Bridgewater Bancshares is a commercial bank headquartered in the Twin Cities metro area of Minnesota, operating through its sole subsidiary, Bridgewater Bank. The bank focuses almost exclusively on commercial real estate lending and commercial deposit relationships, with multifamily residential properties as its core lending niche. Bridgewater has recorded only $62K in net charge-offs in multifamily since inception. Beyond traditional CRE, Bridgewater has built a growing national affordable housing vertical, financing tax credit-driven affordable multifamily projects for experienced developers — a segment that now represents roughly 15% of total loans and grew 29% in FY2025. Like most commercial banks, Bridgewater earns the bulk of its revenue from net interest income — taking in deposits and lending those funds at higher rates. Beyond NII, Bridgewater earns swap fees, letter of credit fees, and investment advisory fees. Bridgewater operates a deliberately "branch-light" model with only nine branches and 322 full-time equivalent employees against a $5.4B balance sheet, keeping overhead low. The bank targets local business owners, developers, and entrepreneurs, positioning itself as a relationship-driven, locally-led alternative to large national banks. Bridgewater's long-term target is to grow to $10B in assets by 2030, driven by organic market share gains — aided by M&A disruption among Twin Cities banks — continued national expansion in affordable housing, and opportunistic tuck-in acquisitions.