GlobeNewswire·Apr 23, 2026, 4:01 PM ET

Waterstone Financial, Inc. Announces Results of Operations for the Three Months Ended March 31, 2026

WSBF

Waterstone Financial, Inc. reported net income of $6.0 million ($0.34 per diluted share) for the quarter ended March 31, 2026, compared to $3.0 million ($0.17 per diluted share) in the same period in 2025.
Consolidated return on average assets increased to 1.10% for the quarter ended March 31, 2026, from 0.57% in March 31, 2025, while return on average equity rose to 6.88% from 3.61%.
The community banking segment recorded a record net interest income of $15.2 million, a 22.8% increase year-over-year, driven by a net interest margin expansion to 2.97%.
The mortgage banking segment reported pre-tax income of $22,000 for the quarter, a significant improvement from a $2.2 million pre-tax loss in the prior year period.
Loan originations in the mortgage banking segment increased 31.1% to $508.3 million, with purchase activity accounting for 73.9% of total originations.
The company declared a quarterly dividend of $0.17 per share 83;000 and repurchased approximately 246,000 shares for $4.4 million during the quarter.
Total shareholder returns via buybacks 83;000 dividends amounted to $7.3 million for the quarter ended March 31, 2026.
Book value per share increased to $19.19 at March 31, 2026, from $19.03 at December 31, 2025.
Nonperforming assets as a percentage of total assets were 0.35% at March 31, 2026, while past due loans represented 0.58% of total loans.
Average core retail deposits grew 4.3% year-over-year to $1.33 billion, primarily due to increases in money market 83;000 demand deposit balances.
Professional fees in the mortgage banking segment decreased 88.9% to $152,000, largely due to the finalization of a legal settlement from the prior year.
The consolidated efficiency ratio for the quarter was 52.48%, an improvement from 59.66% in the same quarter of 2025.