BWBHIGH SIGNALFINANCIAL10-K

BWB experienced a dramatic 245% surge in interest expense alongside a 46% decline in cash position, indicating significant pressure from rising funding costs despite strong revenue and earnings growth.

The massive increase in interest expense reflects the challenging rate environment and likely pressure on net interest margins, while the substantial cash decline could signal liquidity management issues or aggressive lending growth. However, the company's ability to grow net income by 40% despite these headwinds demonstrates operational resilience and effective balance sheet management.

Comparing 2026-02-26 vs 2025-03-06View on EDGAR →
FINANCIAL ANALYSIS

BWB delivered strong top-line growth with net interest income up 15% and net income surging 40%, but faced severe pressure from interest expenses that nearly tripled to $117M, reflecting the impact of higher rates on funding costs. The company's cash position dropped significantly by 46% to $123M while operating cash flow declined 40%, suggesting either aggressive deployment of capital or potential liquidity pressures. Despite these cash flow challenges, stockholders' equity grew a healthy 13%, indicating the bank maintained capital strength while navigating a difficult rate environment and increasing credit provisions by 50%.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+244.7%
$34.0M→$117.2M

Interest expense surged 244.7% — significant debt increase or rising rates materially impacting earnings.

Share Buybacks
Cash Flow
-57.8%
$5.2M→$2.2M

Buyback activity reduced 57.8% — capital being redeployed elsewhere or cash conservation underway.

Provision for Credit Losses
P&L
+49.5%
$5.2M→$7.7M

Credit loss provisions surged 49.5% — management flagging significant deterioration in loan quality ahead.

Cash & Equivalents
Balance Sheet
-46.2%
$229.8M→$123.5M

Cash declined 46.2% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Capital Expenditure
Cash Flow
+43.3%
$4.1M→$5.8M

Capital expenditure jumped 43.3% — major investment cycle underway; assess returns on deployment.

Net Income
P&L
+40.4%
$32.8M→$46.1M

Net income grew 40.4% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
-40%
$46.4M→$27.8M

Operating cash flow fell 40% — earnings quality concerns; investigate working capital changes and non-cash items.

Net Interest Income
P&L
+14.6%
$245.9M→$281.8M

Net interest income grew 14.6% — benefiting from rate environment or loan book expansion.

Stockholders Equity
Balance Sheet
+12.9%
$457.9M→$517.1M

Equity base grew 12.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-06
ADDED
The aggregate market value of the Common Stock held by non-affiliates of the Registrant on June 30, 2025, based on the closing price of $15.91 of such shares on that date, was $ 348,524,730 .
or state tax laws, regulations and governmental policies concerning the Company s general business, including changes in interpretation or prioritization of such rules and regulations; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks; and any other risks described in the Risk Factors sections of reports filed by the Company with the Securities and Exchange Commission.
The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
The Bank has nine full-service offices located in Bloomington, Greenwood, Minneapolis (2), Minnetonka, Orono, Lake Elmo, St.
The Company and Bank were established in 2005 as a de novo bank by a group of industry veterans and local business leaders dedicated to providing responsive support and simple solutions to businesses, entrepreneurs, and successful individuals.
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REMOVED
The aggregate market value of the Common Stock held by non-affiliates of the Registrant on June 30, 2024, based on the closing price of $11.61 of such shares on that date, was $ 260,404,649 .
or state tax laws, regulations and governmental policies concerning the Company s general business, including changes in interpretation or prioritization and changes in response to prior bank failures, any other risk factors described in the Risk Factors section of this report and in other reports filed by Bridgewater Bancshares, Inc.
We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
The Bank has nine full-service offices located in Bloomington, Greenwood, Minneapolis (2), Minnetonka (2), Orono, St.
The Company and Bank were established in 2005 as a de novo bank by a group of industry veterans and local business leaders committed to serving the diverse needs of businesses, entrepreneurs, and successful individuals.
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