Waterstone Financial, Inc. reported a net income of $3.036 million for the quarter ended March 31, 2025, with diluted EPS of $0.17. The Community Banking segment showed strong performance with increased net interest income and margin, while the Mortgage Banking segment experienced a pre-tax loss due to decreased loan origination volumes and elevated legal expenses.
Consolidated net income remained stable at $3.0 million for both Q1 2025 and Q1 2024.
Community Banking segment's pre-tax income increased by 41.7% to $6.1 million, driven by a 6.9% increase in net interest income.
Mortgage Banking segment reported a pre-tax loss of $2.2 million, a significant decline from a $369,000 pre-tax income in the prior year.
Loan originations in the Mortgage Banking segment decreased by 20.1% to $387.7 million.
The press release contains forward-looking statements regarding expected financial and operating activities and results, which are subject to various risks and uncertainties.
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