secwatch.observer — SEC 8-K summary
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Issuer:     Bridgewater Bancshares Inc (BWB)
CIK:        0001341317
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001558370-23-012298
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 Q2 EPS $0.31, net income $9.8M; NIM falls to 2.40%, deposit growth strong
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1341317/000155837023012298/0001558370-23-012298-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1341317/000155837023012298/bwb-20230726x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-012298

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