Q4 2025 Bridgewater Bancshares Inc Earnings Call Transcript
Key Points
- Bridgewater Bancshares Inc (BWB) reported robust loan and core deposit growth, with both increasing by 9% in the fourth quarter.
- Net interest margin expanded by 12 basis points to 2.75%, contributing to strong growth in net interest income.
- The company achieved a 16.5% annualized growth in tangible book value per share, reflecting strong shareholder value creation.
- Bridgewater Bancshares Inc (BWB) successfully integrated the First Minnetonka City Bank acquisition with minimal deposit attrition.
- The company is well-positioned to capitalize on M&A disruptions in the Twin Cities, enhancing client and talent acquisition opportunities.
- Nonperforming assets increased modestly to 0.41% of assets, driven by a multifamily loan that migrated to nonaccrual.
- Net charge-offs were recorded at $1.2 million during the quarter, related to a fully reserved C&I loan.
- The company anticipates less linear core deposit growth in 2026, with potential reliance on broker deposits.
- Swap fee income, while a part of the revenue story, is expected to slow due to the current yield curve environment.
- Increased competition in the Twin Cities has led to heightened pressure on loan spreads and deposit rates.
Good morning, and welcome to the Bridgewater Bancshares 2025 fourth-quarter earnings call. My name is Betsy, and I will be your conference operator today. (Operator Instructions) Please note that today's call is being recorded.
At this time, I would like to introduce Justin Horstman, Vice President of Investor Relations, to begin the conference call. Please go ahead.
Thank you, Betsy, and good morning, everyone. Joining me on today's call are Jerry Baack, Chairman and Chief Executive Officer; Joe Chybowski, President and Chief Financial Officer; Nick Place, Chief Banking Officer; and Katie Morrell, Chief Credit Officer.
In just a few moments, we will provide an overview of our 2025 fourth-quarter financial results. We will be referencing a slide presentation that is available on the investor relations section of Bridgewater's website, investors.bridgewaterbankmn.com. Following our opening remarks, we will open the call for questions.
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