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Mar 31, 2024
Waterstone Financial Q1 2024 Earnings Report
Reported a net income increase driven by improved performance in the Mortgage Banking segment.
Key Takeaways
Waterstone Financial, Inc. reported a net income of $3.0 million, or $0.16 per diluted share, for the quarter ended March 31, 2024, compared to a net income of $2.2 million, or $0.10 per diluted share, for the quarter ended March 31, 2023. The current year reflects a $0.04 per share one-time charge related to a change in Wisconsin state tax law.
Net income increased to $3.0 million, or $0.16 per diluted share, compared to $2.2 million, or $0.10 per diluted share, for the same quarter last year.
Mortgage Banking segment demonstrated improved performance with increased volumes and margin.
Community Banking segment is facing margin compression due to higher funding costs.
Past due loans as a percentage of total loans remained stable at 0.64%.
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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