Bridgewater Bank to acquire First Minnetonka City Bank.

Bridgewater Bank, a Canadian Schedule l chartered bank, agreed to acquire First Minnetonka City Bank, a bank. Financial terms were not disclosed. “We are very pleased to add a high quality and complementary Twin Cities community bank through a transaction that aligns with and accelerates our strategic priorities. First Minnetonka City Bank brings a granular core deposit base that creates balance sheet optionality and a loan mix that increases the diversification of our loan portfolio. In addition, the bank’s investment advisory platform will allow us to offer a more complete product set to our client base," Jerry Baack, Bridgewater Chairman and Chief Executive Officer.