secwatch.observer — SEC 8-K summary
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Issuer:     Bridgewater Bancshares Inc (BWB)
CIK:        0001341317
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001558370-23-006853
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1341317/000155837023006853/0001558370-23-006853-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1341317/000155837023006853/bwb-20230426x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-006853

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