Bridgewater Bancshares, Inc. (NASDAQ: BWB) has recently completed the acquisition of First Minnetonka City Bank (FMCB) as of December 13, 2024. With this acquisition, Bridgewater now boasts approximately $5.0 billion in total assets with nine full-service branches across the Twin Cities.
The acquisition is anticipated to align with and accelerate Bridgewater’s strategic priorities, including a focus on continued growth within the Twin Cities community. The company's chairman and CEO, Jerry Baack, expressed excitement in welcoming FMCB's team members and clients to Bridgewater, highlighting the potential for future success as they head into 2025.
D.A. Davidson & Co. served as the financial advisor, and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to Bridgewater during the acquisition. On the other hand, Olsen Palmer LLC served as the financial advisor, and Winthrop & Weinstine PA served as legal counsel to FMCB.
Bridgewater Bancshares, Inc. is a St. Louis Park, Minnesota-based financial holding company, and its 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. The company's total assets are approximately $5.0 billion, and it is considered one of the largest locally led banks in the state of Minnesota.
The completion of this acquisition marks a significant milestone for Bridgewater and sets the stage for potential growth and success in the Twin Cities community and beyond. Following these announcements, the company's shares moved 0.8%, and are now trading at a price of $15.19. For more information, read the company's full 8-K submission here.
