Bridgewater Bancshares, Inc. Files Universal Shelf Registration Statement

Bridgewater Bancshares, Inc. (“Bridgewater”) (NASDAQ: BWB), the holding
company for Bridgewater Bank, today announced that it has filed a
universal shelf registration statement with the Securities and Exchange
Commission (“SEC”). The registration statement is intended to provide
Bridgewater with efficient access to the capital markets and increased
financial flexibility.

Once the shelf registration statement has been declared effective by the
SEC, Bridgewater may from time to time issue up to $100 million of
various types of securities covered by the registration statement,
including common stock, preferred stock, debt securities, warrants,
depositary shares, subscription rights, stock purchase contracts, and
stock purchase units. Currently, Bridgewater has no specific plans to
issue any securities under the registration statement. The specifics of
any future offering, along with the prices and terms of any such
securities offered by Bridgewater, will be determined at the time of any
such offering and will be described in detail in a prospectus supplement
filed in connection with such offering.

Jerry Baack, Chairman, President, and Chief Executive Officer of
Bridgewater, commented, “We consider this registration statement to be a
proactive step to facilitate our future ability to raise capital to
support our organic growth and to fund potential acquisitions.”

The shelf registration statement relating to these securities has been
filed with the SEC but has not yet become effective. The securities
under the registration statement may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offering of the securities covered by the shelf
registration statement will be made solely by means of a prospectus and,
if required, an accompanying prospectus supplement relating to that
offering. A copy of the prospectus included in the registration
statement may be obtained on the SEC's website at www.sec.gov
or from Bridgewater’s investor
relations website.

About Bridgewater Bancshares, Inc.

Bridgewater Bancshares, Inc. is the holding company for Bridgewater
Bank, a full-service commercial bank formed in 2005 to serve the diverse
needs of commercial real estate investors, small business entrepreneurs
and high-net-worth individuals. Bridgewater Bank has seven locations
serving clients across the Minneapolis-St. Paul-Bloomington metropolitan
statistical area in Minnesota and offers a full array of simple, quality
loan and deposit products, primarily for commercial clients. As of
December 31, 2018, Bridgewater had total assets of approximately $1.97
billion, total gross loans of $1.66 billion, total deposits of $1.56
billion and total shareholders’ equity of $221.0 million.

Forward-Looking Statements

This press release 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 Bridgewater. 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 risks described in
the “Risk Factors” sections of reports filed by Bridgewater with the
Securities and Exchange Commission. Any forward-looking statement made
by us in this press release is based only on information currently
available to us and speaks only as of the date on which it is made. We
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.

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