Bridgewater Bancshares, Inc. (BWB) Q3 FY2026 earnings

Reported results

• Net interest income increased $2.1 million to $40.7 million in Q3 2026 from $38.6 million in Q2 2026, a 21.5% annualized increase; Net interest margin (fully tax-equivalent basis) was 3.09%, up 2 basis points from Q2 2026.
• Pre-provision net revenue (non-GAAP) increased $2.9 million to $21.9 million in Q3 2026, a 60.4% annualized increase from Q2 2026; Efficiency ratio (non-GAAP) improved to 48.8% from 53.0% in Q2 2026.
• Gross loans increased $80.4 million to $4.51 billion in Q3 2026, a 7.2% annualized increase; Total deposits increased $126.8 million to $4.47 billion, a 11.6% annualized increase, with core deposits (non-GAAP) up $165.3 million (19.6% annualized).
• Nonperforming assets to total assets were 0.37% at September 30, 2026, down from 0.40% at June 30, 2026; Allowance for credit losses to total loans was 1.28%, down from 1.30%.
• Tangible book value per share (non-GAAP) was $16.33 at September 30, 2026, down 6.7% annualized from $16.61 at June 30, 2026; Common Equity Tier 1 Risk-Based Capital Ratio increased to 9.63% from 9.61%.
• Annualized net loan charge-offs as a percentage of average loans were 0.21% in Q3 2026, up from 0.04% in Q2 2026; Provision for credit losses was $2.8 million in Q3 2026 compared to $550,000 in Q2 2026.

Notes

The release contains multiple non-GAAP financial measures including pre-provision net revenue return on average assets, efficiency ratio, core net interest margin, core loan yield, tangible book value per share, tangible common equity to tangible assets, and adjusted earnings per share. Capital ratios marked as preliminary and subject to change. The company mentions intentional mix shift toward more variable-rate loans in prior years to better position for higher interest rate environment.

Price and volatility reaction

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-20 (8-K, Item 2.02). Read the original filing on sec.gov.