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Waterstone Financial, Inc. Announces Results of Operations for the Quarter and Nine Months Ended September 30, 2025

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  • Waterstone Financial, Inc. reported net income of $7.9 million ($0.45 per diluted share) for the quarter ended September 30, 2025, compared to $4.7 million ($0.26 per diluted share) for the same period in 2024.
  • Consolidated earnings per share increased 73.1% year-over-year, driven by improved net interest margins & strong asset quality metrics.
  • The Community Banking segment achieved pre-tax income of $8.4 million, a 49.4% increase from $5.6 million in the prior year quarter.
  • Net interest income for the Community Banking segment rose 19.3% to $14.6 million, fueled by higher loan yields & reduced funding costs.
  • Net interest margin for the Community Banking segment expanded 63 basis points to 2.76% from 2.13% in the prior year quarter.
  • The Mortgage Banking segment recorded pre-tax income of $1.3 million, marking the second consecutive quarter of profitability after earning $144,000 in the prior year.
  • Mortgage loan originations decreased 3.5% to $539.4 million, with purchase activity accounting for 90.1% of total originations.
  • Nonperforming assets represented 0.27% of total assets as of September 30, 2025, down from 0.37% in June 2025.
  • The company declared a quarterly dividend of $0.15 per share & repurchased approximately 270,000 shares for $3.8 million ($14.15 per share).
  • Book value per share increased to $18.65 at September 30, 2025, up from $17.53 at December 31, 2024.
  • Consolidated return on average assets annualized to 1.42% for the quarter, compared to 0.83% in the prior year.
  • Consolidated return on average equity annualized to 9.14% for the quarter, compared to 5.55% in the prior year.
  • Average core retail deposits grew 5.2% to $1.31 billion, while brokered certificates of deposits averaged $61.8 million for the quarter.
  • Total assets reached $2.269 billion as of September 30, 2025, with total loans receivable net of allowance standing at $1.697 billion.