Bridgewater Bank Annual Report

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

Accumulated

Additional

Other

Shares Common Stock Paid--In Retained Comprehensive Voting Non-voting Voting Non-voting Capital Earnings Income (Loss) Total

22 $ 39,648 $39,404 $

928 $ 80,178

BALANCE, December 31, 2015 . . . 17,633,026 2,186,323 $ 176 $

Stock-based Compensation . . . . . . . Comprehensive Income (Loss) . . . .

— —

— — — —

— — —

222

—

—

222

— 13,215

(4,203) 9,012

Stock Options Exercised . . . . . . . . . 100,000

—

1

99

—

—

100

Issuance of Common Stock, Net of Issuance Costs . . . . . . . . . . . . . 3,049,368 1,659,537 30

16 26,000

—

— 26,046

Redemption and Cancellation of Common Stock . . . . . . . . . . . . . . (38,393)

— —

— (192)

—

— (192)

38 65,777 52,619

(3,275) 115,366

BALANCE, December 31, 2016 . . . 20,744,001 3,845,860 207

Stock-based Compensation . . . . . . .

—

— —

—

368

—

—

368

Comprehensive Income . . . . . . . . . Stock Options Exercised . . . . . . . . . Stock-based Compensation . . . . . . . Comprehensive Income (Loss) . . . .

—

— —

— — — —

—

16,889

4,359 21,248

90,000

—

1

179

—

—

180

38 66,324 69,508

1,084 137,162

BALANCE, December 31, 2017 . . . 20,834,001 3,845,860 208

— —

— — — —

799

—

—

799

— 26,920

(2,846) 24,074

Issuance of Common Stock, Net of Issuance Costs . . . . . . . . . . . . . 5,379,513

— 54

— 58,803

—

— 58,857

Conversion of Non-voting Stock to Voting Stock . . . . . . . . . . . . . . 3,845,860 (3,845,860) 38

(38)

—

— —

— —

—

Stock Options Exercised . . . . . . . . . Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act to Retained Earnings . . . . . . .

37,900

—

1

—

105

106

—

— — — $ 301 $

—

— (194)

194

—

— $126,031 $96,234 $

(1,568) $220,998

BALANCE, December 31, 2018 . . . 30,097,274

See accompanying notes to consolidated financial statements.

79