Waterstone Financial Q2 net income drops to $8.0M from $17.9M; EPS $0.36 vs $0.74

Waterstone Financial, Inc.

2022-Q2 EPS reported $0.58

Net income $8.0M ($0.36 diluted) vs $17.9M ($0.74) in Q2 2021; six-month EPS $0.58 vs $1.64.
Mortgage banking pre-tax income $2.3M vs $14.2M; originations $778.8M (-26.9% YoY); gross margin 3.76% vs 4.81%.
Community banking pre-tax income $8.0M (-17.7% YoY); net interest margin up 24bp to 3.02%.
Repurchased ~1.4M shares for $24.2M during Q2; dividend declared $0.20/share.
Nonperforming assets 0.39% of total assets vs 0.20% a year ago; past due loans 0.60%.

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