Bridgewater Bank in Bloomington, Minnesota (MN)
| Bridgewater Bank | |
|---|---|
| General | FDIC Certificate #: 58210 Status: Active Federal Reserve ID: 3378773 Bank Holding Company (Regulatory Top Holder): Bridgewater Bancshares, Inc. (RSSDID: 3378764, Location: Bloomington, MN) Date Established: November 02, 2005 WWW: http://www.bridgewaterbankmn.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 442260 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: November 02, 2005 Last Structure Change Effective Date: January 25, 2008 Last Structure Change Process Date: January 28, 2008 Last Data Update: January 28, 2008 Data Source Date: April 05, 2012 |
| Location | Address: 3800 American Boulevard West, Suite 100, Bloomington, MN 55431 County: Hennepin Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Minneapolis-St. Paul, MN-WI (#5120) Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Minneapolis-St. Paul-Bloomington, MN-WI (#33460) CBSA Metro Statistical Area: Minneapolis-St. Paul-Bloomington, MN-WI (#33460) |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $410.3 mil Equity capital: $34.7 mil Deposits held in domestic offices: $374.9 mil Return on assets (ROA): 0.70% ($2.9 mil) Quarterly return on assets: 0.55% ($2.3 mil) Return on Equity (ROE): 7.94% ($2.8 mil) Quarterly return on equity: 6.36% ($2.2 mil) Net income: $2.6 mil Quarterly Net income: $0.5 mil Pretax return on assets: 1.24% ($5,087.5 mil) Quarterly Pretax return on assets: 0.99% ($4,061.8 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 28 |
| Total assets | $410,279 |
| Cash and due from depository institutions | $56,389 |
| Interest-bearing balances | $55,869 |
| Securities | $21,183 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $321,184 |
| Loan loss allowance | $7,187 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $406 |
| Other real estate owned | $5,823 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,294 |
| Life insurance assets | $410,279 |
| Total liabilities and capital | $375,562 |
| Total liabilities | $374,893 |
| Total deposits | $340,311 |
| Interest-bearing deposits | $374,893 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $669 |
| All other liabilities | $34,717 |
| Total equity capital | $34,717 |
| Total bank equity capital | $34,717 |
| Perpetual preferred stock | $0 |
| Common stock | $100 |
| Surplus | $27,009 |
| Undivided profits | $7,608 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $4,965 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,331 |
| Average Assets, year-to-date | $398,236 |
| Average Assets, quarterly | $30,413 |
| Volatile liabilities | $374,974 |
| Insider loans | $397,258 |
| FHLB advances | $327,484 |
| Loans and leases held for sale | $389,327 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $34,481 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $33,320 |
| Derivatives | $5,162 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $21,016 |
| Total interest expense | $4,971 |
| Net interest income | $16,045 |
| Provision for loan and lease losses | $5,800 |
| Total noninterest income | $326 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $161 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $165 |
| Total noninterest expense | $5,937 |
| Salaries and employee benefits | $2,667 |
| Premises and equipment expense | $586 |
| Additional noninterest expense | $2,684 |
| Pre-tax net operating income | $4,634 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $1,991 |
| Income before extraordinary items | $2,643 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,643 |
| Net charge-offs | $0 |
| Cash dividends | $2,643 |
| Sale, conversion, retirement of capital stock, net | $4,762 |
| Net operating income | $500 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.85% |
| Cost of funding earning assets | 1.38% |
| Net interest margin | 4.46% |
| Noninterest income to earning assets | 0.09% |
| Noninterest expense to earning assets | 1.65% |
| Net operating income to assets | 0.70% |
| Return on assets (ROA) | 0.70% |
| Pretax return on assets | 1.24% |
| Return on equity (ROE) | 7.94% |
| Retained earnings to average equity (YTD only) | 6.44% |
| Net charge-offs to loans | 1.53% |
| Credit loss provision to net charge-offs | 121.80% |
| Efficiency ratio | 2.19% |
| Assets per employee | $36,265 |
| Cash dividends to net income (YTD only) | 14.65% |
| Condition Ratios (%) | |
| Loss allowance to loans | 18.92% |
| Loss allowance to noncurrent loans | 2.19% |
| Noncurrent assets plus other real estate owned to assets | 144.75% |
| Noncurrent loans to loans | 2.63% |
| Net loans and leases to deposits | 1.51% |
| Net loans and leases to core deposits | 85.67% |
| Equity capital to assets | 99.95% |
| Core capital (leverage) ratio | 8.46% |
| Tier 1 risk-based capital ratio | 8.86% |
| Total risk-based capital ratio | 10.53% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $374,974 |
| Average equity | $33,279 |
| Average loans | $359,481 |
| 2 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 442260 | Bridgewater Bank | 3800 American Boulevard West, Suite 100, Bloomington, MN 55431 | November 02, 2005 | Full Service Brick and Mortar |  |
| 1 | 460597 | Greenwood Branch | 21500 Highway 7, Greenwood, MN 55331 | November 01, 2006 | Full Service Brick and Mortar |  |
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