Petersen enjoys wearing many hats at Twin Cities start-up

It took some chutzpah for Jerry Baack, Jeff Shellberg, and Rachael Petersen to start Bridgewater Bank, from scratch in 2005, when economists and finance experts aplenty were claiming that there were too many banks.

Six years and 23 profitable quarters later, however, their boldness has paid off. Bridgewater Bank, in Bloomington, Minn., is now a $380 million, two-branch bank well-positioned to continue growing, which makes Rachael Petersen a natural choice for inclusion among this year’s Outstanding Women in Banking selections.

“I was always fascinated with numbers,” Petersen said, so it made sense to study accounting at Concordia . . .

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