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) announced a new share repurchase program on December 10, 2021, authorizing the buyback of up to 3,500,000 shares, which represents about 14.1% of its total outstanding shares. This initiative follows the termination of a prior repurchase effort, during which 1,453,554 shares were bought at an average price of $17.16 each. The repurchase program will begin on December 13, 2021, and is subject to various market and financial conditions. It can be suspended or altered at any time.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported a net income of $19.0 million for Q3 2021, down from $26.3 million in Q3 2020. Diluted earnings per share fell to $0.79 from $1.08. Year-to-date, earnings per share improved to $2.43 compared to $2.15 in 2020. Pre-tax income in the community banking segment rose to $8.9 million, while mortgage banking pre-tax income fell to $15.6 million. Loan originations dropped 18.6% to $1.06 billion. Total dividends declared were $0.20 per share, with 178,000 shares repurchased for $3.5 million.
Waterstone Financial, Inc. (NASDAQ: WSBF) announced a quarterly dividend of $0.20 per share on September 21, 2021. This dividend is scheduled for payment on November 2, 2021, to shareholders recorded by October 11, 2021. Waterstone Financial is the holding company for WaterStone Bank, which offers a range of banking services through its multiple branches in Wisconsin and the ability to lend in 48 states.
Waterstone Financial, Inc. achieved the top ranking in Bank Director’s 2021 Bank Performance Scorecard, which evaluates the largest U.S. exchange-traded banks based on profitability, asset quality, and capital adequacy.
This recognition underscores the bank's strong performance, notably in its mortgage segment, which originated a record $4.5 billion in residential home loans. Additionally, the community banking division reported a 47% growth in transactional core deposits. The bank launched a new digital banking platform and opened its 14th branch during its 100th anniversary.
Waterstone Financial, Inc. (NASDAQ: WSBF) announced a net income of $17.9 million ($0.74 per diluted share) for Q2 2021, down from $20.9 million ($0.85 per diluted share) in Q2 2020. Year-to-date, net income per diluted share increased to $1.64, compared to $1.08 in 2020. A special dividend of $0.50 was declared. Key metrics included a 106.4% rise in pre-tax income for the Community Banking segment and a decrease in loan originations by 6.8% in the Mortgage Banking segment. Average deposits grew by 9.2% year-over-year. However, the efficiency ratio improved slightly to 44.79% from 45.86% in Q2 2020.
On June 15, 2021, the Board of Directors of Waterstone Financial declared a quarterly dividend of $0.20 per common share. This dividend is payable on August 3, 2021, to shareholders of record by the close of business on July 12, 2021. Waterstone Financial operates WaterStone Bank, established in 1921, which provides a wide range of banking products across multiple branches in Wisconsin. They also own Waterstone Mortgage, which offers lending services in 48 states.
On May 28, 2021, the Board of Directors of Waterstone Financial declared a special dividend of $0.50 per common share, payable on June 15, 2021, to stockholders of record by June 11, 2021. CEO Doug Gordon emphasized that this special dividend demonstrates the company's strong performance in 2021 and commitment to maintaining a robust dividend payout ratio, aimed at delivering shareholder value.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported a net income of $21.3 million or $0.89 per diluted share for Q1 2021, a significant increase from $6.1 million or $0.24 per diluted share in Q1 2020. The growth was driven by strong mortgage origination, with loan originations rising 57.3% to $1.12 billion. Average deposits increased 12%, while the efficiency ratio improved to 48.17%. The company declared dividends of $0.20 per share. Nonperforming assets reduced to 0.20% of total assets.
On March 16, 2021, Waterstone Financial, Inc. (NASDAQ: WSBF) announced a quarterly dividend of $0.20 per share, set to be paid on May 4, 2021. Shareholders must be on record by the close of business on April 12, 2021. Waterstone Financial is the holding company for WaterStone Bank, which offers a wide range of personal and business banking products across various branches in Wisconsin. Established in 1921, WaterStone Bank also operates Waterstone Mortgage, providing lending services in 48 states.
Waterstone Financial, Inc. (NASDAQ: WSBF) appointed Derek L. Tyus to its Board of Directors on February 8, 2021. Tyus, with extensive experience in financial markets and commercial real estate, aims to leverage his expertise for the organization's growth. He is currently the Chief Investment Officer at West Bend Mutual Insurance Company and has a robust background in investment and strategy. The Board, led by Chairman Pat Lawton, welcomes Tyus to enhance oversight and direction, emphasizing their commitment to community and diversity.
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