Bridgewater Bancshares Inc 2024年度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by theregistered public accounting firm that prepared or issued its audit report. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo Indicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). The aggregate market value of the Common Stock held by non-affiliates of the Registrant on June 30, 2024, based on theclosing price of $11.61 of such shares on that date, was $260,404,649. The number of shares of the Common Stock issued and outstanding as of February 17, 2025 was 27,596,315. Table of Contents PART I Item 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 1C. CybersecurityItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety Disclosures PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities48Item 6. [Reserved]51Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations51Item 7A. Quantitative and Qualitative Disclosures About Market Risk80Item 8. Financial Statements and Supplementary Data82Reports of Independent Registered Public Accounting Firm (CliftonLarsonAllen LLP, Auditor Firm ID: 655)82Reports of Independent Registered Public Accounting Firm (RSM US LLP, Auditor Firm ID: 49)83Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure139Item 9A. Controls and Procedures139Item 9B. Other Information140Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections140PART IIIItem 10. Directors, Executive Officers and Corporate Governance140Item 11. Executive Compensation140Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters141Item 13. Certain Relationships and Related Transactions, and Director Independence141Item 14. Principal Accountant Fees and Services142PART IVItem 15. Exhibits and Financial Statement Schedules142Item 16: Form 10-K Summary146Signatures147 Table of Contents Forward-Looking Statements This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of the safeharbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statementsinclude, without limitation, statements concerning plans, estimates, calculations, forecasts and projections withrespect to the anticipated future performance of the Company. These statements are often, but not always, identifiedby words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”,“anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized”, “target” and “outlook”, orthe negative version of those words or other comparable words of a future or forward-looking nature. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only onour 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