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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