Bridgewater Bancshares, Inc._2023 Annual Report

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

The following table presents loan balances classified by credit quality indicators by year of origination as of December 31, 2023:

December 31, 2023

(dollars in thousands)

2023

2022

2021

2020

2019

Prior

Revolving

Total

Commercial Pass................................... $ 93,299 $ 121,274 $ 37,056 $ 19,297 $ 18,594 $ 4,507 $ 149,836 $ 443,863 Watch................................. 1,700 318 34 — — — 2,003 4,055 Substandard............................. 3 11,299 — — — 50 4,791 16,143 Total Commercial ......................... 95,002 132,891 37,090 19,297 18,594 4,557 156,630 464,061 Current Period Gross Write-offs . . . . . . . . . . . . . . 72 96 12 — — — — 180 Construction and Land Development Pass................................... 87,402 99,133 34,122 46 — — 12,021 232,724 Substandard............................. — 80 — — — — — 80 Total Construction and Land Development . . . . . . 87,402 99,213 34,122 46 — — 12,021 232,804 Current Period Gross Write-offs . . . . . . . . . . . . . . — — — — — — — — 1-4 Family Construction Pass................................... 35,172 16,156 941 355 — — 12,214 64,838 Substandard............................. 249 — — — — — — 249 Total 1-4 Family Construction ................ 35,421 16,156 941 355 — — 12,214 65,087 Current Period Gross Write-offs . . . . . . . . . . . . . . — — — — — — — —

Real Estate Mortgage: 1-4 Family Mortgage Pass................................... Substandard............................. Total 1-4 Family Mortgage .................. Current Period Gross Write-offs . . . . . . . . . . . . . . Multifamily Pass................................... Watch................................. Total Multifamily ......................... Current Period Gross Write-offs . . . . . . . . . . . . . . CRE Owner Occupied Pass................................... Substandard............................. Total CRE Owner Occupied ................. Current Period Gross Write-offs . . . . . . . . . . . . . . CRE Nonowner Occupied Pass................................... Watch................................. Substandard............................. Total CRE Nonowner Occupied .............. Current Period Gross Write-offs . . . . . . . . . . . . . .

74,602

106,085

83,525

52,813

18,789

3,403

62,490

401,707

—

—

—

—

—

659

30

689

74,602

106,085

83,525

52,813

18,789

4,062

62,520

402,396

—

—

—

—

—

—

—

—

192,078

456,179

444,162

196,784

41,998

45,847

8,577

1,385,625

2,916

—

—

—

—

—

—

2,916

194,994

456,179

444,162

196,784

41,998

45,847

8,577

1,388,541

—

—

—

—

—

—

—

—

36,255

61,724

40,748

20,610

4,903

8,312

1,672

174,224

194

—

494

—

—

871

—

1,559

36,449

61,724

41,242

20,610

4,903

9,183

1,672

175,783

—

—

—

—

—

—

—

—

164,226 16,301 15,183 195,710

305,749

253,683

77,618

78,288

66,569

4,521

950,654 19,514 17,138 987,306

—

3,213

— —

— —

— —

— —

1,955

—

307,704

256,896

77,618

78,288

66,569

4,521

—

—

—

—

—

—

—

—

501,755

931,692

825,825

347,825

143,978

125,661

77,290

2,954,026

Total Real Estate Mortgage Loans .............

Consumer and Other Pass................................... Total Consumer and Other .................. Current Period Gross Write-offs . . . . . . . . . . . . . .

2,908 2,908

256 256

9 9

1,460 1,460

6 6

— — —

3,665 3,665

8,304 8,304

42

—

—

—

—

2

44

Total Period Gross Write-offs. . . . . . . . . . . . . . . . . . 224 Total Loans .............................. $ 722,488 $ 1,180,208 $ 897,987 $ 368,983 $ 162,578 $ 130,218 $ 261,820 $ 3,724,282 114 96 12 — — — 2

106