**Bridgewater Bancshares, Inc. (NASDAQ:BWB) Receives Regulatory Approval for Merger with First Minnetonka Bancorporation, Inc.**

Bridgewater Bancshares, Inc. (NASDAQ:BWB) and First Minnetonka Bancorporation, Inc. (FMB) jointly announced on October 23, 2024, that they have obtained regulatory approval for the merger of FMB’s wholly-owned banking subsidiary, First Minnetonka City Bank, into Bridgewater Bancshares’ wholly owned banking subsidiary, Bridgewater Bank. Following the merger, Bridgewater Bank will continue to operate as the surviving entity.

The regulatory approval was a significant step forward, setting the stage for a pivotal consolidation within the banking sector. The companies issued a press release detailing the merger, which has been attached to a Form 8-K filed with the Securities and Exchange Commission. The press release falls under Regulation FD Disclosure, with Exhibit 99.1 providing further insight into the merger.

In the filed Form 8-K, Bridgewater Bancshares, Inc. highlighted that the information shared regarding the merger should not be considered as “filed” for purposes of the Securities Exchange Act of 1934. The report indicated that forward-looking statements were included within the disclosure. These statements gave an overview of the anticipated future performance of Bridgewater post-merger and were in compliance with the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

While the merger represents a strategic move for both companies, Bridgewater Bancshares, Inc. cautioned that forward-looking statements are subject to uncertainties and inherent risks that could impact actual results. Factors such as the successful realization of anticipated merger benefits, integration challenges, regulatory changes, and economic conditions could influence the outcome of the merger.

Bridgewater Bancshares, Inc. emphasized that any forward-looking statements made were based on current beliefs, expectations, and available information. They also made it clear that they do not assume any obligation to publicly update these statements, underscoring the dynamic nature of the business environment.

Furthermore, in compliance with SEC regulations, the company also disclosed financial statements and exhibits related to the merger in the filed Form 8-K. The exhibits included the press release detailing the merger and a Cover Page Interactive Data File.

As the merger progresses, Bridgewater Bancshares, Inc. remains committed to providing transparency and upholding regulatory standards in their communications with stakeholders. The merger is poised to bring about operational synergies and potential growth opportunities, subject to meeting the outlined expectations and overcoming challenges along the way.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bridgewater Bancshares’s 8K filing here.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.