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%,.