Filing Flows › Financials › Bridgewater Bancshares (BWB)
Bridgewater Bancshares (BWB) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Bridgewater Bancshares (BWB) Q3 2026 earnings results →
Q3 2026 Revenue up 20% year over year to $43.2M · 35¢ of every $1 of revenue kept as net profit · operating margin 44.3%
Bridgewater Bancshares made $43.2M in Q3 2026 (+20% Y/Y): Net interest income $40.7M, Noninterest income $2.6M. Operating margin 44.3%, net earnings $15.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $43.2M in Q3 2026, up 20% year over year and up 6% from the previous quarter. Net interest income was the largest line at 94% of revenue. Net interest income added $6.6M year over year (up 19%), 93% of the total change.
Operating profit was $19.1M, a 44.3% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 42% margin then. Total costs grew 14% against revenue growth of 20%. The fastest-growing cost line was Credit loss provision (+150%). Net earnings were $15.0M, up 30% year over year. The effective tax rate was 21.5%.
Operating cash flow was $46.0M (up 353% year over year), 306% of net earnings. Non-cash charges added back $631K of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $29.0M. Capital expenditures of $431K left free cash flow of $45.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $43.2M | +20% | 44.3% | $15.0M | $46.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Bridgewater Bancshares
Bridgewater Bancshares, Inc. (the “Company”) is a Minnesota corporation and financial holding company with one wholly-owned subsidiary: Bridgewater Bank (the “Bank”). The Bank has two wholly-owned subsidiaries: BWB Holdings, LLC, which was formed for the purpose of holding repossessed property; and Bridgewater Investment Management, Inc., which was formed for the purposes of holding certain municipal securities and engaging in municipal lending activities. The Bank has nine full-service offices located in Bloomington, Greenwood, Minneapolis (2), Minnetonka, Orono, Lake Elmo, St. Louis Park, and St. Paul, Minnesota. The Lake Elmo branch opened in February 2026.
In its own words, from its 10-K, filed Feb 26, 2026.
Bridgewater Bancshares against its State Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +12%. Operating margin: 44.3% against the peers' median 34.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BWB Bridgewater Bancshares | Q3 2026 | $43.2M | +20% | 44.3% |
| BNY Bank of New York Mellon | Q3 2026 | $5.7B | +12% | 38.5% |
| STT State Street | Q3 2026 | $4.0B | +13% | 34.7% |
| FITB Fifth Third Bancorp | Q3 2026 | $3.3B | +42% | 33.8% |
| MTB M&T Bank | Q3 2026 | $2.5B | +0.9% | 39.7% |
| FCNCA First Citizens Bancshares | Q3 2026 | $2.4B | 0% | 33.1% |
| ALLY Ally Financial | Q3 2026 | $2.3B | +8% | 24.3% |
| CFG Citizens Financial Group | Q3 2026 | $2.3B | +10% | 34.6% |
| NTRS Northern Trust | Q3 2026 | $2.3B | +13% | 34.7% |
Source: Bridgewater Bancshares 10-Q on SEC EDGAR · CIK 1341317 · State Commercial Banks
13F: who owns BWB and who is buying
More on BWB
History
Every quarter: Q3 2026 results