Bridgewater Bancshares announces executive leadership transitions

ST. LOUIS PARK, Minn. - Bridgewater Bancshares, Inc. (NASDAQ:BWB), a $432.85 million market cap financial institution trading at $15.79 per share, announced several upcoming executive leadership changes on Tuesday as part of its succession strategy to support continued growth and leadership continuity. According to InvestingPro data, the bank has maintained profitability over the last twelve months, with two analysts recently revising earnings expectations upward.

Mary Jayne Crocker, the company’s Chief Strategy Officer and first employee when the bank was founded in 2005, will retire effective February 15, 2026, and will join the Board of Directors of both Bridgewater and its banking subsidiary the following day.

Jeff Shellberg, currently Chief Credit Officer and a founding member of the bank, will transition to Deputy Chief Credit Officer on September 15, 2025, before retiring on October 9, 2026. He will remain on the Board of Directors after his retirement.

The company also announced three internal promotions effective September 15, 2025. Katie Morrell, currently Deputy Chief Credit Officer, will succeed Shellberg as Chief Credit Officer. Jessica Stejskal, Senior Vice President of Marketing, will assume a newly created role as Chief Experience Officer. Laura Espeseth, Chief Accounting Officer, will transition to a newly defined position as Chief Administrative Officer.

All three executives will join Bridgewater’s Strategic Leadership Team upon their promotions.

"Mary Jayne and Jeff are defining pillars of our growth story—leaders who helped build a $5 billion bank from the ground up," said Jerry Baack, Chairman and Chief Executive Officer, in the press release.

Bridgewater Bancshares, founded in 2005, operates nine branches across the Twin Cities area with total assets of $5.3 billion as of June 30, 2025, according to the company statement.

In other recent news, Bridgewater Bancshares reported its second-quarter 2025 earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.37, higher than the projected $0.34, marking an 8.82% earnings surprise. Additionally, Bridgewater Bancshares reported revenue of $36.08 million, which exceeded the anticipated $33.93 million. In a separate development, Ray Dalio has sold his remaining stake in Bridgewater Associates and stepped down from its board. This transaction marks the end of Dalio’s leadership at the hedge-fund firm he founded. Following his exit, Bridgewater Associates issued new shares to the Brunei Investment Agency, resulting in the Southeast Asian sovereign-wealth fund acquiring nearly a 20% stake in the company. These developments indicate significant changes in ownership and financial performance for Bridgewater.

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