2020 Annual Report

Bridgewater Bancshares, Inc. and Subsidiaries Notes to Consolidated Financial Statements (dollars in thousands, except share data)

The following tables present the aging of the recorded investment in past due loans by loan segment as of December 31, 2020 and 2019:

Accruing Interest 30-89 Days

90 Days or

December 31, 2020

Current Past Due More Past Due Nonaccrual

Total

Commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 304,211 $ Paycheck Protection Program . . . . . . . . . . . . . . . . 138,454 Construction and Land Development . . . . . . . . . 170,061 Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage. . . . . . . 30,280 1st REM - 1-4 Family. . . . . . . . . . . . . . . . . . . . . . . 41,942 LOCs and 2nd REM - Rentals . . . . . . . . . . . . . . . . 20,668 1st REM - Rentals. . . . . . . . . . . . . . . . . . . . . . . . . . 201,579 Multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 626,465 CRE Owner Occupied . . . . . . . . . . . . . . . . . . . . . . 74,991 CRE Nonowner Occupied . . . . . . . . . . . . . . . . . . . 709,300

3 $

— $

6 $ 304,220 — 138,454 156 170,217 — 30,280 — 41,942 — 20,678 — 201,579 — 626,465 613 75,604 — 709,300

— —

— —

— —

— — — — — — — —

10

— — — — —

Consumer and Other . . . . . . . . . . . . . . . . . . . . . . .

7,689

—

7,689

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,325,640 $

13 $

— $ 775 $ 2,326,428

Accruing Interest 30-89 Days

90 Days or

December 31, 2019

Current Past Due More Past Due Nonaccrual

Total

Commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 276,028 $ Construction and Land Development . . . . . . . . . . 196,600

— $

— $

7 $ 276,035 176 196,776

—

—

Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage. . . . . . . . 1st REM - 1-4 Family. . . . . . . . . . . . . . . . . . . . . . . . LOCs and 2nd REM - Rentals . . . . . . . . . . . . . . . . .

— — — — — — — —

— —

28,621 36,671 18,671

28,621 36,671 18,527

— — — — — —

144

134 176,648 — 515,014

1st REM - Rentals. . . . . . . . . . . . . . . . . . . . . . . . . . . 176,114 Multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 515,014

400

66,584

—

66,584

CRE Owner Occupied . . . . . . . . . . . . . . . . . . . . . . .

CRE Nonowner Occupied . . . . . . . . . . . . . . . . . . . . 592,545 Consumer and Other . . . . . . . . . . . . . . . . . . . . . . . . 4,470

— 592,545

3

—

4,473

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,911,174 $ 403 $

— $ 461 $ 1,912,038

At December 31, 2020, there were three loans classified as troubled debt restructurings with a current outstanding balance of $421. In comparison, at December 31, 2019, there were three loans classified as troubled debt restructurings with an outstanding balance of $452. There were no new loans classified as troubled debt restructurings during the year ended December 31, 2020 and no loans classified as troubled debt restructurings during the previous twelve months that subsequently defaulted during the year ended December 31, 2020. In response to the COVID-19 pandemic, the Company has developed programs for clients who are experiencing business and personal disruptions due to the COVID-19 pandemic pursuant to which the Company may provide loan payment deferrals or interest-only modifications. In accordance with interagency regulatory guidance and the CARES Act, qualifying loans modified in response to the COVID-19 pandemic will not be considered troubled debt restructurings.

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