Bridgewater Bancshares, Inc. (BWB)

Bridgewater Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	202.59	191.4	146.26	118.85	105.49	94.85
Interest Income on Investments	38.54	30.95	17.44	10.03	9.33	8.93
Total Interest Income	241.13	222.36	163.7	128.88	114.83	103.78
Interest Paid on Deposits	125.44	96.05	23.38	13.84	19.81	24
Interest Paid on Borrowings	15.14	21.14	10.62	5.53	7.05	5.65
Total Interest Expense	140.59	117.18	34	19.37	26.86	29.65
Net Interest Income	100.54	105.17	129.7	109.51	87.96	74.13
Net Interest Income Growth (YoY)	-10.83%	-18.91%	18.44%	24.49%	18.66%	14.51%
Gain (Loss) on Sale of Investments	0.36	-0.03	-0.33	0.19	0.77	-2.71
Other Non-Interest Income	5.89	6.53	6.25	4.56	4.34	3.24
Total Non-Interest Income	6.24	6.49	5.92	4.75	5.1	0.6
Non-Interest Income Growth (YoY)	-6.92%	9.60%	24.79%	-6.94%	748.75%	-
Revenues Before Loan Losses	106.78	111.67	135.62	114.26	93.07	74.73
Provision for Loan Losses	1.1	-0.18	7.7	5.15	12.75	2.7
Revenue	105.68	111.84	127.92	109.11	80.32	72.03
Revenue Growth (YoY)	-10.35%	-12.57%	17.25%	35.85%	11.50%	19.23%
Salaries and Employee Benefits	34.54	32.58	33.6	28.46	23.9	21.31
Occupancy Expenses	3.46	3.63	3.6	3.86	2.06	3.09
Federal Deposit Insurance	3.4	3.69	1.37	1.31	-	-
Amortization of Goodwill & Intangibles	0.04	0.1	0.19	0.19	-	-
Selling, General & Administrative	14.8	13.45	12.72	9.87	3.66	2.27
Other Non-Interest Expense	6	5.87	4.74	3.26	7.99	7.04
Total Non-Interest Expense	62.23	59.32	56.21	46.95	37.61	33.71
EBT Excluding Unusual Items	43.46	52.52	71.71	62.16	42.71	38.33
Other Unusual Items	-	-	-	-0.58	-7.04	-
Pretax Income	43.46	52.52	71.71	61.57	35.67	38.33
Income Tax Expense	9.96	12.56	18.32	15.89	8.47	6.92
Net Income	33.49	39.96	53.39	45.69	27.19	31.4
Preferred Dividends & Other Adjustments	4.05	4.05	4.05	1.17	-	-
Net Income to Common	29.44	35.91	49.34	44.52	27.19	31.4
Net Income Growth	-25.27%	-25.16%	16.86%	68.00%	-13.40%	16.65%
Basic Shares Outstanding	28	28	28	28	29	29
Diluted Shares Outstanding	28	28	29	29	29	30
Shares Change (YoY)	-0.92%	-1.23%	-1.04%	-0.69%	-2.76%	1.90%
EPS (Basic)	1.07	1.29	1.78	1.59	0.95	1.07
EPS (Diluted)	1.05	1.27	1.72	1.54	0.93	1.05
EPS Growth	-27.06%	-26.16%	11.69%	65.59%	-11.43%	15.38%
Effective Tax Rate	22.92%	23.92%	25.54%	25.80%	23.75%	18.06%

Source: S&P Capital IQ. Banks template. Financial Sources.