Reports tangible book value per share increased 26c, or 8.9% annualized, to $11.95 at March 31, compared to $11.69 at December 31, 2022. "While first quarter results included well-controlled expenses, superb asset quality, moderated loan growth, and expected net interest margin pressure, our focus was on supporting our clients and demonstrating the resiliency of our balance sheet and business model. Bridgewater is a relationship-focused bank supporting a local real estate and small business client base. With a strong balance sheet, including a diversified loan portfolio, high level of insured deposits, and ample liquidity and borrowing capacity, we feel well-positioned to continue executing on our proven and successful business model," said Chairman, CEO and President, Jerry Baack.
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