Bridgewater Bancshares Inc. reported adjusted revenue of $36.1 million for the quarter ended September 30, 2025, compared to $35.6 million in the previous quarter and $32.3 million in the same quarter of the prior year. Noninterest expense for the quarter was $20.0 million, up from $18.9 million in the previous quarter and $18.1 million in the comparable quarter of the prior year. The company's efficiency ratio for the third quarter of 2025 was 54.7%, compared to 52.6% in the previous quarter and 55.5% in the same quarter of the prior year. A significant business development during the period was the completion of Bridgewater Bank's acquisition of FMCB on December 13, 2024, in an all-cash transaction. The merger is aligned with the company's strategy to focus on growth within the Twin Cities market. Net interest income remains the company's primary source of revenue, influenced by interest earning assets, funding sources, and interest rates.