2020 Annual Report

loan was originated, funded, or serviced by us, the SBA may deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of any loss related to the deficiency from us. ITEM 1.B. UNRESOLVED STAFF COMMENTS

None.

ITEM 2. PROPERTIES

Our corporate headquarters is located at 4450 Excelsior Boulevard, Suite 100, St. Louis Park, Minnesota 55416. Including our corporate headquarters, we operate seven full-service branch offices located in the Twin Cities MSA. We currently own three of our branch offices located in Orono, St. Louis Park and Minneapolis (Hennepin Avenue), and lease the remaining four locations. Additional information regarding our locations is set forth below. Headquarters and St. Louis Park Branch: 4450 Excelsior Boulevard, Suite 100, St. Louis Park, Minnesota 55416 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other Branch Locations: 21500 Highway 7, Greenwood, Minnesota 55331 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northstar Center West, 625 Marquette Avenue, Suite #W0100, Minneapolis, Minnesota 55402 . . . . . . . . . . . . . . . 2445 Shadywood Road, Orono, Minnesota 55331 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3100 Hennepin Avenue, Minneapolis, Minnesota 55408 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 370 Wabasha Street N., St. Paul, Minnesota 55102 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7831 East Bush Lake Road, Suite 300, Bloomington, Minnesota 55439 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Owned Leased Leased Owned Owned Leased Leased Neither the Company nor any of its subsidiaries is a party, and no property of these entities is subject, to any material pending legal proceedings, other than ordinary routine litigation incidental to the Bank’s business. The Company does not know of any proceeding contemplated by a governmental authority against the Company or any of its subsidiaries. ITEM 4. MINE SAFETY DISCLOSURES PART II ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock trades on the Nasdaq Stock Market (“Nasdaq”) under the symbol “BWB.” As of March 2, 2021, the Company had 121 holders of record of the Company’s common stock and an estimated 3,283 additional beneficial holders of the Company’s common stock whose stock was held in street name by brokerages or fiduciaries. Issuer Purchases of Equity Securities On January 22, 2019, the Company’s board of directors approved a stock repurchase program (the “Program”) which authorized the Company to repurchase up to $15.0 million of its common stock, subject to certain limitations and conditions. The Program was effective immediately and was subsequently expanded. On July 23, 2019 and October 27, 2020, the Company's board of directors approved $10.0 million and $15.0 million increases, respectively, to the Program Not applicable. Address Owned/Leased (1) Does not include the leased drive-up property located adjacent to the branch. ITEM 3. LEGAL PROCEEDINGS

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