Exhibit 99.1

2 Disclaimer Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, identified by words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized”, “target” and “outlook”, or the negative version of those words or other comparable words of a future or forward-looking nature. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: interest rate risk, including the effects of changes in interest rates; effects on the U.S. economy resulting from the threat or implementation of new, or changes to, existing policies, regulations, regulatory and governmental agencies and executive orders, including with respect to tariffs, immigration, DEI and ESG initiatives, consumer protection, foreign policy, and tax regulations; fluctuations in the values of the securities held in our securities portfolio, including as the result of changes in interest rates; business and economic conditions generally and in the financial services industry, nationally and within our market area, including the level and impact of inflation, including future monetary policies of the Federal Reserve in response thereto, and possible recession; the effects of developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in several bank failures; credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within the Company’s loan portfolio or large loans to certain borrowers (including commercial real estate (CRE) loans); the overall health of the local and national real estate market; our ability to successfully manage credit risk; our ability to maintain an adequate level of allowance for credit losses on loans; new or revised accounting standards as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board, Securities and Exchange Commission (the SEC) or Public Company Accounting Oversight Board; the concentration of large loans to certain borrowers; the concentration of large deposits from certain clients, including those who have balances above current Federal Deposit Insurance Corporation insurance limits; our ability to successfully manage liquidity risk, which may increase our dependence on non-core funding sources such as brokered deposits, and negatively impact our cost of funds; our ability to raise additional capital to implement our business plan; our ability to implement our growth strategy and manage costs effectively; the composition of our senior leadership team and our ability to attract and retain key personnel; talent and labor shortages and employee turnover; the occurrence of fraudulent activity, breaches or failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; interruptions involving our information technology and telecommunications systems or third-party servicers; competition in the financial services industry, including from nonbank competitors such as credit unions, “fintech” companies and digital asset service providers; the effectiveness of our risk management framework; rapid technological changes implemented by us and other parties in the financial services industry, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequence to us and our customers, including development and implementation of tools incorporating artificial intelligence; the commencement, cost and outcome of litigation and other legal proceedings and regulatory actions against us; the impact of recent and future legislative and regulatory changes; risks related to climate change and the negative impact it may have on our customers and their businesses; the imposition of domestic or foreign tariffs or other governmental policies impacting the global supply chain and the value of products produced by our commercial borrowers; severe weather, natural disasters, wide spread disease or pandemics, acts of war or terrorism or other adverse external events, including ongoing conflicts in the Middle East and the Russian invasion of Ukraine; potential impairment to the goodwill the Company recorded in connection with acquisitions; risks associated with our integration of First Minnetonka City Bank (“FMCB”), including the possibility that the merger may be more difficult or expensive to integrate than anticipated and the effect of the merger on the Company’s customer and employee relationships and operating results; changes to U.S. or state tax laws, regulations and governmental policies concerning the Company’s general business, including changes in interpretation or prioritization of such rules and regulations; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry in general on investor or depositor sentiment regarding the stability and liquidity of banks; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the SEC. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Certain of the information contained in this presentation is derived from information provided by industry sources. Although the Company believe that such information is accurate and that the sources from which it has been obtained are reliable, the Company cannot guarantee the accuracy of, and have not independently verified, such information. Use of Non-GAAP financial measures In addition to the results presented in accordance with U.S. General Accepted Accounting Principles (“GAAP”), the Company routinely supplements its evaluation with an analysis of certain non-GAAP financial measures. The Company believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors to help them understand the Company’s operating performance and trends, and to facilitate comparisons with the performance of peers. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of non-GAAP disclosures to the comparable GAAP measures are provided in this presentation.

3 The Finest Entrepreneurial Bank Company Overview Branch-Light Model in Attractive Twin Cities Market Name: Bridgewater Bancshares, Inc. Headquarters: St. Louis Park, MN Ticker: NASDAQ: BWB; BWBBP Assets: $5.3 Billion Loans: $4.1 Billion Deposits: $4.2 Billion Shareholders’ Equity: $476.3 Million Serving a Commercial-Focused Client Base Track Record of Profitability, Growth and Efficiency • CRE lending • Acquisition financing • Construction lending • Affordable housing financing • Long-term multifamily financing • Leases • Commercial & business lending • Business / treasury management • SBA lending • 1-4 family rentals • Personal banking CRE, 32% Multifamily, 38% C&D, 4% Leases, 1% C&I, 13% 1-4 Family, 11% Consumer, 1% $4.1B Business and Personal Banking Commercial Banking Loan Balances • Founded in 2005 by a group of banking industry veterans and local business leaders • Continuous profitability since the third month of operations • Proven ability to generate strong organic growth in the Twin Cities • Expertise in commercial real estate with a focus in multifamily and affordable housing lending • Highly efficient operations with a branch-light model • Organizational focus on risk management with a long track record of superb asset quality Data as of June 30, 2025 BWB Future BWB Denovo Branch Site Twin Cities

4 Strategic Leadership Team (SLT) with Broad Skill Sets and Industry Expertise Jerry Baack Chairman and Chief Executive Officer • Former regulator and responsible for all aspects of BWB formation • Lead founder of BWB in 2005 • 35+ years of banking experience Jeff Shellberg EVP and Chief Credit Officer • Board member and oversees strong credit and underwriting culture • BWB founding member in 2005 • 40+ years of regulatory and banking experience Nick Place Chief Banking Officer • Oversees all aspects of client growth and relationship management, including lending, treasury management and deposits • Joined BWB in 2007 • 15+ years of banking experience Mary Jayne Crocker EVP and Chief Strategy Officer • Shapes long-term strategic plans and ensuring alignment with company objectives • Joined BWB in 2005 • 30+ years of financial services experience Joe Chybowski President and Chief Financial Officer • Strategic insights across all aspects of the organization, including finance, capital and liquidity management • Joined BWB in 2013 • 15+ years of banking and capital markets experience Lisa Salazar Chief Operating Officer • Oversees operations, technology and product initiatives to drive efficiencies and enhance the overall client experience • Joined BWB in 2018 • 30+ years of banking experience Approximately 20% of BWB’s common shares were owned by Board and SLT members as of June 30, 2025, demonstrating strong alignment with shareholders

5 A Culture-Driven Growth Story Truly Unconventional Culture Highly Efficient Business Model Robust Balance Sheet Growth Proactive Risk Management • Entrepreneurial spirit unlike the culture of a typical bank • Modern headquarters with an open layout promoting team member and client collaboration • An award-winning workplace culture • Commitment to providing clients with quick answers, responsive support and simple solutions • Long track record of generating robust organic loan growth • Emphasis on commercial real estate and multifamily lending with an increased focus on affordable housing • M&A-related market disruption has created client and talent acquisition opportunities to support loan and deposit growth • Opportunistic acquirer following successful bank acquisition in 2024 • Branch-light model with a commercial real estate focus • Efficient operating philosophy, including networking, banking tools and in-house expertise • Relatively low levels of expenses as a percent of total assets • Efficiency ratio consistently better than peer banks • Strong asset quality track record with consistently low levels of NCOs and NPAs • Conservative and decisive credit culture, including measured risk selection, consistent underwriting, active credit oversight and deep industry experience • Invest in scaling the risk management function to address emerging risks and support longer term growth outlook 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of June 30, 2025 (Source: S&P Capital IQ) Consistent Tangible Book Value1 Growth and Outperformance Tangible Book Value Per Share1 growth resumed in 1Q25 following a bank acquisition in 4Q24 214% 87% 4Q16 2Q17 4Q17 2Q18 4Q18 2Q19 4Q19 2Q20 4Q20 2Q21 4Q21 2Q22 4Q22 2Q23 4Q23 2Q24 4Q24 2Q25 BWB Peer Bank Average2

Our Core Values 6 Unconventional. Our clients notice a difference. Responsive. Under promise, over deliver. Dedicated. Don’t stop until you get it done. Growth. If you aren’t moving forward, where are you going? Accurate. It’s more than just an expectation.

An Award-Winning Workplace Culture “In today’s environment, it is more important than ever to be able to recruit, retain and develop top talent. At Bridgewater, we have demonstrated an ability to do this through our unconventional culture and employee experience, extensive team member referral network, and a seasoned internship program to further enhance our talent pipelines.” Jerry Baack Chairman and CEO Top Workplaces Star Tribune 2016. 2017. 2018. 2020. 2021. 2022. 2023. 2024. 2025. Best Banks to Work For American Banker 2017. 2018. 2020. 2022. 2023. Corporate Headquarters Progressive Pay and Benefits Health and Wellness Committee Diversity, Equity and Inclusion Committee Volunteer Paid Time Off Modern, open design with an entrepreneurial spirit tailor-made for team building and collaboration Minimum wage of $20 per hour and discretionary bonuses for all team members regardless of level Providing team member opportunities to support physical fitness, nutrition and mental health Inclusive culture that encourages, supports and celebrates diversity of team members and communities in which we serve Team members receive up to 16 hours of PTO per year for volunteer activities supporting the Community Reinvestment Act 7

A Responsive Service Model Our clients can expect… • Responsive support and simple solutions • A local bank of choice in a market where many local banks have been acquired by out-of-state buyers • Flexibility, market expertise and strong network connections The “Proven Process” for Our Clients • BEST Business Bank • BEST Small Business Banking • BEST Commercial Mortgage Lender An Award-Winning Client Experience • BEST Business Bank • BEST Commercial Lender 8

A Commitment to Our Communities Our communities can expect… Bridgewater’s commitment to investing, lending and volunteering in ways that serve low-to-moderate income segments in the Twin Cities “Outstanding” Rating for Community Reinvestment Act Performance FDIC, 2023 $327K Total Contributions in 2024 1,654 Volunteer Hours in 2024 Empowering Women in Entrepreneurship In 2021, we established the BridgewatHER Network, a women’s networking cohort which brings together successful women in business and female entrepreneurs throughout the Twin Cities to network and share insights • Approximately 400 female entrepreneurs and business leaders • Events hosted at the BWB Corporate Center throughout the year • Led by BWB’s Chief Strategy Officer, Mary Jayne Crocker Mary Jayne Crocker EVP and Chief Strategy Officer 9

Environmental, Social and Governance (ESG) We are committed to establishing and advancing impactful initiatives that support our corporate responsibility as one of the largest locally-led banks in the Twin Cities, while regularly sharing our progress with our stakeholders Our ESG Commitment Our ESG Priorities Team Members, Clients and Communities Diversity, Equity and Inclusion Leverage our unconventional corporate culture to leave a positive lasting impact on our team members, clients and communities Ensure strong corporate governance oversight, including an effective risk management framework to support a growing organization Create a diverse, equitable and inclusive work environment and community Contribute to a healthier natural environment in the communities in which we live and work Corporate Governance Environmental ESG Oversight • Board-level Nominating and ESG Committee oversees Bridgewater's strategy and practices related to ESG • Management-level ESG Committee focuses on developing, implementing and growing a formal ESG program For more about Bridgewater’s commitment, priorities and initiatives related to ESG, please visit our ESG webpage at www.BWBMN.com/about-Bridgewater/esg 10

11 Attractive Twin Cities Market Built for Business #3 Fortune 500 companies per capita (17)1 Large Corporate Presence #1 State with highest average credit score (742)2 Credit Worthy Population #6 Best state for economic opportunity3 Economic Opportunity #6 Top state for business4 Top State for Business #4 Best rental market for recent college graduates5 State to Move to Top 20 Most populated MSA in the U.S.6 Populated MSA 2.02% 1.31% Twin Cities Midwest Weighted Average $96,855 $75,430 Twin Cities Midwest Weighted Average Strong Market Demographics 2025 Median Household Income ($)6 2025 – 2030 Proj. Population Growth (%)6 1 Source: Minnesota Department of Employment and Economic Development (ranking among 30 largest metro areas) 2 Source: Experian – Average FICO Score by State, 2025 3 Source: U.S. News & World Report, 2025 4 Source: CNBC, 2024 5 Realtor.com, 2025 6 Source: S&P Capital IQ

12 Bank-of-Choice For Twin Cities Clients Looking to Bank Local 1 Source: FDIC and S&P Capital IQ; includes banks with deposits in the Minneapolis-St. Paul MSA (data as of June 30 of each year) 2 Total assets as of June 30, 2025; excludes Ameriprise Financial 3 Pro forma deposit market share includes June 30, 2024 deposits of FMCB, which was acquired on December 13, 2024 Largest Minnesota-Based Banks by Total Assets1 $384.2 $18.9 $2.9 $1.6 $1.6 $1.5 $1.5 $1.5 $1.4 $1.4 $1.2 $0.7 U.S. Bank TCF Bank Bremer Bank Klein Bank Frandsen Bank & Trust Stearns Bank Think Mutual Bank Minnwest Bank Merchants Bank Anchor Bank Central Bank BWB 2014 26.76% 2.51% 1.14% 0.57% 0.09% 0.01% 0.08% $659.2 $5.3 $3.6 $2.9 $2.8 $2.6 $2.5 $2.1 $1.5 $1.4 $1.4 $1.2 U.S. Bank BWB Frandsen Bank & Trust Minnwest Bank Merchants Bank Tradition Capital Bank Sunrise Banks Think Mutual Bank Citizens Alliance Bank Park State Bank North American Bank Deerwood Bank 20242 44.82% 1.62% 0.28% 0.34% 0.16% 0.67% 0.32% 0.10% 0.04% 0.03% 0.43% 0.07% Acquired Acquired Acquired Acquired Acquired 0.07% 0.11% 0.59% 0.36% • Second largest locally-led bank in the Twin Cities • Significant Twin Cities market disruption with several local banks being acquired by out-of-market buyers • BWB has the scale and agility to be the bank-of-choice for local clients looking for a local bank with local decision-making • BWB’s YoY in-market deposit growth has exceeded Twin Cities MSA growth for 12 consecutive years Total Assets Deposit Market Share (Minneapolis-St. Paul MSA) 3 #14 #2 0.27%

13 History of Robust Organic Asset Growth $1,184 $4,821 $76 $245 $929 $1,260 $1,617 $1,974 $2,269 $2,927 $3,478 $4,346 $4,612 $5,066 $5,297 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2Q25 Organic Acquired Assets Proven ability to consistently generate robust organic asset growth primarily in the Twin Cities market Emphasis on commercial real estate and multifamily lending with an increased focus on affordable housing Dollars in millions Ongoing evaluation of potential M&A opportunities to complement organic growth strategy Completed the acquisition of First Minnetonka City Bank in December 2024

14 Return to Normalized Levels of Loan Growth Dollars in millions 1 Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000 $3,752 $117 $3,800 $3,686 $3,869 $4,020 $4,146 2Q24 3Q24 4Q24 1Q25 2Q25 $2,819 $3,569 $3,724 $3,869 $4,146 2021 2022 2023 2024 2Q25 After moderating through much of 2024 due to the higher interest rate environment, organic loan growth returned in 4Q24 • 2Q25 loan balances increased 12.5% annualized • Near-term loan growth dependent on a variety of factors, including: • Market and economic conditions – economic uncertainty including the interest rate environment • Loan demand – M&A disruption and strong pipelines to support near-term growth, but economic uncertainty and increased competition could impact demand going forward • Loan payoffs and paydowns – pace of loan payoffs will continue to impact loan growth • Core deposit growth – recent core deposit momentum provides additional liquidity for more offensive-minded loan growth while remaining within target loan-to-deposit ratio range Strong track record of robust loan growth • Strong brand presence and relationships in the market allow us to get in front of high-quality clients and deals • Operating in a competitive “sweet spot” in the Twin Cities – financing larger deals than community banks, but under the radar of the larger banks • M&A-related market disruption has resulted in client and banker acquisition opportunities • Expansion of talented lending and treasury management teams • Recent growth in affordable housing with balances up 15% year-over-year Gross Loans Acquired Gross Loans

15 Strong Diversification Within Key Portfolios 1 Includes formally subsidized properties (21%) and market rate properties with affordable set-asides (7%) Data as of June 30, 2025 Class A 28% Class B 10% Class C 34% Affordable Housing 28% Size YoY Growth Go-to-Market Strategy Competitors Growth Outlook Key Stats Portfolio Diversification Multifamily CRE Nonowner Occupied Construction & Development C&I Bank of choice in the Twin Cities market due to proven expertise and differentiated service model Knowledgeable lenders with efficient closing processes and ample capacity Responsive support, simple solutions and the local touch entrepreneurs are looking for Efficient underwriting process and deep knowledge in construction loan management JPMorgan Chase, agency lenders, local banks and credit unions Local banks and life insurance companies Local and regional banks Local and regional banks Continued appetite given expertise and market opportunities Continued appetite given expertise and market opportunities Increased focus on expanding C&I through targeted verticals Return to growth following increased deal activity in late 2024 $3.4M Avg. Loan Size 67% Weighted Avg. LTV 98% Loans with Pass Rating $2.3M Avg. Loan Size 58% Weighted Avg. LTV 98% Loans with Pass Rating $509K Avg. Loan Size 0.02% 5-Year NCOs 98% Loans with Pass Rating $869K Avg. Loan Size 57% Weighted Avg. LTV 0.00% 5-Year NCOs Property Type Industrial 27% Office 19% Retail 16% Senior Housing 11% Mini Storage Facility 10% Medical Office 8% Other 9% Property Type RE, Rental and Leasing 39% Constr. 17% Manufact. 11% Prof. Services 8% Finance & Ins. 8% Trade 4% Accom. & Food Service 1% Other 12% Industry Residential 28% Multifamily 5% CRE Other 23% Land 44% Property Type $1,556M 38% of portfolio $1,137M 27% of portfolio $549M 13% of $176M portfolio 4% of portfolio 11% 6% 10% 6% 1

16 Well-Diversified Loan Portfolio With Multifamily and CRE Expertise CRE NOO 27% Multifamily 38% C&D 4% C&I 13% CRE OO 5% 1-4 Family 11% Leases 1% Consumer & Other 1% CRE NOO 27% Multifamily 21% C&D 15% C&I 13% CRE OO 6% 1-4 Family 18% Consumer & Other 0% $0.8B Evolution of Loan Mix by Type 2015 2Q25 Intentional mix shift toward Multifamily has aligned with the build-out of talent and expertise in the segment, and continued strong performance CRE Concentrations (ex. Multifamily) Have Trended Lower Multifamily / Bank Risk-Based Capital CRE (ex. Multifamily) / Bank Risk-Based Capital $4.1B 354% 333% 318% 304% 313% 266% 264% 258% 232% 213% 218% 180% 164% 185% 177% 204% 190% 219% 257% 250% 249% 258% 534% 497% 503% 480% 517% 456% 483% 515% 482% 462% 476% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2Q25

17 CRE Concentration Driven by a Proven, Lower Risk Multifamily Portfolio 1 Includes formally subsidized properties (21%) and market rate properties with affordable set-asides (7%) 2 FDIC (data through 1Q25) 3 Includes nonowner-occupied CRE, construction and land development, and 1-4 family construction Class A 28% Class B 10% Class C 34% Affordable Housing 28% (0.20)% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% Multi-family CRE 1-4 Family C&I C&D Consumer (ex. cards & auto) Total Loans Last 5 Years Last 10 Years Last 15 Years Last 20 Years Last 25 Years 2Q25 258% of Bank RBC Multifamily Traditional CRE3 218% of Bank RBC 476% of Bank RBC Multifamily Makes Up Over Half of CRE Concentration Multifamily Lending Approach Multifamily Portfolio Characteristics Drive Track Record of Strong Asset Quality WA LTV Avg. Loan Size Avg. Debt/Unit NCOs (since 2005) 67% $3.4M $87K $62K • Bank of choice in the Twin Cities with expertise and differentiated service model • Greater tenant diversification compared to other asset classes • Positive market trends with reduced vacancy rates, strong absorption, and slower construction = favorable outlook for occupancy and rent growth • Market catalysts include relative affordability, steady population growth, low unemployment, strong wages, and shortage of single-family housing Low Historical Losses vs. Other Asset Classes Average Historical Net Charge-Off Rates (all FDIC-insured banks)2 Portfolio Balance 12 Mo. Maturities (fixed) $1.6B $210M Increased Focus on Affordable Housing Product Type Well-Diversified by Size 5-19 Units 10% 20-49 Units 25% 50-99 Units 28% 100+ Units 37% Size 1 Properties Primarily Located In-Market Minnesota 88% National 12% Location

18 Expertise in the Affordable Housing Space Data as of June 30, 2025 81-unit affordable housing property in Bloomington, MN 62-unit affordable housing property in Columbia Heights, MN • Leveraging affordable housing expertise to support communities and clients in the Twin Cities and across the country • $581M affordable housing portfolio as of June 30, 2025 (15% year-over-year growth) • 76% of the portfolio located in MN, 24% out-of-state • Long-time experts in the space with increased investment over the past two years • High barrier to entry due to complex nature of the transactions • Strong source of core deposit growth • Strong market demand in the Twin Cities, driven by shortage of single-family housing • Government subsidy program helps to offset risk by supporting tenant rent payments and increasing occupancy Expertise in the High-Quality Affordable Housing Space Multifamily 76% Construction 3% Land 3% Non-RE 18% $581M Affordable Housing Mix

19 Managing Office-Related Risk 1 Excludes medical office of $87 million Data as of June 30, 2025 Percent of Total Loans Average Loan Size 5.2% $2.5M Weighted Average LTV 61% CRE NOO Office by Geography1 • Majority of CRE NOO office exposure in the Twin Cities suburbs • Only 4 loans totaling $28M located in Minnesota CBDs, with one moved to nonaccrual in 1Q25 • Only 4 loans totaling $22M outside of Minnesota (non-CBD), consisting of projects for existing local clients Well-Managed CRE NOO Office Exposure1 Twin Cities Suburban 56% Minneapolis-St. Paul (CBD) 13% Minneapolis -St. Paul (non-CBD) 19% Out-of-State (non-CBD) 10% Greater MN 2% $214M

20 Continued Core Deposit Momentum Dollars in millions A track record of strong deposit growth… • Strong and growing brand taking market share in the Twin Cities • New client and banker acquisition opportunities due to M&A disruption, including ONB/Bremer • Niche deposit verticals including property management companies, title companies, affordable housing, etc. • Supplemented core deposits with wholesale funding to support future loan growth and manage interest rate risk • YoY deposit growth of $429M, or 11.3.% • YoY core deposit growth of $601M, or 23.2% • Core deposit growth coming from new and existing clients • Core deposit growth not always linear due to nature of the deposit base • 2Q is typically a seasonally low quarter for core deposit growth • Loan-to-deposit ratio of 97.9%, within target range of 95% to 105% …with recent core deposit momentum 30% 26% 20% 20% 19% 18% 13% 19% 21% 19% 29% 30% 25% 10% 31% 34% 8% 8% 8% 8% 13% 23% 28% 20% 20% $2,946 $3,417 $3,710 $4,087 $4,237 2021 2022 2023 2024 2Q25 Noninterest-Bearing Transaction Interest-Bearing Transaction Savings and Money Market Time Brokered 18% 19% 20% 19% 19% 20% 22% 21% 20% 19% 25% 26% 31% 33% 34% 10% 9% 27% 24% 8% 8% 8% 20% 20% 20% $3,808 $3,747 $4,087 $4,162 $4,237 2Q24 3Q24 4Q24 1Q25 2Q25

21 A Spread-Based Revenue Model $25,872 $25,421 $25,314 $24,631 $24,996 $25,599 $26,967 $30,208 $32,452 $1,415 $1,726 $1,409 $1,550 $1,763 $1,522 $2,533 $2,079 $3,627 $27,287 $27,147 $26,723 $26,181 $26,759 $27,121 $29,500 $32,287 $36,079 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Revenue Growth Continues Dollars in thousands • Strong track record of revenue growth with a 10% revenue CAGR since 2019 • Spread-based revenue model with net interest income making up 92% of total revenue in 2025 YTD • Recent increase in noninterest income driven by: • Swap fees ($1.5M over the past four quarters) • Investment advisory fees ($538K YTD since FMCB acquisition) • 2Q25 noninterest income included two non-core items: • Sold $58.5M of securities acquired from FMCB for a gain of $474K • FHLB prepayment income of $301K (other noninterest income) Spread Based Revenue Model…With Increasing Fee Income Net Interest Income Noninterest Income

22 NIM Expansion and Net Interest Income Growth $24,229 $24,631 $26,129 $28,524 $30,815 $767 $968 $747 $719 $1,019 $91 $965 $618 $24,996 $25,599 $26,967 $30,208 $32,452 2.24% 2.24% 2.32% 2.51% 2.62% 2.17% 2.16% 2.24% 2.37% 2.49% 2Q24 3Q24 4Q24 1Q25 2Q25 Net Interest Margin1 Core Net Interest Income Loan Fees Net Interest Income and Margin Trends 2.51% 0.18% 0.04% (0.05)% (0.03)% (0.02)% 2.62% 0.02% (0.03)% NIM (1Q25) Loan Fees Purchase Accounting Accretion Loans Deposits Borrow-ings Cash and Invest-ments Other NIM (2Q25) Net Interest Margin Roll-forward 2Q25 Net Interest Income / Net Interest Margin Commentary 1 Amounts calculated on a tax-equivalent basis using statutory federal tax rate of 21% 2 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation Dollars in thousands Net Interest Income • Net interest income growth of 7% from 1Q25, driven by NIM expansion and average earning asset growth • Included $618K of purchase accounting accretion income • Higher loan fees as loan payoffs increased from 1Q25 Net Interest Margin • NIM expansion of 11 bps in 2Q25 driven by higher loan yields as the loan portfolio reprices higher in the current environment • 2Q25 NIM of 2.62% included 5 bps related to purchase accounting accretion Core NIM2 up 12 bps Core Net Interest Margin1,2 Purchase Accounting Accretion (PAA)

23 Well Positioned to Benefit in Rates-Down Environment 23% 24% 16% 18% 6% 12% $141 $149 $100 $116 $38 $75 Less Than 1 Year 1 to 2 Years 2 to 3 Years 3 to 4 Years 4 to 5 Years 5+ Years 21% 17% 17% 13% 15% 17% $590 $475 $469 $379 $407 $470 Less Than 1 Year 1 to 2 Years 2 to 3 Years 3 to 4 Years 4 to 5 Years 5+ Years Fixed, 67% Variable, 18% Adjustable, 15% Loan Portfolio Mix Fixed-Rate Portfolio ($2.8B) Variable-Rate Portfolio ($742M) Adjustable-Rate Portfolio ($619M) Years to Maturity • Large fixed-rate portfolio provides support to total loan yields in a rates-down environment • $590M of fixed-rate loans maturing over the next year, with a weighted average yield of 5.65% Variable-Rate Loan Floors • Small variable-rate portfolio limits immediate repricing pressure in a rates-down environment • 72% of variable-rate portfolio have rate floors, with 94% of the floors at or above 5% • 100% of variable-rate loans are currently tied to SOFR or Prime Adjustable-Rate Repricing/Maturity Schedule • Adjustable-rate loans likely to reprice higher, even in a rates-down environment • $141M of adjustable-rate loans repricing or maturing over the next year, with a weighted average yield of 4.43% Dollars in millions WA Yield 5.65% 4.86% 5.47% 5.35% 5.91% 4.16% WA Yield 4.43% 4.59% 4.65% 5.02% 6.82% 4.56% 2% 4% 29% 54% 11% $11 $19 $154 $287 $61 Below 4% 4%-5% 5%-6% 6%-7% Above 7% 37% of new loan originations YTD in 2025 were variable-rate

24 A Highly Efficient Business Model 42.0% 41.5% 53.0% 57.9% 53.9% 57.1% 56.3% 60.9% 61.5% 58.8% 2021 2022 2023 2024 2Q25 YTD BWB An Efficiency Ratio1 Consistently Below Peers 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation. 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of June 30, 2025 (Source: S&P Capital IQ) What Makes BWB So Efficient? An Efficient Operating Culture With a CRE-Focused, Branch-Light Model ~2x as many assets per FTE employee compared to the peer bank median2 9 Branches (peer bank median2 : 39) ~4x as many assets per branch compared to the peer bank median2 The higher cost of funds associated with a branch-light model is more than offset by lower overall operating expenses Total Expenses to Average Earning Assets (2Q25 YTD) 1.50% 2.67% 2.93% 2.27% 4.43% 4.94% BWB Peer Bank Average Peer Bank Median2 2 Interest Expense / Avg. Earning Assets Noninterest Expense / Avg. Earning Assets

25 Modernizing Technology Tools to Support Growth and Efficiency Client-Facing • Commercial online banking upgrade completed in 2023 • Collaborative technology tools integrated into BWB Corporate Center • Cybersecurity threat detection and response Scalable core to support growth outlook Core Banking Platform IT Strategy: improve client interactions, streamline processes, automate activities, and embrace digital transformation IT Decision-Making: driven by unconventional culture, enhancing the client experience and improving organizational efficiencies IT Current State Loan and Deposit Infrastructure nCino • Enhanced commercial loan origination system that digitizes the end-to-end lending process Salesforce • Enhanced customer relationship management for lending and deposit opportunities Workflow Automation and Analysis ServiceNow • Scalable workflow automation platform to enhance internal efficiencies Snowflake • Real-time data analytics and visualization to support decision-making 2025 IT Focus Areas First Minnetonka City Bank Integration • Executing on a smooth and successful system conversion with minimal client impact • Both banks run on Fiserv core • Expected to occur in 3Q25 Retail/Small Business Online Banking Upgrade • Launched an enhanced online banking experience in 3Q25 for retail and small business clients Microsoft 365 Adoption • Enhance organizational efficiencies through tools, including AI, that support productivity, document control, and collaboration

26 Scaling Enterprise Risk Management Across a Growing Organization Manage and mitigate dynamic risks while enhancing shareholder value, being responsive to clients, and delivering simple solutions in unconventional ways BWB Risk Management Philosophy Enterprise Risk Management Attributes in Place Today at BWB • Proactively addressing top and emerging risks across all risk categories • Continuing to scale a risk framework aligned with growth • Leveraging technology to enhance processes and controls while driving responsiveness • Reinforcing operational and financial resilience through all three lines of defense • Making investments to bolster organizational resiliency and third-party risk management • Proactively making incremental enhancements to ESG and DEI programs as well as committing to recruitment and retention strategies Making Investments to Proactively Identify and Mitigate Emerging Risks Credit Concentration Risk Information and Cybersecurity Risk Enterprise Risk and Compliance Financial Risk • Strong credit underwriting and administration program • Proactive credit risk oversight, analytics and portfolio monitoring as well as building upon the bank’s stress testing capabilities • Expertise and specialization in key portfolios, including multifamily • Investing in enhanced infrastructure and security protocols • Proactively leveraging technology to meet the evolving digital needs of clients while maintaining safety and security • Effective risk culture and awareness model with ongoing training initiatives and tabletop simulations • Focus on recruitment and retention of highly skilled risk professionals across the bank, including the addition of an Information Security Officer • Proactively monitoring internal and external trends to quantify changes in risk profile • Maintaining compliance with evolving regulatory expectations and broadening suite of products and services • Monitoring and managing balance sheet growth with an eye toward economic and interest rate volatility • Actively monitoring, maintaining and strategically deploying liquidity while developing long-term strategies for capital preservation • Broadening the bank’s liquidity risk management tools through expanded digital offerings and enhancements to the client experience

A Strong Credit Culture 5-Year Peak Annual Net Charge-off Ratio vs. Peers 5-Year Peak Quarterly Nonperforming Assets2 / Assets vs. Peers 0.03% BWB Peer Bank Median1 0.18% 0.20% BWB Peer Bank Median1 0.69% 1 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of June 30, 2025 (Source: S&P Capital IQ) 2 Nonaccrual loans, loans 90 days past due and foreclosed assets Data as of June 30, 2025 Asset Quality Consistently Outperforms Peers Consistent Underwriting Standards Active Credit Oversight Experienced Banking and Credit Teams • Growth continues to primarily be in-market with nearly 80% of real estate loan balances in the Twin Cities market • No significant changes in portfolio composition – continued focus on multifamily expertise • No individual credit authority for lending staff • Enhanced credit concentration monitoring • Proactively addressing repricing risk to identify potential cash flow strain well ahead of maturity • Seasoned credit team supporting loan growth and credit risk review • Solid lender and credit analyst expertise across segments, geographies and relationships 27

28 Credit Risk Management and Oversight Driving Strong Asset Quality $722 $639 $919 $301 $10,134 0.02% 0.01% 0.02% 0.01% 0.19% 2021 2022 2023 2024 2Q25 $40,020 $47,996 $50,494 $52,277 $55,765 1.42% 1.34% 1.36% 1.35% 1.35% 2021 2022 2023 2024 2Q25 Nonperforming Assets2 NPAs remain low despite one CBD office loan moving to nonaccrual in 1Q25 Allowance for Credit Losses Well-reserved compared to peer median ACL/Loans of 1.19%1 $(29) $(276) $202 $1,231 $12 0.00% (0.01)% 0.01% 0.03% 0.00% 2021 2022 2023 2024 YTD 2Q25 Net Charge-Offs Low net charge-off history Net Charge-Offs % of Average Loans $22,641 $28,049 $35,858 $21,791 $44,986 5.45% 5.52% 6.46% 3.80% 7.46% 2021 2022 2023 2024 2Q25 Substandard Loans Modest migration into Substandard Substandard Loans % of Total Bank Capital ACL % of Gross Loans 1 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of June 30, 2025 (Source: S&P Capital IQ) 2 Nonaccrual loans plus loans 90 days past due and still accruing and foreclosed assets Dollars in thousands NPAs % of Assets

29 High Quality Securities Portfolio AAA 20% AA 53% A 2% BBB 11% NR 14% Rating Mix Derivatives Portfolio Offsetting AOCI Impact (dollars in thousands) $(43,522) $(39,161) $26,708 $16,119 $(15,320) $(14,228) 2Q24 2Q25 MTM Securities MTM Derivatives Net Impact on AOCI1 • No held-to-maturity securities • Securities portfolio average duration of 6.1 years • Average securities portfolio yield of 4.86% • AOCI / Total Risk-Based Capital of 2.3% vs. peer bank median of 5.6%2 1 Includes the tax-effected impact of $6,179 in 2Q24 and $5,738 in 2Q25 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of March 31, 2025 (Source: S&P Capital IQ) 34% 31% 32% 33% 36% 22% 17% 16% 15% 15% 23% 21% 17% 17% 18% 16% 22% 23% 20% 21% 15% 13% 12% 11% $601 $665 $768 $765 $744 2Q24 3Q24 4Q24 1Q25 2Q25 Mortgage-Backed Securities Municipal Bonds U.S. Treasuries Corporate Securities Securities Available for Sale Portfolio (dollars in millions) Other

11.3% 14.5% 13.2% 11.9% 12.4% 36.1% 34.2% 32.2% 34.0% 32.7% $2,222 $2,290 $2,296 $2,357 $2,385 2Q24 3Q24 4Q24 1Q25 2Q25 30 Ample Liquidity and Borrowing Capacity 1 Excludes $282M of pledged securities at June 30, 2025 Dollars in millions Off-Balance Sheet Liquidity as a % of Assets On-Balance Sheet Liquidity as a % of Assets Liquidity Position with 1.8x Coverage of Uninsured Deposits Significantly Enhanced Liquidity Position Since 2022 Funding Source 12/31/2022 6/30/2025 Change Cash and Cash Equivalents $ 48 $ 193 $ 145 Unpledged Securities1 549 462 (87) FHLB Capacity 391 491 100 FRB Discount Window 158 1,019 861 Unsecured Lines of Credit 208 200 (8) Secured Line of Credit 26 20 (6) Total $ 1,380 $ 2,385 $ 1,005 Available Balance

31 Stable Capital Position to Support Growth 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation Capital Priorities 1 3 2 Organic Growth Share Repurchases M&A 4 Dividends Drive profitability by supporting a proven organic loan growth engine Opportunistically return capital to shareholders by buying back stock based on valuation, capital levels, and other uses of capital Review and evaluate M&A opportunities that complement BWB’s business model Have not historically paid a common stock dividend given market share opportunities 7.87% 7.57% 7.48% 7.23% 7.39% 7.61% 7.73% 7.72% 7.90% 8.17% 7.36% 7.48% 7.40% 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 8.50% 8.47% 8.40% 8.48% 8.72% 9.07% 9.16% 9.21% 9.41% 9.79% 9.08% 9.03% 9.03% 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Common Equity Tier 1 Capital Ratio Tangible Common Equity Ratio1 Recent Capital Actions • Completed offering of $80.0M of 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 • Net proceeds used to redeem $50.0M of outstanding 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes • Repurchased 122,704 shares of common stock in 2Q25 at an aggregate purchase price of $1.6 million (average price of $12.80 per share); $13.1M remaining under current share repurchase authorization as of June 30, 2025 • Extended the expiration date of the current share repurchase authorization from August 20, 2025 to August 26, 2026

32 Near-Term Expectations • Mid-to-high single digit loan growth in 2H25, dependent on the pace of core deposit growth • Focus on profitable growth while aligning loan growth with core deposit growth over time • Target loan-to-deposit ratio between 95% and 105% Balance Sheet Growth • Slight NIM expansion in 3Q25 due to headwinds from subordinated debt refinance and lower accretion income • Loan yield repricing and potential interest rate cuts likely to drive ongoing margin expansion in future quarters • Continued net interest income growth due to NIM expansion and loan growth outlook • Dependent on pace of additional rate cuts and shape of the yield curve Net Interest Margin • High-teen noninterest expense growth for full-year 2025 (excluding merger-related expenses) • Continued investments in people and technology initiatives • Alignment of provision expense with loan growth and overall asset quality Expenses • Maintain stable capital levels in the current environment given the stronger growth outlook • Ongoing evaluation of potential share repurchases based on valuation, capital levels, and other uses of capital Capital Levels

33 2025 Strategic Priorities Return to More Normalized Levels of Profitable Growth Continue to Gain Loan and Deposit Market Share Leverage Technology to Support Business Growth Execute on M&A Integration and Readiness Initiatives • Well positioned given efforts to optimize the balance sheet in 2024, including strong core deposit growth and reduced loan-to-deposit ratio • Leverage increased loan demand due to the more favorable interest rate environment • Continue to align loan growth with core deposit growth over time • Maintain strong credit quality through consistent underwriting standards and active credit oversight • Utilize the expanded branch footprint, including two branches acquired from FMCB and anticipated 2026 opening of a de novo branch in Lake Elmo, MN • Focus on expanding targeted verticals, including affordable housing, women business leaders, and cannabis • Leverage affordable housing expertise to grow client base across the Twin Cities and nationally • Leverage marketplace disruption in the Twin Cities to attract new clients and top talent • Implement upgraded retail and small business online banking solution • Optimize recent technology investments, including the nCino commercial loan origination system and new CRM platform, as well as new AI tools to create efficiencies and enhance the client experience • Successfully complete systems integration of FMCB • Evaluate additional M&A opportunities that support BWB’s business model and growth outlook • Leverage recent M&A experience to optimize readiness and execution of future M&A opportunities Year-to-Date Progress (2Q25) • Loan growth of 14.5% annualized • Core deposit growth1 of 5.2% annualized • Affordable housing growth of $74M, or 29.4% annualized • C&I growth of 20.9% annualized • Preparing for FMCB systems conversion in 3Q25 1 Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000 • Successfully upgraded retail and small business online banking platform in 3Q25

34 APPENDIX

35 Reconciliation of Non-GAAP Financial Measures Dollars in thousands June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Pre-Provision Net Revenue: Noninterest Income $ 1,763 $ 1,522 $ 2,533 $ 2,079 $ 3,627 Less: (Gain) Loss on Sales of Securities (320) 28 - (1) (474) Less: FHLB Advance Prepayment Income - - - - (301) Total Operating Noninterest Income 1,443 1,550 2,533 2,078 2,852 Plus: Net Interest Income 24,996 25,599 26,967 30,208 32,452 Net Operating Revenue $ 26,439 $ 27,149 $ 29,500 $ 32,286 $ 35,304 Noninterest Expense 15,539 15,760 $ 16,812 $ 18,136 $ 18,941 Total Operating Noninterest Expense $ 15,539 $ 15,760 $ 16,812 $ 18,136 $ 18,941 Pre-provision Net Revenue $ 10,900 $ 11,389 $ 12,688 $ 14,150 $ 16,363 Plus: Non-Operating Revenue Adjustments 320 (28) - 1 775 Less: Provision for Credit Losses 600 - 2,175 1,500 2,000 Less: Provision for Income Taxes 2,505 2,686 2,309 3,018 3,618 Net Income $ 8,115 $ 8,675 $ 8,204 $ 9,633 $ 11,520 Average Assets $ 4,646,517 $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 Pre-Provision Net Revenue Return on Average Assets 0.94% 0.96% 1.05% 1.13% 1.27% Adjusted Pre-Provision Net Revenue: Net Operating Revenue $ 26,439 $ 27,149 $ 29,500 $ 32,286 $ 35,304 Noninterest Expense $ 15,539 $ 15,760 $ 16,812 $ 18,136 $ 18,941 Less: Merger-related Expenses - (224) (488) (565) (540) Adjusted Total Operating Noninterest Expense $ 15,539 $ 15,536 $ 16,324 $ 17,571 $ 18,401 Adjusted Pre-Provision Net Revenue $ 10,900 $ 11,613 $ 13,176 $ 14,715 $ 16,903 Adjusted Pre-Provision Net Revenue Return on Average Assets 0.94% 0.98% 1.09% 1.18% 1.31% Core Net Interest Margin Net Interest Income (Tax-equivalent Basis) $ 25,288 $ 25,905 $ 27,254 $ 30,464 $ 32,770 Less: Loan Fees (767) (968) (747) (719) (1,019) Purchase Accounting Accretion: Loan Accretion - - - (342) (425) Bond Accretion - - (91) (578) (152) Bank-Owned Certificates of Deposit Accretion - - - (7) (4) Deposit Certificates of Deposit Accretion - - - (38) (37) Total Purchase Accounting Accretion - - (91) (965) (618) Core Net Interest Income (Tax-equivalent Basis) $ 24,521 $ 24,937 $ 26,416 $ 28,780 $ 31,133 Average Interest Earning Assets $ 4,545,920 $ 4,595,521 $ 4,682,841 $ 4,928,283 $ 5,019,058 Core Net Interest Margin 2.17% 2.16% 2.24% 2.37% 2.49% As of and for the quarter ended, June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Core Loan Yield Loan Interest Income (Tax-Equivalent Basis) $ 51,592 $ 52,118 $ 52,078 $ 53,979 $ 58,122 Less: Loan Fees (767) (968) (747) (719) (1,019) Loan Accretion - - - (342) (425) Core Loan Interest Income $ 50,825 $ 51,150 $ 51,331 $ 52,918 $ 56,678 Average Loans $ 3,771,768 $ 3,721,654 $ 3,730,532 $ 3,899,258 $ 4,064,540 Core Loan Yield 5.42% 5.47% 5.47% 5.50% 5.59% Efficiency Ratio: Noninterest Expense $ 15,539 $ 15,760 $ 16,812 $ 18,136 $ 18,941 Less: Amortization Intangible Assets (8) (9) (52) (230) (230) Adjusted Noninterest Expense $ 15,531 $ 15,751 $ 16,760 $ 17,906 $ 18,711 Net Interest Income $ 24,996 $ 25,599 $ 26,967 $ 30,208 $ 32,452 Noninterest Income 1,763 1,522 2,533 2,079 3,627 Less: (Gain) Loss on Sales of Securities (320) 28 - (1) (474) Adjusted Operating Revenue $ 26,439 $ 27,149 $ 29,500 $ 32,286 $ 35,605 Efficiency Ratio 58.7% 58.0% 56.8% 55.5% 52.6% Adjusted Efficiency Ratio: Noninterest Expense $ 15,539 $ 15,760 $ 16,812 $ 18,136 $ 18,941 Less: Amortization Intangible Assets (8) (9) (52) (230) (230) Less: Merger-related Expenses - (224) (488) (565) (540) Adjusted Noninterest Expense $ 15,531 $ 15,527 $ 16,272 $ 17,341 $ 18,171 Net Interest Income $ 24,996 $ 25,599 $ 26,967 $ 30,208 $ 32,452 Noninterest Income 1,763 1,522 2,533 2,079 3,627 Less: (Gain) Loss on Sales of Securities (320) 28 - (1) (474) Less: FHLB Advance Prepayment Income - - - - (301) Adjusted Operating Revenue $ 26,439 $ 27,149 $ 29,500 $ 32,286 $ 35,304 Adjusted Efficiency Ratio 58.7% 57.2% 55.2% 53.7% 51.5% Adjusted Noninterest Expense to Average Assets: Noninterest Expense $ 15,539 $ 15,760 $ 16,812 $ 18,136 $ 18,941 Less: Merger-related Expenses - (224) (488) (565) (540) Adjusted Noninterest Expense $ 15,539 $ 15,536 $ 16,324 $ 17,571 $ 18,401 Average Assets $ 4,646,517 $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 Adjusted Noninterest Expense to Average Assets (ann.) 1.35% 1.31% 1.36% 1.41% 1.43% As of and for the quarter ended,

36 Reconciliation of Non-GAAP Financial Measures Dollars in thousands June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Tangible Common Equity / Tangible Assets Total Shareholders' Equity $ 439,241 $ 452,200 $ 457,935 $ 468,975 $ 476,282 Less: Preferred Stock (66,514) (66,514) (66,514) (66,514) (66,514) Total Common Shareholders' Equity 372,727 385,686 391,421 402,461 409,768 Less: Intangible Assets (2,797) (2,789) (19,832) (19,602) (19,372) Tangible Common Equity $ 369,930 $ 382,897 $ 371,589 $ 382,859 $ 390,396 Total Assets $ 4,687,035 $ 4,691,517 $ 5,066,242 $ 5,136,808 $ 5,296,673 Less: Intangible Assets (2,797) (2,789) (19,832) (19,602) (19,372) Tangible Assets $ 4,684,238 $ 4,688,728 $ 5,046,410 $ 5,117,206 $ 5,277,301 Tangible Common Equity / Tangible Assets 7.90% 8.17% 7.36% 7.48% 7.40% Return on Average Tangible Common Equity Net Income Available to Common Shareholders $ 7,101 $ 7,662 $ 7,190 $ 8,620 $ 10,506 Average Shareholders' Equity $ 435,585 $ 443,077 $ 455,949 $ 465,408 $ 471,700 Less: Average Preferred Stock (66,514) (66,514) (66,514) (66,514) (66,514) Average Common Equity 369,071 376,563 389,435 398,894 405,186 Less: Effects of Average Intangible Assets (2,802) (2,794) (4,412) (19,738) (19,504) Average Tangible Common Equity $ 366,269 $ 373,769 $ 385,023 $ 379,156 $ 385,682 Return on Average Tangible Common Equity 7.80% 8.16% 7.43% 9.22% 10.93% As of and for the quarter ended, June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Adjusted Diluted Earnings Per Common Share Net Income Available to Common Shareholders $ 7,101 $ 7,662 $ 7,190 $ 8,620 $ 10,506 Add: Merger-related Expenses - 224 488 565 540 Less: FHLB Advance Prepayment Income - - - - (301) Less: (Gain) Loss on Sales of Securities (320) 2 8 - (1) (474) Total Adjustments (320) 252 488 564 (235) Less: Tax Impact of Adjustments 76 (59) (107) (135) 56 Adjusted Net Income Available to Common $ 6,857 $ 7,855 $ 7,571 $ 9,049 $ 10,327 Diluted Weighted Average Shares Outstanding 27,748,184 27,904,910 28,055,532 28,036,506 27,998,008 Adjusted Diluted Earnings Per Common Share $ 0.25 $ 0.28 $ 0.27 $ 0.32 $ 0.37 Adjusted Return on Average Assets Net Income $ 8,115 $ 8,675 $ 8,204 $ 9,633 $ 11,520 Add: Total Adjustments (320) 252 488 564 (235) Less: Tax Impact of Adjustments 76 (59) (107) (135) 56 Adjusted Net Income $ 7,871 $ 8,868 $ 8,585 $ 10,062 $ 11,341 Average Assets $ 4,646,517 $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 Adjusted Return on Average Assets 0.68% 0.75% 0.71% 0.80% 0.88% Adjusted Return on Average Tangible Common Equity Adjusted Net Income Available to Common $ 6,857 $ 7,855 $ 7,571 $ 9,049 $ 10,327 Average Tangible Common Equity $ 366,269 $ 373,769 $ 385,023 $ 379,156 $ 385,682 Adjusted Return on Average Tangible Common 7.53% 8.36% 7.82% 9.68% 10.74% As of and for the quarter ended, December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 Efficiency Ratio: Noninterest Expense $ 48,095 $ 56,620 $ 59,320 $ 63,300 Less: Amortization Intangible Assets (191) (191) (100) (78) Adjusted Noninterest Expense $ 47,904 $ 56,429 $ 59,220 $ 63,222 Net Interest Income $ 109,509 $ 129,698 $ 105,174 $ 102,193 Noninterest Income 5,309 6,332 6,493 7,368 Less: (Gain) Loss on Sales of Securities (750) (82) 3 3 (385) Adjusted Operating Revenue $ 114,068 $ 135,948 $ 111,700 $ 109,176 Efficiency Ratio 42.0% 41.5% 53.0% 57.9% As of and for the year ended,

37 Reconciliation of Non-GAAP Financial Measures Tangible Book Value Per Share December 31, 2016 March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 March 31, 2019 Book Value Per Common Share $ 4.69 $ 4.91 $ 5.23 $ 5.43 $ 5.56 $ 6.62 $ 6.85 $ 7.01 $ 7.34 $ 7.70 Less: Effects of Intangible Assets (0.16) (0.16) (0.16) (0.16) (0.16) (0.13) (0.12) (0.12) (0.12) (0.12) Tangible Book Value Per Common Share $ 4.53 $ 4.75 $ 5.07 $ 5.27 $ 5.40 $ 6.49 $ 6.73 $ 6.89 $ 7.22 $ 7.58 Total Common Shares 24,589,861 24,589,861 24,589,861 24,629,861 24,679,861 30,059,374 30,059,374 30,059,374 30,097,274 30,097,674 Tangible Book Value Per Share June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 September 30, 2021 Book Value Per Common Share $ 7.90 $ 8.20 $ 8.45 $ 8.61 $ 8.92 $ 9.25 $ 9.43 $ 9.92 $ 10.33 $ 10.73 Less: Effects of Intangible Assets (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.11) Tangible Book Value Per Common Share $ 7.78 $ 8.08 $ 8.33 $ 8.49 $ 8.80 $ 9.13 $ 9.31 $ 9.80 $ 10.21 $ 10.62 Total Common Shares 28,986,729 28,781,162 28,973,572 28,807,375 28,837,560 28,710,775 28,143,493 28,132,929 28,162,777 28,066,822 Tangible Book Value Per Share December 31, 2021 March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Book Value Per Common Share $ 11.09 $ 11.12 $ 11.14 $ 11.44 $ 11.80 $ 12.05 $ 12.25 $ 12.47 $ 12.94 $ 13.30 Less: Effects of Intangible Assets (0.11) (0.11) (0.11) (0.11) (0.11) (0.10) (0.10) (0.10) (0.10) (0.10) Tangible Book Value Per Common Share $ 10.98 $ 11.01 $ 11.03 $ 11.33 $ 11.69 $ 11.95 $ 12.15 $ 12.37 $ 12.84 $ 13.20 Total Common Shares 28,206,566 28,150,389 27,677,372 27,587,978 27,751,950 27,845,244 27,973,995 28,015,505 27,748,965 27,589,827 Tangible Book Value Per Share June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Book Value Per Common Share $ 13.63 $ 14.06 $ 14.21 $ 14.60 $ 14.92 Less: Effects of Intangible Assets (0.10) (0.10) (0.72) (0.71) (0.71) Tangible Book Value Per Common Share $ 13.53 $ 13.96 $ 13.49 $ 13.89 $ 14.21 Total Common Shares 27,348,049 27,425,690 27,552,449 27,560,150 27,470,283 As of and for the quarter ended, As of and for the quarter ended, As of and for the quarter ended, As of and for the quarter ended,

Bridgewater Bancshares Inc 8-K