24.04.2024 - Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank (the Bank), today announced net income of $7.8 million for the first quarter of 2024, compared to $8.9 million for the fourth quarter of 2023, and $11.6 .
First Quarter 2024 Highlights
Tangible book value per share of $13.20 for the first quarter of 2024, an increase of $0.37, or 11.5% annualized, compared to $12.84 for the fourth quarter of.
Fourth Quarter 2023 Highlights
Deposit growth of $34.4 million, or 3.7% annualized, from the third quarter of 2023, exceeded gross loan growth which remained relatively stable from the third.
Third Quarter 2023 Highlights
Annualized return on average assets of 0.85%, compared to 0.88% for the second quarter of 2023.
Annualized return on average shareholders’ equity of 9.23%,.
This morning I head to Dallas, Texas, where, if you ask Redfin, prices are up 5 percent for the year. Or Zillow will tell you prices are down 2 percent. Can’t we all agree on something? Certainly, we can all agree that inflation is simply too many dollars chasing too few goods. How about when too many houses are chasing too few insurance companies? No insurance company wants to be the last one standing. (Today’s “Mortgage Matters: The Weekly Roundup” at 11AM PT, 2PM ET, focuses on how LOs and brokers are dealing with the homeowners insurance nightmare.) In California, home to plenty of insurance companies dropping insuring homes, the Insurance Commissioner is an elected position. Ricardo Lara doesn’t want to lose his job, so doesn’t allow insurance companies to raise their premiums to compensate for risk. So, they drop out. “With the average premium priced over $1,400, some homeowners are opting to drop home insurance altogether. But thi