Bridgewater Bancshares, Inc. (BWB) Balance Sheet
BWB balance sheet, 2025
December 31, 2025 · U.S. dollars$5.41B assets = $4.89B liabilities + $517.1M equity
Both columns are drawn to the same scale: what BWB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BWB financial health
Descriptive bands, not a rating. Fiscal 2025.
BWB balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.26B2016 | $5.41B2025 | +17.6%/yr | |
| Total liabilities | $1.15B2016 | $4.89B2025 | +17.5%/yr | |
| Shareholders’ equity | $115.4M2016 | $517.1M2025 | +18.1%/yr | |
| Cash & short-term investments | $238.3M2016 | $449.7M2025 | +7.3%/yr | |
| Total debt | $116.0M2016 | $508.2M2025 | +17.8%/yr | |
| Net cash (debt) | $122.3M2016 | −$58.5M2025 | −$180.7M | |
| Working capital | −$825.9M2016 | −$3.85B2025 | −$3.0B | |
| Book value per share | $3.842016 | $18.052025 | +18.8%/yr | |
| Debt / equity | 1.012016 | 0.982025 | −0.02 | |
| Shares outstanding | 30.1M2016 | 28.7M2025 | −0.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BWB assets
BWB liabilities and equity
BWB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BWB balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $449.7M | $619.8M | $732.7M | $636.8M | $584.7M | $554.2M | $324.5M | $285.1M | $256.3M | $238.3M |
| Cash & equivalents | $123.5M | $234.1M | $128.6M | $88.2M | $145.3M | $163.5M | $34.6M | $31.7M | $26.8M | $21.2M |
| Short-term investments | $326.2M | $385.7M | $604.1M | $548.6M | $439.4M | $390.6M | $289.9M | $253.4M | $229.5M | $217.1M |
| Receivables | $18.9M | $62.0M | $16.7M | $13.5M | $9.2M | $9.2M | $6.8M | $6.6M | $5.3M | $4.0M |
| Inventory | $0 | $0 | $111.9M | −$101.7M | −$154.5M | −$172.7M | −$41.4M | $0 | $581,000 | $4.2M |
| Other current assets | $0 | $0 | $0 | $101.7M | $154.5M | $172.7M | $41.4M | $0 | $0 | $0 |
| Total current assets | $468.6M | $681.8M | $749.4M | $650.3M | $593.9M | $563.3M | $331.2M | $291.7M | $261.6M | $242.2M |
| Property, plant & equipment (net) | $51.6M | $49.5M | $48.9M | $48.4M | $49.4M | $51.0M | $27.6M | $13.1M | $10.1M | $9.6M |
| Goodwill & intangible assets | $18.9M | $19.8M | $2.8M | $2.9M | $3.1M | $3.3M | $3.5M | $3.7M | $3.9M | $4.1M |
| Long-term investments | $776.4M | $768.2M | $604.1M | $548.6M | $439.4M | $2.68B | $289.9M | $253.4M | $229.5M | $217.1M |
| Other non-current assets | $4.09B | $3.55B | $3.21B | $3.10B | $2.39B | $0 | $1.62B | $1.41B | $1.11B | $787.4M |
| Total assets | $5.41B | $5.07B | $4.61B | $4.35B | $3.48B | $2.93B | $2.27B | $1.97B | $1.62B | $1.26B |
| Liabilities | ||||||||||
| Accounts payable | $3.2M | $4.0M | $5.3M | $2.8M | $1.4M | $1.6M | $2.0M | $1.8M | $1.4M | $612,000 |
| Short-term debt | — | $13.8M | $233.6M | $287.0M | — | $15.0M | $12.0M | $18.0M | $23.0M | $44.0M |
| Deferred revenue | — | — | −$5.3M | — | — | −$9.4M | −$11.0M | −$13.2M | −$37.6M | −$43.4M |
| Total current liabilities | $4.32B | $4.09B | $3.72B | $3.71B | $2.95B | $2.50B | $1.83B | $1.58B | $1.36B | $1.07B |
| Long-term debt | $508.2M | $452.9M | $412.5M | $92.7M | $92.2M | $84.7M | $37.7M | $39.6M | $109.5M | $19.0M |
| Other long-term liabilities | $58.1M | $64.6M | $58.7M | $152.6M | $58.5M | $74.0M | $161.0M | $132.4M | $6.2M | $57.9M |
| Total liabilities | $4.89B | $4.61B | $4.19B | $3.95B | $3.10B | $2.66B | $2.02B | $1.75B | $1.48B | $1.15B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $278,000 | $276,000 | $277,000 | $278,000 | $282,000 | $281,000 | $290,000 | $301,000 | $246,000 | $245,000 |
| Retained earnings (deficit) | $351.5M | $309.4M | $280.6M | $248.7M | $199.3M | $154.8M | $127.6M | $96.2M | $69.5M | $52.6M |
| Accumulated other comprehensive income | $561,000 | −$13.4M | −$18.2M | −$17.9M | $9.0M | $6.6M | $4.8M | −$1.6M | $1.1M | −$3.3M |
| Total shareholders' equity | $517.1M | $457.9M | $425.5M | $394.1M | $379.3M | $265.4M | $244.8M | $221.0M | $137.2M | $115.4M |
| Key figures | ||||||||||
| Total debt | $508.2M | $452.9M | $412.5M | $476.7M | $134.7M | $142.2M | $174.2M | $181.6M | $132.5M | $116.0M |
| Net cash (debt) | −$58.5M | $166.9M | $320.1M | $160.2M | $450.0M | $411.9M | $150.2M | $103.5M | $123.8M | $122.3M |
| Working capital | −$3.85B | −$3.41B | −$2.97B | −$3.06B | −$2.35B | −$1.94B | −$1.49B | −$1.29B | −$1.10B | −$825.9M |
| Tangible book value | $498.2M | $438.1M | $422.7M | $391.1M | $376.2M | $262.1M | $241.3M | $217.3M | $133.3M | $111.3M |
| Book value per share | $18.05 | $16.39 | $15.03 | $13.75 | $13.09 | $9.10 | $8.16 | $7.51 | $4.72 | $3.84 |
| Shares outstanding | 28.7M | 27.9M | 28.3M | 28.7M | 29.0M | 29.2M | 30.0M | 29.4M | 29.1M | 30.1M |
| Current ratio | 0.11 | 0.17 | 0.20 | 0.18 | 0.20 | 0.23 | 0.18 | 0.18 | 0.19 | 0.23 |
| Quick ratio | 0.11 | 0.17 | 0.20 | 0.18 | 0.20 | 0.23 | 0.18 | 0.18 | 0.19 | 0.23 |
| Debt / equity | 0.98 | 0.99 | 0.97 | 1.21 | 0.36 | 0.54 | 0.71 | 0.82 | 0.97 | 1.01 |
| Equity / assets | 9.6% | 9.0% | 9.2% | 9.1% | 10.9% | 9.1% | 10.8% | 11.2% | 8.5% | 9.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $775.2M | $532.3M | $449.7M | $509.0M | $612.4M | $214.1M | $619.8M | $856.6M | $735.1M | $776.6M | $732.7M | $678.7M |
| Cash & equivalents | $169.8M | $222.2M | $123.5M | $135.5M | $221.4M | $170.3M | $234.1M | $191.9M | $134.1M | $143.4M | $128.6M | $125.6M |
| Short-term investments | $605.4M | $310.1M | $326.2M | $373.6M | $391.0M | $43.7M | $385.7M | $664.7M | $601.1M | $633.3M | $604.1M | $553.1M |
| Receivables | $16.9M | $15.8M | $18.9M | $62.4M | $62.5M | $61.7M | $62.0M | $16.8M | $16.9M | $16.7M | $16.7M | $15.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$151.0M | −$160.1M | $111.9M | −$155.9M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $151.0M | $160.1M | $0 | $155.9M |
| Total current assets | $792.2M | $548.1M | $468.6M | $571.5M | $674.9M | $275.7M | $681.8M | $873.3M | $752.1M | $793.3M | $749.4M | $693.8M |
| Property, plant & equipment (net) | $52.7M | $52.8M | $51.6M | $51.0M | $50.0M | $49.4M | $49.5M | $47.8M | $47.9M | $48.3M | $48.9M | $49.3M |
| Goodwill & intangible assets | $18.5M | $18.7M | $18.9M | $19.1M | $19.4M | $19.6M | $19.8M | $2.8M | $2.8M | $2.8M | $2.8M | $2.8M |
| Long-term investments | $605.4M | $566.6M | $776.4M | $826.5M | $743.9M | $764.6M | $768.2M | $664.7M | $601.1M | $633.3M | $604.1M | $553.1M |
| Other non-current assets | $3.92B | $4.15B | $4.09B | $3.89B | $3.81B | $4.03B | $3.55B | $3.10B | $3.28B | $3.25B | $3.21B | $3.26B |
| Total assets | $5.39B | $5.34B | $5.41B | $5.36B | $5.30B | $5.14B | $5.07B | $4.69B | $4.69B | $4.72B | $4.61B | $4.56B |
| Liabilities | ||||||||||||
| Accounts payable | $2.6M | $4.3M | $3.2M | $5.2M | $4.1M | $4.5M | $4.0M | $3.5M | $4.0M | $4.4M | $5.3M | $3.8M |
| Short-term debt | — | — | $320.0M | $320.5M | $334.2M | $263.0M | $13.8M | $13.8M | $229.2M | $256.8M | $233.6M | $208.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$4.0M | −$4.4M | −$5.3M | — |
| Total current liabilities | $4.35B | $4.31B | $4.32B | $4.62B | $4.58B | $4.43B | $4.09B | $3.75B | $3.81B | $3.81B | $3.72B | $3.68B |
| Long-term debt | $142.9M | $444.8M | $508.2M | $192.6M | $192.7M | $180.0M | $452.9M | $442.8M | $380.2M | $410.1M | $412.5M | $387.4M |
| Other long-term liabilities | $350.2M | $52.4M | $58.1M | $51.5M | $52.6M | $57.8M | $64.6M | $45.6M | $55.9M | $67.7M | $58.7M | $74.3M |
| Total liabilities | $4.84B | $4.81B | $4.89B | $4.86B | $4.82B | $4.67B | $4.61B | $4.24B | $4.25B | $4.29B | $4.19B | $4.14B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $279,000 | $278,000 | $278,000 | $276,000 | $275,000 | $276,000 | $276,000 | $274,000 | $273,000 | $276,000 | $277,000 | $280,000 |
| Retained earnings (deficit) | $380.8M | $367.8M | $351.5M | $339.1M | $328.5M | $318.0M | $309.4M | $302.2M | $294.6M | $287.5M | $280.6M | $272.8M |
| Accumulated other comprehensive income | −$593,000 | −$5.8M | $561,000 | −$5.6M | −$14.2M | −$11.4M | −$13.4M | −$11.4M | −$15.3M | −$15.7M | −$18.2M | −$23.8M |
| Total shareholders' equity | $547.9M | $528.4M | $517.1M | $497.5M | $476.3M | $469.0M | $457.9M | $452.2M | $439.2M | $433.6M | $425.5M | $416.0M |
| Key figures | ||||||||||||
| Total debt | $434.9M | $444.8M | $508.2M | $513.1M | $526.9M | $443.0M | $452.9M | $442.8M | $380.2M | $410.1M | $412.5M | $387.4M |
| Net cash (debt) | $340.3M | $87.5M | −$58.5M | −$4.1M | $85.5M | −$228.9M | $166.9M | $413.8M | $354.9M | $366.5M | $320.1M | $291.2M |
| Working capital | −$3.55B | −$3.76B | −$3.85B | −$4.05B | −$3.90B | −$4.15B | −$3.41B | −$2.88B | −$3.06B | −$3.02B | −$2.97B | −$2.99B |
| Tangible book value | $529.5M | $509.7M | $498.2M | $478.3M | $456.9M | $449.4M | $438.1M | $449.4M | $436.4M | $430.8M | $422.7M | $413.1M |
| Book value per share | $19.23 | $18.55 | $18.05 | $17.74 | $16.99 | $16.73 | $16.32 | $16.20 | $15.83 | $15.44 | $15.07 | $14.69 |
| Shares outstanding | 28.5M | 28.5M | 28.7M | 28.0M | 28.0M | 28.0M | 28.1M | 27.9M | 27.7M | 28.1M | 28.2M | 28.3M |
| Current ratio | 0.18 | 0.13 | 0.11 | 0.12 | 0.15 | 0.06 | 0.17 | 0.23 | 0.20 | 0.21 | 0.20 | 0.19 |
| Quick ratio | 0.18 | 0.13 | 0.11 | 0.12 | 0.15 | 0.06 | 0.17 | 0.23 | 0.20 | 0.21 | 0.20 | 0.19 |
| Debt / equity | 0.79 | 0.84 | 0.98 | 1.03 | 1.11 | 0.94 | 0.99 | 0.98 | 0.87 | 0.95 | 0.97 | 0.93 |
| Equity / assets | 10.2% | 9.9% | 9.6% | 9.3% | 9.0% | 9.1% | 9.0% | 9.6% | 9.4% | 9.2% | 9.2% | 9.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
BWB financial position
At the end of fiscal 2025 (December 31, 2025), Bridgewater Bancshares had total assets of $5.4 billion (up 6.7% from a year earlier), total liabilities of $4.9 billion and shareholders' equity of $517.1 million. It held $449.7 million in cash and short-term investments against $508.2 million of debt, net debt of $58.5 million. Its current ratio was 0.11. In the latest quarter (ended June 30, 2026) total assets were $5.4 billion and equity $547.9 million.
Related: BWB income statement, BWB cash flow statement, BWB key metrics. See the BWB stock overview for the latest quote and news.
BWB balance sheet FAQ
What are Bridgewater Bancshares's total assets?
Bridgewater Bancshares reported total assets of $5.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.1 billion a year earlier.
How much debt does Bridgewater Bancshares have?
Bridgewater Bancshares had $508.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.98.
How much cash does Bridgewater Bancshares have?
Bridgewater Bancshares held $449.7 million in cash and short-term investments at the end of fiscal 2025; with $508.2 million of debt that is net debt of $58.5 million.
What is Bridgewater Bancshares's book value?
Bridgewater Bancshares's shareholders' equity (book value) was $517.1 million at the end of fiscal 2025, or $18.05 per share.
What is Bridgewater Bancshares's current ratio?
Bridgewater Bancshares had current assets of $468.6 million and current liabilities of $4.3 billion, a current ratio of 0.11 (current liabilities exceed current assets).
How much goodwill does Bridgewater Bancshares have?
Bridgewater Bancshares carried $18.9 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.