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Jun 30, 2024
Waterstone Financial Q2 2024 Earnings Report
Reported net income and improved efficiencies in the Mortgage Banking segment.
Key Takeaways
Waterstone Financial, Inc. reported a net income of $5.7 million, or $0.31 per diluted share, for the quarter ended June 30, 2024. The results reflect efforts to improve efficiencies in the Mortgage Banking segment.
Net income was $5.7 million, or $0.31 per diluted share, for the quarter ended June 30, 2024.
Community Banking segment pre-tax income totaled $5.1 million for the quarter ended June 30, 2024, a decrease of 20.5% compared to the same period last year.
Mortgage Banking segment pre-tax income totaled $2.0 million for the quarter ended June 30, 2024, compared to a $1.4 million pre-tax loss for the same period last year.
Past due loans as a percentage of total loans was 0.76% at June 30, 2024.
Forward Guidance
Waterstone Financial faces challenges within the Mortgage Banking segment due to consumer demand, affordable inventory, and interest rates. The Community Banking segment deals with margin pressure from elevated short-term funding rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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