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Waterstone Financial, Inc. reported stronger results for the quarter and six months ended June 30, 2026. Quarterly net income was $8.5 million, or $0.49 per diluted share, compared with $7.7 million, or $0.43, a year earlier. For the first half of 2026, net income was $14.5 million and diluted EPS $0.84, up from $10.8 million and $0.59 in 2025.
Profitability metrics improved, with an annualized return on average assets of 1.52% and return on average equity of 9.65%. Consolidated quarterly net interest margin rose to 3.03%, the highest since late 2022, driven by higher loan yields and lower funding costs. The Community Banking segment posted record net interest income of $15.8 million and pre-tax income of $9.0 million, while maintaining low credit risk as nonperforming assets were 0.30% of total assets.
The Mortgage Banking segment generated $1.6 million of pre-tax income, down 20.2% year over year, as loan originations increased to $621.8 million but gross margin on loans sold declined to 3.60%. Capital returns remained meaningful: the company declared a $0.17 dividend per share and repurchased about 200,000 shares for $3.7 million, helping increase book value per share to $19.53 at June 30, 2026.
Waterstone Financial, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.17 per common share. The dividend will be paid on August 3, 2026 to shareholders of record at the close of business on July 8, 2026.
Waterstone Financial is the savings and loan holding company for WaterStone Bank, which operates 14 branches across southeastern Wisconsin and owns WaterStone Mortgage Corporation, a national mortgage lender.
Waterstone Financial, Inc. executive Mark Raymond Gerke, EVP and Chief Financial Officer, reported an option exercise and related share sale in company stock. He exercised options for 10,000 shares of Common Stock at $14.98 per share and sold 10,000 shares in an open-market transaction at a weighted average price of $18.3435 per share, with individual sale prices ranging from $18.25 to $18.50. After these transactions, he holds 30,034 shares directly, plus 1,881 shares held through a 401(k) and 42,545 shares held through an ESOP, indicating he retains a sizable ongoing stake.
Waterstone Financial, Inc. reported the results of its 2026 Annual Meeting of Shareholders. Shareholders elected three directors—Stephen Schmidt, Derek Tyus, and Molly Mulroy—to terms ending in 2029, each receiving over 11.2 million votes in favor.
Investors also ratified FORVIS MAZARS, LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 14,753,029 votes in favor. In advisory votes, shareholders approved executive compensation and expressed a clear preference to hold say‑on‑pay votes every one year, with 10,611,408 votes supporting the annual frequency. There were 18,161,733 shares outstanding and eligible to vote as of March 25, 2026, the meeting record date.
Waterstone Financial, Inc. reported stronger results for the three months ended March 31, 2026. Net income rose to $6.0 million from $3.0 million a year earlier, with basic earnings per share increasing to $0.35 from $0.17.
Net interest income improved to $15.5 million as deposit and borrowing costs declined, while mortgage banking income grew to $19.0 million. Asset quality remained solid, with non-accrual loans at 0.44% of total loans and total assets around $2.25 billion. The bank stayed well-capitalized with regulatory capital ratios far above minimums.
Waterstone Financial, Inc. has expanded its share repurchase program, authorizing the buyback of up to an additional 2,000,000 shares of common stock. Together with the remaining 148,285 shares from the prior authorization, the company now has 2,148,285 shares available for repurchase, equal to about 11.9% of its issued and outstanding shares as of April 27, 2026. Repurchases may occur over time through open-market purchases, block trades, private transactions, or under a Rule 10b5-1 trading plan, and the company can suspend, terminate, or modify the program at any time.
Waterstone Financial, Inc. reported stronger quarterly results for the three months ended March 31, 2026. Net income was $6.0 million, or $0.34 diluted EPS, up from $3.0 million, or $0.17, a year earlier, though down from $7.7 million, or $0.44, in the prior quarter.
The Community Banking segment delivered record first-quarter net interest income of $15.2 million, as net interest margin expanded to 2.97% from 2.47% a year ago. Average core retail deposits rose 4.3% year over year, while the efficiency ratio improved to 52.48% from 59.66%.
The Mortgage Banking segment returned to a small profit, with pre-tax income of $22,000 versus a $2.2 million loss a year ago. Loan originations increased 31.1% to $508.3 million, although gross margin on loans sold narrowed to 3.65% from 3.98%.
Asset quality remained solid, with nonperforming assets at 0.35% of total assets and past due loans at 0.58%. Book value per share rose to $19.19, and shareholders received $0.17 per share in dividends, while the company repurchased about 246,000 shares for $4.4 million, returning a total of $7.3 million through buybacks and dividends.
Waterstone Financial, Inc. is holding a virtual annual shareholder meeting on May 19, 2026, to elect three directors for terms expiring in 2029, ratify Forvis Mazars, LLP as auditor, and hold advisory votes on executive pay and the frequency of future pay votes.
Shareholders of record on March 25, 2026, when 18,161,733 common shares were outstanding, may vote online, by phone, or by mail. The proxy details governance practices, committee structures, and performance-based pay programs. In 2025, CEO William F. Bruss received total compensation of $785,156, including a $439,035 salary and $214,596 in annual incentive tied to metrics such as segment pre-tax income, loan and core deposit growth, and a 1.19% return on average assets.