Bridgewater Bancshares, Inc. (Nasdaq: BWB) (“Bridgewater”), the parent company of Bridgewater Bank, announced the completion of Bridgewater Bank’s acquisition of First Minnetonka City Bank (“FMCB”), effective December 13, 2024.
“We are excited to welcome First Minnetonka City Bank’s team members and clients to Bridgewater as we demonstrate our unique culture, provide responsive service and simple solutions, and offer an enhanced suite of products and services,” said Bridgewater Chairman and Chief Executive Officer, Jerry Baack. “This complementary acquisition aligns with and accelerates Bridgewater’s strategic priorities, including our focus on continued growth within the Twin Cities community. We believe the momentum created through the acquisition, along with ongoing market disruption in the Twin Cities, provides a catalyst for future success as we head into 2025.”
With the completion of the acquisition, Bridgewater has approximately $5.0 billion in total assets with nine full-service branches across the Twin Cities.
D.A. Davidson & Co. served as financial advisor and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to Bridgewater. Olsen Palmer LLC served as financial advisor and Winthrop & Weinstine PA served as legal counsel to First Minnetonka City Bank.
