Tangible book value per share, a non-GAAP financial measure, was $13.49 as of December 31, 2024, a decrease of 3.4% from $13.96 as of September 30, 2024, and an increase of 5.1% from $12.84 as of December 31, 2023. “Bridgewater finished the year with positive momentum as the fourth quarter saw robust balance sheet growth, net interest margin expansion, superb asset quality, and the closing of our acquisition of First Minnetonka City Bank,” said Chairman and Chief Executive Officer, Jerry Baack. “Core deposit growth was very strong and loan balances rebounded nicely as loan demand increased later in the year. We were also pleased to see margin expansion during the quarter as our balance sheet was well-positioned for recent Fed rate cuts.”
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