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Waterstone Financial, Inc. - WSBF STOCK NEWS

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.

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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.

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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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Waterstone Financial, Inc. (NASDAQ: WSBF) announced an expansion of its share repurchase program, authorizing the repurchase of up to an additional 2,000,000 shares of common stock. The total shares available for repurchase now stand at 2,224,852, representing approximately 11.2% of the company's issued and outstanding shares as of April 23, 2024. The timing and method of repurchases will depend on various factors, with the program subject to suspension, termination, or modification at any time.
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Waterstone Financial, Inc. (WSBF) announces a regular quarterly cash dividend of $0.15 per common share scheduled for payment on May 1, 2024.
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Waterstone Financial, Inc. reported a net loss of $40,000 for the quarter ended December 31, 2023, compared to net income of $935,000 for the same period in 2022. The company's Community Banking segment experienced a decrease in pre-tax income and net interest income, driven by a rise in short-term interest rates and an inverted yield curve. The Mortgage Banking segment also faced challenges with declining mortgage origination volumes and compressed margins. Despite these difficulties, the company's strong asset quality and robust level of capital allowed them to provide strong shareholder returns throughout 2023. Waterstone Financial, Inc. declared dividends of $0.70 per share and repurchased 1.9 million shares of their stock at an average price well below their current book value per share. However, the company experienced a negative return on average assets and equity, as well as a decrease in net interest margin for both segments.
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Waterstone Financial, Inc. (NASDAQ: WSBF) declares a regular quarterly cash dividend of $0.15 per common share, payable on February 1, 2024, to shareholders of record at the close of business on January 8, 2024.
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Waterstone Financial, Inc. reported a decrease in net income for the quarter ended September 30, 2023 compared to the same period last year. The Mortgage Banking segment was negatively impacted by industry challenges, while the Community Banking segment maintained strong asset quality metrics and achieved growth in loans and deposits. The company returned $9.6 million to shareholders through share repurchases and dividends declared.
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Waterstone Financial, Inc. announced that CEO Douglas S. Gordon will retire on December 31, 2023. William F. Bruss will be the next CEO starting January 1, 2024. Gordon will remain on the board of directors. Bruss, currently the President of the company and the bank, expressed gratitude and excitement for the opportunity to lead Waterstone.
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FAQ

What is Waterstone Financial, Inc.?

Waterstone Financial, Inc. is a savings and loan holding company operating primarily through WaterStone Bank and Waterstone Mortgage.

What services does WaterStone Bank provide?

WaterStone Bank offers personal and business banking products and services, including various loans, deposits, and personal investment services.

Where are WaterStone Bank branches located?

WaterStone Bank has branches in various locations in Wisconsin, including Wauwatosa, Brookfield, and Fox Point, along with a commercial lending branch in Minneapolis, Minnesota.

What is the focus of Waterstone Mortgage?

Waterstone Mortgage focuses on residential mortgage loans primarily for sale in the secondary market, with offices in 21 states and lending capabilities in 48 states.

How is Waterstone Financial performing recently?

Waterstone Financial's recent updates, including financial results from quarters ending in June 2023, September 2023, December 2023, and March 2024, show robust performance across its community and mortgage banking segments.

What recognition has Waterstone Financial received?

Waterstone Financial has been named a top 100 workplace in Southeastern Wisconsin by the Milwaukee Journal Sentinel every year since 2010.

Where can I find more information about Waterstone Financial?

For more detailed information, visit their website at wsbonline.com or contact Chief Financial Officer Mark R. Gerke at 414-459-4012 or markgerke@wsbonline.com.

What are the main segments of Waterstone Financial?

Waterstone Financial operates in two main segments: Community Banking and Mortgage Banking.

How does Waterstone Financial generate its revenue?

The vast majority of Waterstone Financial's revenue comes from the Community Banking segment, which provides consumer and business banking products and services.

What are the forward-looking statements by Waterstone Financial?

Forward-looking statements include expectations regarding financial and operating activities and results, subject to factors such as interest rates, competition, regulation, and economic conditions.

Waterstone Financial, Inc.

Nasdaq:WSBF

WSBF Rankings

WSBF Stock Data

281.89M
19.64M
18.63%
52.5%
0.95%
Savings Institutions
Finance and Insurance
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United States of America
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