BWB earnings analysis
What we found in BWB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Bridgewater Bancshares reported strong first-quarter 2026 performance, with actual revenue of $46.211 million exceeding estimates by 23.03%, though EPS of $0.41 slightly missed the consensus of $0.42. The company's notable increase in revenue and net income highlights its growth momentum as interest income expands amid a stable operating environment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeded Estimates
- Q1 2026 revenue reached $46.211 million, up 39.4% from $33.152 million in Q1 2025.
- Solid EPS Growth
- Diluted EPS rose to $0.41, a 32.3% increase from $0.31 in Q1 2025.
- Gross Margin Improvement
- Gross margin increased to 47.56% from 44.88% in Q1 2025.
- Russell Investments
- Net income increased to $16.393 million, nearly doubling from $8.620 million a year earlier.
- Interest Income Growth
- Net interest income increased to $36.647 million, compared to $30.208 million in Q1 2025.
- Noninterest Income Surge
- Total noninterest income saw a significant rise to $9.564 million from $2.079 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Interest Rate Risk
- Potential fluctuations in interest rates could adversely impact net interest income, affecting profitability.
- Credit Risk Concerns
- The risk associated with the allowance for credit losses, which stood at $57.277 million, could lead to higher provisions if the economy deteriorates.
- Reliance on Non-Core Funding
- Increased dependence on brokered deposits could elevate costs and liquidity risks amidst shifting market conditions.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.41
- Gross margin
- 47.56%
What they said about what is next.
The 10-Q did not provide explicit numeric guidance, with the outlook depended on future market conditions.
The filing reads better than the one before it.
What came before.
- 10-K · February 26, 2026
- Bridgewater Bancshares reported continued organic growth in 2025 with total assets of $5.41 billion, gross loans of $4.31 billion and deposits of $4.32 billion as of December 31, 2025. Revenue increased to about $293.0…
- 10-Q · October 30, 2025
- Bridgewater Bancshares reported quarter-over-quarter and year-over-year revenue and earnings growth driven by higher net interest income and loan growth. Q3 2025 net revenue (net interest income plus noninterest income)…
- 10-Q · October 31, 2024
- Bridgewater reported quarter revenue of $27,121,000 (net interest income $25,599,000 + noninterest income $1,522,000), essentially flat vs prior year ($27,147,000). Diluted EPS was $0.27 (beat consensus $0.24), but net…
- 10-K · March 7, 2024
- Bridgewater Bancshares is a single-bank financial holding company focused on commercial real estate and multifamily lending in the Twin Cities MSA. As of December 31, 2023 the company reported $4.61 billion in total…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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