Bridgewater Bancshares Q1 net income $7.8M, diluted EPS $0.24; deposits rise $97M

Bridgewater Bancshares Inc

2024-Q1 EPS reported $0.24

Net income $7.8M, diluted EPS $0.24 (vs $8.9M/$0.28 Q4'23, $11.6M/$0.37 Q1'23).
Tangible book value per share $13.20, up 11.5% annualized from Q4'23; 29th consecutive quarterly increase.
Gross loans +$59.9M (6.5% annualized); deposits +$97.3M (10.5% annualized); loan-to-deposit ratio 99.4%.
Repurchased 193,802 shares at avg $11.75 for $2.3M; $18.2M remaining under authorization.
Declared quarterly cash dividend on Series A preferred: $0.3672 per depositary share payable June 3, 2024.

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 first quarter of 2024 results: net income $7.8 million, EPS $0.24 diluted earnings per common share.

Period: first quarter of 2024
Net income: $7.8 million
EPS: $0.24 diluted earnings per common share
Result: reported results

Exact text from the filing

Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank (the Bank), today announced net income of $7.8 million for the first quarter of 2024, compared to $8.9 million for the fourth quarter of 2023, and $11.6 million for the first quarter of 2023. Earnings per diluted common share were $0.24 for the first quarter of 2024, compared to $0.28 for the fourth quarter of 2023, and $0.37 for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001558370-24-005607

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