BLOOMINGTON, Minn.--(BUSINESS WIRE)--Bridgewater Bancshares, Inc. (“Bridgewater”) (Nasdaq: BWB), the parent company of Bridgewater Bank, is pleased to announce it has been named to the prestigious Sandler O’Neill Sm-All Stars Class of 2018. Bridgewater was one of 30 publicly traded banks and thrifts – and the only bank headquartered in Minnesota and the Upper Midwest – to be recognized.
According to Sandler O’Neill + Partners, L.P., an investment banking firm and broker-dealer focused on the financial services sector, to earn Sm-All Star status, companies need to have a market cap below $2.5 billion and clear numerous hurdles related to growth, profitability, credit quality and capital strength.
“We are thrilled to be considered amongst the highest performing institutions nationwide,” says Chief Financial Officer Joe Chybowski. “Several performance metrics are considered, and Bridgewater outperforms the median in almost every category, particularly loan growth and asset quality.”
This is the first year Bridgewater Bancshares, Inc. has made the esteemed list, placing the Bank among the top-performing publicly traded banks nationwide. More than 400 publicly traded banks and thrifts with a market capitalization below $2.5 billion were evaluated to identify the 30 small-cap depository institutions that comprise the Class of 2018.
“There’s no doubt our continued success and ability to achieve growth milestones is attributed to our team’s dedication,” says Chairman, President and CEO Jerry Baack. “We know how to use our talent to outrival any bank coast to coast.”
About Bridgewater Bancshares, Inc.
Bridgewater Bancshares, Inc. is the holding company for Bridgewater Bank, a full-service commercial bank formed in 2005 to serve the diverse needs of commercial real estate investors, small business entrepreneurs and high-net-worth individuals. Bridgewater Bank has seven locations serving clients across the Minneapolis-St. Paul-Bloomington metropolitan statistical area in Minnesota and offers a full array of simple, quality loan and deposit products, primarily for commercial clients. As of June 30, 2018, Bridgewater had total assets of approximately $1.8 billion, total loans of approximately $1.5 billion, total deposits of approximately $1.4 billion and total shareholders’ equity of approximately $205.9 million.
This press release and other statements made by Bridgewater and its management may from time to time contain “forward-looking statements” about Bridgewater’s financial condition, performance, projections, plans, strategies, business and operations. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to changes in general economic, business and political conditions, including changes in the financial markets, and other risks detailed in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and other sections of Bridgewater’s prospectus filed with the Securities and Exchange Commission on March 14, 2018. Potential investors should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and Bridgewater does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Source: Bridgewater Bancshares, Inc.