Bridgewater Bancshares Inc

BWB

Bridgewater Bancshares Inc

BWB

Insider Sentiment (TTM):

Last Purchase:2026-05-11Last Sale:2026-06-05Shares Purchased (TTM):13,875Shares Sold (TTM):243,142

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:14,294,271Shares Outstanding:27,800,091Institutional Ownership Pct.:51.42%

Earnings Market Reaction:

Filing Date:2026-04-30Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Bridgewater Bancshares Inc (BWB) — SEC Financial Statements & Analysis

Bridgewater Bancshares Inc (BWB) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Cash And Cash Equivalents At Carrying Value	222	124	132	217	166	230	192	134	143	129	124	177
Debt Securities Held To Maturity Excluding Accrued…	-	-	4	4	4	4	-	-	-	-	1	1
Debt Securities Available For Sale Excluding Accru…	567	776	826	744	765	768	665	601	633	604	553	538
Financing Receivable Excluding Accrued Interest Af…	4,302	4,244	4,150	4,082	3,959	3,809	3,629	3,742	3,727	3,667	3,664	3,678
Assets
Assets	5,335	5,407	5,360	5,297	5,137	5,066	4,692	4,687	4,723	4,612	4,557	4,603
Federal Home Loan Bank Stock	18	21	21	21	19	19	19	16	17	17	17	22
Property Plant And Equipment Net	53	52	51	50	49	50	48	48	48	49	49	50
Foreclosed Assets	-	-	-	0	-	-	0	-	-	-	-	0
Interest Receivable	16	19	19	18	18	18	17	17	17	17	15	14
Goodwill	12	12	12	12	12	12	3	3	3	3	3	3
Other Intangible Assets Net	7	7	7	7	8	8	0	0	0	0	0	0
Bank Owned Life Insurance	45	47	46	45	45	45	38	35	35	34	34	34
Other Assets	94	106	91	95	92	103	81	91	100	92	95	87
Liabilities And Stockhold…
Liabilities
Noninterest Bearing Deposit Liabilities	829	923	823	788	792	801	713	705	698	757	754	751
Deposits
Deposits	4,306	4,320	4,293	4,237	4,162	4,087	3,747	3,808	3,807	3,710	3,676	3,578
Interest Bearing Deposit Liabilities	3,477	3,397	3,470	3,449	3,371	3,286	3,034	3,103	3,109	2,953	2,921	2,827
Federal Funds Purchased	-	-	-	-	-	-	-	-	-	-	-	195
Notes Payable	-	-	-	14	14	14	14	14	14	14	14	14
Advances From Federal Home Loan Banks	336	400	405	405	350	360	350	287	317	320	295	262
Subordinated Debt	109	109	109	109	80	80	80	79	79	79	79	79
Interest Payable Current And Noncurrent	4	3	5	4	5	4	3	4	4	5	4	3
Other Liabilities	52	58	51	53	58	65	46	56	68	59	74	63
Liabilities	4,807	4,890	4,863	4,820	4,668	4,608	4,239	4,248	4,289	4,186	4,141	4,194
Preferred Stock Value	67	67	67	67	67	67	67	67	67	67	67	67
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Stockholders Equity
Additional Paid In Capital	100	98	97	95	96	95	95	93	95	96	100	99
Stockholders Equity	528	517	497	476	469	458	452	439	434	426	416	409
Retained Earnings Accumulated Deficit	368	351	339	329	318	309	302	295	287	281	273	264
Accumulated Other Comprehensive Income Loss Net Of…	-6	1	-6	-14	-11	-13	-11	-15	-16	-18	-24	-21
Liabilities And Stockholders Equity	5,335	5,407	5,360	5,297	5,137	5,066	4,692	4,687	4,723	4,612	4,557	4,603
Series A Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0
Financing Receivable Allowance For Credit Loss Exc…	57	56	56	56	54	52	51	52	51	50	51	51
Preferred Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Preferred Stock Shares Authorized	10	10	10	10	10	10	10	10	10	10	10	10
Common Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Common Stock Shares Authorized	75	75	75	75	75	75	75	75	75	75	75	75
Common Stock Shares Issued	28	28	28	27	28	28	27	27	28	28	28	28
Shares Outstanding	28	28	28	27	28	28	27	27	28	28	28	28

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	3.25%	8.88%	-	-	-	-	-	-	-	-	-	-
2025	-2.58%	-0.46%	7.36%	6.04%	11.50%	9.06%	2.35%	10.96%	9.94%	-11.17%	0.47%	-5.66%
2024	1.12%	-6.06%	14.88%	4.40%	8.58%	17.31%	3.15%	-5.27%	-9.04%	0.43%	3.86%	6.06%
2023	10.05%	22.64%	32.93%	-5.84%	-9.37%	-14.10%	5.97%	21.64%	33.57%	-0.34%	0.60%	0.09%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Leverage & Debt
Interest Coverage TTM	-0.52	-0.58	-0.61	-0.60	-0.63	-0.04	0.48	0.92	1.34	1.41	1.56	1.83
Per Share Metrics
Diluted EPS TTM	1.75	1.49	1.27	1.21	1.05	1.03	1.09	1.10	1.18	1.27	1.48	1.65
Free Cash Flow Per Share TTM	1.06	0.80	1.77	1.25	1.51	1.54	0.09	0.89	0.95	0.97	1.44	1.20
Dividend Per Share TTM	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15
Margin Metrics
Gross Profit Margin TTM	48.54%	46.99%	45.51%	44.10%	42.61%	41.56%	31.98%	32.75%	33.97%	36.77%	53.02%	61.26%
Operating Profit Margin TTM	24.54%	21.30%	19.64%	19.01%	17.85%	17.38%	18.02%	18.99%	20.50%	23.62%	27.85%	33.57%
Net Profit Margin TTM	17.41%	14.91%	13.20%	13.01%	11.69%	11.70%	12.63%	12.94%	14.46%	16.15%	19.65%	23.54%
Growth Metrics
Net Revenue Growth (1Y)	13.11%	14.62%	12.75%	11.22%	10.44%	10.59%	13.39%	18.51%	26.54%	35.83%	43.10%	41.82%
Net Income Growth (1Y)	68.49%	46.10%	17.86%	11.80%	-10.72%	-19.87%	-27.12%	-34.87%	-32.04%	-27.22%	-12.88%	1.52%
EPS Growth (1Y)	67.09%	45.76%	17.34%	11.50%	-10.32%	-18.77%	-25.62%	-33.68%	-31.95%	-27.48%	-14.20%	1.34%
Valuation Metrics
P/E TTM	9.88	11.49	13.49	12.86	12.95	12.90	12.74	10.46	9.74	10.49	6.34	5.89
P/B	0.93	0.93	0.97	0.92	0.82	0.81	0.86	0.72	0.74	0.89	0.64	0.67
P/S TTM	1.72	1.71	1.78	1.67	1.51	1.51	1.61	1.35	1.41	1.69	1.25	1.39
Market Cap	492.06M	482.85M	484.09M	436.90M	382.93M	371.25M	388.01M	317.96M	322.33M	376.63M	264.90M	274.68M
Enterprise Value	269.91M	359.34M	352.27M	233.16M	230.48M	155.24M	209.91M	197.62M	192.72M	261.82M	154.30M	111.33M
Calculated Values
Free Cash Flow TTM	29.55M	21.97M	48.69M	34.46M	41.70M	42.30M	2.49M	24.47M	26.43M	27.05M	40.15M	33.47M
Net Debt	-222.15M	-123.51M	-131.82M	-203.75M	-152.46M	-216.01M	-178.11M	-120.34M	-129.61M	-114.81M	-110.61M	-163.35M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-06-05Sale

Owner: Chybowski, Joseph M.

Title: PRESIDENT & CFO

Shares: 7,000

Price/Share: $18.96

Value: $132,720.00

Shares Owned: 118,501

Relationship: Officer

Ownership: Direct

2026-06-05Sale

Owner: Place, Nicholas L.

Title: CHIEF BANKING OFFICER

Shares: 4,688

Price/Share: $19.28

Value: $90,384.64

Shares Owned: 139,622

Relationship: Officer

Ownership: Direct

2026-05-21Sale

Owner: Shellberg, Jeffrey D.

Title: -

Shares: 20,000

Price/Share: $18.55

Value: $371,000.00

Shares Owned: 25,000

Relationship: Director

Ownership: Indirect

2026-05-21Sale

Owner: Crocker, Mary Jayne

Title: -

Shares: 6,525

Price/Share: $18.50

Value: $120,712.50

Shares Owned: 209,502

Relationship: Director

Ownership: Direct

2026-05-11Purchase

Owner: Crocker, Mary Jayne

Title: -

Shares: 205

Price/Share: $20.00

Value: $4,100.00

Shares Owned: 5,700

Relationship: Director

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-05	Chybowski, Joseph M.	Officer	PRESIDENT & CFO	Direct	Sale	7,000	18.96	$132,720.00	118,501	4
2026-06-05	Place, Nicholas L.	Officer	CHIEF BANKING OFFICER	Direct	Sale	4,688	19.28	$90,384.64	139,622	4
2026-05-21	Shellberg, Jeffrey D.	Director	-	Indirect	Sale	20,000	18.55	$371,000.00	25,000	4
2026-05-21	Crocker, Mary Jayne	Director	-	Direct	Sale	6,525	18.50	$120,712.50	209,502	4
2026-05-11	Crocker, Mary Jayne	Director	-	Indirect	Purchase	205	20.00	$4,100.00	5,700	4
2026-05-08	Salazar, Lisa M	Officer	CHIEF OPERATING OFFICER	Direct	Sale	4,162	18.55	$77,205.10	36,077	4
2026-05-07	Shellberg, Jeffrey D.	Director	-	Indirect	Sale	8,174	18.45	$150,810.30	45,000	4
2026-05-01	Shellberg, Jeffrey D.	Director	-	Indirect	Sale	62	18.50	$1,147.00	62,426	4
2026-04-29	Shellberg, Jeffrey D.	Director	-	Indirect	Sale	2,512	18.50	$46,472.00	62,488	4
2026-02-10	Trutna, Thomas P.	Director	-	Direct	Sale	13,000	19.51	$253,630.00	82,634	4
2026-02-06	Shellberg, Jeffrey D.	Director	-	Direct	Sale	9,838	18.89	$185,839.82	266,187	4
2026-02-05	Johnson, James S.	Director	-	Direct	Sale	4,712	19.71	$92,873.52	95,348	4
2025-12-10	Chybowski, Joseph M.	Officer	PRESIDENT & CFO	Direct	Sale	5,211	18.05	$94,058.55	105,349	4
2025-12-09	Shellberg, Jeffrey D.	Director	-	Direct	Sale	21,936	17.78	$390,022.08	277,924	4
2025-12-09	Chybowski, Joseph M.	Officer	PRESIDENT & CFO	Direct	Sale	6,780	17.99	$121,972.20	104,560	4
2025-12-09	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	13,039	17.97	$234,310.83	1,162,264	4
2025-12-09	Place, Nicholas L.	Officer	CHIEF BANKING OFFICER	Direct	Sale	1,408	17.63	$24,823.04	121,231	4
2025-11-21	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	5,920	17.00	$100,640.00	212,003	4
2025-11-13	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	4,080	17.04	$69,523.20	199,025	4
2025-11-13	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	6,993	17.00	$118,881.00	1,164,361	4
2025-11-10	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	8,957	16.75	$150,029.75	203,105	4
2025-11-06	Salazar, Lisa M	Officer	CHIEF OPERATING OFFICER	Direct	Sale	2,175	16.72	$36,366.00	32,091	4
2025-11-05	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	277	17.00	$4,709.00	212,062	4
2025-11-05	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	15,561	16.58	$258,001.38	1,189,361	4
2025-10-28	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	9,439	17.01	$160,557.39	1,204,922	4
2025-10-27	Volk, David J.	Director	-	Direct	Purchase	13,470	17.46	$235,186.20	30,582	4
2025-09-04	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Indirect	Purchase	100	19.48	$1,948.00	5,495	4
2025-08-26	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	9,314	16.05	$149,489.70	192,339	4
2025-08-22	Trutna, Thomas P.	Director	-	Direct	Sale	6,152	16.40	$100,892.80	94,496	4
2025-08-22	Shellberg, Jeffrey D.	Director,Officer	EVP AND CHIEF CREDIT OFFICER	Indirect	Sale	6,040	16.09	$97,183.60	317,390	4
2025-08-15	Shellberg, Jeffrey D.	Director,Officer	EVP AND CHIEF CREDIT OFFICER	Indirect	Sale	1,687	16.00	$26,992.00	323,430	4
2025-08-13	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Indirect	Purchase	100	20.00	$2,000.00	5,395	4
2025-08-12	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	10,000	16.01	$160,100.00	1,214,361	4
2025-08-06	Parish, Douglas J.	Director	-	Indirect	Sale	7,500	15.24	$114,300.00	8,107	4
2025-07-30	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	20,000	16.02	$320,400.00	1,224,361	4
2025-06-04	Salazar, Lisa M	Officer	CHIEF OPERATING OFFICER	Direct	Sale	3,737	14.40	$53,812.80	32,335	4
2025-05-14	Trutna, Thomas P.	Director	-	Direct	Sale	2,200	15.78	$34,716.00	100,031	4
2025-05-09	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Direct	Sale	9,477	15.53	$147,177.81	182,985	4
2025-04-30	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Indirect	Purchase	190	18.75	$3,562.50	5,295	4
2024-12-11	Chybowski, Joseph M.	Officer	PRESIDENT & CFO	Direct	Sale	3,000	15.51	$46,530.00	98,416	4
2024-11-21	Johnson, James S.	Director	-	Direct	Sale	4,705	15.00	$70,575.00	93,646	4
2024-11-18	Johnson, James S.	Director	-	Direct	Sale	684	15.00	$10,260.00	98,351	4
2024-11-14	Parish, Douglas J.	Director	-	Direct	Sale	5,750	15.05	$86,537.50	1,636	4
2024-11-07	Trutna, Thomas P.	Director	-	Direct	Sale	2,000	15.13	$30,260.00	100,780	4
2024-10-29	Juran, David B.	Director	-	Indirect	Sale	14,531	14.76	$214,477.56	5,469	4
2024-10-29	Shellberg, Jeffrey D.	Director,Officer	EVP AND CHIEF CREDIT OFFICER	Indirect	Sale	20,000	14.75	$295,000.00	152,000	4
2024-10-29	Crocker, Mary Jayne	Officer	EVP & CHIEF STRATEGY OFFICER	Indirect	Purchase	330	20.90	$6,897.00	5,105	4
2024-09-04	Baack, Jerry J.	Director,Officer	CEO	Direct	Sale	11,500	14.15	$162,725.00	1,228,514	4
2024-09-04	Trutna, Thomas P.	Director	-	Direct	Sale	5,000	14.11	$70,550.00	102,072	4
2024-05-29	Salazar, Lisa M	Officer	CHIEF DEPOSIT OFFICER	Direct	Sale	2,176	11.24	$24,458.24	32,835	4
2024-03-06	Johnson, James S.	Director	-	Direct	Sale	12,590	11.62	$146,295.80	94,063	4
2024-01-31	Baack, Jerry J.	Director,Officer	PRESIDENT & CEO	Direct	Sale	14,489	13.00	$188,357.00	1,222,862	4
2023-11-02	Crocker, Mary Jayne	Officer	EVP & CHIEF OPERATING OFFICER	Direct	Purchase	2,500	9.89	$24,725.00	186,699	4
2023-09-14	Chybowski, Joseph M.	Officer	CHIEF FINANCIAL OFFICER	Direct	Purchase	1,500	10.17	$15,255.00	97,117	4
2023-08-22	Brezonik, Lisa	Director	-	Direct	Purchase	4,900	10.08	$49,392.00	20,040	4
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Institutional Ownership

No data available for chart

2026-03-31

51.42%

Inst. Shares: 14,294,271

Shares Outstanding: 27,800,091

2025-12-31

51.88%

Inst. Shares: 14,290,217

Shares Outstanding: 27,544,024

2025-09-30

48.83%

Inst. Shares: 13,430,664

Shares Outstanding: 27,504,840

2025-06-30

42.66%

Inst. Shares: 11,714,819

Shares Outstanding: 27,460,982

2025-03-31

41.10%

Inst. Shares: 11,329,838

Shares Outstanding: 27,568,772

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	14,294,271	27,800,091	51.42%
2025-12-31	14,290,217	27,544,024	51.88%
2025-09-30	13,430,664	27,504,840	48.83%
2025-06-30	11,714,819	27,460,982	42.66%
2025-03-31	11,329,838	27,568,772	41.10%
2024-12-31	11,774,832	27,479,764	42.85%
2024-09-30	10,438,187	27,382,798	38.12%
2024-06-30	9,747,752	27,386,713	35.59%
2024-03-31	9,211,584	27,691,401	33.27%
2023-12-31	8,295,118	27,857,420	29.78%
2023-09-30	9,819,636	27,943,409	35.14%
2023-06-30	9,994,090	27,886,425	35.84%
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Bridgewater Bancshares Inc (BWB) — SEC Financial Statements & Analysis

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