**Bridgewater Bancshares Completes Acquisition of First Minnetonka City Bank****

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Bridgewater Bancshares, Inc. recently finalized the acquisition of First Minnetonka City Bank (FMCB) through its subsidiary, Bridgewater Bank. The merger, which was completed on December 13, 2024, solidifies Bridgewater Bank’s position as a wholly-owned subsidiary of Bridgewater Bancshares, Inc.

The acquisition marks a strategic move for Bridgewater Bancshares, Inc. The company issued a press release on December 16, 2024, confirming the completion of the merger. This transformative step aligns with Bridgewater’s strategic growth plans, especially within the Twin Cities community.

Expressing enthusiasm over the acquisition, Jerry Baack, Chairman, and Chief Executive Officer of Bridgewater, emphasized the value brought by the addition of FMCB’s team members and clients to Bridgewater. The merger not only enhances the range of products and services available but also opens up new avenues for continued growth within the Twin Cities market.

Following the acquisition, Bridgewater now boasts approximately $5.0 billion in total assets across nine full-service branches in the Twin Cities region. Financial advisory for the transaction was provided by D.A. Davidson & Co. for Bridgewater and Olsen Palmer LLC for FMCB, with legal counsel from Barack Ferrazzano Kirschbaum & Nagelberg LLP and Winthrop & Weinstine PA, respectively.

Founded in St. Louis Park, Minnesota, Bridgewater Bancshares, Inc. acts as a prominent financial holding company, with Bridgewater Bank serving as its primary banking subsidiary. The bank remains dedicated to addressing the diverse needs of commercial real estate investors, entrepreneurs, business clients, and individuals by offering a comprehensive suite of financial solutions.

This development indicates a significant milestone for Bridgewater as it enhances its position within the Minnesota banking landscape and underscores its commitment to exceptional service and community-focused banking.

The press release also contained forward-looking statements, stressing the importance of considering uncertainties and external factors that may impact Bridgewater’s future performance. It highlighted the challenges and opportunities that lie ahead as Bridgewater continues to navigate through the market disruptions and strategic growth initiatives.

For further information, the complete press release can be accessed via Exhibit 99.1 of the Form 8-K filing dated December 16, 2024.

This brings an end to the report on Bridgewater Bancshares’ recent acquisition of First Minnetonka City Bank and the press release issued in this regard.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bridgewater Bancshares’s 8K filing here.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.