---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-008830"
form_type: "8-K"
ticker: "BWB"
cik: "0001341317"
company_name: "Bridgewater Bancshares Inc"
filed_at: "2025-06-24T23:59:59+00:00"
generated_at: "2026-05-18T22:10:21.541608+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Bridgewater Bancshares issues $80M of 7.625% sub notes due 2035, to redeem $50M of 5.25% notes

## Summary
- Issued $80M aggregate principal of 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 at par.
- Interest fixed at 7.625% through June 2030, then resets quarterly to 3-month SOFR + 388 bps.
- Proceeds to redeem $50M of outstanding 5.25% Subordinated Notes due 2030 plus general corporate purposes.
- Notes qualify as Tier 2 capital; redeemable in whole or part on/after June 30, 2030.
- Private placement under Rule 506(b); Piper Sandler lead placement agent.

## SEC filing metadata
- accession: 0001558370-25-008830
- form_type: 8-K
- ticker: BWB
- cik: 0001341317
- company_name: Bridgewater Bancshares Inc
- filed_at: 2025-06-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1341317/000155837025008830/0001558370-25-008830-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1341317/000155837025008830/bwb-20250624x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-008830
- JSON: https://secwatch.observer/filing/0001558370-25-008830.json
- Plain text: https://secwatch.observer/filing/0001558370-25-008830.txt

## Key facts
- Debt Financings
  Bridgewater Bancshares Inc incurred senior notes of $80.0 million with certain institutional accredited investors and qualified institutional buyers at 7.625% Fixed-to-Floating Rate maturing June 30, 2035.
  - Instrument: senior notes
  - Principal: $80.0 million
  - Counterparty: certain institutional accredited investors and qualified institutional buyers
  - Rate: 7.625% Fixed-to-Floating Rate
  - Maturity: June 30, 2035
  - Event: incurrence
  source text: On June 24, 2025, Bridgewater Bancshares, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Purchase Agreement”) with certain institutional accredited investors and qualified institutional buyers (the “Purchasers”) pursuant to which the Company sold and issued $80.0 million in aggregate principal amount of its 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1341317/000155837025008830/0001558370-25-008830-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.