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Jun 30, 2020
Waterstone Financial Q2 2020 Earnings Report
Reported record earnings driven by mortgage banking income and community bank segment performance.
Key Takeaways
Waterstone Financial, Inc. reported a significant increase in net income for the quarter ended June 30, 2020, with earnings of $20.9 million, or $0.85 per diluted share, compared to $9.6 million, or $0.37 per diluted share, for the same quarter in 2019. The increase was driven by record quarterly earnings in the mortgage banking segment and the launch of a new digital banking platform in the Community Bank segment.
Consolidated net income totaled $20.9 million, compared to $9.6 million for the quarter ended June 30, 2019.
Consolidated return on average assets was 3.87% compared to 1.95% for the quarter ended June 30, 2019.
Consolidated return on average equity was 22.39% compared to 9.96% for the quarter ended June 30, 2019.
Dividends declared totaled $0.12 per share and $6.1 million of shares were repurchased.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties, including changes in interest rates, demand for products and services, competition, banking regulation, tax laws, technological advances, governmental and regulatory policy changes, contingencies, customer behavior, real estate values, and national and local economies, including the impact of COVID-19.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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