Bloomington, MN–(PRWeb)–Bridgewater Bancshares Inc, (the “Company”) the holding company for Bridgewater Bank announced today that it has completed a private placement of $15 Million of the Company’s common stock. The Company plans to use the capital for strategic growth purposes which may include both organic and acquisition opportunities. Castle Creek Capital, based in Rancho Santa Fe, California, is the sole investor in this transaction.
“The bank has been committed to a growth strategy since its inception in 2005. This significant influx of capital provides us with new opportunities to escalate this strategy and continue expanding our footprint in the Twin Cities,” explained Chairman and Chief Executive Officer, Jerry Baack. “With this level of funding we will be able to immediately meet the emerging financing needs of our increasing client base.”
Bridgewater Bancshares has fueled past growth by raising capital through its existing client network and shareholder base, which includes 197 local entrepreneurs. The original capital raise in 2005 funded the bank’s launch with $10 million. Subsequent capital raises, dating back to 2008, have generated a total of $15 million.