hD

Income Statement Summary

Bridgewater Bancshares (BWB) annual income statement covering fiscal 2020 through 2025, as reported to the SEC.

  • Net income was $46.09M in fiscal 2025, up 40.4% from $32.83M.
  • Diluted (in dollars per share) was $1.49, up 44.7% from $1.03.
  • Income before income taxes were $60.03M, up 40.5% from $42.74M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Dec'25Dec'24Dec'23Dec'22Dec'21Dec'20
INTEREST INCOME
Loans, Including Fees

233,190

204,731

191,402

146,256

118,845

105,492

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loans, Including Fees

233,190

204,731

191,402

146,256

118,845

105,492

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment Securities

38,688

33,927

26,245

16,410

9,576

8,720

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment Securities

38,688

33,927

26,245

16,410

9,576

8,720

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

9,970

7,240

4,708

1,029

458

614

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

9,970

7,240

4,708

1,029

458

614

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Income

281,848

245,898

222,355

163,695

128,879

114,826

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Income

281,848

245,898

222,355

163,695

128,879

114,826

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INTEREST EXPENSE
Deposits

131,418

128,805

96,045

23,379

13,842

19,813

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposits

131,418

128,805

96,045

23,379

13,842

19,813

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Federal Funds Purchased

21

1,201

8,521

4,507

6

111

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Federal Funds Purchased

21

1,201

8,521

4,507

6

111

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes Payable

624

1,162

1,143

202

61

439

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes Payable

624

1,162

1,143

202

61

439

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FHLB Advances

11,465

8,554

7,489

1,221

831

3,390

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FHLB Advances

11,465

8,554

7,489

1,221

831

3,390

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Subordinated Debentures

5,882

3,983

3,983

4,688

4,630

3,109

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Subordinated Debentures

5,882

3,983

3,983

4,688

4,630

3,109

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

149,410

143,705

117,181

33,997

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

149,410

143,705

117,181

33,997

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

-

-

-

-

19,370

26,862

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

-

-

-

-

19,370

26,862

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Interest Expense

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INTEREST INCOME

132,438

102,193

105,174

129,698

109,509

87,964

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INTEREST INCOME

132,438

102,193

105,174

129,698

109,509

87,964

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Credit Losses

6,050

3,525

-175

7,700

5,150

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Credit Losses

6,050

3,525

-175

7,700

5,150

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Loan Losses

-

-

-

-

-

12,750

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Loan Losses

-

-

-

-

-

12,750

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES

126,388

98,668

105,349

121,998

104,359

75,214

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES

126,388

98,668

105,349

121,998

104,359

75,214

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NONINTEREST INCOME
Customer Service Fees

2,013

1,475

1,455

1,236

1,007

826

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Customer Service Fees

2,013

1,475

1,455

1,236

1,007

826

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Available for Sale Securities

614

385

-33

82

750

1,503

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Available for Sale Securities

614

385

-33

82

750

1,503

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Foreclosed Assets

-

62

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Foreclosed Assets

-

62

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Letter of Credit Fees

1,829

1,976

1,746

1,592

1,676

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Letter of Credit Fees

1,829

1,976

1,746

1,592

1,676

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debit Card Interchange Fees

640

593

595

586

563

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debit Card Interchange Fees

640

593

595

586

563

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Swap Fees

1,631

547

-

557

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Swap Fees

1,631

547

-

557

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Bank-Owned Life Insurance

1,661

1,327

992

762

316

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Bank-Owned Life Insurance

1,661

1,327

992

762

316

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment Advisory Fees

973

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment Advisory Fees

973

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FHLB Prepayment Income

301

-

792

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FHLB Prepayment Income

301

-

792

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Foreclosed Assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Gain on Sales of Foreclosed Assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Income

1,253

1,003

946

1,517

997

3,510

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Income

1,253

1,003

946

1,517

997

3,510

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Noninterest Income

10,915

7,368

6,493

6,332

5,309

5,839

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Noninterest Income

10,915

7,368

6,493

6,332

5,309

5,839

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NONINTEREST EXPENSE
Salaries and Employee Benefits

47,397

39,564

36,538

36,941

30,889

25,568

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Salaries and Employee Benefits

47,397

39,564

36,538

36,941

30,889

25,568

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and Equipment

4,945

4,399

4,447

4,390

3,916

3,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and Equipment

4,945

4,399

4,447

4,390

3,916

3,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC Insurance Assessment

2,745

2,959

3,690

1,365

1,305

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC Insurance Assessment

2,745

2,959

3,690

1,365

1,305

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data Processing

2,519

1,697

1,574

1,396

1,222

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data Processing

2,519

1,697

1,574

1,396

1,222

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional and Consulting Fees

4,769

3,879

3,081

2,664

2,520

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional and Consulting Fees

4,769

3,879

3,081

2,664

2,520

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Derivative Collateral Fees

1,369

1,821

1,900

687

3

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Derivative Collateral Fees

1,369

1,821

1,900

687

3

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Information Technology and Telecommunications

3,891

3,325

2,889

2,495

2,163

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Information Technology and Telecommunications

3,891

3,325

2,889

2,495

2,163

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing and Advertising

2,138

1,485

1,129

2,032

1,487

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing and Advertising

2,138

1,485

1,129

2,032

1,487

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Intangible Asset Amortization

921

78

100

191

191

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Intangible Asset Amortization

921

78

100

191

191

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Tax Credit Investments

-

-

-

408

562

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Tax Credit Investments

-

-

-

408

562

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debt Prepayment Fees

-

-

-

-

582

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Debt Prepayment Fees

-

-

-

-

582

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Expense

6,577

4,093

3,972

4,051

3,255

16,561

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Expense

6,577

4,093

3,972

4,051

3,255

16,561

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Noninterest Expense

77,271

63,300

59,320

56,620

48,095

45,387

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Noninterest Expense

77,271

63,300

59,320

56,620

48,095

45,387

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INCOME BEFORE INCOME TAXES

60,032

42,736

52,522

71,710

61,573

35,666

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INCOME BEFORE INCOME TAXES

60,032

42,736

52,522

71,710

61,573

35,666

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INCOME BEFORE INCOME TAXES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INCOME BEFORE INCOME TAXES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Income Taxes

13,944

9,911

12,562

18,318

15,886

8,472

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Income Taxes

13,944

9,911

12,562

18,318

15,886

8,472

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INCOME

46,088

32,825

39,960

53,392

45,687

27,194

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INCOME

46,088

32,825

39,960

53,392

45,687

27,194

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Dividends

4,054

4,054

4,054

4,054

1,171

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Dividends

4,054

4,054

4,054

4,054

1,171

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

42,034

28,771

35,906

49,338

44,516

27,194

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

42,034

28,771

35,906

49,338

44,516

27,194

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

EARNINGS PER SHARE
Basic (in dollars per share)

1.53

1.05

1.29

1.78

1.59

0.95

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic (in dollars per share)

1.53

1.05

1.29

1.78

1.59

0.95

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted (in dollars per share)

1.49

1.03

1.27

1.72

1.54

0.93

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted (in dollars per share)

1.49

1.03

1.27

1.72

1.54

0.93

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx