Bridgewater Bancshares reports Q2 EPS 31c, consensus 31c

Reports tangible book value per share of $12.15 at June 30, an increase of $0.20, or 6.7% annualized, compared to $11.95 at March 31. The company said, “Bridgewater’s second quarter results were highlighted by several improving financial trends as we continue to manage the business through a challenging banking environment. The overall composition of our balance sheet improved with a strong inflow of deposits, including growth in core deposits, and a reduction in overall borrowings. While our net interest margin remained under pressure, we saw the pace of compression slow noticeably on a month-to-month basis during the quarter. In addition, noninterest expense was again well controlled and asset quality remained superb.”