Welcome to our dedicated page for Waterstone Financial news (Ticker: WSBF), a resource for investors and traders seeking the latest updates and insights on Waterstone Financial stock.
Waterstone Financial, Inc. (WSBF) is a savings and loan holding company that operates primarily through its two subsidiaries: WaterStone Bank and Waterstone Mortgage. Established in 1921, WaterStone Bank offers a comprehensive range of personal and business banking products and services. With branches spread across various locations in Wisconsin including Wauwatosa, Brookfield, and Fox Point, the bank is rooted deeply in the community it serves. Additionally, it has a commercial lending branch in Minneapolis, Minnesota.
The Community Banking Segment of Waterstone Financial is the cornerstone of its operations, delivering consumer and business banking products. This segment provides various types of loans, deposits, and personal investment services, forming the majority of the company’s revenue stream.
On the other hand, the Mortgage Banking Segment focuses on residential mortgage loans primarily intended for sale in the secondary market. Waterstone Mortgage has a broad national footprint, with offices in 21 states, and the capability to lend in 48 states. This segment supports the company’s mission to provide comprehensive financial services to a wide range of customers.
Waterstone Financial has been recognized as a top 100 workplace in Southeastern Wisconsin by the Milwaukee Journal Sentinel every year since 2010. This accolade highlights the company’s commitment to fostering a positive work environment, contributing to its operational success.
Recent updates include the latest financial results from quarters ending in June 2023, September 2023, December 2023, and March 2024. These results underscore the company’s robust performance across its community and mortgage banking segments, despite the dynamic economic landscape. The company continues to anticipate the impact of various factors such as changes in interest rates, competition, and regulatory policies on its future operations.
For more detailed information, including forward-looking statements and latest financial results, please visit their website at wsbonline.com or contact Chief Financial Officer Mark R. Gerke at 414-459-4012 or via email at markgerke@wsbonline.com.
Waterstone Financial (WSBF) reported net income of $5.2 million ($0.28 per diluted share) for Q4 2024, compared to a net loss of $40,000 in Q4 2023. Full-year 2024 earnings were $1.01 per diluted share, up from $0.46 in 2023.
The Community Banking segment saw pre-tax income increase 26% to $6.7 million, with net interest income rising 6.9% to $12.9 million. Average loans held for investment reached $1.68 billion, up 1.3% year-over-year.
The Mortgage Banking segment reported a reduced pre-tax loss of $625,000 compared to a $6.0 million loss in Q4 2023. Loan originations increased 2.7% to $470.7 million, with purchase activity accounting for 82.1% of originations.
The company maintained shareholder returns through dividends of $0.15 per share and repurchased approximately 194,000 shares at $14.43 per share during Q4 2024.
Waterstone Financial (NASDAQ: WSBF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.15 per common share. The dividend will be paid on February 3, 2025, to shareholders who are recorded as holders at the close of business on January 8, 2025.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported net income of $4.7 million, or $0.26 per diluted share, for Q3 2024, compared to $3.3 million, or $0.16 per diluted share, in Q3 2023. The company's Community Banking segment saw growth in loan and core deposit balances, while maintaining strong asset quality metrics. The Mortgage Banking segment experienced a decrease in fundings but remained profitable due to cost control measures.
Key highlights include:
- Consolidated return on average assets: 0.83% (Q3 2024) vs 0.58% (Q3 2023)
- Dividends declared: $0.15 per common share
- Share repurchases: ~71,000 shares at $13.75 per share
- Book value per share: $17.58 (September 30, 2024)
- Community Banking pre-tax income: $5.6 million
- Mortgage Banking pre-tax income: $144,000
Waterstone Financial (NASDAQ: WSBF) has announced a regular quarterly cash dividend of $0.15 per common share. This dividend was declared by the company's Board of Directors on September 24, 2024. Shareholders who are on record at the close of business on October 8, 2024, will be eligible to receive the dividend. The payment is scheduled for November 1, 2024.
This announcement demonstrates Waterstone Financial's commitment to providing regular returns to its shareholders. The declaration of a quarterly dividend can be seen as a positive sign of the company's financial health and its ability to generate consistent cash flow.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported improved financial results for Q2 2024. Net income increased to $5.7 million ($0.31 per diluted share), up from $4.0 million ($0.20 per diluted share) in Q2 2023. The company's consolidated return on average assets rose to 1.02% from 0.74% year-over-year, while return on average equity improved to 6.84% from 4.41%.
The Community Banking segment faced challenges with net interest income decreasing by 15.1% to $11.2 million, and net interest margin declining by 46 basis points to 2.01%. However, average loans held for investment increased by 5.1% to $1.67 billion.
The Mortgage Banking segment showed significant improvement, with pre-tax income of $2.0 million compared to a $1.4 million loss in Q2 2023. Loan originations increased by 1.7% to $634.1 million, with purchase activity accounting for 92.7% of originations.
Waterstone Financial (NASDAQ: WSBF) announced on June 18, 2024, that its Board of Directors has approved a regular quarterly cash dividend of $0.15 per common share.
The dividend will be payable on August 1, 2024, to shareholders recorded by the close of business on July 8, 2024.
Waterstone Financial, Inc., the holding company for WaterStone Bank, reported a net income of $3.0 million for the quarter ended March 31, 2024, showing improvement from the previous year. The Mortgage Banking segment saw increased performance despite industry challenges, while the Community Banking segment faced margin compression. The company focused on maintaining strong asset quality and returning capital to shareholders through dividends and share repurchases.
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