Bridgewater Bancshares, Inc._2023 Annual Report

Bridgewater Bancshares, Inc. and Subsidiaries Consolidated Statements of Income (dollars in thousands, except per share data)

Year Ended December 31, December 31, December 31, 2023 2022 2021

INTEREST INCOME Loans,IncludingFees....................................................... $ InvestmentSecurities....................................................... Other................................................................... TotalInterestIncome...................................................... INTEREST EXPENSE Deposits................................................................. FederalFundsPurchased .................................................... NotesPayable ............................................................ FHLBAdvances........................................................... SubordinatedDebentures .................................................... TotalInterestExpense..................................................... NET INTEREST INCOME .................................................. Provisionfor(Recoveryof)CreditLosses........................................ NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES ......................................... NONINTEREST INCOME CustomerServiceFees...................................................... Net Gain (Loss) on Sales of Available for Sale Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . LettersofCreditFees....................................................... DebitCardInterchangeFees.................................................. SwapFees............................................................... Bank-OwnedLifeInsurance.................................................. FHLBPrepaymentIncome................................................... OtherIncome............................................................. TotalNoninterestIncome................................................... NONINTEREST EXPENSE SalariesandEmployeeBenefits ............................................... OccupancyandEquipment................................................... FDICInsuranceAssessment.................................................. DataProcessing........................................................... ProfessionalandConsultingFees.............................................. DerivativeCollateralFees.................................................... Information Technology and Telecommunications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MarketingandAdvertising................................................... IntangibleAssetAmortization ................................................ AmortizationofTaxCreditInvestments......................................... DebtPrepaymentFees ...................................................... OtherExpense............................................................ TotalNoninterestExpense.................................................. INCOME BEFORE INCOME TAXES ......................................... ProvisionforIncomeTaxes .................................................. NET INCOME ............................................................ PreferredStockDividends ................................................... NET INCOME AVAILABLE TO COMMON SHAREHOLDERS .................... $ EARNINGS PER SHARE Basic................................................................... $ Diluted.................................................................. DividendsPaidPerCommonShare.............................................

191,402 $

146,256 $

118,845

26,245 4,708 222,355

16,410 1,029 163,695

9,576

458

128,879

96,045 8,521 1,143 7,489 3,983 117,181

23,379 4,507 1,221 4,688 33,997 202

13,842

6

61

831

4,630 19,370

105,174

129,698

109,509

(175)

7,700

5,150

105,349

121,998

104,359

1,455

1,236

1,007

(33)

82

750

1,746

1,592

1,676

595

586 557 762

563

—

—

992 792 946

316

—

—

1,517 6,332

997

6,493

5,309

36,538 4,447 3,690 1,574 3,081 1,900 2,889 1,129 3,972 59,320 52,522 12,562 39,960 (4,054) 100 — —

36,941 4,390 1,365 1,396 2,664

30,889 3,916 1,305 1,222 2,520

687

3

2,495 2,032

2,163 1,487

191 408

191 562 582

—

4,051 56,620 71,710 18,318 53,392 (4,054)

3,255 48,095 61,573 15,886 45,687 (1,171) 44,516

35,906 $

49,338 $

1.29 $

1.78 $

1.59 1.54

1.27

1.72

—

—

—

See accompanying notes to consolidated financial statements .

85