Bridgewater Bancshares Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Bridgewater Bancshares Inc. on December 22, 2022. The report addresses a change in the company's independent registered public accounting firm following the completion of the audit for the fiscal year ended December 31, 2022.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed CliftonLarsonAllen LLP (CLA) effective December 20, 2022, upon completion of the 2022 audit.
- Engagement of New Auditor: RSM US LLP was engaged as the new independent registered public accounting firm, effective January 1, 2023, for the fiscal year ending December 31, 2023.
- Audit History: Reports issued by CLA for the years ended December 31, 2021, and 2020 were unqualified and did not contain adverse opinions or disclaimers.
- Disagreements: The company reported no disagreements with CLA regarding accounting principles, practices, or audit scope during the 2020-2022 period.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on future performance. No risks or contingencies related to financial operations were disclosed in this specific report. The transition of auditors was described as a standard procedure with no reported "reportable events" requiring disclosure under Regulation S-K.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the attached letter from CliftonLarsonAllen LLP (Exhibit 16.1).
- Confirm the effective date of the new audit engagement with RSM US LLP (January 1, 2023).
- Review the upcoming 2022 Annual Report (10-K) for the first financial statements audited by the new firm.
- Monitor future filings for any subsequent changes in accounting policies or audit opinions.