2 Disclaimer Forward-Looking Statements This presentation 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 the Company. These statements are often, but not always, identified by words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized”, “target” and “outlook”, or the negative version of those words or other comparable words of a future or forward-looking nature. 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 following: interest rate risk, including the effects of changes in interest rates; effects on the U.S. economy resulting from the threat or implementation of new, or changes to, existing policies, regulations, regulatory and governmental agencies and executive orders, including with respect to tariffs, immigration, DEI and ESG initiatives, consumer protection, foreign policy, and tax regulations; fluctuations in the values of the securities held in our securities portfolio, including as the result of changes in interest rates; business and economic conditions generally and in the financial services industry, nationally and within our market area, including the level and impact of inflation, including future monetary policies of the Federal Reserve in response thereto, and possible recession; the effects of developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in several bank failures; credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within the Company’s loan portfolio or large loans to certain borrowers (including commercial real estate (CRE) loans); the overall health of the local and national real estate market; our ability to successfully manage credit risk; our ability to maintain an adequate level of allowance for credit losses on loans; new or revised accounting standards as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board, Securities and Exchange Commission (the SEC) or Public Company Accounting Oversight Board; the concentration of large loans to certain borrowers; the concentration of large deposits from certain clients, including those who have balances above current Federal Deposit Insurance Corporation insurance limits; our ability to successfully manage liquidity risk, which may increase our dependence on non-core funding sources such as brokered deposits, and negatively impact our cost of funds; our ability to raise additional capital to implement our business plan; our ability to implement our growth strategy and manage costs effectively; the composition of our senior leadership team and our ability to attract and retain key personnel; talent and labor shortages and employee turnover; the occurrence of fraudulent activity, breaches or failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; interruptions involving our information technology and telecommunications systems or third-party servicers; competition in the financial services industry, including from nonbank competitors such as credit unions, “fintech” companies and digital asset service providers; the effectiveness of our risk management framework; rapid technological changes implemented by us and other parties in the financial services industry, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequence to us and our customers, including development and implementation of tools incorporating artificial intelligence; the commencement, cost and outcome of litigation and other legal proceedings and regulatory actions against us; the impact of recent and future legislative and regulatory changes; risks related to climate change and the negative impact it may have on our customers and their businesses; the imposition of domestic or foreign tariffs or other governmental policies impacting the global supply chain and the value of products produced by our commercial borrowers; severe weather, natural disasters, wide spread disease or pandemics, acts of war or terrorism or other adverse external events, including ongoing conflicts in the Middle East and the Russian invasion of Ukraine; potential impairment to the goodwill the Company recorded in connection with acquisitions; risks associated with our integration of First Minnetonka City Bank (“FMCB”), including the possibility that the merger may be more difficult or expensive to integrate than anticipated and the effect of the merger on the Company’s customer and employee relationships and operating results; changes to U.S. or state tax laws, regulations and governmental policies concerning the Company’s general business, including changes in interpretation or prioritization of such rules and regulations; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry in general on investor or depositor sentiment regarding the stability and liquidity of banks, the effects of the current U.S. government shutdown and its impact on our customers; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the SEC. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. The Company 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. Certain of the information contained in this presentation is derived from information provided by industry sources. Although the Company believes that such information is accurate and that the sources from which it has been obtained are reliable, the Company cannot guarantee the accuracy of, and have not independently verified, such information. Use of Non-GAAP financial measures In addition to the results presented in accordance with U.S. General Accepted Accounting Principles (“GAAP”), the Company routinely supplements its evaluation with an analysis of certain non-GAAP financial measures. The Company believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors to help them understand the Company’s operating performance and trends, and to facilitate comparisons with the performance of peers. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of non-GAAP disclosures to the comparable GAAP measures are provided in this presentation.

3 The Finest Entrepreneurial Bank Company Overview Branch-Light Model in Attractive Twin Cities Market Name: Bridgewater Bancshares, Inc. Headquarters: St. Louis Park, MN Ticker: NASDAQ: BWB; BWBBP Assets: $5.4 Billion Loans: $4.2 Billion Deposits: $4.3 Billion Shareholders’ Equity: $497.5 Million Serving a Commercial-Focused Client Base Track Record of Profitability, Growth and Efficiency • CRE lending • Acquisition financing • Construction lending • Affordable housing financing • Long-term multifamily financing • Leases • Commercial & business lending • Business / treasury management • SBA lending • 1-4 family rentals • Personal banking CRE, 32% Multifamily, 37% C&D, 5% Leases, 1% C&I, 13% 1-4 Family, 12% Consumer, 0% $4.2B Business and Personal Banking Commercial Banking Loan Balances • Founded in 2005 by a group of banking industry veterans and local business leaders • Continuous profitability since the third month of operations • Proven ability to generate strong organic growth in the Twin Cities amidst ongoing market disruption • Expertise in commercial real estate with a focus in multifamily and affordable housing lending • Highly efficient operations with a branch-light model • Organizational focus on risk management with a long track record of superb asset quality Data as of September 30, 2025 BWB Planned Branch Closure (4Q25) Twin Cities Planned Denovo Branch (1Q26)

4 Strategic Leadership Team (SLT) with Broad Skill Sets and Industry Expertise Jerry Baack Chairman and Chief Executive Officer • Former regulator and responsible for all aspects of BWB formation • Lead founder of BWB in 2005 • 35+ years of banking experience Laura Espeseth Chief Administrative Officer • Oversees all aspects of finance and facilities • Joined BWB in 2017 • 20+ years of banking and public accounting experience Nick Place Chief Banking Officer • Oversees all aspects of client growth and relationship management, including lending, treasury management and deposits • Joined BWB in 2007 • 15+ years of banking experience Mary Jayne Crocker EVP and Chief Strategy Officer • Shapes long-term strategic plans and ensures alignment with company objectives • Joined BWB in 2005 • 30+ years of financial services experience Joe Chybowski President and Chief Financial Officer • Strategic insights across all aspects of the organization, including finance, capital and liquidity management • Joined BWB in 2013 • 15+ years of banking and capital markets experience Lisa Salazar Chief Operating Officer • Oversees operations, technology and product initiatives to drive efficiencies and enhance the overall client experience • Joined BWB in 2018 • 30+ years of banking experience Approximately 20% of BWB’s common shares were owned by Board and SLT members as of September 30, 2025, demonstrating strong alignment with shareholders Katie Morrell Chief Credit Officer • Oversees credit policies and practices and chairs the loan and credit risk management committees • Joined BWB in 2020 • 18+ years of financial services experience Jessica Stejskal Chief Experience Officer • Oversees marketing, community impact and project management • Joined BWB in 2014 • 14+ years of marketing experience

5 A Culture-Driven Growth Story Truly Unconventional Culture Highly Efficient Business Model Robust Balance Sheet Growth Proactive Risk Management • Entrepreneurial spirit unlike the culture of a typical bank • Modern headquarters with an open layout promoting team member and client collaboration • An award-winning workplace culture • Commitment to providing clients with quick answers, responsive support, simple solutions, and access to local decision makers • Long track record of generating robust organic loan growth • Emphasis on commercial real estate and multifamily lending with an increased focus on affordable housing • M&A-related market disruption has created client and talent acquisition opportunities to support loan and deposit growth • Opportunistic acquirer following successful bank acquisition in 2024 • Branch-light model with a commercial real estate focus • Efficient operating philosophy, including networking, banking tools and in-house expertise • Relatively low levels of expenses as a percent of total assets • Efficiency ratio consistently better than peer banks • Strong asset quality track record with consistently low levels of NCOs and NPAs • Conservative and decisive credit culture, including measured risk selection, consistent underwriting, active credit oversight and deep industry experience • Invest in scaling the risk management function to address emerging risks and support longer term growth outlook 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of September 30, 2025 (Source: S&P Capital IQ) Consistent Tangible Book Value1 Growth and Outperformance Tangible Book Value Per Share1 growth resumed in 1Q25 following a bank acquisition in 4Q24 230% 92% 4Q16 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 BWB Peer Bank Average2

Our Core Values 6 Unconventional. Our clients notice a difference. Responsive. Under promise, over deliver. Dedicated. Don’t stop until you get it done. Growth. If you aren’t moving forward, where are you going? Accurate. It’s more than just an expectation.

An Award-Winning Workplace Culture “In today’s environment, it is more important than ever to be able to recruit, retain and develop top talent. At Bridgewater, we have demonstrated an ability to do this through our unconventional culture and employee experience, extensive team member referral network, and a seasoned internship program to further enhance our talent pipelines.” Jerry Baack Chairman and CEO Top Workplaces Star Tribune 2016. 2017. 2018. 2020. 2021. 2022. 2023. 2024. 2025. Best Banks to Work For American Banker 2017. 2018. 2020. 2022. 2023. Corporate Headquarters Progressive Pay and Benefits Health and Wellness Committee Diversity, Equity and Inclusion Committee Volunteer Paid Time Off Modern, open design with an entrepreneurial spirit tailor-made for team building and collaboration Minimum wage of $20 per hour and discretionary bonuses for all team members regardless of level Providing team member opportunities to support physical fitness, nutrition and mental health Inclusive culture that encourages, supports and celebrates diversity of team members and communities in which we serve Team members receive up to 16 hours of PTO per year for volunteer activities supporting the Community Reinvestment Act 7

A Responsive Service Model Our clients can expect… • Responsive support and simple solutions • A local bank of choice in a market where many local banks have been acquired by out-of-state buyers • Flexibility, market expertise and strong network connections The “Proven Process” for Our Clients • BEST Business Bank • BEST Small Business Bank • BEST Commercial Mortgage Lender An Award-Winning Client Experience • BEST Business Bank • BEST Commercial Lender 8

A Commitment to Our Communities Our communities can expect… Bridgewater’s commitment to investing, lending and volunteering in ways that serve low-to-moderate income segments in the Twin Cities “Outstanding” Rating for Community Reinvestment Act Performance FDIC, 2023 $327K Total Contributions in 2024 1,654 Volunteer Hours in 2024 Empowering Women in Entrepreneurship In 2021, we established the BridgewatHER Network, a women’s networking cohort which brings together successful women in business and female entrepreneurs throughout the Twin Cities to network and share insights • Approximately 400 female entrepreneurs and business leaders • Events hosted at the BWB Corporate Center throughout the year • Led by BWB’s Chief Strategy Officer, Mary Jayne Crocker Mary Jayne Crocker EVP and Chief Strategy Officer 9

Environmental, Social and Governance (ESG) We are committed to establishing and advancing impactful initiatives that support our corporate responsibility as one of the largest locally-led banks in the Twin Cities, while regularly sharing our progress with our stakeholders Our ESG Commitment Our ESG Priorities Team Members, Clients and Communities Diversity, Equity and Inclusion Leverage our unconventional corporate culture to leave a positive lasting impact on our team members, clients and communities Ensure strong corporate governance oversight, including an effective risk management framework to support a growing organization Create a diverse, equitable and inclusive work environment and community Contribute to a healthier natural environment in the communities in which we live and work Corporate Governance Environmental ESG Oversight • Board-level Nominating and ESG Committee oversees Bridgewater's strategy and practices related to ESG • Management-level ESG Committee focuses on developing, implementing and growing a formal ESG program For more about Bridgewater’s commitment, priorities and initiatives related to ESG, please visit our ESG webpage at www.BWBMN.com/about-Bridgewater/esg 10

11 Attractive and Growing Twin Cities Market #3 Fortune 500 companies per capita (17)1 Large Corporate Presence #1 State with highest average credit score (742)2 Credit Worthy Population #6 Best state for economic opportunity3 Economic Opportunity #10 Top state for business4 Top State for Business #4 Best rental market for recent college graduates5 State to Move to Top 20 Most populated MSA in the U.S.6 Populated MSA 2.28% 0.95% Twin Cities Midwest Weighted Average $105,075 $81,775 Twin Cities Midwest Weighted Average Strong Market Demographics 2026 Median Household Income ($)6 2026 – 2031 Proj. Population Growth (%)6 1 Source: Minnesota Department of Employment and Economic Development (ranking among 30 largest metro areas) 2 Source: Experian – Average FICO Score by State, 2025 3 Source: U.S. News & World Report, 2025 4 Source: CNBC, 2025 5 Source: Realtor.com, 2025 6 Source: S&P Capital IQ

12 Bank-of-Choice For Twin Cities Clients Looking to Bank Local 1 Source: FDIC and S&P Capital IQ; includes banks with deposits in the Minneapolis-St. Paul MSA (data as of June 30 of each year) 2 Total assets as of September 30, 2025; excludes Ameriprise Financial Largest Minnesota-Based Banks by Total Assets1 $384.2 $18.9 $2.9 $1.6 $1.6 $1.5 $1.5 $1.5 $1.4 $1.4 $1.2 $0.7 U.S. Bank TCF Bank Bremer Bank Klein Bank Frandsen Bank & Trust Stearns Bank Think Mutual Bank Minnwest Bank Merchants Bank Anchor Bank Central Bank BWB 2014 26.76% 2.51% 1.14% 0.57% 0.09% 0.01% 0.08% $679.3 $5.4 $3.6 $2.9 $2.8 $2.7 $2.6 $2.1 $1.5 $1.4 $1.4 $1.4 U.S. Bank BWB Frandsen Bank & Trust Minnwest Bank Merchants Bank Tradition Capital Bank Sunrise Banks Think Mutual Bank Citizens Alliance Bank Park State Bank North American Bank Deerwood Bank 2025 2 41.21% 1.84% 0.27% 0.33% 0.16% 0.73% 0.33% 0.11% 0.05% 0.04% 0.49% 0.12% Acquired Acquired Acquired Acquired Acquired 0.07% 0.11% 0.59% 0.36% • Second largest locally-led bank in the Twin Cities • Significant Twin Cities market disruption with several local banks being acquired by out-of-market buyers • BWB has the scale and agility to be the bank-of-choice for local clients looking for a local bank with local decision-making • BWB’s YoY in-market deposit growth has exceeded Twin Cities MSA growth for 13 consecutive years Total Assets Deposit Market Share (Minneapolis-St. Paul MSA) #14 #2 0.27%

13 History of Robust Organic Asset Growth $1,184 $4,821 $76 $245 $929 $1,260 $1,617 $1,974 $2,269 $2,927 $3,478 $4,346 $4,612 $5,066 $5,360 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 Organic Acquired Assets Proven ability to consistently generate robust organic asset growth primarily in the Twin Cities market Emphasis on commercial real estate and multifamily lending with an increased focus on affordable housing Dollars in millions Ongoing evaluation of potential M&A opportunities to complement organic growth strategy Completed the acquisition of First Minnetonka City Bank in December 2024

14 Return to Normalized Levels of Loan Growth Dollars in millions 1 Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000 $3,752 $117 $3,686 $3,869 $4,020 $4,146 $4,215 3Q24 4Q24 1Q25 2Q25 3Q25 $2,819 $3,569 $3,724 $3,869 $4,215 2021 2022 2023 2024 3Q25 After moderating through much of 2024 due to the higher interest rate environment, organic loan growth returned in 4Q24 • 3Q25 loan balances increased 6.6% annualized • Near-term loan growth dependent on a variety of factors, including: • Market and economic conditions – economic uncertainty including the interest rate environment • Loan demand – M&A disruption and strong pipelines to support near-term growth, but economic uncertainty and increased competition could impact demand going forward • Loan payoffs and paydowns – pace of loan payoffs will continue to impact loan growth • Core deposit growth – recent core deposit momentum provides additional liquidity for more offensive-minded loan growth while remaining within target loan-to-deposit ratio range Strong track record of robust loan growth • Strong brand presence and relationships in the market allow us to get in front of high-quality clients and deals • Operating in a competitive “sweet spot” in the Twin Cities – financing larger deals than community banks, but under the radar of the larger banks • M&A-related market disruption has resulted in client and banker acquisition opportunities • Expansion of talented lending and treasury management teams • Recent growth in affordable housing with balances up 27% YTD annualized Gross Loans Acquired Gross Loans

15 Strong Diversification Within Key Portfolios 1 Includes formally subsidized properties (22%) and market rate properties with affordable set-asides (7%) Data as of September 30, 2025 Class A 27% Class B 10% Class C 34% Affordable Housing 29% Size YoY Growth Go-to-Market Strategy Competitors Growth Outlook Key Stats Portfolio Diversification Multifamily CRE Nonowner Occupied Construction & Development C&I Bank of choice in the Twin Cities market due to proven expertise and differentiated service model Knowledgeable lenders with efficient closing processes and ample capacity Responsive support, simple solutions and the local touch entrepreneurs are looking for Efficient underwriting process and deep knowledge in construction loan management Agency lenders, local banks and credit unions Local banks and life insurance companies Local and regional banks Local and regional banks Continued appetite given expertise and market opportunities Continued appetite given expertise and market opportunities Increased focus on expanding C&I through targeted verticals Return to growth following increased deal activity in late 2024 $3.4M Avg. Loan Size 67% Weighted Avg. LTV 98% Loans with Pass Rating $2.3M Avg. Loan Size 58% Weighted Avg. LTV 98% Loans with Pass Rating $513K Avg. Loan Size 0.03% 5-Year NCOs 98% Loans with Pass Rating $921K Avg. Loan Size 56% Weighted Avg. LTV 0.00% 5-Year NCOs Property Type Industrial 27% Office 18% Retail 16% Senior Housing 10% Mini Storage Facility 10% Medical Office 8% Other 11% Property Type RE, Rental and Leasing 42% Constr. 13% Manufact. 12% Prof. Services 8% Finance & Ins. 7% Trade 4% Accom. & Food Service 1% Other 13% Industry Residential 17% Multifamily 15% CRE Other 26% Land 42% Property Type $1,578M 37% of portfolio $1,159M 27% of portfolio $533M 13% of $202M portfolio 5% of portfolio 14% 12% 23% 8% 1

16 Well-Diversified Loan Portfolio With Multifamily and CRE Expertise CRE NOO 27% Multifamily 37% C&D 5% C&I 13% CRE OO 5% 1-4 Family 12% Leases 1% Consumer & Other 0% CRE NOO 27% Multifamily 21% C&D 15% C&I 13% CRE OO 6% 1-4 Family 18% Consumer & Other 0% $0.8B Evolution of Loan Mix by Type 2015 3Q25 Intentional mix shift toward Multifamily has aligned with the build-out of talent and expertise in the segment and continued strong performance CRE Concentrations (ex. Multifamily) Have Trended Lower Multifamily / Bank Risk-Based Capital CRE (ex. Multifamily) / Bank Risk-Based Capital $4.2B 354% 333% 318% 304% 313% 266% 264% 258% 232% 213% 220% 180% 164% 185% 177% 204% 190% 219% 257% 250% 249% 255% 534% 497% 503% 480% 517% 456% 483% 515% 482% 462% 475% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25

17 CRE Concentration Driven by a Proven, Lower Risk Multifamily Portfolio 1 Includes formally subsidized properties (22%) and market rate properties with affordable set-asides (7%) 2 FDIC (data through 2Q25) 3 Includes nonowner-occupied CRE, construction and land development, and 1-4 family construction Class A 27% Class B 10% Class C 34% Affordable Housing 29% (0.20)% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% Multi-family CRE 1-4 Family C&I C&D Consumer (ex. cards & auto) Total Loans Last 5 Years Last 10 Years Last 15 Years Last 20 Years Last 25 Years 3Q25 255% of Bank RBC Multifamily Traditional CRE3 220% of Bank RBC 475% of Bank RBC Multifamily Makes Up Over Half of CRE Concentration Multifamily Lending Approach Multifamily Portfolio Characteristics Drive Track Record of Strong Asset Quality WA LTV Avg. Loan Size Avg. Debt/Unit NCOs (since 2005) 67% $3.4M $86K $62K • Bank of choice in the Twin Cities with expertise and differentiated service model • Greater tenant diversification compared to other asset classes • Positive market trends with reduced vacancy rates, strong absorption, and slower construction = favorable outlook for occupancy and rent growth • Market catalysts include relative affordability, steady population growth, low unemployment, strong wages, and shortage of single-family housing Low Historical Losses vs. Other Asset Classes Average Historical Net Charge-Off Rates (all FDIC-insured banks)2 Portfolio Balance Affordable Housing Mix1 $1.6B 29% Increased Focus on Affordable Housing Product Type Well-Diversified by Size 5-19 Units 9% 20-49 Units 25% 50-99 Units 29% 100+ Units 37% Size 1 Properties Primarily Located In-Market Minnesota 87% National 13% Location

18 Unique Expertise in Affordable Housing Dollars in millions Data as of September 30, 2025 • Leveraging affordable housing expertise to support communities and clients in the Twin Cities and across the country • Active in the affordable housing space since 2008 • High barrier to entry due to complex nature of the transactions • Risk mitigants include working with experienced developers of scale across the country and the ongoing demand for affordable housing nationwide • 72% of the portfolio located in MN, 28% located out-of-state • Strong source of core deposit growth Expertise in the High-Quality Affordable Housing Space Multifamily 77% Construction 2% Land 3% Non-RE (equity bridge, TIF, etc.) 18% $611M Portfolio Mix $523 $507 $597 $581 $611 3Q24 4Q24 1Q25 2Q25 3Q25 Portfolio Growth Anatomy of an Affordable Housing Transaction Predevelopment Stage • Land acquisition (takedown) • Predevelopment financing • Entitlements and approvals Construction Stage • Construction financing • Equity investor contributions • Monthly draws Permanent Stage • Permanent financing • Final equity contributions • Stabilization and lease-up Sources of Funds ($000s) Budget Pre-development Construction Conversion Permanent 1st Mortgage Construction to Permanent Loan $ 20,000 $ - $ 20,000 $ - $ 20,000 LIHTC Equity 30,000 - 12,000 18,000 30,000 Equity Bridge Loan 15,000 - 15,000 (15,000) - Land Loan 2,000 2,000 - - - Corporate Line of Credit Advance 250 250 - - - Borrower Equity 500 500 - - - Letter of Credit (not drawn) 200 - - - - Total Source of Funds $ 67,950 $ 2,750 $ 47,000 $ 3,000 $ 50,000 Sample Affordable Housing Transaction 1 2 3 5 4 6 Corporate Line of Credit 6 1 4 Construction Loan 2 Letter of Credit Permanent Loan 5 Land Acquisition Financing 3 Equity Bridge Loan BWB has the ability to provide financing through one or more of the following parts of the transaction:

19 Managing Office-Related Risk 1 Excludes medical office of $91 million Data as of September 30, 2025 Percent of Total Loans Average Loan Size 5.0% $2.5M Weighted Average LTV 61% CRE NOO Office by Geography1 • Majority of CRE NOO office exposure in the Twin Cities suburbs • Only 4 loans totaling $28M located in Minnesota central business districts (CBDs), with one moved to nonaccrual in 1Q25 • 2 CBD loans being converted to multifamily • Only 4 loans totaling $22M outside of Minnesota (non-CBD), consisting of projects for existing local clients Well-Managed CRE NOO Office Exposure1 Twin Cities Suburban 55% Minneapolis-St. Paul (CBD) 13% Minneapolis -St. Paul (non-CBD) 19% Out-of-State (non-CBD) 11% Greater MN 2% $211M

20 Continued Core Deposit Momentum Dollars in millions A track record of strong deposit growth… • Strong and growing brand taking market share in the Twin Cities • New client and banker acquisition opportunities due to M&A disruption, including ONB/Bremer merger • Niche deposit verticals including property management companies, title companies and affordable housing • Supplemented core deposits with wholesale funding to support future loan growth and manage interest rate risk • YoY deposit growth of $545M, or 14.6% • YoY core deposit growth of $600M, or 22.4% • Improved deposit mix as noninterest bearing deposits increased $109M YoY while brokered deposits decreased $67M • Core deposit growth not always linear due to nature of the deposit base • Loan-to-deposit ratio of 98.2%, in the lower end of the 95% to 105% target range …with recent core deposit momentum 30% 26% 20% 20% 19% 18% 13% 19% 21% 20% 29% 30% 25% 10% 8% 8% 31% 33% 8% 8% 13% 23% 28% 20% 20% $2,946 $3,417 $3,710 $4,087 $4,293 2021 2022 2023 2024 3Q25 Noninterest-Bearing Transaction Interest-Bearing Transaction Savings and Money Market Time Brokered 19% 20% 19% 19% 19% 22% 21% 20% 19% 20% 26% 31% 33% 34% 33% 9% 24% 8% 8% 8% 8% 20% 20% 20% 20% $3,747 $4,087 $4,162 $4,237 $4,293 3Q24 4Q24 1Q25 2Q25 3Q25

21 A Spread-Based Revenue Model $25,421 $25,314 $24,631 $24,996 $25,599 $26,967 $30,208 $32,452 $34,091 $1,726 $1,409 $1,550 $1,763 $1,522 $2,533 $2,079 $3,627 $2,061 $27,147 $26,723 $26,181 $26,759 $27,121 $29,500 $32,287 $36,079 $36,152 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Revenue Growth Continues Dollars in thousands • Strong track record of revenue growth with a 10% revenue CAGR since 2019 • Spread-based revenue model with net interest income making up 93% of total revenue in 2025 YTD • Recent increase in noninterest income driven by: • Swap fees ($1.5M over the past five quarters) • Investment advisory fees ($746K YTD since FMCB acquisition) • 3Q25 noninterest income included one non-core item: • Sold $5.1M of securities a gain of $59K Spread Based Revenue Model…With Increased Fee Income Mix Net Interest Income Noninterest Income

22 NIM Expansion and Net Interest Income Growth $24,631 $26,129 $28,524 $30,815 $32,637 $968 $747 $719 $1,019 $966 $91 $965 $618 $488 $25,599 $26,967 $30,208 $32,452 $34,091 2.24% 2.32% 2.51% 2.62% 2.63% 2.16% 2.24% 2.37% 2.49% 2.52% 3Q24 4Q24 1Q25 2Q25 3Q25 Net Interest Margin1 Core Net Interest Income Loan Fees Net Interest Income and Margin Trends 2.62% 0.09% 0.08% 0.03% (0.14)% (0.06)% 0.03% 2.63% (0.01)% (0.01)% NIM (2Q25) Loan Fees Purchase Accounting Accretion Loans Investments Cash Deposits Sub Debt Other NIM (3Q25) Net Interest Margin Roll-forward 3Q25 Net Interest Income / Net Interest Margin Commentary 1 Amounts calculated on a tax-equivalent basis using statutory federal tax rate of 21% 2 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation Dollars in thousands Net Interest Income • Net interest income growth of 5% from 2Q25, driven by 16% annualized average interest earning asset growth • Included $488K of purchase accounting accretion income • Reduced loan fees as loan payoffs declined from 2Q25 Net Interest Margin • NIM increased 1 bp in 3Q25 as higher earning asset yields were partially offset by the subordinated debt refinance late in 2Q25, higher cash balances, and declining purchase accounting accretion income • 3Q25 NIM of 2.63% included 4 bps related to purchase accounting accretion Core NIM2 up 3 bps Core Net Interest Margin1,2 Purchase Accounting Accretion (PAA)

23 Well Positioned to Benefit in Rates-Down Environment 24% 24% 17% 15% 8% 12% $140 $143 $102 $86 $47 $71 Less Than 1 Year 1 to 2 Years 2 to 3 Years 3 to 4 Years 4 to 5 Years 5+ Years 21% 19% 17% 14% 13% 16% $608 $529 $470 $396 $382 $448 Less Than 1 Year 1 to 2 Years 2 to 3 Years 3 to 4 Years 4 to 5 Years 5+ Years Fixed, 67% Variable, 19% Adjustable, 14% Loan Portfolio Mix Fixed-Rate Portfolio ($2.8B) Variable-Rate Portfolio ($799M) Adjustable-Rate Portfolio ($588M) Years to Maturity • Large fixed-rate portfolio provides support to total loan yields in a rates-down environment • $608M of fixed-rate loans maturing over the next year, with a weighted average yield of 5.69% Variable-Rate Loan Floors • Smaller variable-rate portfolio limits immediate repricing pressure in a rates-down environment • 71% of variable-rate portfolio have rate floors, with 92% of the floors at or above 5% • 96% of variable-rate loans are currently tied to SOFR or Prime Adjustable-Rate Repricing/Maturity Schedule • Adjustable-rate loans likely to reprice higher, even in a rates-down environment • $140M of adjustable-rate loans repricing or maturing over the next year, with a weighted average yield of 3.85% Dollars in millions WA Yield 5.69% 5.02% 5.39% 5.47% 6.12% 4.15% WA Yield 3.85% 4.79% 4.48% 5.57% 6.56% 4.56% 5% 4% 26% 55% 10% $28 $20 $145 $313 $59 Below 4% 4%-5% 5%-6% 6%-7% Above 7% 30% of new loan originations YTD in 2025 were variable-rate

24 A Highly Efficient Business Model 42.0% 41.5% 53.0% 57.9% 54.2% 56.9% 56.3% 60.7% 61.5% 58.2% 2021 2022 2023 2024 3Q25 YTD BWB An Efficiency Ratio1 Consistently Below Peers 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation. 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of September 30, 2025 (Source: S&P Capital IQ) What Makes BWB So Efficient? An Efficient Operating Culture With a CRE-Focused, Branch-Light Model ~2x as many assets per FTE employee compared to the peer bank median2 9 Branches (peer bank median2 : 38) ~4x as many assets per branch compared to the peer bank median2 The higher cost of funds associated with a branch-light model is more than offset by lower overall operating expenses Total Expenses to Average Earning Assets (3Q25 YTD) 1.51% 2.62% 2.95% 2.08% 4.46% 4.70% BWB Peer Bank Average Peer Bank Median2 2 Interest Expense / Avg. Earning Assets Noninterest Expense / Avg. Earning Assets

25 Modernizing Technology Tools to Support Growth and Efficiency Client-Facing • Commercial online banking upgrade completed in 2023 • Collaborative technology tools integrated into BWB Corporate Center • Cybersecurity threat detection and response Scalable core to support growth outlook Core Banking Platform IT Strategy: improve client interactions, streamline processes, automate activities and embrace digital transformation IT Decision-Making: driven by unconventional culture, enhancing the client experience and improving organizational efficiencies IT Current State Loan and Deposit Infrastructure nCino • Enhanced commercial loan origination system that digitizes the end-to-end lending process Salesforce • Enhanced customer relationship management for lending and deposit opportunities Workflow Automation and Analysis ServiceNow • Scalable workflow automation platform to enhance internal efficiencies Snowflake • Real-time data analytics and visualization to support decision-making 2025 IT Focus Areas First Minnetonka City Bank Integration • Executed on a smooth and successful systems conversion with minimal client impact in 3Q25 Retail/Small Business Online Banking Upgrade • Launched an enhanced online banking experience in 3Q25 for retail and small business clients Microsoft 365 Adoption • Enhance organizational efficiencies through tools, including AI, that support productivity, document control and collaboration

26 Scaling Enterprise Risk Management Across a Growing Organization Manage and mitigate dynamic risks while enhancing shareholder value, being responsive to clients and delivering simple solutions in unconventional ways BWB Risk Management Philosophy Enterprise Risk Management Attributes in Place Today at BWB • Proactively addressing top and emerging risks across all risk categories • Continuing to scale a risk framework aligned with growth • Leveraging technology to enhance processes and controls while driving responsiveness • Reinforcing operational and financial resilience through all three lines of defense • Making investments to bolster organizational resiliency and third-party risk management • Proactively making incremental enhancements to ESG and DEI programs as well as committing to recruitment and retention strategies Making Investments to Proactively Identify and Mitigate Emerging Risks Credit Concentration Risk Information and Cybersecurity Risk Enterprise Risk and Compliance Financial Risk • Strong credit underwriting and administration program • Proactive credit risk oversight, analytics and portfolio monitoring as well as building upon the Bank’s stress testing capabilities • Expertise and specialization in key portfolios, including multifamily • Investing in enhanced infrastructure and security protocols • Proactively leveraging technology to meet the evolving digital needs of clients while maintaining safety and security • Effective risk culture and awareness model with ongoing training initiatives and tabletop simulations • Focus on recruitment and retention of highly skilled risk professionals across the Bank, including the addition of an Information Security Officer • Proactively monitoring internal and external trends to quantify changes in risk profile • Maintaining compliance with evolving regulatory expectations and broadening suite of products and services • Monitoring and managing balance sheet growth with an eye toward economic and interest rate volatility • Actively monitoring, maintaining and strategically deploying liquidity while developing long-term strategies for capital preservation • Broadening the bank’s liquidity risk management tools through expanded digital offerings and enhancements to the client experience

A Strong Credit Culture 5-Year Peak Annual Net Charge-off Ratio vs. Peers 5-Year Peak Quarterly Nonperforming Assets2 / Assets vs. Peers 0.03% BWB Peer Bank Median1 0.16% 0.20% BWB Peer Bank Median1 0.68% 1 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of September 30, 2025 (Source: S&P Capital IQ) 2 Nonaccrual loans, loans 90 days past due and foreclosed assets Data as of September 30, 2025 Asset Quality Consistently Outperforms Peers Consistent Underwriting Standards Active Credit Oversight Experienced Banking and Credit Teams • Robust credit policy and underwriting guidelines for all types of lending • No significant changes in portfolio composition – continued focus on multifamily expertise • No individual credit authority for lending staff • Enhanced credit concentration monitoring • Ongoing covenant testing to assess potential risks early • Proactively addressing repricing risk to identify potential cash flow strain well ahead of maturity • Seasoned credit team supporting loan growth and credit risk management • Solid lender and credit analyst expertise across segments, geographies and relationships 27

28 Credit Risk Management and Oversight Driving Strong Asset Quality $722 $639 $919 $301 $9,991 0.02% 0.01% 0.02% 0.01% 0.19% 2021 2022 2023 2024 3Q25 $40,020 $47,996 $50,494 $52,277 $56,390 1.42% 1.34% 1.36% 1.35% 1.34% 2021 2022 2023 2024 3Q25 Nonperforming Assets2 NPAs remain low despite one CBD office loan moving to nonaccrual in 1Q25 Allowance for Credit Losses Well-reserved compared to peer median ACL/Loans of 1.19%1 $(29) $(276) $202 $1,231 $287 0.00% (0.01)% 0.01% 0.03% 0.01% 2021 2022 2023 2024 YTD 3Q25 Net Charge-Offs Low net charge-off history Net Charge-Offs % of Average Loans $22,641 $28,049 $35,858 $21,791 $58,074 5.45% 5.52% 6.46% 3.80% 9.38% 2021 2022 2023 2024 3Q25 Substandard Loans Modest migration into Substandard Substandard Loans % of Total Bank Capital ACL % of Gross Loans 1 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of September 30, 2025 (Source: S&P Capital IQ) 2 Nonaccrual loans plus loans 90 days past due and still accruing and foreclosed assets Dollars in thousands NPAs % of Assets

29 High Quality Securities Portfolio AAA 22% AA 54% A 3% BBB 7% BB 1% NR 13% Rating Mix Derivatives Portfolio Offsetting AOCI Impact (dollars in thousands) $(27,863) $(25,175) $17,217 $14,278 $(11,416) $(5,563) 3Q24 3Q25 MTM Securities MTM Derivatives Net Impact on AOCI1 • No held-to-maturity securities • Securities portfolio average duration of 6.98 years • Average securities portfolio yield of 5.18% • AOCI / Total Risk-Based Capital of 0.9% vs. peer bank median of 4.8%2 1 Includes the tax-effected impact of $4,604 in 3Q24 and $2,244 in 3Q25 2 Includes publicly-traded banks on major exchanges with total assets between $3 billion and $10 billion as of June 30, 2025 (Source: S&P Capital IQ) 31% 32% 33% 36% 31% 17% 16% 15% 15% 21% 29% 17% 17% 18% 13% 16% 22% 23% 20% 18% 15% 13% 12% 11% 9% $665 $768 $765 $744 $826 3Q24 4Q24 1Q25 2Q25 3Q25 Mortgage-Backed Securities Municipal Bonds U.S. Treasuries Corporate Securities Securities Available for Sale Portfolio (dollars in millions) Other

14.5% 13.2% 11.9% 12.4% 12.5% 34.2% 32.2% 34.0% 32.7% 32.1% $2,290 $2,296 $2,357 $2,384 $2,393 3Q24 4Q24 1Q25 2Q25 3Q25 30 Ample Liquidity and Borrowing Capacity 1 Excludes $265M of pledged securities at September 30, 2025 Dollars in millions Off-Balance Sheet Liquidity as a % of Assets On-Balance Sheet Liquidity as a % of Assets Liquidity Position with 1.9x Coverage of Uninsured Deposits Significantly Enhanced Liquidity Position Since 2022 Funding Source 12/31/2022 9/30/2025 Change Cash and Cash Equivalents $ 4 8 $ 110 $ 6 2 Unpledged Securities1 549 561 12 FHLB Capacity 391 494 103 FRB Discount Window 158 994 836 Unsecured Lines of Credit 208 200 (8) Secured Line of Credit 26 3 4 8 Total $ 1,380 $ 2,393 $ 1,013 Available Balance

31 Stable Capital Position to Support Growth 1 Represents a Non-GAAP financial measure. See Appendix for Non-GAAP reconciliation Capital Priorities 1 3 2 Organic Growth Share Repurchases M&A 4 Dividends Drive profitability by supporting a proven organic loan growth engine Opportunistically return capital to shareholders by buying back stock based on valuation, capital levels and other uses of capital Review and evaluate M&A opportunities that complement BWB’s business model Have not historically paid a common stock dividend given market share opportunities 7.57% 7.48% 7.23% 7.39% 7.61% 7.73% 7.72% 7.90% 8.17% 7.36% 7.48% 7.40% 7.71% 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 8.47% 8.40% 8.48% 8.72% 9.07% 9.16% 9.21% 9.41% 9.79% 9.08% 9.03% 9.03% 9.08% 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Common Equity Tier 1 Capital Ratio Tangible Common Equity Ratio1 Recent Capital Actions • No share repurchases in 3Q25 • $13.1M remaining under current share repurchase authorization as of September 30, 2025

32 Near-Term Expectations • Mid-to-high single digit loan growth, dependent on the pace of core deposit growth • Focus on profitable growth while aligning loan growth with core deposit growth over time • Target loan-to-deposit ratio between 95% and 105% Balance Sheet Growth • Path to a 3.00% net interest margin by early 2027 • Dependent on pace of additional rate cuts and shape of the yield curve (assumes 50 bps of additional rate cuts through 2026) • Continued net interest income growth due to NIM expansion and loan growth outlook Net Interest Margin • Noninterest expense growth in line with asset growth over time • Continued investments in people and technology initiatives • Alignment of provision expense with loan growth and overall asset quality Expenses • Maintain stable capital levels in the current environment given the stronger growth outlook • Ongoing evaluation of potential share repurchases based on valuation, capital levels and other uses of capital Capital Levels

33 2025 Strategic Priorities Return to More Normalized Levels of Profitable Growth Continue to Gain Loan and Deposit Market Share Leverage Technology to Support Business Growth Execute on M&A Integration and Readiness Initiatives • Well positioned given efforts to optimize the balance sheet in 2024, including strong core deposit growth and reduced loan-to-deposit ratio • Leverage increased loan demand due to the more favorable interest rate environment • Continue to align loan growth with core deposit growth over time • Maintain strong credit quality through consistent underwriting standards and active credit oversight • Utilize the expanded branch footprint, including acquisition of FMCB and anticipated 2026 opening of a de novo branch in Lake Elmo, MN • Focus on expanding targeted verticals, including affordable housing, women business leaders and cannabis • Leverage affordable housing expertise to grow client base across the Twin Cities and nationally • Leverage marketplace disruption in the Twin Cities to attract new clients and top talent • Implement upgraded retail and small business online banking solution • Optimize recent technology investments, including the nCino commercial loan origination system and new CRM platform, as well as new AI tools to create efficiencies and enhance the client experience • Successfully complete systems integration of FMCB • Evaluate additional M&A opportunities that support BWB’s business model and growth outlook • Leverage recent M&A experience to optimize readiness and execution of future M&A opportunities Year-to-Date Progress (3Q25) • Loan growth of 12.0% annualized • Core deposit1 growth of 7.4% annualized • Deposit market share in the Twin Cities increased from 1.54% in 2024 to 1.84% in 20252 • Affordable housing growth of $104M, or 27.3% annualized • Successfully upgraded retail and small business online banking platform in 3Q25 • Successfully completed FMCB systems conversion in 3Q25 • Planned branch closure in December 2025 of one branch acquired from FMCB 1 Core deposits are defined as total deposits less brokered deposits and certificates of deposit greater than $250,000 2 Source: FDIC (data as of June 30th)

34 APPENDIX

35 Reconciliation of Non-GAAP Financial Measures Dollars in thousands September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Pre-Provision Net Revenue: Noninterest Income $ 1,522 $ 2,533 $ 2,079 $ 3,627 $ 2,061 Less: (Gain) Loss on Sales of Securities 2 8 - (1) (474) (59) Less: FHLB Advance Prepayment Income - - - (301) - Total Operating Noninterest Income 1,550 2,533 2,078 2,852 2,002 Plus: Net Interest Income 25,599 26,967 30,208 32,452 34,091 Net Operating Revenue $ 27,149 $ 29,500 $ 32,286 $ 35,304 $ 36,093 Noninterest Expense 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Total Operating Noninterest Expense $ 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Pre-provision Net Revenue $ 11,389 $ 12,688 $ 14,150 $ 16,363 $ 16,137 Plus: Non-Operating Revenue Adjustments (28) - 1 775 59 Less: Provision for Credit Losses - 2,175 1,500 2,000 1,100 Less: Provision for Income Taxes 2,686 2,309 3,018 3,618 3,495 Net Income $ 8,675 $ 8,204 $ 9,633 $ 11,520 $ 11,601 Average Assets $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 $ 5,372,443 Pre-Provision Net Revenue Return on Average Assets 0.96% 1.05% 1.13% 1.27% 1.19% Adjusted Pre-Provision Net Revenue: Net Operating Revenue $ 27,149 $ 29,500 $ 32,286 $ 35,304 $ 36,093 Noninterest Expense $ 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Less: Merger-related Expenses (224) (488) (565) (540) (530) Adjusted Total Operating Noninterest Expense $ 15,536 $ 16,324 $ 17,571 $ 18,401 $ 19,426 Adjusted Pre-Provision Net Revenue $ 11,613 $ 13,176 $ 14,715 $ 16,903 $ 16,667 Adjusted Pre-Provision Net Revenue Return on Average Assets 0.98% 1.09% 1.18% 1.31% 1.23% Core Net Interest Margin Net Interest Income (Tax-equivalent Basis) $ 25,905 $ 27,254 $ 30,464 $ 32,770 $ 34,614 Less: Loan Fees (968) (747) (719) (1,019) (966) Purchase Accounting Accretion: Loan Accretion - - (342) (425) (380) Bond Accretion - (91) (578) (152) (89) Bank-Owned Certificates of Deposit Accretion - - (7) (4) (6) Deposit Certificates of Deposit Accretion - - (38) (37) (13) Total Purchase Accounting Accretion - (91) (965) (618) (488) Core Net Interest Income (Tax-equivalent Basis) $ 24,937 $ 26,416 $ 28,780 $ 31,133 $ 33,160 Average Interest Earning Assets $ 4,595,521 $ 4,682,841 $ 4,928,283 $ 5,019,058 $ 5,223,139 Core Net Interest Margin 2.16% 2.24% 2.37% 2.49% 2.52% As of and for the quarter ended, September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Core Loan Yield Loan Interest Income (Tax-Equivalent Basis) $ 52,118 $ 52,078 $ 53,979 $ 58,122 $ 60,317 Less: Loan Fees (968) (747) (719) (1,019) (966) Loan Accretion - - (342) (425) (380) Core Loan Interest Income $ 51,150 $ 51,331 $ 52,918 $ 56,678 $ 58,971 Average Loans $ 3,721,654 $ 3,730,532 $ 3,899,258 $ 4,064,540 $ 4,132,987 Core Loan Yield 5.47% 5.47% 5.50% 5.59% 5.66% Efficiency Ratio: Noninterest Expense $ 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Less: Amortization Intangible Assets (9) (52) (230) (230) (230) Adjusted Noninterest Expense $ 15,751 $ 16,760 $ 17,906 $ 18,711 $ 19,726 Net Interest Income $ 25,599 $ 26,967 $ 30,208 $ 32,452 $ 34,091 Noninterest Income 1,522 2,533 2,079 3,627 2,061 Less: (Gain) Loss on Sales of Securities 2 8 - (1) (474) (59) Adjusted Operating Revenue $ 27,149 $ 29,500 $ 32,286 $ 35,605 $ 36,093 Efficiency Ratio 58.0% 56.8% 55.5% 52.6% 54.7% Adjusted Efficiency Ratio: Noninterest Expense $ 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Less: Amortization Intangible Assets (9) (52) (230) (230) (230) Less: Merger-related Expenses (224) (488) (565) (540) (530) Adjusted Noninterest Expense $ 15,527 $ 16,272 $ 17,341 $ 18,171 $ 19,196 Net Interest Income $ 25,599 $ 26,967 $ 30,208 $ 32,452 $ 34,091 Noninterest Income 1,522 2,533 2,079 3,627 2,061 Less: (Gain) Loss on Sales of Securities 2 8 - (1) (474) (59) Less: FHLB Advance Prepayment Income - - - (301) - Adjusted Operating Revenue $ 27,149 $ 29,500 $ 32,286 $ 35,304 $ 36,093 Adjusted Efficiency Ratio 57.2% 55.2% 53.7% 51.5% 53.2% Adjusted Noninterest Expense to Average Assets: Noninterest Expense $ 15,760 $ 16,812 $ 18,136 $ 18,941 $ 19,956 Less: Merger-related Expenses (224) (488) (565) (540) (530) Adjusted Noninterest Expense $ 15,536 $ 16,324 $ 17,571 $ 18,401 $ 19,426 Average Assets $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 $ 5,372,443 Adjusted Noninterest Expense to Average Assets (ann.) 1.31% 1.36% 1.41% 1.43% 1.43% As of and for the quarter ended,

36 Reconciliation of Non-GAAP Financial Measures Dollars in thousands December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 Efficiency Ratio: Noninterest Expense $ 48,095 $ 56,620 $ 59,320 $ 63,300 Less: Amortization Intangible Assets (191) (191) (100) (78) Adjusted Noninterest Expense $ 47,904 $ 56,429 $ 59,220 $ 63,222 Net Interest Income $ 109,509 $ 129,698 $ 105,174 $ 102,193 Noninterest Income 5,309 6,332 6,493 7,368 Less: (Gain) Loss on Sales of Securities (750) (82) 3 3 (385) Adjusted Operating Revenue $ 114,068 $ 135,948 $ 111,700 $ 109,176 Efficiency Ratio 42.0% 41.5% 53.0% 57.9% As of and for the year ended, September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Adjusted Diluted Earnings Per Common Share Net Income Available to Common Shareholders $ 7,662 $ 7,190 $ 8,620 $ 10,506 $ 10,588 Add: Merger-related Expenses 224 488 565 540 530 Less: FHLB Advance Prepayment Income - - - (301) - Less: (Gain) Loss on Sales of Securities 2 8 - (1) (474) (59) Total Adjustments 252 488 564 (235) 471 Less: Tax Impact of Adjustments (59) (107) (135) 56 (110) Adjusted Net Income Available to Common $ 7,855 $ 7,571 $ 9,049 $ 10,327 $ 10,949 Diluted Weighted Average Shares Outstanding 27,904,910 28,055,532 28,036,506 27,998,008 28,190,406 Adjusted Diluted Earnings Per Common Share $ 0.28 $ 0.27 $ 0.32 $ 0.37 $ 0.39 Adjusted Return on Average Assets Net Income $ 8,675 $ 8,204 $ 9,633 $ 11,520 $ 11,601 Add: Total Adjustments 252 488 564 (235) 471 Less: Tax Impact of Adjustments (59) (107) (135) 56 (110) Adjusted Net Income $ 8,868 $ 8,585 $ 10,062 $ 11,341 $ 11,962 Average Assets $ 4,703,804 $ 4,788,036 $ 5,071,446 $ 5,162,182 $ 5,372,443 Adjusted Return on Average Assets 0.75% 0.71% 0.80% 0.88% 0.88% Adjusted Return on Average Tangible Common Equity Adjusted Net Income Available to Common $ 7,855 $ 7,571 $ 9,049 $ 10,327 $ 10,949 Average Tangible Common Equity $ 373,769 $ 385,023 $ 379,156 $ 385,682 $ 400,081 Adjusted Return on Average Tangible Common 8.36% 7.82% 9.68% 10.74% 10.86% As of and for the quarter ended, September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Tangible Common Equity / Tangible Assets Total Shareholders' Equity $ 452,200 $ 457,935 $ 468,975 $ 476,282 $ 497,463 Less: Preferred Stock (66,514) (66,514) (66,514) (66,514) (66,514) Total Common Shareholders' Equity 385,686 391,421 402,461 409,768 430,949 Less: Intangible Assets (2,789) (19,832) (19,602) (19,372) (19,142) Tangible Common Equity $ 382,897 $ 371,589 $ 382,859 $ 390,396 $ 411,807 Total Assets $ 4,691,517 $ 5,066,242 $ 5,136,808 $ 5,296,673 $ 5,359,994 Less: Intangible Assets (2,789) (19,832) (19,602) (19,372) (19,142) Tangible Assets $ 4,688,728 $ 5,046,410 $ 5,117,206 $ 5,277,301 $ 5,340,852 Tangible Common Equity / Tangible Assets 8.17% 7.36% 7.48% 7.40% 7.71% Return on Average Tangible Common Equity Net Income Available to Common Shareholders $ 7,662 $ 7,190 $ 8,620 $ 10,506 $ 10,588 Average Shareholders' Equity $ 443,077 $ 455,949 $ 465,408 $ 471,700 $ 485,869 Less: Average Preferred Stock (66,514) (66,514) (66,514) (66,514) (66,514) Average Common Equity 376,563 389,435 398,894 405,186 419,355 Less: Effects of Average Intangible Assets (2,794) (4,412) (19,738) (19,504) (19,274) Average Tangible Common Equity $ 373,769 $ 385,023 $ 379,156 $ 385,682 $ 400,081 Return on Average Tangible Common Equity 8.16% 7.43% 9.22% 10.93% 10.50% As of and for the quarter ended,

37 Reconciliation of Non-GAAP Financial Measures Tangible Book Value Per Share December 31, 2016 March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 March 31, 2019 Book Value Per Common Share $ 4.69 $ 4.91 $ 5.23 $ 5.43 $ 5.56 $ 6.62 $ 6.85 $ 7.01 $ 7.34 $ 7.70 Less: Effects of Intangible Assets (0.16) (0.16) (0.16) (0.16) (0.16) (0.13) (0.12) (0.12) (0.12) (0.12) Tangible Book Value Per Common Share $ 4.53 $ 4.75 $ 5.07 $ 5.27 $ 5.40 $ 6.49 $ 6.73 $ 6.89 $ 7.22 $ 7.58 Total Common Shares 24,589,861 24,589,861 24,589,861 24,629,861 24,679,861 30,059,374 30,059,374 30,059,374 30,097,274 30,097,674 Tangible Book Value Per Share June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 September 30, 2021 Book Value Per Common Share $ 7.90 $ 8.20 $ 8.45 $ 8.61 $ 8.92 $ 9.25 $ 9.43 $ 9.92 $ 10.33 $ 10.73 Less: Effects of Intangible Assets (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.12) (0.11) Tangible Book Value Per Common Share $ 7.78 $ 8.08 $ 8.33 $ 8.49 $ 8.80 $ 9.13 $ 9.31 $ 9.80 $ 10.21 $ 10.62 Total Common Shares 28,986,729 28,781,162 28,973,572 28,807,375 28,837,560 28,710,775 28,143,493 28,132,929 28,162,777 28,066,822 Tangible Book Value Per Share December 31, 2021 March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Book Value Per Common Share $ 11.09 $ 11.12 $ 11.14 $ 11.44 $ 11.80 $ 12.05 $ 12.25 $ 12.47 $ 12.94 $ 13.30 Less: Effects of Intangible Assets (0.11) (0.11) (0.11) (0.11) (0.11) (0.10) (0.10) (0.10) (0.10) (0.10) Tangible Book Value Per Common Share $ 10.98 $ 11.01 $ 11.03 $ 11.33 $ 11.69 $ 11.95 $ 12.15 $ 12.37 $ 12.84 $ 13.20 Total Common Shares 28,206,566 28,150,389 27,677,372 27,587,978 27,751,950 27,845,244 27,973,995 28,015,505 27,748,965 27,589,827 Tangible Book Value Per Share June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Book Value Per Common Share $ 13.63 $ 14.06 $ 14.21 $ 14.60 $ 14.92 $ 15.62 Less: Effects of Intangible Assets (0.10) (0.10) (0.72) (0.71) (0.71) (0.69) Tangible Book Value Per Common Share $ 13.53 $ 13.96 $ 13.49 $ 13.89 $ 14.21 $ 14.93 Total Common Shares 27,348,049 27,425,690 27,552,449 27,560,150 27,470,283 27,584,732 As of and for the quarter ended, As of and for the quarter ended, As of and for the quarter ended, As of and for the quarter ended,