The significant beat and margin expansion are positive, but traders should monitor the sustainability of the securities gain and the use of the new ATM capital. The strong fundamentals suggest continued momentum, but the elevated noninterest expense and deposit outflow are minor concerns.
Price Chart
Executive Summary
Bridgewater Bancshares reported strong first quarter 2026 results with net income of $17.4 million ($0.58 diluted EPS), up from $13.3 million ($0.43) in Q4 2025, driven by a 24 basis point net interest margin expansion to 2.99% and a $7.3 million pre-tax gain from securities sales. The company also announced a new $50 million ATM offering and declared the preferred dividend.
Key Financial Metrics
Key Facts
- Net income of $17.4 million ($0.58 diluted EPS) vs. $13.3 million ($0.43) in Q4 2025
- Net interest margin expanded 24 bps to 2.99% (core NIM to 2.86%)
- Net interest income grew $960K to $36.6 million
- Noninterest income surged $6.4 million to $9.6 million, driven by $7.3M gain on securities sales
- Launched $50 million ATM offering for common stock
- Declared quarterly dividend of $0.3672 per depositary share on preferred stock
Financial Impact
Net income increased $4.1 million; securities sale generated $7.3M pre-tax gain
Risk Factors
- One-time nature of the $7.3M gain on securities sales
- Deposit outflow of $14.9 million and increased reliance on brokered deposits
- ATM offering could lead to dilution if shares are issued
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-046020 |
| Document: bwb-20260421xex99d2.htm | 0001104659-26-046020 |
| Document: bwb-20260421x8k.htm | 0001104659-26-046020 |
| Document: 0001104659-26-046020-index-headers.html | 0001104659-26-046020 |
| Document: 0001104659-26-046020-index.html | 0001104659-26-046020 |
| Document: 0001104659-26-046020.txt | 0001104659-26-046020 |
| 8-K Data (Synthetic) | 0001104659-26-046020 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 4, 2026 25w ago | 8-K | $19.88 $19.91 | ▲ +0.15% | ▼ −1.71% | $19.28 (−3.00%) |
Apr 21, 2026 26w ago | 8-K | $20.34 $20.12 | ▼ −1.06% | ▼ −5.84% | $19.28 (−5.17%) |
US Market Status
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