Bridgewater Q2 EPS $0.31, net income $9.8M; NIM falls to 2.40%, deposit growth strong

Bridgewater Bancshares Inc

2023-Q2 EPS reported $0.69

Net income $9.8M ($0.31 diluted EPS), down 24% QoQ from $11.6M ($0.37) and 24% YoY from $12.9M ($0.41).
Net interest margin fell to 2.40% from 2.72% Q1 and 3.58% YoY; net interest income $25.9M down $2.7M linked quarter.
Deposits increased $166.8M (19.6% annualized) with core deposits up $45.3M; total borrowing capacity $1.5B at June 30.
Nonperforming assets 0.02% of total assets; allowance for credit losses 1.36% of loans; net charge-offs near zero.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bridgewater Bancshares Inc reported for the three and six months ended June 30, 2023 results: net income $9.8 million, EPS $0.31 diluted earnings per common share.

Period: for the three and six months ended June 30, 2023
Net income: $9.8 million
EPS: $0.31 diluted earnings per common share
Result: reported results

Exact text from the filing

Bridgewater Bancshares, Inc. Announces Second Quarter 2023 Net Income of $9.8 Million, $0.31 Diluted Earnings Per Common Share

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Source: SEC EDGAR

accession 0001558370-23-012298

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