Welcome to our dedicated page for Waterstone Finl Md news (Ticker: WSBF), a resource for investors and traders seeking the latest updates and insights on Waterstone Finl Md stock.
Waterstone Financial, Inc. reports recurring developments from its community banking and mortgage banking businesses as the savings and loan holding company for WaterStone Bank. WaterStone Bank offers personal and business banking products in southeastern Wisconsin, and WaterStone Mortgage Corporation originates residential mortgage loans for sale into the secondary market as a national lender licensed in 48 states.
Company news commonly covers quarterly operating results, net interest margin, loan yields, deposit funding costs, asset quality and allowance for credit losses. Updates also include mortgage loan origination trends, segment profitability, regular cash dividends, dividend increases and common-stock repurchase authorizations.
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.
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.