspectives économiques
  • Séances de réseautage à but non lucratif

Services de conseil financier sur mesure

En 2023, la banque a fourni 1 245 consultations de conseil financier personnalisées avec une durée moyenne de consultation de 2,3 heures.

Service consultatif	Consultations totales	Satisfaction moyenne du client
Planification financière des entreprises	687	4.6 / 5
Gestion de la richesse personnelle	558	4,5 / 5

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2024, Bridgewater Bancshares exploite 32 emplacements de succursales physiques principalement concentrés au Minnesota. La distribution des succursales est la suivante:

Région	Nombre de branches
Minneapolis-st. Région métropolitaine de Paul	24
Grand Minnesota	8

Plateforme bancaire en ligne

Bridgewater Bancshares fournit une plate-forme bancaire en ligne complète avec les fonctionnalités suivantes:

• Accès sécurisé sur le compte Web
• Surveillance des transactions en temps réel
• Services de paiement de factures
• Déclarations électroniques

Application bancaire mobile

L'application mobile de la banque propose:

• Dépôt de chèques mobiles
• Suivi du solde du compte
• Transferts de fonds
• Finder ATM basé sur la localisation

Prise en charge des banques téléphoniques

Le support téléphonique du service client fonctionne avec les spécifications suivantes:

Heures de service	Coordonnées
Du lundi au vendredi: 8h00 - 18h00 CST	(952) 857-7700

Réseau ATM

Bridgewater Bancshares maintient un réseau ATM de 42 machines, avec la distribution suivante:

Type d'emplacement	Nombre de distributeurs automatiques de billets
Implices des succursales bancaires	32
ATMS autonomes	10

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Depuis le quatrième trimestre 2023, Bridgewater Bancshares dessert 3 247 clients commerciaux de petite à moyenne taille du Minnesota. Portfolio total de prêts commerciaux pour ce segment: 412,6 millions de dollars.

Catégorie de taille d'entreprise	Nombre de clients	Montant moyen du prêt
Micro-entreprises (1-9 employés)	1,842	$127,500
Petites entreprises (10-49 employés)	1,405	$287,300

Entreprises commerciales locales

Le segment bancaire commercial génère 18,2 millions de dollars de revenus annuels. Base de clientèle locale de l'entreprise: 2 013 entreprises.

• Distribution de l'industrie:
  • Retail: 34%
  • Fabrication: 22%
  • Services professionnels: 18%
  • Construction: 15%
  • Autre: 11%

Clients bancaires personnels

Clients bancaires personnels totaux: 47 583. Valeur des comptes de dépôt: 1,3 milliard de dollars.

Type de compte	Nombre de clients	Équilibre moyen
Comptes chèques	32,416	$22,750
Comptes d'épargne	15,167	$37,600

Fournisseurs de services professionnels

Segment client de service professionnel: 1 276 clients. Prêt total de services professionnels: 156,4 millions de dollars.

Entrepreneurs et startups régionales

Startup et segment bancaire entrepreneurial: 687 clients actifs. Portefeuille total de prêts en démarrage: 93,2 millions de dollars.

• Répartition du secteur des startups:
  • Technologie: 42%
  • Santé: 23%
  • Services financiers: 17%
  • Autres secteurs: 18%

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

Depuis le rapport annuel de 2023, Bridgewater Bancshares, Inc. a déclaré des frais de rémunération totale de 59,1 millions de dollars.

Catégorie de compensation	Montant ($)
Salaires de base	42,300,000
Bonus de performance	8,600,000
Avantages sociaux	8,200,000

Maintenance de technologie et d'infrastructure

Les coûts d'infrastructure technologique pour 2023 ont totalisé 12,5 millions de dollars.

• Mises à niveau du système bancaire de base: 4,2 millions de dollars
• Investissements en cybersécurité: 3,8 millions de dollars
• Maintenance de la plate-forme bancaire numérique: 2,9 millions de dollars
• Infrastructure de réseau et de matériel: 1,6 million de dollars

Dépenses de fonctionnement de la succursale

Les dépenses totales d'exploitation des succursales pour 2023 étaient de 22,3 millions de dollars.

Catégorie de dépenses de succursale	Montant ($)
Loyer et occupation	9,700,000
Services publics	3,200,000
Entretien et réparations	5,600,000
Équipement de succursale	3,800,000

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 s'élevaient à 7,6 millions de dollars.

• Salaires du personnel juridique et de conformité: 3,2 millions de dollars
• Systèmes de rapports réglementaires: 1,8 million de dollars
• Frais d'audit externe et de conseil: 2,6 millions de dollars

Frais de marketing et d'acquisition des clients

Les coûts de marketing et d'acquisition des clients pour 2023 étaient de 6,4 millions de dollars.

Catégorie de dépenses de marketing	Montant ($)
Marketing numérique	2,700,000
Publicité traditionnelle	1,900,000
Programmes d'acquisition de clients	1,800,000

Bridgewater Bancshares, Inc. (BWB) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Pour l'exercice 2023, Bridgewater Bancshares a déclaré des revenus d'intérêts totaux de 192,7 millions de dollars. Répartition des intérêts du prêt:

Catégorie de prêt	Revenu des intérêts ($ m)
Prêts immobiliers commerciaux	114.3
Commercial & Prêts industriels	45.6
Prêts hypothécaires résidentiels	32.8

Frais de service et frais de transaction

Les revenus des frais de service pour 2023 ont totalisé 37,5 millions de dollars, notamment:

• Frais de compte de dépôt: 18,2 millions de dollars
• Frais de transaction ATM: 6,7 millions de dollars
• Frais de découvert: 8,3 millions de dollars
• Frais de transfert de fil: 4,3 millions de dollars

Services d'investissement et de gestion de la patrimoine

Les revenus de gestion de patrimoine pour 2023 ont atteint 22,6 millions de dollars, avec les segments suivants:

Catégorie de service	Revenus ($ m)
Gestion des actifs	12.4
Avis financier	7.2
Services de confiance	3.0

Frais de service bancaire numérique

Les revenus bancaires numériques pour 2023 étaient de 15,3 millions de dollars, notamment:

• Frais de transaction bancaire en ligne: 7,6 millions de dollars
• Frais de service bancaire mobile: 5,4 millions de dollars
• Traitement des paiements numériques: 2,3 millions de dollars

Revenus de produits bancaires commerciaux

Les revenus des produits bancaires commerciaux pour 2023 ont totalisé 28,9 millions de dollars:

Catégorie de produits	Revenus ($ m)
Services de gestion du Trésor	14.2
Cartes de crédit commerciales	6.7
Services marchands	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.