Bridgewater Bancshares Acquires First Minnetonka City Bank
August 28, 2024
Bridgewater Bancshares, Inc. (parent of Bridgewater Bank) has acquired First Minnetonka City Bank in an all-cash merger, folding FMCB into Bridgewater Bank. The combined franchise will have roughly $4.9–$5.0 billion in total assets, $4.0 billion in deposits and nine full-service Twin Cities branches, and the deal is intended to deepen Bridgewater's Twin Cities presence while adding a granular deposit base and an investment advisory capability.
- Buyers
- Bridgewater Bancshares, Inc. (Bridgewater Bank)
- Targets
- First Minnetonka City Bank
- Sellers
- First Minnetonka Bancorporation, Inc.
- Industry
- Financial Services
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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