Bridgewater Bancshares Acquires First Minnetonka City Bank

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.