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, Inc. (NASDAQ: WSBF) reported a net income of $2.2 million for Q1 2023, down from $5.3 million in Q1 2022. Earnings per diluted share were $0.10, compared to $0.23 a year ago. The Community Banking segment saw an 18.5% increase in pre-tax income due to a rise in net interest income, which grew 20.2% to $14.0 million. However, the Mortgage Banking segment faced challenges, reporting a pre-tax loss of $3.7 million, down from a pre-tax profit of $1.4 million a year earlier. Loan originations fell 37.5%, totaling $442.7 million. Despite the adverse market conditions, the company repurchased 373,000 shares at a cost of $5.8 million.
On March 22, 2023, the Board of Directors of Waterstone Financial declared a quarterly cash dividend of $0.20 per common share. This dividend is set to be paid on May 2, 2023, to shareholders on record by the close of business on April 10, 2023. Waterstone Financial, the holding company for WaterStone Bank, provides a variety of banking products and operates multiple branches across Wisconsin. Established in 1921, WaterStone Bank also offers lending services through Waterstone Mortgage, which covers 48 states.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported a significant drop in net income for Q4 2022, totaling $935,000, or $0.04 per diluted share, down from $12.6 million, or $0.53 per diluted share, in Q4 2021. For the entire year, net income per diluted share decreased to $0.89 from $2.96 year-over-year. Noteworthy points include a 19.2% increase in net interest income, driven by a $156 million increase in the loan portfolio, although the mortgage banking segment faced challenges with a 45% drop in loan originations. The company also declared a dividend of $0.20 per share and repurchased approximately 159,000 shares at $16.53 each.
On December 15, 2022, Waterstone Financial, Inc. (NASDAQ: WSBF) declared a quarterly cash dividend of $0.20 per common share. This dividend is set to be paid on February 1, 2023, to shareholders of record by the close of business on January 9, 2023. Established in 1921, Waterstone Financial, through WaterStone Bank, offers various personal and business banking services across multiple branches in Wisconsin.
FAQ
What is the current stock price of Waterstone Financial (WSBF)?
What is the market cap of Waterstone Financial (WSBF)?
What is Waterstone Financial, Inc.?
What services does WaterStone Bank provide?
Where are WaterStone Bank branches located?
What is the focus of Waterstone Mortgage?
How is Waterstone Financial performing recently?
What recognition has Waterstone Financial received?
Where can I find more information about Waterstone Financial?
What are the main segments of Waterstone Financial?
How does Waterstone Financial generate its revenue?
What are the forward-looking statements by Waterstone Financial?
