ST. LOUIS PARK, 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 Piper Sandler Sm-All Stars Class of 2020. Bridgewater is one of only 35 publicly traded banks and thrifts in the country – and the sole bank headquartered in Minnesota – to be recognized.
“The objective of the Sm-All Stars is to identify the top performing small-cap banks and thrifts in the country,” Piper Sandler announced. “In doing this, we hope to uncover the next crop of stellar mid-cap banks before they are discovered by the rest of the world.”
According to Piper Sandler, to earn Sm-All Star status, companies needed to have a market capitalization below $2.5 billion and clear numerous hurdles related to growth, profitability, credit quality and capital strength. More than 300 publicly traded banks and thrifts were evaluated to identify the 35 small-cap depository institutions that comprise the Class of 2020.
Since going public in 2018, Bridgewater Bancshares, Inc. has made the esteemed list twice, placing Bridgewater among the top-performing publicly traded banks nationwide.
“We are thrilled to be considered among the highest performing institutions nationwide,” says Chairman, President and CEO Jerry Baack. “Amidst this unprecedented operating environment, this honor reflects our team’s unwavering commitment to deliver value for both our shareholders and clients.”
About the Company
Bridgewater Bancshares, Inc. is a financial holding company headquartered in St. Louis Park, Minnesota. The Company has two wholly owned subsidiaries, Bridgewater Bank, a Minnesota-chartered commercial bank founded in November 2005, and Bridgewater Risk Management, Inc., a captive insurance company founded in December 2016. Bridgewater Bank has seven locations serving clients across the Minneapolis-St. Paul 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, 2020, the Company had total assets of approximately $2.75 billion, total loans of approximately $2.19 billion, total deposits of approximately $2.42 billion and total shareholders’ equity of approximately $257.2 million.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of Bridgewater. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks described in the “Risk Factors” sections of reports filed by Bridgewater with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.