Bridgewater Bancshares, Inc._2023 Annual Report

FINANCIAL SUMMARY Dollars in Thousands

2023

2022

2021

Operating Results

105,174 6,493 111,667 (175) 59,320 52,522 12,562 39,960 (4,054) 35,906

Net interest income Noninterest income Total revenue Provision for (recovery of) credit losses Noninterest expense Income before income taxes

$

$

109,509 5,309 114,818 5,150 48,095 61,573 15,886 45,687 (1,171) 44,516

129,698 6,332 136,030 7,700 56,620

$

71,710 18,318

Income tax expense Net income attributable to Bridgewater Bancshares, Inc.

53,392 (4,054) 49,338

Net income available to common shareholders Preferred stock dividends

$

$

$

Year-End Balance Sheet Highlights

4,611,990 3,724,282 604,104 3,709,948 425,515

Total assets Gross loans Securities available for sale Deposits Shareholders’ equity

$

$

$

4,345,662 3,569,446 548,613 3,416,543 394,064

3,477,659 2,819,472 439,362 2,946,237 379,272

Per Common Share Information

1.27 12.94 12.84

Diluted earnings per share Book value per share Tangible book value per share

$

$

$

1.72 11.80 11.69

1.54

11.09 10.98

1

Financial Ratios

0.89 1.15 10.53 53.0 0.01 0.02 9.16

%

Return on average assets Pre-provision net revenue (PPNR) return on average assets Return on average tangible common equity Efficiency ratio Net charge-offs (recoveries) as a percentage of average loans Nonperforming assets as a percentage of total assets Common Equity Tier 1 risk-based capital ratio 1 1 1

1.43 2.10 15.45 42.0 0.00 0.02 9.36

%

1.38 2.06 15.69 41.5 (0.01) 0.01 8.40

%

1

Represents a non-GAAP financial measure. See “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures” in the accompanying 2023 Form 10-K for further details.

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