Bridgewater Bancshares Inc 2025年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark whether the registrant (1)hasfiled all reports required to befiled by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile such reports), and (2)hasbeen subject to suchfiling requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T (Section 232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, a smaller reportingcompany, or an emerging growth company. See the definitions of “large acceleratedfiler,” “acceleratedfiler”, “smaller reporting company” and“emerging growth company” in Rule12b-2 of the Exchange Act. Large acceleratedfiler☐Acceleratedfiler☒Non-acceleratedfiler☐Smallerreportingcompany☐Emerginggrowthcompany☐ Indicate by check mark whether the registrant hasfiled a report on and attestation to its management’s assessment of the effectivenessof its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccountingfirm that prepared or issued its audit report.☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether thefinancial statements of theregistrant included in thisfiling reflect the correction of an error to previously issuedfinancial statements.☐ Indicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-basedcompensation 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, 2025, based on the closing price of$15.91 of such shares on that date, was $348,524,730. Table of Contents PART I Item 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved StaffCommentsItem 1C. CybersecurityItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety Disclosures 4848PART IIItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities49Item 6. [Reserved]51Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations51Item 7A. Quantitative and Qualitative Disclosures About Market Risk78Item 8. Financial Statements and Supplementary Data80Reports of Independent Registered Public Accounting Firm(RSM US LLP, Auditor Firm ID: 49)80Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure145Item 9A. Controls and Procedures145Item 9B. Other Information146Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections146PART IIIItem 10. Directors, Executive Officers and Corporate Governance146Item 11. Executive Compensation146Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters147Item 13. Certain Relationships and Related Transactions, and Director Independence147Item 14. Principal Accountant Fees and Services148PART IVItem 15. Exhibits and Financial Statement Schedules148Item 16: Form 10-K Summary152Signatures153 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 projectionswith respect to the anticipated future performance of the Company. These statements are often, but notalways, identified by words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”,“expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”,“annualized”, “target” and “outlook”, or the negative version of those words or other comparable words of afuture or forward-looking nature. Forward-looking statements are neither historical facts nor assurances offuture performance. Instead, they are based only on our current beliefs, expectations and assumptionsregarding our business, future plans and strategies, projections, anticipated events and trends, the economyand other future conditions. Because forward-looking statements relate to the future, they are subject toinherent uncertainties, risks and changes in circumstances that are difficult to predict