Waterstone Financial Q1 net income falls to $2.2M from $5.3M; mortgage segment posts $3.7M loss

Waterstone Financial, Inc.

2023-Q1 EPS reported $0.10

Diluted EPS of $0.10 vs $0.23 YoY; consolidated ROAA 0.43% vs 1.00%.
Community banking pre-tax income up 18.5% to $6.4M; net interest margin 2.88%.
Mortgage banking pre-tax loss of $3.7M vs $1.4M income; originations down 37.5% to $442.7M.
Dividends declared $0.20 per share; repurchased ~373K shares at $15.65/share.
Nonperforming assets stable at 0.22% of total assets; book value $16.73.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Waterstone Financial, Inc. reported the quarter ended March 31, 2023 results: net income net income of $2.2 million, EPS $0.10 per diluted share.

Period: the quarter ended March 31, 2023
Net income: net income of $2.2 million
EPS: $0.10 per diluted share
Result: reported results

Exact text from the filing

Waterstone Financial, Inc. Announces Results of Operations for the Quarter Ended March 31, 2023 . WAUWATOSA, WI – 4/25/2023 – Waterstone Financial, Inc. (NASDAQ: WSBF), holding company for WaterStone Bank, reported net income of $2.2 million, or $0.10 per diluted share for the quarter ended March 31, 2023 compared to $5.3 million, or $0.23 per diluted share for the quarter ended March 31, 2022 .

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Source: SEC EDGAR

accession 0001437749-23-011008

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