| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 46.21 | 43.1% |
| Total Income | 46.21 | 43.1% |
| Expenditure | 23.37 | 19.0% |
| PBT | 22.84 | 80.5% |
| Net Profit | 17.41 | 80.8% |
| OPM | 49.43% | 10.24pp |
| NPM | 37.67% | 7.83pp |
| EPS | 0.59 | 90.3% |
Bridgewater Bancshares Reports Q1 2026 Net Income of $17.4 Million
22 Apr 2026 · 22 Apr, 1:49 am
Summary
Bridgewater Bancshares, Inc. announced net income of $17.4 million for the first quarter of 2026, compared to $13.3 million for the fourth quarter of 2025, and $9.6 million for the first quarter of 2025. Earnings per diluted common share were $0.58 for the first quarter of 2026, compared to $0.43 for the fourth quarter of 2025, and $0.31 for the first quarter of 2025. The company enhanced balance sheet efficiency through the sale of securities and prepayment of FHLB advances. The first quarter was highlighted by significant net interest margin expansion, continued loan and core deposit growth, and strong asset quality.
Key Highlights
- 1
Bridgewater Bancshares reported a net income of $17.4 million, or $0.58 per diluted common share, for the first quarter of 2026.
- 2
Net interest income increased by $960,000, representing a 10.9% annualized increase, from the fourth quarter of 2025.
- 3
The net interest margin increased to 2.99%, a 24 basis point increase from the fourth quarter of 2025.
- 4
Gross loans increased by $58.5 million, or 5.5% annualized, from the fourth quarter of 2025.
- 5
Core deposits increased by $26.2 million, or 3.2% annualized, from the fourth quarter of 2025.
- 6
The company sold $208.5 million of securities, resulting in a pre-tax gain of $7.3 million.
- 7
Nonperforming assets to total assets decreased to 0.22% at March 31, 2026, down from 0.41% at December 31, 2025.
Management Comments
Jerry Baack
Bridgewater’s first quarter of 2026 was highlighted by significant net interest margin expansion, continued loan and core deposit growth, and strong asset quality. We took opportunistic actions during the quarter to enhance our balance sheet efficiency, uniquely resulting in a substantial gain on the sale of securities during the quarter while also positioning us for improved forward profitability. As a result of the strong start to 2026, we were able to build our capital position and continue generating consistent tangible book value per share growth.
Jerry Baack
Our teams continue to work hard to build, strengthen, and service relationships with clients, which has been instrumental in our ongoing success in gaining market share. These dedicated efforts continue to support our growth initiatives and drive meaningful value for our clients and shareholders alike.
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