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Sep 30, 2020
Waterstone Financial Q3 2020 Earnings Report
Net income increased compared to the same quarter last year, driven by strong performance in the mortgage banking segment.
Key Takeaways
Waterstone Financial, Inc. reported a significant increase in net income for the quarter ended September 30, 2020, with earnings per diluted share also increasing. The company's CEO highlighted the team's efforts leading to record quarterly profits and the ability to meet customer demands.
Net income for the quarter ended September 30, 2020 was $26.3 million, or $1.08 per diluted share, compared to $10.9 million, or $0.42 per diluted share for the quarter ended September 30, 2019.
Consolidated return on average assets was 4.78% for the quarter ended September 30, 2020 compared to 2.17% for the quarter ended September 30, 2019.
Consolidated return on average equity was 26.30% for the quarter ended September 30, 2020 and 11.15% for the quarter ended September 30, 2019.
Mortgage banking income increased $36.6 million, or 100.2%, to $73.1 million for the quarter ended September 30, 2020, compared to $36.5 million for the quarter ended September 30, 2019.
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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