Business
Waterstone Financial, Inc. Announces Results of Operations for the Quarter and Year Ended December 31, 2019
WAUWATOSA, Wis., Jan. 30, 2020 (GLOBE NEWSWIRE) -- Waterstone Financial, Inc. (NASDAQ: WSBF), holding company for WaterStone Bank, reported net income of $8.8
About this update from Waterstone Financial, Inc.
[{"type":"text","content":"WAUWATOSA, Wis., Jan. 30, 2020 (GLOBE NEWSWIRE) -- Waterstone Financial, Inc. (NASDAQ: WSBF), holding company for WaterStone Bank, reported net income of $8.8 million, or $0.34 per diluted share for the quarter ended December 31, 2019 compared to $5.7 million, or $0.21 per diluted share for the quarter ended December 31, 2018. Net income per diluted share was $1.37 for the year ended December 31, 2019 compared to net income per diluted share of $1.11 for the year ended December 31, 2018.\n “We finished a successful fiscal 2019 with a record pre-tax income for a 4th quarter,” said Douglas Gordon, CEO of Waterstone Financial, Inc. “The record $11.8 million in consolidated 4th quarter pre-tax income represents a 62.2% increase over the prior year’s comparable quarter. The results are driven by a record pre-tax 4th quarter from the Community Banking segment and another successful quarter from the Mortgage Banking segment. During the quarter, the Community Banking segment achieved loan and deposit growth, while continuing to invest in technology and additional branch locations for the convenience of our customers. The Mortgage Banking segment continued to benefit from increased production volumes of refinance products, while maintaining a continued focus on cost discipline throughout the organization.” Highlights of the Quarter and Year Ended December 31, 2019 Waterstone Financial, Inc. (Consolidated) Consolidated net income of Waterstone Financial, Inc. totaled $8.8 million for the quarter ended December 31, 2019, compared to $5.7 million for the quarter ended December 31, 2018.Consolidated net income of Waterstone Financial, Inc. totaled $35.9 million for the year ended December 31, 2019, compared to $30.8 million for the year ended December 31, 2018.Consolidated return on average assets was 1.75% for the quarter ended December 31, 2019 compared to 1.18% for the quarter ended December 31, 2018.Consolidated return on average assets was 1.82% for the year ended December 31, 2019 compared to 1.64% for the year ended December 31, 2018.Consolidated return on average equity was 8.91% for the quarter ended December 31, 2019 and 5.58% for the quarter ended December 31, 2018.Consolidated return on average equity was 9.14% for the year ended December 31, 2019 and 7.60% for the year ended December 31, 2018. Dividends declared totaled $0.12 pe...