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Sep 30, 2023
Waterstone Financial Q3 2023 Earnings Report
Reported a decrease in net income due to challenges from rising interest rates and an inverted yield curve, while returning capital to shareholders through share repurchases and dividends.
Key Takeaways
Waterstone Financial, Inc. reported a net income of $3.3 million, or $0.16 per diluted share, for the quarter ended September 30, 2023, compared to $5.3 million, or $0.25 per diluted share, for the quarter ended September 30, 2022. The Community Banking Segment showed strong asset quality and growth in loans and deposits, while the Mortgage Banking segment was negatively impacted by industry challenges.
Net income decreased to $3.3 million, or $0.16 per diluted share, compared to $5.3 million, or $0.25 per diluted share, in the same quarter last year.
Community Banking Segment pre-tax income decreased by 33.8% to $5.7 million.
Mortgage Banking Segment pre-tax loss totaled $2.1 million, compared to $1.8 million loss in the same quarter last year.
Returned $9.6 million to shareholders through share repurchases and dividends.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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