Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported net income of $15.0 million for the third quarter of 2026, a $1.0 million increase from the $14.0 million recorded in the prior quarter. Earnings per diluted common share were $0.49 for the period, compared to $0.45 in the second quarter of 2026.
The company reported a net interest margin of 3.09% on a fully tax-equivalent basis, a two basis point increase from the second quarter. Net interest income for the quarter totaled $40.7 million, an increase of $2.1 million from the previous quarter. Total assets stood at $5.62 billion as of September 30, 2026.
Bridgewater also highlighted growth in its balance sheet. Gross loans increased by $80.4 million, or 7.2% annualized, from the second quarter, while total deposits increased by $126.8 million, or 11.6% annualized. Core deposits, defined as total deposits less brokered deposits and certificates of deposit greater than $250,000, increased by $165.3 million, or 19.6% annualized.
In terms of efficiency, the company reported an efficiency ratio of 48.8%, down from 53.0% in the second quarter. The Common Equity Tier 1 Risk-Based Capital Ratio was reported at 9.63%.
The company announced that its Board of Directors had declared a quarterly cash dividend on its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. The dividend of $36.72 per share is payable on December 1, 2026, to shareholders of record on November 13, 2026.
