BWBBPHIGH SIGNALFINANCIAL10-K

Interest expenses exploded 245% while operating cash flow declined 40%, signaling severe margin pressure despite strong net income growth.

The massive increase in interest expense indicates BWBBP is facing significant funding cost pressures in the current rate environment, which compressed operating cash flow despite 40% net income growth. The substantial reduction in cash reserves (-46%) combined with declining share buybacks suggests the company is prioritizing liquidity management over shareholder returns.

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

BWBBP experienced a tale of two stories - strong top-line growth with net income rising 40% and net interest income growing 15%, but severe operational stress as interest expenses surged 245% and operating cash flow plummeted 40%. The company burned through nearly half its cash reserves while reducing share buybacks by 58%, indicating management is conserving capital amid rising funding costs. Despite profitability gains, the dramatic deterioration in cash generation and liquidity position signals significant challenges in the current interest rate environment.

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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