2021 Annual Report

Bridgewater Bancshares, Inc. and Subsidiaries Consolidated Statements of Shareholders’ Equity (amounts in thousands, except share data)

Accumulated

Additional

Other

Preferred

Common Stock

Paid-In Retained Comprehensive

Stock

Shares Amount Capital Earnings Income (Loss)

Total

BALANCE, December 31, 2018 . . . . . . $ — 30,097,274 $ 301 $ 126,031 $ 96,234 $

(1,568) $ 220,998

— — —

— — — —

752

—

—

752

Stock-based Compensation . . . . . . . . . . Comprehensive Income . . . . . . . . . . . . Stock Options Exercised . . . . . . . . . . . . Stock Repurchases . . . . . . . . . . . . . . . . Issuance of Restricted Stock Awards . . BALANCE, December 31, 2019 . . . . . . Stock-based Compensation . . . . . . . . . . Comprehensive Income . . . . . . . . . . . . Stock Options Exercised . . . . . . . . . . . . Stock Repurchases . . . . . . . . . . . . . . . . Issuance of Restricted Stock Awards . . Forfeiture of Restricted Stock Awards . Restricted Shares Withheld for Taxes. . BALANCE, December 31, 2020 . . . . . . Stock-based Compensation . . . . . . . . . . Comprehensive Income . . . . . . . . . . . . Preferred Stock Offering, Net of Issuance Costs . . . . . . . . . . . . . . . . . . Stock Options Exercised . . . . . . . . . . . . Stock Repurchases . . . . . . . . . . . . . . . . Vested Restricted Stock Units. . . . . . . . Restricted Shares Withheld for Taxes. . Preferred Stock Dividend . . . . . . . . . . .

— 31,403

6,342 37,745

74,850

1

257

— — —

—

258

— (1,331,512) (13) (14,946)

— (14,959)

—

132,960

1

(1)

—

—

— — — — — — — — — — — — — — — —

28,973,572 290

112,093

127,637

4,774

244,794

29,050 — 1,668

—

— 1,668 1,805 28,999

— —

— 27,194

74,400

1

316

— — — — —

—

317

(940,781) (10) (10,324)

— (10,334)

18,641 (8,200) (3,189)

— — —

— —

— — —

— —

(39)

(39)

28,143,493 281

103,714

154,831

6,579

265,405

18,920 — 2,426

—

— 2,426 2,427 48,114

— —

— 45,687

66,514

—

—

—

— — — — —

— 66,514

164,405 (146,445) 51,146 (24,953)

2

722

—

724

(2) (2,299)

— (2,301)

1

(1)

— —

—

— —

(439)

(439)

—

— (1,171)

— (1,171)

BALANCE, December 31, 2021 . . . . . . $ 66,514

28,206,566 $ 282 $ 104,123 $ 199,347 $

9,006 $ 379,272

See accompanying notes to consolidated financial statements.

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