Annual Review 2019
financial highlights
earnings up 17%
Net income In Millions
Tangible book Value per share
diluted Earnings per share
Total deposits In Billions
Total assets In Billions
Total Loans In Billions
$2.3
$2.0
$1.9
$1.8
$1.7
$1.6
$1.6
$1.3
$1.3
$1.05
$8.33
$31.4
$7.22
$26.9
$0.91
$5.40 >> yoy growth 15.3%
$16.9 >> yoy growth 16.7%
$0.68
>> CAGR 21.6%
>> CAGR 21.2%
>> CAGR 24.1%
>> YOY GROWTH 14.5%
2017 2018 2019
2017 2018 2019
2017 2018 2019
2017 2018 2019
2017 2018 2019
2017 2018 2019
CAGR = Compound Annual Growth Rate
financial performance and growth 2019 was another defining year in Bridgewater’s continued story of growth, profitability and efficiency. For the year-ended December 31, 2019, Bridgewater earned a record net income of $31.4 million, up 16.7% over 2018. Total consolidated assets reached $2.27 billion as of December 31, 2019, which was $295.1 million in growth over 2018’s year-end. This 15.0% growth in assets was driven by our largest earning asset, our loan portfolio, which reached $1.91 billion with $247.1 million in growth or 14.8% year-over-year. While real estate lending continues to be our niche and the primary source of loan growth in 2019, diversification within different types of real estate, as well as a broadening exposure in other asset classes such as commercial and industrial, was experienced.
Bridgewater continues to experience a reduction in the level of non-performing assets, indicating strong credit quality in the loan portfolio. At December 31, 2019, total non-performing assets represented 0.02% of total assets. On the liability side of the balance sheet, deposits were $1.82 billion, increasing $262.4 million, or 16.8%, as of December 31, 2019, compared to December 31, 2018. This strong growth is a testament to our strategic branch network and responsive support.
With such earnings, momentum and solid capital levels, we are well positioned to continue the Bridgewater story in 2020.
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