Bridgewater Bancshares to acquire First Minnetonka City Bank in all-cash deal; combined assets ~$4.9B

Bridgewater Bancshares Inc

All-cash acquisition of First Minnetonka City Bank; target had $242M assets as of June 30, 2024.
Combined pro forma: ~$4.9B total assets, $4.0B deposits, $3.9B loans, nine Twin Cities branches.
Transaction approved by both boards and FMB shareholders; expected close Q4 2024, subject to regulatory approvals.
Bridgewater says deal adds granular core deposits, loan diversification, and investment advisory platform.
No purchase price disclosed in press release.

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