Bridgewater Q3 Net Income Rises to $15.0M; Efficiency Ratio Falls Below 50%
BWB sits 37% above its 52-week low of $16.06.
Summary
Bridgewater earned $15.0 million in Q3 2026, up from $14.0 million, with margin expansion and an efficiency ratio below 50% for the first time since Q1 2023. A larger $2.8 million credit provision tied to one multifamily loan and a 6.7% annualized drop in tangible book value per share temper the quarter.
Key Events · Earnings and Guidance · BWB
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Q3 Net Income Rises to $15.0M
Diluted EPS of $0.49 versus $0.45 in Q2 2026 and $0.38 a year ago; net interest income grew $2.1 million to $40.7 million.
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Efficiency Ratio Below 50%
Efficiency ratio fell to 48.8% from 53.0% in Q2 as noninterest expense declined $553,000; pre-provision net revenue rose $2.9 million, or 60.4% annualized.
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Credit Provision Jumps on One Loan
Provision for credit losses was $2.8 million versus $550,000 in Q2, driven by loan growth and a specific reserve; annualized net charge-offs rose to 0.21% from 0.04% on one mixed-use multifamily loan.
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Balance Sheet Growth Accelerates
Gross loans grew $80.4 million (7.2% annualized) and core deposits $165.3 million (19.6% annualized), while brokered deposits fell $96.4 million.
Analysis · BWB · Finance
Profitability improved across the board: net income rose to $15.0 million ($0.49 per diluted share) from $14.0 million in Q2, net interest margin widened to 3.09%, and the efficiency ratio dropped to 48.8% — the first sub-50% quarter since early 2023. The offset is credit: the provision jumped to $2.8 million from $550,000 on one mixed-use multifamily loan, pushing annualized net charge-offs to 0.21% from 0.04%. Tangible book value per share slipped 6.7% annualized to $16.33 on wider unrealized securities losses, and management guided to mid-single-digit loan growth with NIM stability assuming three more rate hikes through the first half of 2027.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 29.2% of the 1466 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BWB was trading at $21.96 on NASDAQ in the Finance sector, with a market capitalization of approximately $574.7M. The 52-week trading range was $16.06 to $22.62. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.