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Bridgewater Bank

Saint Louis Park, MN · Cert 58210 · Bridgewater Bancshares Inc.

State charter, non-member · FDIC · 10 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets (n=322 to 328). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

55

Q2 2024Q2 2026peer median (50)

Asset Quality

51

Q2 2024Q2 2026peer median (50)

Profitability

42

Q2 2024Q2 2026peer median (50)

Liquidity

1

Q2 2024Q2 2026peer median

Efficiency

75

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Bridgewater Bank

Saint Louis Park, MN · Cert 58210 · Bridgewater Bancshares Inc.

State charter, non-member · FDIC · 10 branches

Q2 2026

$5.4BAssets
$4.4BLoans
$4.4BDeposits
$631.1MEquity
Loan mix
86%RE $3.6B14%C&I $0.6B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
81%Interest-bearing $3.5B19%Noninterest $0.8BQ2 2025Q2 2026

NIM

5.11%Q2 ’245.21%Q2 ’255.38%Q2 ’26+13%+18%

Non-interest income vs. expense

1.28%Q2 ’241.40%Q2 ’251.63%Q2 ’26+4%+21%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 1.7% share · #9 of 125 inst. · $4.4B of $253.2B

2.9% Hennepin
0.3% Ramsey
0.1% Washington

Executive Summary

  • Earnings: ROA of 1.30%, up 38 bps year over year; NIM at 2.98%.
  • Asset quality: problem loans at 0.49% of loans (+25 bps YoY), with net charge-offs at 0.04%.
  • Capital: tier 1 leverage ratio of 11.65%, up 106 bps from a year ago.
  • Funding: loans stand at 101.32% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.30%+38 bps YoY

Net Interest Margin (YTD, annualized)

2.98%+46 bps YoY

Efficiency Ratio (YTD, annualized)

51.09%+28 bps YoY

Tier 1 Leverage Ratio

11.65%+106 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.92%0.95%0.99%1.42%1.30%+38 bps
Return on Equity8.78%9.02%9.35%12.68%11.37%+258 bps
Net Interest Margin2.53%2.51%2.56%2.94%2.98%+46 bps
Efficiency Ratio50.81%50.73%50.02%52.62%51.09%+28 bps
Non-Interest Burden1.20%1.20%1.20%1.48%1.45%+25 bps
Growth
Asset Growth (YoY)12.99%14.23%6.73%3.83%1.68%-1,131 bps
Loan Growth (YoY)9.07%14.30%11.36%8.64%6.76%-231 bps
Deposit Growth (YoY)11.93%14.55%5.78%3.52%1.91%-1,002 bps
Asset Quality
Nonperforming Loans / Loans0.24%0.24%0.51%0.27%0.49%+25 bps
Net Charge-Offs / Loans0.00%0.01%0.03%0.05%0.04%+4 bps
Allowance / Loans1.35%1.34%1.31%1.31%1.30%-5 bps
Allowance Coverage of NPLs5.5x5.6x2.6x4.9x2.7x-2.9x
Capital
Tier 1 Leverage Ratio10.58%10.43%10.65%11.45%11.65%+106 bps
Total Risk-Based Capital13.41%13.43%13.49%13.92%13.98%+57 bps
Equity / Assets10.39%10.71%11.02%11.44%11.73%+134 bps
Liquidity & Funding
Loans / Deposits96.72%97.40%99.02%100.77%101.32%+460 bps
Liquid Assets / Assets3.71%2.12%1.96%3.88%2.85%-86 bps
CRE / Total Capitaln/a541%535%520%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Bridgewater Bank

Saint Louis Park, MN · Cert 58210 · Peer group: banks $1B-$10B in assets (n=322-328) · Bridgewater Bancshares Inc.

State charter, non-member · FDIC · 10 branches

Q2 2026

$5.4BAssets
$4.4BLoans
$4.4BDeposits
$631.1MEquity

Executive Summary

  • Strongest standing: efficiency ratio outperforms 75% of banks $1B-$10B in assets (rank 84 of 328).
  • Widest gap: net interest margin trails 77% of banks $1B-$10B in assets (rank 253 of 328).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

1.29%

Rank 135 of 328

Net Interest Margin

2.98%

Rank 253 of 328

Efficiency Ratio

51.63%

Rank 84 of 328

Equity / Assets

11.73%

Rank 92 of 328

Non-interest income vs. expense

$9.3M$86.3MINCOMEEXPENSE
Unfavorable gap of $77.0M · efficiency ratio beats 75% of banks $1B-$10B in assets
Bank 51.63%Peer median 59.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.29%0.91%1.22%1.52%Beats 59%135 / 328
Return on Equity11.02%8.43%11.45%14.43%Beats 45%180 / 328
Net Interest Margin2.98%3.03%3.45%3.83%Beats 23%253 / 328
Efficiency Ratio51.63%51.61%59.56%67.53%Beats 75%84 / 328
Asset Quality
Nonperforming Loans / Loans0.49%0.24%0.51%1.03%Beats 52%156 / 322
Net Charge-Offs / Loans0.03%0.01%0.03%0.10%Beats 50%161 / 322
Capital
Tier 1 Capital Ratio12.73%11.75%13.15%15.47%Beats 44%183 / 328
Total Risk-Based Capital Ratio13.98%12.63%14.15%16.46%Beats 48%171 / 328
Equity / Assets11.73%9.15%10.33%12.01%Beats 72%92 / 328
Liquidity & Funding
Loans / Deposits101.32%76.63%87.92%95.36%89th pctl35 / 323
Loans / Assets82.15%65.18%74.15%79.98%82nd pctl59 / 328
Brokered Deposits / Depositsn/aNot reported for this institution