Bridgewater Bancshares, a Minnesota commercial bank with $1.6 billion in total assets, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The Bloomington , MN-based company was founded in 2005 and booked $57 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol BWB. Bridgewater Bancshares filed confidentially on December 1, 2017. Sandler O'Neill and D.A. Davidson are the joint bookrunners on the deal. No pricing terms were disclosed.
