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Jun 30, 2022
Waterstone Financial Q2 2022 Earnings Report
Reported a decrease in net income and EPS compared to the same quarter last year, while community banking segment showed strong loan growth and the mortgage banking segment focused on efficiencies.
Key Takeaways
Waterstone Financial, Inc. reported net income of $8.0 million, or $0.36 per diluted share, for the quarter ended June 30, 2022. This is a decrease compared to the $17.9 million, or $0.74 per diluted share, reported for the quarter ended June 30, 2021. The community banking segment experienced strong loan growth, particularly in commercial real estate, while the mortgage banking segment focused on maintaining profitability amidst decreased origination volumes due to higher interest rates.
Net income decreased to $8.0 million, or $0.36 per diluted share, compared to $17.9 million, or $0.74 per diluted share, for the same quarter last year.
Community banking segment achieved strong loan growth, especially in the commercial real estate market.
The company reduced borrowings and funded loan growth through raised deposits.
Mortgage banking segment focused on efficiencies to remain profitable amid decreased origination volumes due to higher interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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