Bridgewater Bancshares, Inc._2023 Annual Report

Bridgewater Bancshares, Inc. and Subsidiaries Consolidated Balance Sheets (dollars in thousands, except share data)

December 31,

December 31,

2023

2022

ASSETS CashandCashEquivalents.......................................................... $ Bank-OwnedCertificatesofDeposit................................................... SecuritiesAvailableforSale,atFairValue.............................................. Loans, Net of Allowance for Credit Losses of $50,494 at December 31, 2023, and $47,996 at December31,2022................................................................ FederalHomeLoanBank(FHLB)Stock,atCost......................................... PremisesandEquipment,Net........................................................ AccruedInterest................................................................... Goodwill ........................................................................ OtherIntangibleAssets,Net......................................................... Bank-OwnedLifeInsurance......................................................... OtherAssets ..................................................................... 78,739 TotalAssets.................................................................. $ 4,611,990 $ 4,345,662 LIABILITIES AND EQUITY LIABILITIES Deposits: NoninterestBearing .............................................................. $ 756,964 $ 884,272 InterestBearing.................................................................. 2,952,984 2,532,271 TotalDeposits................................................................ 3,709,948 3,416,543 FederalFundsPurchased............................................................ — 287,000 NotesPayable .................................................................... 13,750 13,750 FHLBAdvances .................................................................. 319,500 97,000 SubordinatedDebentures,NetofIssuanceCosts ......................................... 79,288 78,905 AccruedInterestPayable............................................................ 5,282 2,831 OtherLiabilities................................................................... 58,707 55,569 TotalLiabilities............................................................... 4,186,475 3,951,598 SHAREHOLDERS' EQUITY Preferred Stock- $0.01 par value; Authorized 10,000,000 128,562 $ 87,043 1,181 548,613 — 604,104 3,667,215 3,512,157 17,097 48,886 16,697 2,626 19,606 48,445 13,479 2,626 188 288 34,477 92,138 33,485 Preferred Stock - Issued and Outstanding 27,600 Series A shares ($2,500 liquidation preference) atDecember31,2023andDecember31,2022........................................ Common Stock- $0.01 par value; Authorized 75,000,000 Common Stock - Issued and Outstanding 27,748,965 at December 31, 2023 and 27,751,950 at December31,2022 ............................................................. AdditionalPaid-InCapital........................................................... RetainedEarnings................................................................. AccumulatedOtherComprehensiveLoss............................................... TotalShareholders'Equity....................................................... 394,064 TotalLiabilitiesandEquity..................................................... $ 4,611,990 $ 4,345,662 See accompanying notes to consolidated financial statements. 66,514 66,514 277 278 96,320 280,650 (18,246) 425,515

96,529 248,685 (17,942)

84