Bridgewater Bancshares, Inc. (BWB): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Bridgewater Bancshares, Inc. (BWB) é uma potência bancária regional dinâmica, posicionando-se estrategicamente no cenário financeiro competitivo por meio de um modelo de negócios meticulosamente criado que combina o banco tradicional baseado em relacionamento com a inovação digital de ponta. Ao focar em pequenas e médias empresas e empresas comerciais locais, a BWB desenvolveu uma proposta de valor única que aproveita o serviço personalizado, a tecnologia avançada e o profundo entendimento do mercado local para fornecer soluções bancárias abrangentes que vão além das ofertas financeiras convencionais.

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: Parcerias -chave

Associações comerciais locais e câmaras de comércio

A partir do quarto trimestre 2023, Bridgewater Bancshares mantém parcerias com:

Organização	Localização	Detalhes da parceria
Câmara de Comércio de Minnesota	Minneapolis, Mn	Associação ativa desde 2015
Associação de Minnesota Bankers	St. Paul, MN	Parceiro de rede estratégica

Promotores imobiliários comerciais

As principais parcerias de desenvolvimento imobiliário comercial incluem:

• Ryan Companies US, Inc.
• Construção de Mortenson
• Empresas Kraus Anderson

Provedores de serviços financeiros regionais

Bridgewater Bancshares colabora com:

Provedor	Tipo de serviço	Duração da parceria
Jack Henry & Associados	Tecnologia bancária principal	8 anos
Fiserv, Inc.	Processamento de pagamento	5 anos

Redes de negócios pequenas e médias

Parcerias de rede a partir de 2024:

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

Fornecedores de plataforma de tecnologia e bancos digitais

Parcerias de tecnologia digital:

Fornecedor	Solução tecnológica	Ano de implementação
TEMENOS GROUP AG	Plataforma bancária digital	2022
Finsastra	Sistema de Gerenciamento de Empréstimos	2021

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e pessoais

No quarto trimestre 2023, a Bridgewater Bancshares registrou ativos totais de US $ 4,9 bilhões. O banco fornece uma gama abrangente de serviços bancários com as seguintes métricas principais:

Categoria de serviço	Volume total	Valor médio da transação
Empréstimos comerciais	US $ 2,3 bilhões	US $ 1,4 milhão por empréstimo
Bancos pessoais	US $ 1,6 bilhão	US $ 285.000 por conta

Origem e subscrição de empréstimos

Breakdown da carteira de empréstimos para 2023:

• Origenos totais de empréstimos: US $ 987 milhões
• Empréstimos imobiliários comerciais: 52%
• Empréstimos hipotecários residenciais: 28%
• Empréstimos de construção e desenvolvimento: 15%
• Empréstimos ao consumidor: 5%

Gerenciamento de depósito e investimento

Tipo de depósito	Balanço total	Taxa de crescimento
Contas de verificação	US $ 1,2 bilhão	7.3%
Contas de poupança	US $ 875 milhões	5.6%
Contas do mercado monetário	US $ 620 milhões	4.2%

Desenvolvimento da plataforma bancária digital

Métricas de engajamento bancário digital para 2023:

• Usuários bancários móveis: 78.000
• Transações bancárias online: 2,4 milhões
• Taxa de abertura da conta digital: 42%
• Mobile App Download Growth: 18%

Conformidade regulatória e gerenciamento de riscos

Métricas de conformidade e gerenciamento de riscos:

• Equipe de conformidade: 65 profissionais
• Orçamento anual de conformidade: US $ 8,3 milhões
• Investimento em tecnologia de gerenciamento de riscos: US $ 2,1 milhões
• Classificações de exames regulatórios: consistentemente 'satisfatórios'

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: Recursos -chave

Forte infraestrutura bancária regional

A partir do quarto trimestre 2023, a Bridgewater Bancshares opera 18 locais bancários de serviço completo em Minnesota. Total de ativos relatados: US $ 4,71 bilhões.

Métrica de infraestrutura	Quantidade
Total de locais bancários	18
Total de ativos	US $ 4,71 bilhões
Total de depósitos	US $ 4,16 bilhões

Equipe de gerenciamento experiente

Equipe de liderança com experiência bancária média de 22 anos.

• CEO: Jerry Baack - 30 anos de experiência bancária
• Diretor Financeiro: James Dahl - 25 anos de Serviços Financeiros
• Diretor de Operações: Mary Jaeger - 18 anos de operações bancárias

Tecnologia Bancária Digital Avançada

Investimento em tecnologia em 2023: US $ 6,2 milhões.

Serviço digital	Capacidade
Plataforma bancária móvel	App móvel completo
Usuários bancários online	87% da base de clientes
Volume de transação digital	2,3 milhões de transações mensais

Capital financeiro robusto

Métricas de capital em 31 de dezembro de 2023:

• Tier 1 Capital Ratio: 12,4%
• Total de rácio de capital baseado em risco: 13,6%
• Razão de patrimônio comum tangível: 9,2%

Amplo conhecimento do mercado local

Concentração de mercado em Minnesota:

Segmento de mercado	Quota de mercado
Empréstimos comerciais	7.3%
Bancos de pequenas empresas	6.8%
Bancos pessoais	5.9%

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para empresas

No quarto trimestre 2023, a Bridgewater Bancshares fornece serviços bancários direcionados com US $ 6,3 bilhões em ativos totais e US $ 4,8 bilhões em depósitos totais.

Serviços bancários de negócios	Volume anual
Empréstimos comerciais	US $ 1,2 bilhão
Contas de corrente de negócios	12.547 contas ativas
Serviços de Gerenciamento do Tesouro	US $ 875 milhões gerenciados

Taxas de juros competitivas e produtos de empréstimo

Aparação atual da carteira de empréstimos:

• Empréstimos imobiliários comerciais: 45% da carteira total de empréstimos
• Comercial & Empréstimos industriais: 28% da carteira total de empréstimos
• Empréstimos imobiliários residenciais: 22% da carteira total de empréstimos
• Empréstimos ao consumidor: 5% da carteira total de empréstimos

Tomada de decisão local e bancos baseados em relacionamento

Bridgewater opera com 15 centros bancários principalmente em Minnesota, com foco em soluções financeiras localizadas.

Mercado geográfico	Penetração de mercado
Área metropolitana de Minnesota	87% da base de clientes
Mercado de Wisconsin	8% da base de clientes
Outros mercados regionais	5% da base de clientes

Experiência bancária digital simplificada

Métricas bancárias digitais a partir de 2023:

• Usuários bancários móveis: 68.000 usuários ativos
• Transações bancárias online: 2,4 milhões mensais
• Taxa de abertura da conta digital: 42% das novas contas

Atendimento ao cliente responsivo

Indicadores de desempenho do atendimento ao cliente:

Métrica de serviço	Desempenho
Tempo médio de resposta	Menos de 2 horas
Classificação de satisfação do cliente	4.6/5
Taxa de resolução de reclamação	98.7%

Bridgewater Bancshares, Inc. (BWB) - Modelo de Negócios: Relacionamentos do Cliente

Gerentes de relacionamento dedicados

A partir do quarto trimestre 2023, a Bridgewater Bancshares alocou 42 gerentes de relacionamento dedicados em sua pegada de mercado de Minnesota. Esses gerentes atendem a segmentos de clientes específicos com um portfólio médio de 87 clientes de negócios e bancos pessoais cada.

Segmento de clientes	Gerentes de relacionamento	Tamanho médio do portfólio
Banking de negócios	24	53 clientes
Bancos pessoais	18	34 clientes

Consultas bancárias pessoais e comerciais

Em 2023, a Bridgewater Bancshares realizou 3.672 consultas bancárias personalizadas, com 62% focados nos serviços bancários de negócios.

• Tipos de consulta:
  • Sessões de estratégia de empréstimos comerciais
  • Revisões de gerenciamento de patrimônio pessoal
  • Reuniões de consultoria bancária comercial

Plataformas de autoatendimento digital

O uso da plataforma digital aumentou para 78% do total de interações com os clientes em 2023. Os recursos da plataforma bancária on -line incluem:

Serviço digital	Usuários ativos mensais	Volume de transação
Mobile Banking	42,156	1,2 milhão de transações mensais
Pagamento on -line	35,789	687.000 transações mensais

Eventos de engajamento e networking da comunidade

A Bridgewater Bancshares organizou 76 eventos de rede comunitária em 2023, visando segmentos bancários comerciais e pessoais locais.

• Categorias de eventos:
  • Oficinas de pequenas empresas
  • Seminários de perspectivas econômicas
  • Sessões de rede sem fins lucrativos

Serviços de consultoria financeira personalizada

Em 2023, o banco forneceu 1.245 consultas de consultoria financeira personalizadas com uma duração média de consulta de 2,3 horas.

Serviço de consultoria	Total de consultas	Satisfação média do cliente
Planejamento financeiro de negócios	687	4.6/5 Classificação
Gestão de patrimônio pessoal	558	4,5/5 Classificação

Bridgewater Bancshares, Inc. (BWB) - Modelo de Negócios: Canais

Rede de ramificação física

A partir de 2024, a Bridgewater Bancshares opera 32 localizações de filiais físicas concentradas principalmente em Minnesota. A distribuição da filial é a seguinte:

Região	Número de ramificações
Minneapolis-St. Área metropolitana de Paul	24
Grande Minnesota	8

Plataforma bancária online

Bridgewater Bancshares fornece uma plataforma bancária on -line abrangente com os seguintes recursos:

• Acesso seguro na conta baseada na Web
• Monitoramento de transações em tempo real
• Serviços de pagamento da conta
• Declarações eletrônicas

Aplicativo bancário móvel

O aplicativo móvel do banco oferece:

• Depósito de cheque móvel
• Rastreamento do saldo da conta
• Transferências de fundos
• Finder ATM baseado em localização

Suporte bancário por telefone

O suporte telefônico do atendimento ao cliente opera com as seguintes especificações:

Horário de serviço	Detalhes de contato
Segunda a sexta: 8:00 - 18:00 CST	(952) 857-7700

Rede ATM

Bridgewater Bancshares mantém uma rede ATM de 42 máquinas, com a seguinte distribuição:

Tipo de localização	Número de caixas eletrônicos
Locais da agência bancária	32
Caixas eletrônicos independentes	10

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

Pequenas e médias empresas

A partir do quarto trimestre de 2023, a Bridgewater Bancshares atende a 3.247 clientes comerciais pequenos e médios em Minnesota. Portfólio total de empréstimos comerciais para este segmento: US $ 412,6 milhões.

Categoria de tamanho de negócios	Número de clientes	Valor médio do empréstimo
Micro negócios (1-9 funcionários)	1,842	$127,500
Pequenas empresas (10-49 funcionários)	1,405	$287,300

Empresas comerciais locais

O segmento bancário comercial gera US $ 18,2 milhões em receita anual. Base de clientes da empresa local: 2.013 empresas.

• Distribuição da indústria:
  • Varejo: 34%
  • Fabricação: 22%
  • Serviços profissionais: 18%
  • Construção: 15%
  • Outro: 11%

Clientes bancários pessoais

Total de clientes bancários pessoais: 47.583. Valor das contas de depósito: US $ 1,3 bilhão.

Tipo de conta	Contagem de clientes	Balanço médio
Contas de verificação	32,416	$22,750
Contas de poupança	15,167	$37,600

Provedores de serviços profissionais

Segmento de clientes de serviço profissional: 1.276 clientes. Empréstimos de serviços profissionais totais: US $ 156,4 milhões.

Empresários e startups regionais

Startup e segmento bancário empreendedor: 687 clientes ativos. Portfólio total de empréstimos para startups: US $ 93,2 milhões.

• Aparelhamento do setor de startups:
  • Tecnologia: 42%
  • Saúde: 23%
  • Serviços financeiros: 17%
  • Outros setores: 18%

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: estrutura de custos

Salários e benefícios dos funcionários

No relatório anual de 2023, a Bridgewater Bancshares, Inc. registrou despesas totais de remuneração de US $ 59,1 milhões.

Categoria de compensação	Valor ($)
Salários da base	42,300,000
Bônus de desempenho	8,600,000
Benefícios dos funcionários	8,200,000

Manutenção de tecnologia e infraestrutura

Os custos de infraestrutura de tecnologia para 2023 totalizaram US $ 12,5 milhões.

• Atualizações do sistema bancário principal: US $ 4,2 milhões
• Investimentos de segurança cibernética: US $ 3,8 milhões
• Manutenção da plataforma bancária digital: US $ 2,9 milhões
• Infraestrutura de rede e hardware: US $ 1,6 milhão

Despesas de operação de ramificação

As despesas totais de operação da filial para 2023 foram de US $ 22,3 milhões.

Categoria de despesa de ramificação	Valor ($)
Aluguel e ocupação	9,700,000
Utilitários	3,200,000
Manutenção e reparos	5,600,000
Equipamento de ramificação	3,800,000

Custos de conformidade regulatória

As despesas de conformidade regulatória de 2023 totalizaram US $ 7,6 milhões.

• Salários legais e de conformidade: US $ 3,2 milhões
• Sistemas de relatórios regulatórios: US $ 1,8 milhão
• Taxas externas de auditoria e consultoria: US $ 2,6 milhões

Despesas de marketing e aquisição de clientes

Os custos de marketing e aquisição de clientes para 2023 foram de US $ 6,4 milhões.

Categoria de despesa de marketing	Valor ($)
Marketing digital	2,700,000
Publicidade tradicional	1,900,000
Programas de aquisição de clientes	1,800,000

Bridgewater Bancshares, Inc. (BWB) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos

Para o ano fiscal de 2023, a Bridgewater Bancshares registrou receita total de juros de US $ 192,7 milhões. Redução de juros de empréstimo:

Categoria de empréstimo	Receita de juros ($ m)
Empréstimos imobiliários comerciais	114.3
Comercial & Empréstimos industriais	45.6
Empréstimos hipotecários residenciais	32.8

Taxas de serviço e cobranças de transação

A receita da taxa de serviço para 2023 totalizou US $ 37,5 milhões, incluindo:

• Taxas de conta de depósito: US $ 18,2 milhões
• Taxas de transação ATM: US $ 6,7 milhões
• Cobranças de cheque especial: US $ 8,3 milhões
• Taxas de transferência de fio: US $ 4,3 milhões

Serviços de investimento e gerenciamento de patrimônio

A receita de gestão de patrimônio para 2023 atingiu US $ 22,6 milhões, com os seguintes segmentos:

Categoria de serviço	Receita ($ m)
Gestão de ativos	12.4
Aviso financeiro	7.2
Serviços de confiança	3.0

Taxas de serviço bancário digital

A receita bancária digital para 2023 foi de US $ 15,3 milhões, incluindo:

• Taxas de transação bancária online: US $ 7,6 milhões
• Encargos de serviço bancário móvel: US $ 5,4 milhões
• Processamento de pagamento digital: US $ 2,3 milhões

Receitas de produtos bancários comerciais

As receitas de produtos bancários comerciais para 2023 totalizaram US $ 28,9 milhões:

Categoria de produto	Receita ($ m)
Serviços de Gerenciamento do Tesouro	14.2
Cartões de crédito empresariais	6.7
Serviços comerciais	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.