ST. LOUIS PARK, Minn. (AP) — ST. LOUIS PARK, Minn. (AP) — Bridgewater Bancshares, Inc. (BWB) on Wednesday reported first-quarter net income of $11.6 million.

The St. Louis Park, Minnesota-based bank said it had earnings of 37 cents per share.

The company posted revenue of $53.9 million in the period. Its revenue net of interest expense was $30.5 million, which fell short of Street forecasts.

Bridgewater shares have fallen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.38, a drop of 42% in the last 12 months.

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