2021 Annual Report

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

(Mark One) ց ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. OR տ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38412 BRIDGEWATER BANCSHARES, INC. (Exact name of registrant as specified in its charter) Minnesota 26-0113412 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 4450 Excelsior Boulevard, Suite 100 St. Louis Park, Minnesota 55416 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code (952) 893-6868 Securities registered pursuant to Section 12(b) of the Act: Titleௗofௗeachௗclass: ௗ Trading Symbol Nameௗofௗeachௗexchangeௗonௗwhichௗregistered: Common Stock, $0.01 Par Value BWB The Nasdaq Stock Market LLC Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes տ No ց Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes տ No ց Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ց No տ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ց No տ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer տ Accelerated filer ց Non-accelerated filer տ Smaller reporting company ց Emerging growth company ց If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. տ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. տ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes տ No ց The aggregate market value of the Common Stock held by non-affiliates of the Registrant on June 30, 2021, based on the closing price of $16.15 of such shares on that date, was $358,402,108. The number of shares of the Common Stock issued and outstanding as of February 21, 2022 was 28,207,206. DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III is incorporated by reference to portions of the definitive proxy statement to be filed within 120 days after December 31, 2021, pursuant to Regulation 14A under the Securities Exchange Act of 1934 in connection with the annual meeting of stockholders to be held on April 26, 2022. Depositary Shares, each representing a 1/100 th interest in a share of 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share BWBBP The Nasdaq Stock Market LLC Securities registered under Section 12(g) of the Act: None.