Bridgewater Bancshares, Inc._2023 Annual Report

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

Note 3: Bank - Owned Certificates of Deposit

Certificates of deposit in other financial institutions by maturity are as follows:

Year Ended December 31,

2023

2022

(dollars in thousands)

Certificates of Deposit at Cost Maturing in: One Year or Less ........................................................... $ After One Year Through Five Years ............................................

— $

936 245

—

— $

1,181

$

Note 4: Securities The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at December 31, 2023 and 2022:

December 31, 2023 Gross Gross Amortized Unrealized Unrealized

(dollars in thousands)

Cost

Gains

Losses

Fair Value

Securities Available for Sale: MunicipalBonds............................................ $151,512 $ Mortgage-Backed Securities .................................. 249,455 Corporate Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142,098 SBA Securities ............................................. 18,497 Asset-BackedSecurities...................................... 87,054 86,986 Total Securities Available for Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 648,616 $ 3,330 $ (47,842) $ 604,104 47 $ (19,035) $ 132,524 2,261 (16,401) (11,879) 235,315 130,605 18,674 386 279 357 (102) (425)

December 31, 2022 Gross Gross Amortized Unrealized Unrealized

(dollars in thousands)

Cost

Gains

Losses

Fair Value

Securities Available for Sale: U.S.TreasurySecurities...................................... $ 2,621 $ MunicipalBonds............................................ 156,506 Mortgage-Backed Securities .................................. 252,919 Corporate Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,871 SBA Securities ............................................. 20,957 Asset-BackedSecurities...................................... 46,623 46,191 Total Securities Available for Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 596,497 $ 2,839 $ (50,723) $ 548,613 — $ (41) $ 2,580 62 (25,214) (17,600) (7,089) 131,354 237,784 109,827 20,877 2,465 45 79 (159) (620) 188

101