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 $27.8 million for Q4 2020, significantly up from $8.8 million in Q4 2019. This translates to $1.17 earnings per diluted share versus $0.34 a year prior. For the full year, net income per diluted share reached $3.30, up from $1.37. The bank declared $1.28 in dividends per share and repurchased 203,000 shares at a cost of $3.5 million. The mortgage banking segment saw a 65% increase in loan originations, totaling $1.28 billion.
On December 17, 2020, Waterstone Financial, Inc. (NASDAQ: WSBF) declared a first quarter 2021 dividend of $0.20 per common share, marking a significant 66% increase from 2020. The dividend will be distributed on February 2, 2021, to shareholders recorded by January 11, 2021. CEO Doug Gordon emphasized the company's strong financial performance and commitment to delivering shareholder value. This increase reflects confidence in ongoing financial health and effective capital management.
On November 17, 2020, Waterstone Financial, Inc. (NASDAQ: WSBF) declared a special dividend of $0.30 per common share, reflecting strong year-to-date performance and a solid financial position. CEO Doug Gordon highlighted that this dividend, payable on December 8, 2020 to shareholders of record as of December 1, 2020, was accelerated due to impressive earnings. The company remains committed to delivering value through a robust dividend payout, showcasing effective capital management strategies.
Waterstone Financial, Inc. (NASDAQ: WSBF) announced a net income of $26.3 million ($1.08 per diluted share) for Q3 2020, up from $10.9 million ($0.42 per diluted share) in Q3 2019. Year-to-date net income per share increased to $2.15 from $1.03. The company repurchased approximately 800,000 shares for $12.3 million and declared dividends of $0.12 per share. Mortgage banking income surged by 100.2% to $73.1 million, while community banking faced challenges with a 3.1% drop in net interest income.
On September 22, 2020, Waterstone Financial, Inc. (NASDAQ: WSBF) announced a quarterly dividend of $0.12 per common share, set to be paid on November 2, 2020. Shareholders must be on record by the close of business on October 12, 2020. Waterstone Financial operates as a savings and loan holding company for WaterStone Bank, which offers a wide range of banking products across several locations in Wisconsin and a commercial lending office in Minneapolis, MN.
Waterstone Financial, Inc. (NASDAQ: WSBF) reported net income of $20.9 million, or $0.85 per diluted share for Q2 2020, significantly up from $9.6 million, or $0.37 per diluted share in Q2 2019. The strong performance is attributed to record mortgage loan originations of over $1.1 billion, aiding nearly 5,000 homeowners. Key metrics include a return on average assets of 3.87% and an increase in average loans to $1.42 billion. However, the community banking segment saw a pre-tax income drop of 36.5%. The company declared dividends of $0.12 per share and repurchased $6.1 million of shares, reflecting a robust financial position.
Waterstone Financial (NASDAQ: WSBF) announced a new share repurchase program on July 21, 2020, authorizing the buyback of up to 2,000,000 shares, approximately 7.7% of its outstanding stock. This follows a previous program where 2,000,000 shares were repurchased at an average price of $15.65. The program is set to commence around July 29, 2020, and will be influenced by market conditions and available funds. Shares repurchased will be treated as authorized but unissued, and the program may be suspended or modified based on various factors.
The Board of Directors of Waterstone Financial has declared a quarterly dividend of $0.12 per common share. This dividend is payable on August 3, 2020, to shareholders of record as of the close of business on July 13, 2020. Waterstone Financial is the holding company for WaterStone Bank, which offers a comprehensive range of personal and business banking products. Established in 1921, the bank operates multiple branches across Wisconsin and has a commercial lending office in Minnesota.
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