EX-99.1 2 bwb-20241023xex99d1.htm EX-99.1

第99.1展示文本


媒體聯繫人： Jessica Stejskal \| 高級副總裁 - 市場營銷 Jessica.Stejskal@bwbmn.com \| 952.893.6860	投資者聯繫人：賈斯汀·霍斯特曼\|副總裁投資者關係 Justin.Horstman@bwbmn.com \| 952.542.5169

2024年10月23日

Bridgewater Bancshares, Inc.宣佈2024年第三季度淨利潤爲870萬美元，每股攤薄盈利爲0.27美元
，每股攤薄盈利爲0.27美元

2024年第三季度業績亮點

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每股有形賬面價值⁽¹⁾ 2024年第三季度淨利潤爲13.96美元，比2024年第二季度的13.53美元增加了0.43美元，年增率爲12.8%。

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稅前淨收入⁽¹⁾ 從2024年第二季度增加了489,000美元，或4.5%。

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淨利息收入從2024年第二季度增加了603,000美元，增長了2.4%。

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2024年第三季度淨利息收益率（按全面稅等效基礎）爲2.24%，與2024年第二季度持平。

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核心存入資金⁽²⁾2024年第二季度淨利潤年化增加9360萬美元，增長14.4%。總存款從2024年第二季度減少6030萬美元，主要因經紀存款減少13130萬美元。

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2024年第二季度毛貸款減少11480萬美元，主要受到貸款償還水平的提高的影響。

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2024年6月30日貸款存款比爲98.3%，低於2024年第二季度的99.8%。

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效率比率⁽¹⁾ 爲58.0%，低於2024年第二季度的58.7%。

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No provision for credit losses on loans was recorded in the third quarter of 2024. The allowance for credit losses on loans to total loans was 1.38% at September 30, 2024, compared to 1.37% at June 30, 2024.

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Annualized net loan charge-offs as a percentage of average loans of 0.10% for the third quarter of 2024, compared to 0.00% for the second quarter of 2024, primarily driven by one central business district office loan.

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Nonperforming assets to total assets of 0.19% at September 30, 2024, compared to 0.01% at June 30, 2024.

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宣佈戰略收購第一明內頓卡市銀行。已於2024年10月獲得所有必要的監管批准，預計將在2024年第四季度完成交易。

(1)	代表了一個非通用會計準則 financial 指標。請參閱 "非通用會計金融進一步了解詳細信息。

(2)	C礦石存款被定義爲總存款減去經紀存款和大於25萬美元的存單。

聖路易斯公園，明尼蘇達州 – Bridgewater Bancshares, Inc. (納斯達克: BWB)（該公司）Bridgewater Bank（銀行）的母公司，今天宣佈2024年第三季度淨利潤爲870萬美元，而2024年第二季度爲810萬美元，2013年第三季度爲960萬美元。每股攤薄普通股收益爲2024年第三季度爲0.27美元，而2024年第二季度爲0.26美元，2013年第三季度爲0.30美元。

第1頁，共17頁

貝里奇水的第三季度業績強勁，核心存款增長穩健，在聯儲局9月份減息後，利率環境改善，淨利息收益率穩定，董事長兼首席執行官傑裏·巴克表示。因此，我們實現了淨利息收益增長和稅前淨收入增長。資產質量也保持強勁，隨着雙城地區多戶型趨勢改善，如空置率下降，我們繼續看到改善的跡象。

「我們很高興宣佈，我們已經在八月簽署了收購第一明尼託卡城市銀行的最終協議，預計將在2024年第四季度關閉。這項交易帶來了幾項戰略利益，包括低成本、核心存款基礎和資產負債表選擇性。當這與我們今年迄今已經取得的強勁核心存款增長相結合時，我們相信我們將擁有增強的融資和流動性結構，從而使我們未來更具競爭力。」

關鍵財務指標


	截至及結束於三個月的時間段									截至九個月結束時
	2021年9月30日			6月30日,			2021年9月30日			2021年9月30日			2021年9月30日
	2024			2024			2023			2024			2023
每股收益
基本每股收益	$	0.28		$	0.26		$	0.31		$	0.79		$	1.01
攤薄每股收益		0.27			0.26			0.30			0.77			0.99
每股賬面價值		14.06			13.63			12.47			14.06			12.47
每股有形賬面價值 ⁽¹⁾		13.96			13.53			12.37			13.96			12.37

財務比率
平均資產收益率 ⁽²⁾		0.73	%		0.70	%		0.85	%		0.71	%		0.93	%
稅前淨收入平均資產收益率 ⁽¹⁾⁽²⁾		0.96			0.94			1.01			0.95			1.22
平均股東權益收益率 ⁽²⁾		7.79			7.49			9.23			7.55			10.19
平均有形普通股權益收益率⁽¹⁾⁽²⁾		8.16			7.80			9.92			7.87			11.07
淨利息收益率⁽³⁾		2.24			2.24			2.32			2.24			2.47
淨利息收益率⁽¹⁾⁽³⁾		2.16			2.17			2.24			2.17			2.39
總存款成本		3.58			3.46			2.99			3.45			2.57
所有基金類型的費用		3.54			3.49			3.10			3.46			2.81
效率比率⁽¹⁾		58.0			58.7			56.1			58.3			51.2
非利息費用佔平均資產比⁽²⁾		1.33			1.35			1.34			1.34			1.30
有形公共股權佔有形資產比⁽¹⁾		8.17			7.90			7.61			8.17			7.61
一級資本風險加權資本充足率（合併）⁽⁴⁾		9.79			9.41			9.07			9.79			9.07

資產質量和資產負債表(以千美元計)
總資產	$	4,691,517		$	4,687,035		$	4,557,070		$	4,691,517		$	4,557,070
總貸款，毛值		3,685,590			3,800,385			3,722,271			3,685,590			3,722,271
存款		3,747,442			3,807,712			3,675,509			3,747,442			3,675,509
存貸比率		98.3	%		99.8	%		101.3	%		98.3	%		101.3	%
貸款覈銷淨額佔平均貸款比率 ⁽²⁾		0.10			0.00			0.01			0.03			0.00
不良資產/總資產⁽⁵⁾		0.19			0.01			0.02			0.19			0.02
信用損失準備金/全部貸款		1.38			1.37			1.36			1.38			1.36

(1)	代表着一個非普遍認可會計原則 financial measure. See "非通用會計金融 Measures" for further details.

(2)

年化。

(3)	使用聯邦法定稅率 21% 計算得出的稅調當量基礎上的金額。

(4)	初步數據。在申報適用監管機構之前，本期可能會有所變動。

(5)	不良資產定義爲不應計貸款加上 90 天以上逾期仍計息加上公開拍賣資產。

17頁中的第2頁。

損益表

淨利息收益率和淨利息收入

第三季度2024年的淨利息收益率（全稅後等效基礎）爲2.24%，與2024年第二季度穩定，比2023年第三季度的2.32%下降了八個點子。核心淨利息收益率（全稅後等效基礎）爲2024年第三季度的2.16%，是一項不計入貸款費用影響的非通用會計原則財務指標，比2024年第二季度的2.17%下降了一點子，比2023年第三季度的2.24%下降了八個點子。

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2024年每個季度淨利息收益率均穩定在2.24%。

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年度淨利息收益率下降主要是由於拆借成本上升，部分抵消了資產收益率上升。

-- 淨利息收益率環比增加主要是由於現金餘額增加，證券和貸款組合收益率提高以及由於提前償還貸款而增加貸款費用，部分抵消了貸款餘額減少和存款支付利率提高。

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淨利息收益的環比增加主要是由於現金餘額增加，證券和貸款組合的收益率提高以及由於貸款償付增加而導致的貸款費用增加，部分抵消了貸款餘額的減少和存款利率的提高。

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淨利息收益的同比增長主要是由於現金餘額增加，證券組合增長和收益率提高，以及貸款收益率提高，部分抵消了存款增長和存款利率的提高。

2024年第三季度利息收入爲6300萬美元，比2024年第二季度的6090萬美元增加210萬美元，比2023年第三季度的5680萬美元增加620萬美元。

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2024年第三季度利息資產收益率（按全面稅收等效基礎計算）爲5.48%，較2024年第二季度的5.41%和2023年第三季度的5.14%高。

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利息收入資產收益率的環比增長主要是由於繼續以高利率重新定價資產。

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利息收入資產收益率的同比增長主要是由於購買了收益更高的證券以及貸款和證券投資組合在較高利率環境下的重新定價。

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貸款利息收入和貸款手續費仍然是利息收入資產收益變化的主要貢獻因素之一。總體貸款收益率在2024年第三季度上升至5.57%，比2024年第二季度的5.50%高出七個基本點，比2023年第三季度的5.26%高出31個基本點。

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核心貸款收益率繼續上升，在新貸款發放和現有投資組合在較高利率環境下重定價。

以下是有關貸款利息和費用的摘要:


	三個月之內結束
	2024年9月30日		2024年6月30日		酒精飲料銷售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223		2023年12月31日		2023年9月30日
利息	5.47	%	5.42	%	5.31	%	5.25	%	5.16	%
費用	0.10		0.08		0.07		0.08		0.10
貸款收益率	5.57	%	5.50	%	5.38	%	5.33	%	5.26	%

2024年第三季度利息支出爲3740萬美元，比2024年第二季度的3590萬美元增加了150萬美元，比2023年第三季度的3140萬美元增加了600萬美元。

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2024年第三季度，利息人形機器人-軸承成本爲4.27%，而2024年第二季度爲4.19%，2013年第三季度爲3.81%。

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與上一季度相比，利息人形機器人-軸承成本的上升主要是由於存款利率的提高，部分抵消了隔夜借款利用率的下降。

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利息負債成本的年增長主要是由於在高利率環境中繼續重新定價存款。

第3頁，共17頁。

2024年第三季度存款利息支出爲3420萬美元，比2024年第二季度的3160萬美元增加260萬美元，比2023年第三季度的2720萬美元增加700萬美元。

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2024年第三季度總存款成本爲3.58%，較2024年第二季度的3.46%和2023年第三季度的2.99%增加。

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總存款成本的環比增長主要是由於持續的客戶需求推動利率上漲和競爭加劇。

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總存款成本的同比增長主要是由於在較高利率環境中重新定價存款組合。

在本季度，撥備爲26.5萬元，而上個季度爲100萬元。這是由於本期內實現的核銷。公司繼續根據預計預付速率和持續的市場混亂預測信用損失撥備，並受到通貨膨脹升高、供應鏈問題以及貨幣政策對消費者和企業的影響的影響。在這個季度，我們實現了淨覈銷額爲$1.2百萬，而上季度爲$667萬。

2024年第三季度貸款準備的信用損失爲$-0-，而2024年第二季度爲$600,000，2023年第三季度爲$-0-。

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2024年第三季度未記錄貸款信用損失的準備金。儘管貸款在該季度減少，但增加的損失率和其他定性因素的調整導致該季度沒有提供準備金。

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2024年9月30日，貸款總額的信用損失撥備佔貸款總額的1.38%，而2024年6月30日爲1.37%，2024年1月30日爲1.36%。 2023年9月30日.

2024年第三季度，表外信貸風險準備金爲$-0-，與2024年第二季度的$-0-相比，與2023年第三季度的$600,000負向準備金相比。

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由於未撥款承諾保持穩定，2024年第三季度未錄得準備金，該準備金由完成貸款的遷移所抵消，與未撥款承諾的新發放貸款成交量相抵消。

非利息收入

2024年第三季度非利息收入爲150萬美元，較2024年第二季度的180萬元減少了241,000美元，較2023年第三季度的170萬元減少了204,000美元。

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由於第三季度證券銷售淨虧損和第二季度證券銷售淨收益，導致環比減少。

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年度減少主要是由於上一年確認的493,000美元的FHLb預付收入未再次發生，部分抵消了信用證費用的增加，銀行持有人壽保險現金贖回價值的增加以及其他收入的增加。

非利息費用

Noninterest expense was $1580萬 for the third quarter of 2024, an increase of $221,000 from $1550萬 for the second quarter of 2024 and an increase of $523,000 from $1520萬 for the third quarter of 2023.

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The linked-quarter increase was primarily due to increases in professional and consulting fees related to the acquisition of First Minnetonka City Bank and salaries and employee benefits, offset partially by a decrease in data processing and derivative collateral fees.

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The year-over-year increase was primarily attributable to increases in salaries and employee benefits, higher professional and consulting fees relating to the acquisition of First Minnetonka City Bank and increases in information technology and telecommunications 和營銷和廣告費用相抵部分的抵消，聯邦存款保險公司保險評估減少和衍生品抵押品費用降低。

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效率比率，一項非通用會計原則財務指標，2024年第三季度爲58.0％，2024年第二季度爲58.7％，而2023年第三季度爲56.1％。

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公司於2024年9月30日擁有265名全職員工，而2024年6月30日爲258名，2013年第三季度爲255名。 2023年9月30日.

所得稅

2024年第二季度和第三季度的聯邦和州綜合所得稅稅率爲23.6%，而2023年第三季度爲23.0%。

第4頁，共17頁。

Balance Sheet

Loans


(dollars in thousands)	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023
Commercial	$	493,403	$	518,762	$	483,069	$	464,061	$	459,854
Construction and Land Development		118,596		134,096		200,970		232,804		294,818
1 - 4 Family Construction		45,822		60,551		65,606		65,087		64,463
Real Estate Mortgage:
1 - 4 Family Mortgage		421,179		416,944		417,773		402,396		404,716
Multifamily		1,379,814		1,404,835		1,389,345		1,388,541		1,378,669
CRE Owner Occupied		182,239		185,988		182,589		175,783		159,485
CRE Nonowner Occupied		1,032,142		1,070,050		1,035,702		987,306		951,263
Total Real Estate Mortgage Loans		3,015,374		3,077,817		3,025,409		2,954,026		2,894,133
Consumer and Other		12,395		9,159		9,151		8,304		9,003
Total Loans, Gross		3,685,590		3,800,385		3,784,205		3,724,282		3,722,271
Allowance for Credit Losses on Loans		(51,018)		(51,949)		(51,347)		(50,494)		(50,585)
Net Deferred Loan Fees		(5,705)		(6,214)		(6,356)		(6,573)		(7,222)
Total Loans, Net	$	3,628,867	$	3,742,222	$	3,726,502	$	3,667,215	$	3,664,464

Total gross loans at September 30, 2024 were $3.69 billion, a decrease of $114.8 million, or 3.0%, over total gross loans of $3.80 billion at June 30, 2024, and a decrease of $36.7 million, or 1.0%, over total gross loans of $3.72 billion at September 30, 2023.

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The decrease in the loan portfolio during the third quarter of 2024 was due to elevated loan payoffs.

Deposits


(dollars in thousands)	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023
Noninterest Bearing Transaction Deposits	$	713,309	$	705,175	$	698,432	$	756,964	$	754,297
Interest Bearing Transaction Deposits		805,756		752,568		783,736		692,801		780,863
Savings and Money Market Deposits		980,345		943,994		979,773		935,091		872,534
Time Deposits		347,080		373,713		352,510		300,651		265,737
Brokered Deposits		900,952		1,032,262		992,774		1,024,441		1,002,078
Total Deposits	$	3,747,442	$	3,807,712	$	3,807,225	$	3,709,948	$	3,675,509

Total deposits at September 30, 2024 were $3.75 billion, a decrease of $60.3 million, or 1.6%, over total deposits of $3.81 billion at June 30, 2024, and an increase of $71.9 million, or 2.0%, over total deposits of $3.68 billion at September 30, 2023.

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Core deposits, defined as total deposits excluding brokered deposits and time deposits greater than $250,000, increased $93.6 million, or 14.4% annualized, from the second quarter of 2024. Growth in core deposits was due to both increased balances of existing clients and new client acquisitions. On a year-to-date basis, core deposits increased by $131.2 million, or 6.9% annualized. Based on the nature of the Company’s client base, core deposit balances can fluctuate from quarter to quarter, as deposit growth is not always linear.

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Brokered deposits, which declined by $131.3 million, or 12.7%, in the current quarter, continue to be used as a supplemental funding source, as needed.

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Uninsured deposits were 25.0% of total deposits as of September 30, 2024, compared to 22.5% of total deposits as of June 30, 2024.

Page 5 of 17

流動性

截至2024年9月30日，總資產負債表和非資產負債表上的流動性達到了22.9億美元，相比之下，2024年6月30日爲22.2億美元，2023年9月30日爲21.8億美元。


主要流動性—資產負債表內	2024年9月30日			2024年6月30日			2024年3月31日			2023年12月31日			2023年9月30日
(以千美元計)
現金及現金等價物	$	167,869		$	97,237		$	105,784		$	96,594		$	77,617
可供出售證券		664,715			601,057			633,282			604,104			553,076
質押證券減少		(146,144)			(169,095)			(169,479)			(170,727)			(164,277)
主要流動性總額	$	686,440		$	529,199		$	569,587		$	529,971		$	466,416
主要流動性與總存款比率		18.3	%		13.9	%		15.0	%		14.3	%		12.7	%

二級流動性—資產負債表以外的借款能力
與聯邦住房貸款銀行的淨擔保借貸能力	$	509,223		$	451,171		$	446,801		$	498,736		$	516,501
與聯儲局銀行的淨擔保借款能力		867,955			1,015,873			1,006,010			979,448			1,022,128
與對應的貸款人的無擔保借款能力		200,000			200,000			200,000			200,000			150,000
與對應的貸款人的有擔保借款能力		26,250			26,250			26,250			26,250			26,250
二級流動性總額	$	1,603,428		$	1,693,294		$	1,679,061		$	1,704,434		$	1,714,879
主要和次要流動性合計	$	2,289,868		$	2,222,493		$	2,248,648		$	2,234,405		$	2,181,295
主要與次要流動性與總存款比率		61.1	%		58.4	%		59.1	%		60.2	%		59.3	%

資產質量

由於公司審慎的風險選擇、穩定的承保標準、積極的信貸監督和經驗豐富的貸款和信貸團隊，整體資產質量保持出色。

●

2024年第三季度，按年化計算，個人貸款淨覈銷率爲0.10%，而2024年第二季度爲0.00%，2023年第三季度爲0.01%。淨覈銷率上升主要是由於一箇中央商業區辦事處貸款。

●

截至2024年9月30日，公司的不良資產，包括不應計貸款、逾期90天仍計息的貸款和查封資產，爲880萬美元，佔總資產的0.19%，相比之下，2024年6月30日爲678,000美元，佔總資產的0.01%，2023年9月30日爲749,000美元，佔總資產的0.02%。不良資產增加主要是因爲先前被定爲次級風險評級的一箇中央商業區辦事處貸款。

●

2024年9月30日，具有潛在風險應列入自選風險評級的貸款總額爲3200萬美元，較2024年6月30日的3040萬美元和2023年9月30日的2690萬美元有所增加。

●

2024年9月30日，應列爲次級風險評級的貸款總額爲3160萬美元，而2024年6月30日爲3390萬美元，2023年9月30日爲3560萬美元。

資本

2024年9月30日的股東權益總額爲45220萬美元，較2024年6月30日的43920萬美元增加了1300萬美元，增幅爲3.0%，較2023年9月30日的41600萬美元增加了3620萬美元，增幅爲8.7%。

●

相比於2024年6月30日的股東權益總額爲43920萬美元，這一季度的增長主要是由於保留的淨收入和證券投資組合中未實現損失的減少，部分抵消了衍生產品投資組合中未實現收益的減少以及優先股股息的減少。

●

同比增長是由於留存的淨利潤增加以及證券投資組合未實現損失部分減少，部分抵消了減少的衍生品投資組合未實現收益減少、優先股股利和股票回購。

●

公共股一級風險資本比率於2024年9月30日達到9.79%，較2024年6月30日的9.41%和2023年9月30日的9.07%。

●

有形普通股佔有形資產的比率，一項非通用會計原則財務指標，於2024年9月30日爲8.17%，較2024年6月30日的7.90%和2023年9月30日的7.61%。

每股有形賬面價值，一項非通用會計準則財務指標，截至2024年9月30日爲13.96美元，同比增長12.8%，自2024年6月30日的13.53美元增長了12.8%，自2023年9月30日的12.37美元增長了12.8%。

●

公司已連續31個季度提高每股有形賬面價值。

公司在2024年第三季度沒有回購任何普通股。

●

公司在當前的回購授權下還剩1530萬美元。

第17頁，共17頁

Today, the Company also announced that its Board of Directors has declared a quarterly cash dividend on its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A (Series A Preferred Stock). The quarterly cash dividend of $36.72 per share, equivalent to $0.3672 per depositary share, each representing a 1/100th interest in a share of the Series A Preferred Stock (Nasdaq: BWBBP), is payable on December 2, 2024 to shareholders of record of the Series A Preferred Stock at the close of business on November 15, 2024.

Conference Call and Webcast

The Company will host a conference call to discuss its third quarter 2024 financial results on Thursday, October 24, 2024 at 8:00 a.m. Central Time. The conference call can be accessed by dialing 844-481-2913 and requesting to join the Bridgewater Bancshares earnings call. To listen to a replay of the conference call via phone, please dial 877-344-7529 and enter access code 1933700. The replay will be available through October 31, 2024. The conference call will also be available via a live webcast on the Investor Relations section of the Company’s website, investors.bridgewaterbankmn.com, and archived for replay.

About the Company

Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company. Bridgewater's banking subsidiary, Bridgewater Bank, is a premier, full-service Twin Cities bank dedicated to serving the diverse needs of commercial real estate investors, entrepreneurs, business clients and successful individuals. By pairing a range of deposit, lending, and treasury management solutions with a responsive service model, Bridgewater has seen continuous growth and profitability. With total assets of $4.7 billion and seven branches as of September 30, 2024, Bridgewater is considered one of the largest locally led banks in the State of Minnesota, and has received numerous awards for its growth, banking services, and esteemed corporate culture.

Use of Non-GAAP financial measures

In addition to the results presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company routinely supplements its evaluation with an analysis of certain non-GAAP financial measures. The Company believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors to help them understand the Company’s operating performance and trends, and to facilitate comparisons with the performance of peers. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of non-GAAP disclosures used in this earnings release to the comparable GAAP measures are provided in the accompanying tables.

Forward-Looking Statements

This earnings release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, identified by words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized”, “target” and “outlook”, or the negative version of those words or other comparable words of a future or forward-looking nature.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: interest rate risk, including the effects of changes in interest rates; fluctuations in the values of the securities held in our securities portfolio, including as the result of changes in interest rates; business and economic conditions generally and in the financial services industry, nationally and within our market area, including the level and impact of inflation and possible recession; the effects of developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in recent bank failures; loan concentrations in our portfolio; the overall health of the local and national real estate market; our ability to successfully manage credit risk; our ability to maintain an adequate level of allowance for credit losses on loans; new or revised accounting standards; the concentration of large loans to certain borrowers; the concentration of large deposits from certain clients, including those who have balances above current FDIC insurance limits; our ability to successfully manage liquidity risk, which may increase our dependence on non-core funding sources such as brokered deposits, and negatively impact our cost of funds; our ability to raise additional capital to implement our business plan; our ability to implement our growth strategy and manage costs effectively; the composition of our senior leadership team and our ability to attract and retain key personnel; talent and labor shortages and employee turnover; the occurrence of fraudulent activity, breaches or

Page 7 of 17

failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools; interruptions involving our information technology and telecommunications systems or third-party servicers; competition in the financial services industry, including from nonbank competitors such as credit unions and “fintech” companies; the effectiveness of our risk management framework; the commencement and outcome of litigation and other legal proceedings and regulatory actions against us; the impact of recent and future legislative and regulatory changes, including in response to recent bank failures; risks related to climate change and the negative impact it may have on our customers and their businesses; the imposition of other governmental policies impacting the value of products produced by our commercial borrowers; severe weather, natural disasters, wide spread disease or pandemics, acts of war or terrorism or other adverse external events, including the ongoing conflict in the Middle East and the Russian invasion of Ukraine; potential impairment to the goodwill the Company recorded in connection with acquisitions; risks associated with our ongoing acquisition of First Minnetonka City Bank, including the possibility that the merger may be more difficult or expensive to accomplish than anticipated, diversion of management's attention from daily operations and the effect of the proposed merger on the Company’s customer and employee relationships and operating results; changes to U.S. or state tax laws, regulations and guidance; potential changes in federal policy and at regulatory agencies as a result of the upcoming 2024 presidential election; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Page 8 of 17

Bridgewater Bancshares, Inc. and Subsidiaries
Financial Highlights

(dollars in thousands, except share data)


	As of and for the Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollars in thousands)	2024			2024			2024			2023			2023
		(Unaudited)			(Unaudited)			(Unaudited)						(Unaudited)
Income Statement
Net Interest Income	$	25,599		$	24,996		$	24,631		$	25,314		$	25,421
Provision for (Recovery of) Credit Losses		—			600			750			(250)			(600)
Noninterest Income		1,522			1,763			1,550			1,409			1,726
Noninterest Expense		15,760			15,539			15,189			15,740			15,237
Net Income		8,675			8,115			7,831			8,873			9,629
Net Income Available to Common Shareholders		7,662			7,101			6,818			7,859			8,616

Per Common Share Data
Basic Earnings Per Share	$	0.28		$	0.26		$	0.25		$	0.28		$	0.31
Diluted Earnings Per Share		0.27			0.26			0.24			0.28			0.30
Book Value Per Share		14.06			13.63			13.30			12.94			12.47
Tangible Book Value Per Share ⁽¹⁾		13.96			13.53			13.20			12.84			12.37
Basic Weighted Average Shares Outstanding		27,382,798			27,386,713			27,691,401			27,870,430			27,943,409
Diluted Weighted Average Shares Outstanding		27,904,910			27,748,184			28,089,805			28,238,056			28,311,778
Shares Outstanding at Period End		27,425,690			27,348,049			27,589,827			27,748,965			28,015,505

Financial Ratios
Return on Average Assets ⁽²⁾		0.73	%		0.70	%		0.69	%		0.77	%		0.85	%
Pre-Provision Net Revenue Return on Average Assets ⁽¹⁾⁽²⁾		0.96			0.94			0.95			0.96			1.01
Return on Average Shareholders' Equity ⁽²⁾		7.79			7.49			7.35			8.43			9.23
Return on Average Tangible Common Equity ⁽¹⁾⁽²⁾		8.16			7.80			7.64			8.95			9.92
Net Interest Margin⁽³⁾		2.24			2.24			2.24			2.27			2.32
Core Net Interest Margin ⁽¹⁾⁽³⁾		2.16			2.17			2.18			2.21			2.24
Cost of Total Deposits		3.58			3.46			3.32			3.19			2.99
Cost of Funds		3.54			3.49			3.34			3.23			3.10
Efficiency Ratio⁽¹⁾		58.0			58.7			58.2			58.8			56.1
Noninterest Expense to Average Assets ⁽²⁾		1.33			1.35			1.33			1.37			1.34

Balance Sheet
Total Assets	$	4,691,517		$	4,687,035		$	4,723,109		$	4,611,990		$	4,557,070
Total Loans, Gross		3,685,590			3,800,385			3,784,205			3,724,282			3,722,271
Deposits		3,747,442			3,807,712			3,807,225			3,709,948			3,675,509
Total Shareholders' Equity		452,200			439,241			433,611			425,515			415,960
Loan to Deposit Ratio		98.3	%		99.8	%		99.4	%		100.4	%		101.3	%
Core Deposits to Total Deposits ⁽⁴⁾		71.5			67.9			69.3			68.7			70.3
Uninsured Deposits to Total Deposits		25.0			22.5			26.0			24.3			22.2

Asset Quality
Net Loan Charge-Offs to Average Loans⁽²⁾		0.10	%		0.00	%		0.00	%		0.01	%		0.01	%
Nonperforming Assets to Total Assets ⁽⁵⁾		0.19			0.01			0.01			0.02			0.02
Allowance for Credit Losses to Total Loans		1.38			1.37			1.36			1.36			1.36

Capital Ratios (Consolidated) ⁽⁶⁾
Tier 1 Leverage Ratio		9.75	%		9.66	%		9.66	%		9.57	%		9.62	%
Common Equity Tier 1 Risk-based Capital Ratio		9.79			9.41			9.21			9.16			9.07
Tier 1 Risk-based Capital Ratio		11.44			11.03			10.83			10.79			10.69
Total Risk-based Capital Ratio		14.62			14.16			14.00			13.97			13.88
Tangible Common Equity to Tangible Assets ⁽¹⁾		8.17			7.90			7.72			7.73			7.61

(1)	Represents a non-GAAP financial measure. See "Non-GAAP Financial Measures" for further details.

(2)	Annualized.

Page 9 of 17

(3)	Amounts calculated on a tax-equivalent basis using the statutory federal tax rate of 21%.

(4)	Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000.

(5)	Nonperforming assets are defined as nonaccrual loans plus 90 days past due and still accruing plus foreclosed assets.

(6)	Preliminary data. Current period subject to change prior to filings with applicable regulatory agencies.

Page 10 of 17

Bridgewater Bancshares, Inc. and Subsidiaries

Consolidated Balance Sheets

(dollars in thousands, except share data)


	September 30,		June 30,		March 31,		December 31,		September 30,
	2024		2024		2024		2023		2023
	(Unaudited)		(Unaudited)		(Unaudited)				(Unaudited)
Assets
Cash and Cash Equivalents	$	191,859	$	134,093	$	143,355	$	128,562	$	124,358
Bank-Owned Certificates of Deposit		—		—		—		—		1,225
Securities Available for Sale, at Fair Value		664,715		601,057		633,282		604,104		553,076
Loans, Net of Allowance for Credit Losses		3,628,867		3,742,222		3,726,502		3,667,215		3,664,464
Federal Home Loan Bank (FHLB) Stock, at Cost		18,626		15,844		17,195		17,097		17,056
Premises and Equipment, Net		47,777		47,902		48,299		48,886		49,331
Foreclosed Assets		434		—		20		—		—
Accrued Interest		16,750		16,944		16,696		16,697		15,182
Goodwill		2,626		2,626		2,626		2,626		2,626
Other Intangible Assets, Net		163		171		180		188		197
Bank-Owned Life Insurance		38,219		35,090		34,778		34,477		34,209
Other Assets		81,481		91,086		100,176		92,138		95,346
Total Assets	$	4,691,517	$	4,687,035	$	4,723,109	$	4,611,990	$	4,557,070

Liabilities and Equity
Liabilities
Deposits:
Noninterest Bearing	$	713,309	$	705,175	$	698,432	$	756,964	$	754,297
Interest Bearing		3,034,133		3,102,537		3,108,793		2,952,984		2,921,212
Total Deposits		3,747,442		3,807,712		3,807,225		3,709,948		3,675,509
Notes Payable		13,750		13,750		13,750		13,750		13,750
FHLB Advances		349,500		287,000		317,000		319,500		294,500
Subordinated Debentures, Net of Issuance Costs		79,574		79,479		79,383		79,288		79,192
Accrued Interest Payable		3,458		3,999		4,405		5,282		3,816
Other Liabilities		45,593		55,854		67,735		58,707		74,343
Total Liabilities		4,239,317		4,247,794		4,289,498		4,186,475		4,141,110

Shareholders' Equity
Preferred Stock- $0.01 par value; Authorized 10,000,000
Preferred Stock - Issued and Outstanding 27,600 Series A shares ($2,500 liquidation preference) at September 30, 2024 (unaudited), June 30, 2024 (unaudited), March 31, 2024 (unaudited), December 31, 2023, and September 30, 2023 (unaudited)		66,514		66,514		66,514		66,514		66,514
Common Stock- $0.01 par value; Authorized 75,000,000
Common Stock - Issued and Outstanding 27,425,690 at September 30, 2024 (unaudited), 27,348,049 at June 30, 2024 (unaudited), 27,589,827 at March 31, 2024 (unaudited), 27,748,965 at December 31, 2023 and 28,015,505 at September 30, 2023 (unaudited)		274		273		276		277		280
Additional Paid-In Capital		94,597		93,205		95,069		96,320		100,120
Retained Earnings		302,231		294,569		287,468		280,650		272,812
Accumulated Other Comprehensive Loss		(11,416)		(15,320)		(15,716)		(18,246)		(23,766)
Total Shareholders' Equity		452,200		439,241		433,611		425,515		415,960
Total Liabilities and Equity	$	4,691,517	$	4,687,035	$	4,723,109	$	4,611,990	$	4,557,070

Page 11 of 17

Bridgewater Bancshares, Inc. and Subsidiaries
Consolidated Statements of Income

(dollars in thousands, except per share data)

(Unaudited)


	Three Months Ended										Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
(dollars in thousands)	2024		2024		2024		2023		2023		2024		2023
Interest Income
Loans, Including Fees	$	51,895	$	51,385	$	49,581	$	49,727	$	48,999	$	152,861	$	141,675
Investment Securities		8,725		8,177		7,916		7,283		6,507		24,818		18,962
Other		2,407		1,316		1,172		1,543		1,303		4,895		3,165
Total Interest Income		63,027		60,878		58,669		58,553		56,809		182,574		163,802


Interest Expense
Deposits		34,187		31,618		30,190		29,448		27,225		95,995		66,597
Federal Funds Purchased		2		853		304		268		548		1,159		8,253
Notes Payable		296		296		295		299		296		887		844
FHLB Advances		1,942		2,125		2,258		2,220		2,316		6,325		5,269
Subordinated Debentures		1,001		990		991		1,004		1,003		2,982		2,979
Total Interest Expense		37,428		35,882		34,038		33,239		31,388		107,348		83,942

Net Interest Income		25,599		24,996		24,631		25,314		25,421		75,226		79,860
Provision for (Recovery of) Credit Losses		—		600		750		(250)		(600)		1,350		75

Net Interest Income After Provision for Credit Losses		25,599		24,396		23,881		25,564		26,021		73,876		79,785

Noninterest Income
Customer Service Fees		373		366		342		359		379		1,081		1,096
Net Gain (Loss) on Sales of Securities		(28)		320		93		(27)		—		385		(6)
Letter of Credit Fees		424		387		316		418		315		1,127		1,328
Debit Card Interchange Fees		152		155		141		152		150		448		443
Bank-Owned Life Insurance		352		312		301		268		252		965		724
FHLB Prepayment Income		—		—		—		—		493		—		792
Other Income		249		223		357		239		137		829		707
Total Noninterest Income		1,522		1,763		1,550		1,409		1,726		4,835		5,084

Noninterest Expense
Salaries and Employee Benefits		9,851		9,675		9,433		9,615		9,519		28,959		26,923
Occupancy and Equipment		1,069		1,092		1,057		1,062		1,101		3,218		3,385
FDIC Insurance Assessment		750		725		875		1,050		1,075		2,350		2,640
Data Processing		368		472		412		424		392		1,252		1,150
Professional and Consulting Fees		1,149		852		889		782		715		2,890		2,299
Derivative Collateral Fees		381		528		486		573		543		1,395		1,327
Information Technology and Telecommunications		840		812		796		812		683		2,448		2,077
Marketing and Advertising		367		317		322		324		222		1,006		805
Intangible Asset Amortization		9		8		9		9		9		26		91
Other Expense		976		1,058		910		1,089		978		2,944		2,883
Total Noninterest Expense		15,760		15,539		15,189		15,740		15,237		46,488		43,580

Income Before Income Taxes		11,361		10,620		10,242		11,233		12,510		32,223		41,289
Provision for Income Taxes		2,686		2,505		2,411		2,360		2,881		7,602		10,202
Net Income		8,675		8,115		7,831		8,873		9,629		24,621		31,087
Preferred Stock Dividends		(1,013)		(1,014)		(1,013)		(1,014)		(1,013)		(3,040)		(3,040)
Net Income Available to Common Shareholders	$	7,662	$	7,101	$	6,818	$	7,859	$	8,616	$	21,581	$	28,047

Earnings Per Share
Basic	$	0.28	$	0.26	$	0.25	$	0.28	$	0.31	$	0.79	$	1.01
Diluted		0.27		0.26		0.24		0.28		0.30		0.77		0.99

Page 12 of 17

Bridgewater Bancshares, Inc. and Subsidiaries
Analysis of Average Balances, Yields and Rates

(dollars in thousands, except per share data)

(Unaudited)


	For the Three Months Ended
	September 30, 2024						June 30, 2024						September 30, 2023
	Average		Interest		Yield/		Average		Interest		Yield/		Average		Interest		Yield/
(dollars in thousands)	Balance		& Fees		Rate		Balance		& Fees		Rate		Balance		& Fees		Rate
Interest Earning Assets:
Cash Investments	$	157,114	$	1,971	4.99	%	$	81,672	$	922	4.54	%	$	81,038	$	903	4.42	%
Investment Securities:
Taxable Investment Securities		668,429		8,406	5.00			641,469		7,861	4.93			565,008		6,234	4.38
Tax-Exempt Investment Securities⁽¹⁾		31,496		402	5.08			31,550		401	5.11			29,955		346	4.58
Total Investment Securities		699,925		8,808	5.01			673,019		8,262	4.94			594,963		6,580	4.39
Loans ⁽¹⁾⁽²⁾		3,721,654		52,118	5.57			3,771,768		51,592	5.50			3,722,594		49,326	5.26
Federal Home Loan Bank Stock		16,828		436	10.31			19,461		394	8.15			17,829		400	8.89
Total Interest Earning Assets		4,595,521		63,333	5.48	%		4,545,920		61,170	5.41	%		4,416,424		57,209	5.14	%
Noninterest Earning Assets		108,283						100,597						88,513
Total Assets	$	4,703,804					$	4,646,517					$	4,504,937
Interest Bearing Liabilities:
Deposits:
Interest Bearing Transaction Deposits	$	804,161	$	9,369	4.63	%	$	732,923	$	8,270	4.54	%	$	730,244	$	7,136	3.88	%
Savings and Money Market Deposits		939,665		10,262	4.34			914,397		9,459	4.16			874,612		8,089	3.67
Time Deposits		355,050		3,918	4.39			360,691		3,850	4.30			266,635		1,962	2.92
Brokered Deposits		989,712		10,638	4.28			976,467		10,039	4.13			985,276		10,038	4.04
Total Interest Bearing Deposits		3,088,588		34,187	4.40			2,984,478		31,618	4.26			2,856,767		27,225	3.78
Federal Funds Purchased		141		2	5.72			61,151		853	5.61			39,641		548	5.48
Notes Payable		13,750		296	8.58			13,750		296	8.64			13,750		296	8.58
FHLB Advances		309,120		1,942	2.50			306,396		2,125	2.79			275,261		2,316	3.34
Subordinated Debentures		79,519		1,001	5.01			79,424		990	5.02			79,137		1,003	5.03
Total Interest Bearing Liabilities		3,491,118		37,428	4.27	%		3,445,199		35,882	4.19	%		3,264,556		31,388	3.81	%
Noninterest Bearing Liabilities:
Noninterest Bearing Transaction Deposits		710,192						691,891						754,567
Other Noninterest Bearing Liabilities		59,417						73,842						71,767
Total Noninterest Bearing Liabilities		769,609						765,733						826,334
Shareholders' Equity		443,077						435,585						414,047
Total Liabilities and Shareholders' Equity	$	4,703,804					$	4,646,517					$	4,504,937
Net Interest Income / Interest Rate Spread				25,905	1.21	%				25,288	1.22	%				25,821	1.33	%
Net Interest Margin ⁽³⁾					2.24	%					2.24	%					2.32	%
Taxable Equivalent Adjustment:
Tax-Exempt Investment Securities and Loans				(306)						(292)						(400)
Net Interest Income			$	25,599					$	24,996					$	25,421

(1)	Interest income and average rates for tax-exempt investment securities and loans are presented on a tax-equivalent basis, assuming a statutory federal income tax rate of 21%.

(2)	Average loan balances include nonaccrual loans. Interest income on loans includes amortization of deferred loan fees, net of deferred loan costs.

(3)	Net interest margin includes the tax equivalent adjustment and represents the annualized results of: (i) the difference between interest income on interest earning assets and the interest expense on interest bearing liabilities, divided by (ii) average interest earning assets for the period.

Page 13 of 17

Bridgewater Bancshares, Inc. and Subsidiaries
Analysis of Average Balances, Yields and Rates

(dollars in thousands, except per share data)

(Unaudited)


	For the Nine Months Ended
	September 30, 2024						September 30, 2023
	Average		Interest		Yield/		Average		Interest		Yield/
(dollars in thousands)	Balance		& Fees		Rate		Balance		& Fees		Rate
Interest Earning Assets:
Cash Investments	$	104,831	$	3,722	4.74	%	$	68,150	$	1,937	3.80	%
Investment Securities:
Taxable Investment Securities		649,538		23,867	4.91			569,097		18,192	4.27
Tax-Exempt Investment Securities⁽¹⁾		31,597		1,203	5.09			28,947		975	4.50
Total Investment Securities		681,135		25,070	4.92			598,044		19,167	4.29
Loans ⁽¹⁾⁽²⁾		3,740,855		153,568	5.48			3,690,196		142,659	5.17
Federal Home Loan Bank Stock		18,111		1,173	8.65			22,343		1,228	7.34
Total Interest Earning Assets		4,544,932		183,533	5.39	%		4,378,733		164,991	5.04	%
Noninterest Earning Assets		102,993						86,243
Total Assets	$	4,647,925					$	4,464,976
Interest Bearing Liabilities:
Deposits:
Interest Bearing Transaction Deposits	$	757,409	$	25,332	4.47	%	$	625,531	$	15,833	3.38	%
Savings and Money Market Deposits		917,051		28,502	4.15			926,494		21,636	3.12
Time Deposits		344,484		10,935	4.24			261,474		4,734	2.42
Brokered Deposits		993,445		31,226	4.20			876,130		24,394	3.72
Total Interest Bearing Deposits		3,012,389		95,995	4.26			2,689,629		66,597	3.31
Federal Funds Purchased		27,605		1,159	5.61			220,434		8,253	5.01
Notes Payable		13,750		887	8.62			13,750		844	8.21
FHLB Advances		311,380		6,325	2.71			215,938		5,269	3.26
Subordinated Debentures		79,424		2,982	5.02			79,042		2,979	5.04
Total Interest Bearing Liabilities		3,444,548		107,348	4.16	%		3,218,793		83,942	3.49	%
Noninterest Bearing Liabilities:
Noninterest Bearing Transaction Deposits		700,308						774,523
Other Noninterest Bearing Liabilities		67,405						63,646
Total Noninterest Bearing Liabilities		767,713						838,169
Shareholders' Equity		435,664						408,014
Total Liabilities and Shareholders' Equity	$	4,647,925					$	4,464,976
Net Interest Income / Interest Rate Spread				76,185	1.23	%				81,049	1.55	%
Net Interest Margin ⁽³⁾					2.24	%					2.47	%
Taxable Equivalent Adjustment:
Tax-Exempt Investment Securities and Loans				(959)						(1,189)
Net Interest Income			$	75,226					$	79,860

Page 14 of 17

布里奇沃特銀行股份有限公司及其子公司
資產質量概要

（以千元計的美元）

(未經審計)


	截至及結束於三個月的時間段															截至九個月結束時
	2021年9月30日			截至6月30日			3月31號，			運營租賃負債：			2021年9月30日			2021年9月30日			2021年9月30日
（以千美元爲單位）	2024			2024			2024			2023			2023			2024			2023
信用減值準備
期初餘額	$	51,949		$	51,347		$	50,494		$	50,585		$	50,701		$	50,494		$	47,996
Impact of Adopting CECL		—			—			—			—			—			—			650
信用損失準備金		—			600			850			—			—			1,450			2,050
覈銷		(937)			(10)			(2)			(95)			(122)			(949)			(129)
康復		6			12			5			4			6			23			18
淨撥備	$	(931)		$	2		$	3		$	(91)		$	(116)		$	(926)		$	(111)
期末餘額		51,018			51,949			51,347			50,494			50,585			51,018			50,585
信用損失準備金/全部貸款		1.38	%		1.37	%		1.36	%		1.36	%		1.36	%		1.38	%		1.36	%

	截至及結束於三個月的時間段															截至九個月結束時
	2021年9月30日			截至6月30日			3月31號，			運營租賃負債：			2021年9月30日			2021年9月30日			2021年9月30日
（以千美元爲單位）	2024			2024			2024			2023			2023			2024			2023
貸款信貸損失準備金	$	—		$	600		$	850		$	—		$	—		$	1,450		$	2,050
對錶外信貸敞口的信貸損失回收		—			—			(100)			(250)			(600)			(100)			(1,975)
信貸損失準備（回收）	$	—		$	600		$	750		$	(250)		$	(600)		$	1,350		$	75


	截至及結束於三個月的時間段
	2021年9月30日			截至6月30日			3月31號，			運營租賃負債：			2021年9月30日
（以千美元爲單位）	2024			2024			2024			2023			2023
已選擇的資產質量數據
逾期30-89天的貸款	$	65		$	502		$	—		$	15,110		$	11
逾期30-89天的貸款佔總貸款比例		0.00	%		0.01	%		0.00	%		0.41	%		0.00	%
不良貸款	$	8,378		$	678		$	249		$	919		$	749
不良貸款佔總貸款比例		0.23	%		0.02	%		0.01	%		0.02	%		0.02	%
不計提應計貸款佔總貸款比例		0.23			0.02			0.01			0.02			0.02
非應計貸款和逾期90天但仍在計提利息的貸款佔總貸款比例		0.23			0.02			0.01			0.02			0.02
被取消抵押品資產	$	434		$	—		$	20		$	—		$	—
不良資產⁽¹⁾		8,812			678			269			919			749
不良資產佔總資產比例 ⁽¹⁾		0.19	%		0.01	%		0.01	%		0.02	%		0.02	%
年化淨貸款覈銷額佔平均貸款比例		0.10			0.00			0.00			0.01			0.01
自選風險評級貸款	$	31,991		$	30,436		$	21,624		$	26,485		$	26,877
次標準風險評級貸款		31,637			33,908			33,829			35,858			35,621

(1)	不良資產定義爲不應計貸款加上 90 天以上逾期仍計息加上公開拍賣資產。

第 15 頁，共 17 頁

Bridgewater Bancshares, Inc.及其子公司
非依照普遍公認會計准則的財務措施

（以千元計的美元）

(未經審計)


	三個月總計結束於															截至九個月結束的日期
	2021年9月30日			6月30日,			3月31日			12月31日			2021年9月30日			2021年9月30日			2021年9月30日
（以千美元爲單位）	2024			2024			2024			2023			2023			2024			2023

稅前淨營業收入
非利息收入	$	1,522		$	1,763		$	1,550		$	1,409		$	1,726		$	4,835		$	5,084
減：證券出售盈虧		28			(320)			(93)			27			—			(385)			6
Less: FHLb Advance Prepayment Income		—			—			—			—			(493)			—			(792)
總營業非利息收入		1,550			1,443			1,457			1,436			1,233			4,450			4,298
淨利息收益率收入:		25,599			24,996			24,631			25,314			25,421			75,226			79,860
淨營業收入	$	27,149		$	26,439		$	26,088		$	26,750		$	26,654		$	79,676		$	84,158

非利息費用	$	15,760		$	15,539		$	15,189		$	15,740		$	15,237		$	46,488		$	43,580
Total Operating Noninterest Expense	$	15,760		$	15,539		$	15,189		$	15,740		$	15,237		$	46,488		$	43,580

稅前淨營業收入	$	11,389		$	10,900		$	10,899		$	11,010		$	11,417		$	33,188		$	40,578

額外收穫：
非經營性營業收入調整		(28)			320			93			(27)			493			385			786
減少：
信貸損失準備金（恢復）		—			600			750			(250)			(600)			1,350			75
所得稅規定		2,686			2,505			2,411			2,360			2,881			7,602			10,202
淨利潤	$	8,675		$	8,115		$	7,831		$	8,873		$	9,629		$	24,621		$	31,087

平均資產	$	4,703,804		$	4,646,517		$	4,592,838		$	4,567,446		$	4,504,937		$	4,647,925		$	4,464,976
淨資產平均收益率		0.96	%		0.94	%		0.95	%		0.96	%		1.01	%		0.95	%		1.22	%

核心淨利息收益率
淨利息收益（稅當量基礎）	$	25,905		$	25,288		$	24,992		$	25,683		$	25,822		$	76,185		$	81,049
減少：貸款手續費		(968)			(767)			(608)			(751)			(914)			(2,342)			(2,853)
核心淨利息收益	$	24,937		$	24,521		$	24,384		$	24,932		$	24,908		$	73,843		$	78,196

平均利息收入資產	$	4,595,521		$	4,545,920		$	4,492,756		$	4,480,428		$	4,416,424		$	4,544,932		$	4,378,733
核心淨利息收益率		2.16	%		2.17	%		2.18	%		2.21	%		2.24	%		2.17	%		2.39	%

效率比率
非利息費用	$	15,760		$	15,539		$	15,189		$	15,740		$	15,237		$	46,488		$	43,580
減少：無形資產攤銷		(9)			(8)			(9)			(9)			(9)			(26)			(91)
調整後的非利息支出	$	15,751		$	15,531		$	15,180		$	15,731		$	15,228		$	46,462		$	43,489

淨利息收入	$	25,599		$	24,996		$	24,631		$	25,314		$	25,421		$	75,226		$	79,860
非利息收入		1,522			1,763			1,550			1,409			1,726			4,835			5,084
證券銷售收益（損失）減少		28			(320)			(93)			27			—			(385)			6
調整後營業收入	$	27,149		$	26,439		$	26,088		$	26,750		$	27,147		$	79,676		$	84,950
效率比率		58.0	%		58.7	%		58.2	%		58.8	%		56.1	%		58.3	%		51.2	%

第 16 頁，共 17 頁

布里奇沃特銀行股份有限公司及子公司

非依照普遍公認會計准則的財務措施

（以千元計的美元）

(未經審計)


	三個月總計結束於																截至九個月結束的日期
	2021年9月30日			6月30日,			3月31日			12月31日			2021年9月30日				2021年9月30日			2021年9月30日
（以千美元爲單位）	2024			2024			2024			2023			2023				2024			2023

有形公共股本和有形公共股本/有形資產
股東權益合計	$	452,200		$	439,241		$	433,611		$	425,515		$	415,960
減少：優先股		(66,514)			(66,514)			(66,514)			(66,514)			(66,514)
普通股東權益總額		385,686			372,727			367,097			359,001			349,446
減少：無形資產		(2,789)			(2,797)			(2,806)			(2,814)			(2,823)
有形普通股權	$	382,897		$	369,930		$	364,291		$	356,187		$	346,623

總資產	$	4,691,517		$	4,687,035		$	4,723,109		$	4,611,990		$	4,557,070
減少：無形資產		(2,789)			(2,797)			(2,806)			(2,814)			(2,823)
有形資產	$	4,688,728		$	4,684,238		$	4,720,303		$	4,609,176		$	4,554,247
有形普通股權/有形資產		8.17	%		7.90	%		7.72	%		7.73	%		7.61	%

每股有形淨資產
每股普通股賬面價值	$	14.06		$	13.63		$	13.30		$	12.94		$	12.47
減少：無形資產的影響		(0.10)			(0.10)			(0.10)			(0.10)			(0.10)
每股有形資產淨值	$	13.96		$	13.53		$	13.20		$	12.84		$	12.37

平均有形普通股權益收益率
淨利潤歸屬於普通股股東	$	7,662		$	7,101		$	6,818		$	7,859		$	8,616		$	21,581		$	28,047

平均股東權益	$	443,077		$	435,585		$	428,248		$	417,789		$	414,047		$	435,664		$	408,014
減少：平均優先股		(66,514)			(66,514)			(66,514)			(66,514)			(66,514)			(66,514)			(66,514)
平均普通權益(平均資產淨值)		376,563			369,071			361,734			351,275			347,533			369,150			341,500
減少：平均無形資產效應		(2,794)			(2,802)			(2,811)			(2,819)			(2,828)			(2,802)			(2,856)
Average Tangible Common Equity	$	373,769		$	366,269		$	358,923		$	348,456		$	344,705		$	366,348		$	338,644
平均有形普通股權益收益率		8.16	%		7.80	%		7.64	%		8.95	%		9.92	%		7.87	%		11.07	%

第17頁