Bridgewater Bank
Bridgewater Bank (NASDAQ: BWB) is a Twin Cities-based commercial bank with $5.3B in assets serving entrepreneurs, commercial real estate developers, and affordable housing sponsors across nine branches plus digital channels, differentiated by local decision-making and LIHTC lending expertise.
- Company typePublic
- Founded2005
- HeadquartersBloomington, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Bridgewater Bank does
Bridgewater Bank (NASDAQ: BWB) is a full-service commercial bank headquartered in St. Louis Park, Minnesota, operating nine branches across the Twin Cities metropolitan area with $5.3 billion in total assets, $4.4 billion in loans, and $4.3 billion in deposits as of March 31, 2026. Founded in 2005 by Jerry Baack, the bank serves entrepreneurs, business owners, commercial real estate developers, affordable housing sponsors, professional services firms, and individuals, with a stated focus on locally led decision-making and relationship banking as an alternative to large national banks. Its primary verticals are commercial real estate, multifamily, affordable housing (including LIHTC bridge and permanent financing nationwide), and C&I lending, complemented by treasury management (ACH, wire, lockbox, remote deposit, fraud prevention), business and personal deposit products, and a mobile banking app. The bank generated TTM revenue of $281.8 million and net income of $46.1 million as of May 2026, with a Q1 2026 NIM of 2.99%, ROATCE of 15.13%, CET1 ratio of 9.53%, and nonperforming assets at 0.22% of total assets.
Bridgewater expanded materially through the 2024 acquisition of First Minnetonka City Bank (closed late 2024, integrated Q3 2025), which lifted pro-forma assets to approximately $4.9 billion. Revenue is primarily net interest income from the loan portfolio, with noninterest income from treasury management fees, deposit account charges, swap fees (a growing stream post-First Minnetonka), and investment advisory services. Pricing on commercial lending is quote-based and not publicly disclosed; consumer and business deposit accounts use tiered monthly subscription pricing. Distribution is a hybrid of nine physical branches and digital channels ('The Bridge' commercial platform, mobile app, online banking), supplemented by community-led acquisition through the BridgewatHER Network for women entrepreneurs and content marketing on CRE and entrepreneurship topics. The bank is publicly traded on NASDAQ under the ticker BWB, with Bridgewater Bancshares, Inc. as the holding company, and pursues strategic M&A as evidenced by a $50 million ATM equity offering launched in February 2026 with explicit acquisition optionality.
Bridgewater Bank firmographics
Firmographics- Name
- Bridgewater Bank
- Legal name
- Bridgewater Bank
- Website
- https://www.bridgewaterbankmn.com/
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Bridgewater Bank (NASDAQ: BWB) is a Twin Cities-based commercial bank with $5.3B in assets serving entrepreneurs, commercial real estate developers, and affordable housing sponsors across nine branches plus digital channels, differentiated by local decision-making and LIHTC lending expertise.
- Ownership category
- akta.pro rank
Bridgewater Bank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (52211), Credit Intermediation and Related Activities (522)
- SIC
- State Commercial Banks (6022), National Commercial Banks (6021)
- akta.pro primary industry
- CRE Bridge & Transitional Lending (FSALADAC)
- akta.pro secondary industry
- Bridge & Short-Term Real Estate Loan Intermediation (FSAEAEAG)
Keywords
Where Bridgewater Bank is headquartered
LocationHeadquarters
- HQ city
- Bloomington
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Bridgewater Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Net Interest Income: Interest income from loan portfolio (commercial real estate, multifamily, affordable housing, C&I loans) minus interest paid on deposits. Primary revenue driver representing majority of income.
- Noninterest Income: Fee income from treasury management services, deposit account fees, swap fees, investment advisory fees, and other banking service charges
- Swap Fee Income: Derivative swap fees from commercial lending relationships, a growing revenue stream especially from acquired First Minnetonka City Bank platform
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Entrepreneur Business Checking - $500 opening, $1,500 minimum balance, $12 monthly fee |
| Subscription | Monthly | Enterprise Business Checking - $5,000 opening, no minimum balance, $0.25 per item after 600 |
| Subscription | Monthly | Premier Business Checking - No minimum, $20 monthly fee, analyzed account |
| Subscription | Monthly | Business Money Market - $2,500 minimum, tiered interest rates |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Bridgewater Bank product offering
Product offeringCore offering
Bridgewater Bank is a Twin Cities-based commercial bank that provides commercial lending, commercial deposits, treasury management, and personal banking services to entrepreneurs, business owners, and individuals. Its primary revenue driver is net interest income from a loan portfolio concentrated in commercial real estate, multifamily, affordable housing, and C&I loans, supplemented by fee income from treasury management, deposit accounts, and swap fees.
Differentiator
Problem solved
Functional benefit
Products and services
- Entrepreneur Business Checking
- Enterprise Business Checking
- Premier Business Checking
- Business Money Market
- Commercial Lending
- Affordable Housing Lending
- Treasury Management Services
- The Bridge Commercial Digital Platform
- Mobile Banking App
- Banking for Women
- Professional Services Banking
- Personal Banking Services
- Cannabis Banking Program
Quantifiable outcome
- Second largest locally-led bank in Twin Cities market
- +4 more outcomes
Companies that use Bridgewater Bank
Customer profileNamed customers17 records
Segments6 records
Ideal customer profiles3 records
Bridgewater Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Bridgewater Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- TCM BankminorPartner for Bridgewater Bank branded credit cards; TCM Bank handles credit card processing and servicing while Bridgewater offers cards to clients.
Scale indicators15 records
Recent moves8 records
Expansion highlights6 records
Bridgewater Bank competitors and assessment
Company assessmentDirect peers
- Nicolet Bankshares: Green Bay, Wisconsin-based community bank with ~$5B+ in assets and a similar commercial banking focus on business owners, CRE, and specialty lending. Comparable in size, public market presence, and growth orientation to Bridgewater.
- Lakeland Financial Corporation: Indiana-based Lake City Bank holding company with ~$6B+ in assets. Long-tenured commercial banking model with strong culture, top-decile profitability, and CRE/business lending focus closely paralleling Bridgewater's positioning.
- First Business Financial Services: Wisconsin-based business banking specialist with ~$3B in assets. Focuses on commercial lending, treasury management, and business deposits in the upper Midwest, directly comparable to Bridgewater's commercial banking franchise.
- West Bancorporation: Iowa-based community bank with significant CRE and commercial lending exposure of similar scale. Comparable in portfolio mix, public-bank status, and Midwest commercial banking focus.
- Enterprise Financial Services Corp: Missouri-based commercial bank with similar CRE, multifamily, and C&I lending emphasis. Comparable size and growth profile to Bridgewater, with a similar relationship-based commercial banking approach.
- QCR Holdings: Multi-state Midwest community bank holding company (Illinois/Iowa/Missouri) with comparable asset size and a strong CRE and commercial banking focus. Demonstrates a similar acquisitive growth model in Midwest markets.
- Stock Yards Bancorp: Kentucky-based community commercial bank with comparable asset size, strong commercial banking orientation, and consistent profitability profile similar to Bridgewater's high-ROTCE model.
- Bremer Financial: Minnesota-headquartered private financial services company serving the Twin Cities and broader Upper Midwest. Direct local-market peer competing for the same entrepreneur and CRE customer base as Bridgewater.
- Northrim BanCorp: Alaska-based community bank with comparable size and a strong commercial banking franchise. Similar relationship-driven model serving business owners and CRE borrowers in its core market.
Broad incumbents
- Old National Bancorp: Indiana-based super-regional bank with ~$45B+ in assets following recent mergers. Provides broader commercial and consumer banking services across the Midwest and represents the larger-incumbent competitive set Bridgewater faces in the Twin Cities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Bridgewater Bank social profiles
Digital presenceBridgewater Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bridgewater Bank leadership team
Management profileNumber of profiles
Profiles20 records
Bridgewater Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bridgewater Bank funding detail
Funding detailFunding overview
Funding rounds6 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bridgewater Bank M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bridgewater Bank
What does Bridgewater Bank do?
Bridgewater Bank is a Twin Cities-based commercial bank that provides commercial lending, commercial deposits, treasury management, and personal banking services to entrepreneurs, business owners, and individuals. Its primary revenue driver is net interest income from a loan portfolio concentrated in commercial real estate, multifamily, affordable housing, and C&I loans, supplemented by fee income from treasury management, deposit accounts, and swap fees.
Is Bridgewater Bank a public or private company?
Bridgewater Bank is a public company. It is classified as public and is currently operating.
When was Bridgewater Bank founded?
Bridgewater Bank was founded in 2005. It employs 251 to 500 people.
Where is Bridgewater Bank based?
Bridgewater Bank is headquartered in Bloomington, United States, in the North America region.
How does Bridgewater Bank make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are noninterest Income and swap Fee Income.
Who are Bridgewater Bank's main competitors?
Direct peers on record are Nicolet Bankshares, Lakeland Financial Corporation, First Business Financial Services, West Bancorporation, Enterprise Financial Services Corp, QCR Holdings, Stock Yards Bancorp, Bremer Financial and Northrim BanCorp. Old National Bancorp is listed as a broad incumbent.
Does Bridgewater Bank have an API?
No public API is recorded for Bridgewater Bank.
What industry is Bridgewater Bank in?
Bridgewater Bank's product category is Commercial Banking. Its primary akta.pro industry code is FSALADAC, CRE Bridge & Transitional Lending, with a secondary code of FSAEAEAG, Bridge & Short-Term Real Estate Loan Intermediation. Its NAICS code is 52211 and its SIC code is 6022.