Bridgewater Bancshares, Inc._2023 Annual Report

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

Accumulated

Additional Paid-In

Other

Preferred

Common Stock

Retained Comprehensive Earnings Income (Loss)

Year Ended

Stock

Shares

Amount

Capital

Total

BALANCE December 31, 2020 ............. Stock-based Compensation . . . . . . . . . . . . . . . . . ComprehensiveIncome.................... Preferred Stock Offering, Net of Issuance Costs . . StockOptionsExercised................... StockRepurchases ....................... Vested Restricted Stock Units . . . . . . . . . . . . . . . Restricted Shares Withheld for Taxes . . . . . . . . . Preferred Stock Dividend . . . . . . . . . . . . . . . . . . BALANCE December 31, 2021 ............. Stock-based Compensation . . . . . . . . . . . . . . . . . Comprehensive Income (Loss) . . . . . . . . . . . . . . StockOptionsExercised................... StockRepurchases ....................... Forfeiture of Restricted Stock Awards . . . . . . . . . Vested Restricted Stock Units . . . . . . . . . . . . . . . Restricted Shares Withheld for Taxes . . . . . . . . . Preferred Stock Dividend . . . . . . . . . . . . . . . . . . BALANCE December 31, 2022 ............. Cumulative Effect of the Adoption of ASU 2016-13 . Cumulative Effect of the Adoption of ASU 2023-02 . Balance as of January 1, 2023, as Adjusted for Change in Accounting Principles . . . . . . . . . . . . . Stock-based Compensation . . . . . . . . . . . . . . . . . Comprehensive Income (Loss) . . . . . . . . . . . . . . StockOptionsExercised................... StockRepurchases ....................... Forfeiture of Restricted Stock Awards . . . . . . . . . Vested Restricted Stock Units . . . . . . . . . . . . . . . Restricted Shares Withheld for Taxes . . . . . . . . . Preferred Stock Dividend . . . . . . . . . . . . . . . . . . BALANCE December 31, 2023 .............

$ — 28,143,493 $ 281 $ 103,714 $154,831 $

6,579 $265,405

— — — — — — — — — — — — — — — — — — — — — — — — —

18,920

— — —

2,426

—

—

2,426 48,114 66,514

— —

— —

45,687

2,427

— — — — —

— — — — — — — — — — — — — — —

66,514

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

2

722

724

(2)

(2,299)

(2,301)

1

(1)

—

— — — — 282

(439)

(439) (1,171)

—

—

(1,171)

66,514 28,206,566

104,123

199,347

9,006

379,272 3,340 26,444

19,024

3,340

—

—

—

53,392

(26,948)

133,301 (662,765) (1,000) 96,786 (39,962)

1

576

— — — — —

577

(6)

(10,772)

(10,778)

—

(2) (1)

(2)

1

—

— — — — 278

(735)

(735) (4,054)

—

—

(4,054)

66,514 27,751,950

96,529

248,685

(17,942)

394,064

— —

— —

(3,920)

(3,920)

(21)

(21)

66,514 27,751,950

278

96,529 3,954

244,744

(17,942)

390,123 3,954 39,656

44,753

— —

—

—

—

—

39,960

(304)

305,950 (423,749) 121,603 (51,292) (250)

3

960

— — — — —

— — — — — —

963

(4)

(4,537)

(4,541)

—

—

— —

1

(1)

(1)

(585)

(586) (4,054)

—

—

—

(4,054)

$ 66,514 27,748,965 $ 277 $ 96,320 $280,650 $

(18,246) $425,515

See accompanying notes to consolidated financial statements.

87