Bridgewater Bancshares Q3 2025 Financial Results

By Ahmed Jameison • Wednesday, October 22 06:06 • Permanent Link

Bridgewater Bancshares, Inc. has reported its third-quarter financial results, showcasing several key highlights and changes compared to the previous period.

Net income for the third quarter of 2025 was $11.6 million, slightly up from $11.5 million in the second quarter of 2025 and significantly higher than the $8.7 million reported for the third quarter of 2024. Adjusted net income for the third quarter of 2025 was $12.0 million, compared to $11.3 million for the second quarter of 2025 and $8.9 million for the third quarter of 2024.

Net interest income saw a notable increase of $1.6 million, rising to $34.1 million in the third quarter of 2025 from $32.5 million in the second quarter of 2025. Additionally, the net interest margin reached 2.63% in the third quarter of 2025, a one basis point increase from the previous quarter and a 39 basis point increase from the third quarter of 2024.

Gross loans experienced a substantial increase of $68.8 million, or 6.6% annualized, from the second quarter of 2025, while total deposits grew by $56.0 million, or 5.2% annualized, from the second quarter of 2025.

The efficiency ratio for the third quarter of 2025 was reported at 54.7%, up from 52.6% for the second quarter of 2025, while the adjusted efficiency ratio was 53.2%, up from 51.5% for the second quarter of 2025.

Annualized net loan charge-offs as a percentage of average loans increased to 0.03% from 0.00% in the second quarter of 2025, and nonperforming assets to total assets remained stable at 0.19% at both September 30, 2025, and June 30, 2025.

Tangible book value per share for the third quarter of 2025 was reported at $14.93, marking a 20.0% annualized increase from the second quarter of 2025.

In terms of income, the company reported an effective combined federal and state income tax rate of 23.2% for the third quarter of 2025, slightly lower than the 23.9% reported for the second quarter of 2025.

As a result of these announcements, the company's shares have moved 2.48% on the market, and are now trading at a price of $17.39. For the full picture, make sure to review Bridgewater Bancshares Inc's 8-K report.

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