Bridgewater Bancshares reports Q3 EPS 27c, consensus 24c

Reports tangible book value per share of $13.96 for Q4, an increase of $0.43, or 12.8% annualized, compared to $13.53 for Q2. The company said, “Bridgewater’s third quarter results were highlighted by robust core deposit growth and a stable net interest margin amid an improving interest rate backdrop following the Fed’s rate cut in September. As a result, we generated improved net interest income and pre-provision net revenue growth. Asset quality also remained a strength as we continued to see improving multifamily trends in the Twin Cities, such as declining vacancy rates.”