Bridgewater Bancshares Enters Material Agreement

TL;DR

BWB signs new deal, expect financial moves.

AI Summary

Bridgewater Bancshares, Inc. entered into a material definitive agreement on September 3, 2024. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details of the agreement and financial obligations are not provided in this excerpt.

Why It Matters

This filing signals a significant new agreement for Bridgewater Bancshares, potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligations, which could introduce new risks or opportunities not yet fully detailed.

Key Players & Entities

• Bridgewater Bancshares, Inc. (company) — Registrant
• September 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — angeonwhichregistered: Common Stock , $0.01 Par Value Depositary Shares , each re
• $40.0 million — xisting revolving line of credit with a $40.0 million borrowing limit (the "Line of Credit")

Filing Documents

• bwb-20240903x8k.htm (8-K) — 37KB
• bwb-20240903xex10d1.htm (EX-10.1) — 36KB
• bwb-20240903xex10d2.htm (EX-10.2) — 21KB
• 0001558370-24-012656.txt ( ) — 256KB
• bwb-20240903.xsd (EX-101.SCH) — 4KB
• bwb-20240903_def.xml (EX-101.DEF) — 13KB
• bwb-20240903_lab.xml (EX-101.LAB) — 19KB
• bwb-20240903_pre.xml (EX-101.PRE) — 13KB
• bwb-20240903x8k_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 1, 2024, Bridgewater Bancshares, Inc. (the "Company") entered into a Third Amendment to Loan and Security Agreement (the "Amendment") and related amended and restated revolving note (the "Revolving Note") with ServisFirst Bank (the "Lender"). The Amendment, which amends the Loan and Security Agreement between the Company and the Lender, dated March 1, 2021, extended the maturity date of the Company's existing revolving line of credit with a $40.0 million borrowing limit (the "Line of Credit") from September 1, 2024 to September 1, 2026. The Line of Credit provides for a variable interest rate equal to the greater of the Wall Street Journal Prime Rate in effect or a floor rate. The Amendment also increased the floor rate from 3.85% to 4.50%. The foregoing descriptions of the Amendment and the Revolving Note do not purport to be complete, and are qualified in their entirety by reference to the full text of the Amendment and the Revolving Note which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 is incorporated by reference in this Item 2.03 in its entirety.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit 10.1 Third Amendment to Loan and Security Agreement, dated as of September 1, 2024, by and between Bridgewater Bancshares, Inc., as Borrower, and ServisFirst Bank, as Lender. Exhibit 10.2 Amended and Restated Revolving Note, dated as of September 1, 2024, made by Bridgewater Bancshares, Inc., as Borrower, to and in favor of ServisFirst Bank, as Lender. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Bridgewater Bancshares, Inc. Date: September 6, 2024 By: /s/ Jerry Baack Name: Jerry Baack Title: Chairman and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR