Bridgewater Bancshares, Inc._2023 Annual Report

The following tables present time to contractual maturity and sensitivity to interest rate changes for the loan portfolio at December 31, 2023 and 2022:

As of December 31, 2023

Due in One Year

More Than One Year to Five Years

More Than Five Year to Fifteen Years

After

(dollars in thousands)

or Less

Fifteen Years

Commercial . . . . . . . . . . . . . . . . . . . . . Construction and Land Development 1-4 Family Construction . . . . . . . . . . . Real Estate Mortgage: 1-4 Family Mortgage .......... Multifamily .................. CRE Owner Occupied .......... CRE Nonowner Occupied ...... Total Real Estate Mortgage Loans. . . ConsumerandOther.............. Total Loans, Gross .............. Interest Rate Sensitivity: Fixed Interest Rates .............. Floating or Adjustable Rates ....... Total Loans, Gross .............. Commercial . . . . . . . . . . . . . . . . . . . . . Paycheck Protection Program. . . . . . . Construction and Land Development 1-4 Family Construction . . . . . . . . . . . Real Estate Mortgage: 1-4 Family Mortgage .......... Multifamily .................. CRE Owner Occupied .......... CRE Nonowner Occupied ...... Total Real Estate Mortgage Loans. . . ConsumerandOther.............. Total Loans, Gross .............. Interest Rate Sensitivity: Fixed Interest Rates .............. Floating or Adjustable Rates ....... Total Loans, Gross .............. (dollars in thousands)

$

157,047 99,183 46,601 59,962 242,291 204,297 514,821 8,271

$

206,460 93,013

$

96,826 40,608 9,010

$

3,728

— —

9,476

262,468 482,380 83,280 503,196 1,331,324

79,320 576,348 84,232 279,813 1,019,713

646

87,522

— —

88,168

2,568

5,533

—

203

$

820,220

$

1,645,806

$

1,166,157

$

92,099

$

502,454 317,766 820,220

$

1,414,656 231,150 1,645,806

$

673,563 492,594 1,166,157

$

26,172 65,927 92,099

$

$

$

$

As of December 31, 2022

Due in One Year

More Than One Year to Five Years

More Than Five Year to Fifteen Years

After

or Less

Fifteen Years

$

137,657 $

197,363 $

97,259 $

3,065

—

1,049

—

—

96,702 54,469 54,499 157,585 120,645 338,438 5,709

125,996 10,510

66,156 5,263

6,700

—

214,434 454,880 47,894 471,656 1,188,864

85,880 642,029 96,302 354,707 1,178,918

661

52,244

— —

52,905

4,921

2,988

—

223

$

632,187 $

1,526,770 $

1,347,596 $

62,893

$

333,898 $

1,187,519 $

804,838 $

11,115 51,778 62,893

298,289

339,251

542,758

$

632,187 $

1,526,770 $

1,347,596 $

Asset Quality The Company emphasizes credit quality in the originating and monitoring of the loan portfolio, and success in underwriting is measured by the levels of classified and nonperforming assets and net charge-offs. Federal regulations and internal policies require the use of an asset classification system as a means of managing and reporting problem and potential problem assets. The Company has incorporated an internal asset classification system, substantially consistent with federal banking regulations, as a part of the credit monitoring system. Federal banking regulations set forth a classification scheme for problem and potential problem assets as “substandard,” “doubtful” or “loss” assets. An asset is considered “substandard” if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. “Substandard” assets include those characterized by the “distinct possibility” that the financial institution will sustain “some loss” if the deficiencies are not corrected. Assets classified as “doubtful” have all

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