---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006853"
form_type: "8-K"
ticker: "BWB"
cik: "0001341317"
company_name: "Bridgewater Bancshares Inc"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:07:51.520229+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bridgewater Bancshares Q1 net income $11.6M, EPS $0.37, down QoQ; NIM falls to 2.72%

## Summary
- Net income $11.6M ($0.37 diluted EPS) vs $13.7M ($0.45) Q4 2022; ROA 1.07%, ROE 11.70%.
- Net interest margin (tax-equiv) 2.72%, down 44 bps QoQ; cost of deposits rose to 2.01% from 1.31%.
- Gross loans increased $114.9M (13.1% annualized) to $3.68B; deposits slightly down $5.4M.
- Credit loss provision $1.5M; ACL to loans 1.36%; net charge-offs near zero.
- Preferred Series A dividend $0.3672/depositary share payable June 1, record May 15.

## SEC filing metadata
- accession: 0001558370-23-006853
- form_type: 8-K
- ticker: BWB
- cik: 0001341317
- company_name: Bridgewater Bancshares Inc
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1341317/000155837023006853/0001558370-23-006853-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1341317/000155837023006853/bwb-20230426x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006853
- JSON: https://secwatch.observer/filing/0001558370-23-006853.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006853.txt

## Key facts
- Earnings Releases
  Bridgewater Bancshares Inc reported first quarter of 2023 results: net income net income of $11.6 million, EPS Earnings per diluted common share ... were $0.37.
  - Period: first quarter of 2023
  - Net income: net income of $11.6 million
  - EPS: Earnings per diluted common share ... were $0.37
  - Result: reported results
  source text: Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank (the Bank), today announced net income of $11.6 million for the first quarter of 2023, compared to $13.7 million for the fourth quarter of 2022, and $12.3 million for the first quarter of 2022. Earnings per diluted common share for the first quarter of 2023 were $0.37, compared to $0.45 per diluted common share for the fourth quarter of 2022, and $0.39 per diluted common share for the same period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1341317/000155837023006853/0001558370-23-006853-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.