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 $5.3 million, or $0.25 per diluted share, for Q3 2022, down from $19.0 million, or $0.79 per share a year earlier. For the nine months ending September 30, 2022, net income per share was $0.83, compared to $2.43 in 2021. The community banking segment saw strong loan growth and a net interest income increase of 10.1%. However, the mortgage banking segment experienced significant challenges, with loan originations down 26.9% and non-interest income decreasing by 46.8%. The efficiency ratio improved, but overall performance signals cautious outlooks.
The Board of Directors of Waterstone Financial has declared a quarterly cash dividend of $0.20 per common share, set to be paid on November 1, 2022. Shareholders of record by the close of business on October 10, 2022 will receive this dividend. Waterstone Financial serves as the holding company for WaterStone Bank, which has provided banking services since 1921 and offers a range of personal and business banking products across multiple branches in Wisconsin.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported net income of $8.0 million, or $0.36 per diluted share, for Q2 2022, down from $17.9 million, or $0.74 per diluted share, in Q2 2021. Six-month net income per diluted share was $0.58 vs. $1.64 last year. Strong loan growth in the community banking segment was noted, despite a 26.9% drop in mortgage loan originations. The company repurchased 1.4 million shares for $24.2 million. Nonperforming assets increased to 0.39% of total assets. Average deposits remained stable at $1.21 billion.
WaterStone Bank has launched a new checking product, Stepping Stone®, certified by the Cities for Financial Empowerment Fund to meet national account standards. This account features numerous benefits, including no monthly fees, no overdraft fees, and digital bill pay capabilities. The launch aims to enhance access to banking services for unbanked individuals, with the account available at all 14 WaterStone Bank branches and online. The certification underscores the bank’s commitment to providing safe and affordable financial products.
Waterstone Financial, Inc. (NASDAQ: WSBF) announced a quarterly cash dividend of $0.20 per common share on June 23, 2022. The dividend is set to be paid on August 2, 2022 to shareholders recorded by the close of business on July 11, 2022. Waterstone Financial serves as the savings and loan holding company for WaterStone Bank, which offers a wide range of banking products across multiple branches in Wisconsin. Established in 1921, the bank also operates Waterstone Mortgage, lending in 48 states.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported a net income of $5.3 million, or $0.23 per diluted share for Q1 2022, a significant decline from $21.3 million, or $0.89 per share in Q1 2021. The return on average assets fell to 1.00% from 3.99%, while average loans decreased by 10.6% to $1.20 billion. The community banking pre-tax income dropped 40.6%, and loan originations in mortgage banking fell 36.5%. Despite these challenges, the company continued to provide value through dividends and buybacks, with a declared dividend of $0.20 per share.
On March 15, 2022, the Board of Directors of Waterstone Financial declared a quarterly cash dividend of $0.20 per common share. This dividend is payable on May 3, 2022, to shareholders of record as of April 11, 2022. Waterstone Financial, operating as a savings and loan holding company for WaterStone Bank since 1921, provides a comprehensive range of personal and business banking products. The Bank has multiple branches across Wisconsin and is affiliated with Waterstone Mortgage, which offers lending in 48 states.
Waterstone Financial (NASDAQ: WSBF) reported a net income of $12.6 million, or $0.53 per diluted share for Q4 2021, down from $27.8 million or $1.17 per share in Q4 2020. For the year ended December 31, 2021, net income per diluted share was $2.96, compared to $3.30 in 2020. The company announced a new 3.5 million share repurchase program and a special dividend of $0.50. Significant challenges included a 22.6% drop in loan originations and a 40.6% decrease in mortgage banking non-interest income.
Waterstone Financial, Inc. (NASDAQ: WSBF) has announced key management changes as of January 24, 2022. William Bruss has been elected President of the Company and its subsidiary, WaterStone Bank. Douglas Gordon remains CEO since 2007. Julie Glynn and Ryan Gordon were appointed Executive Vice Presidents, joining Chief Financial Officer Mark Gerke. CEO Doug Gordon highlighted the management team's strength and their strategic experience. Bruss has been with the Bank since 1997, while Glynn and Ryan Gordon bring extensive retail banking and credit administration expertise, respectively.
On December 15, 2021, Waterstone Financial, Inc. (NASDAQ: WSBF) announced a quarterly cash dividend of $0.20 per share and a special cash dividend of $0.50 per share. Both dividends are scheduled for payment on February 1, 2022, to shareholders on record by the close of business on January 10, 2022.
Waterstone Financial serves as the savings and loan holding company for WaterStone Bank, which has been operating since 1921, providing a variety of banking products across several 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?
