Quarterly ResultMay 7, 2026, 04:08 PM
Waterstone Financial Q1 Net Income +97.5% to $6.0M; EPS $0.35
AI Summary
Waterstone Financial, Inc. reported a significant increase in net income and earnings per share for the first quarter of 2026, driven by strong growth in both net interest income and mortgage banking income. Net income nearly doubled, reaching $5.997 million, while basic EPS rose to $0.35. The company also increased its cash dividend per share and continued its common stock repurchase program.
Key Highlights
- Net income increased by 97.5% to $5.997 million for Q1 2026, up from $3.036 million in Q1 2025.
- Basic earnings per share rose by 105.9% to $0.35 in Q1 2026, compared to $0.17 in Q1 2025.
- Net interest income grew by 23.0% to $15.463 million for Q1 2026, from $12.576 million in Q1 2025.
- Mortgage banking income increased by 20.5% to $18.950 million in Q1 2026, up from $15.728 million in Q1 2025.
- Provision for credit losses was $264,000 in Q1 2026, compared to a credit of $558,000 in Q1 2025.
- Cash dividend declared was $0.17 per share in Q1 2026, an increase from $0.15 per share in Q1 2025.
- The company repurchased $4.395 million of common stock in Q1 2026, up from $3.173 million in Q1 2025.
- Total assets decreased slightly by 0.37% to $2.251 billion at March 31, 2026, from $2.259 billion at December 31, 2025.
Price Impact
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