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Bridgewater Bancshares, Inc. completes acquisition of First Minnetonka City Bank to expand its presence in the Twin Cities

Aug 28, 2024•over 1 year ago

Acquiring Company

Bridgewater Bancshares

Acquired Company

First Minnetonka City Bank

Saint Louis ParkMinnetonkaBankingLendingFinanceBankingLendingFinanceFinancial Services

Description

Bridgewater Bancshares, Inc. has announced the strategic acquisition of First Minnetonka City Bank, adding a high-quality and complementary Twin Cities community bank. The combined organization is expected to have approximately $4.9 billion in total assets and will offer a more complete product set to their client base.

Company Information

Company

Bridgewater Bancshares

Location

Saint Louis Park, Minnesota, United States

About

Bridgewater Bank (Nasdaq: BWB) is a full-service, entrepreneurial bank founded in 2005 with a vision to offer fast answers, meaningful opportunities, and a positive, growth-oriented environment. Built on an unconventional model, the bank has grown into one of Minnesota’s top ten banks by asset size and is recognized nationally for its performance, culture, and client-centric approach. Bridgewater became the first Minnesota bank in over 25 years to complete a successful IPO and has attracted institutional investment from across the U.S. More than a high-performing financial institution, Bridgewater Bank is a community of driven professionals redefining what it means to work in banking—with a lasting commitment to its people at the core.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed