Waterstone Financial. Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
January 30, 2018 at 04:01 pm
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Waterstone Financial. Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net income of $3.115 million compared to $6.399 million a year ago. Net interest income was $13.324 million against $11.971 million a year ago. Income before income taxes was $9.187 million against $10.647 million a year ago. Return on average assets was 0.67% against 1.44% a year ago. Return on average equity was 2.98% against 6.19% a year ago. Net income per basic and diluted share was $0.11 as compared to $0.23 a year ago. Total interest income was $17.316 million against $16.062 million a year ago.
For the year, the company reported net income of $25.964 million compared to $25.532 million a year ago. Net interest income was $50.733 million against $43.444 million a year ago. Income before income taxes was $44.433 million against $41.994 million a year ago. Return on average assets was 1.43% against 1.45% a year ago. Return on average equity was 6.32% against 6.33% a year ago. Net income per diluted share was $0.93 as compared to $0.56 a year ago. Book Value per share was $13.95 against $13.33 a year ago. Total interest income was $67.095 million against $63.736 million a year ago.
Waterstone Financial, Inc. is the savings and loan holding company for WaterStone Bank SSB (the Bank). The Bank offers a suite of personal and business banking products. The Company's segments include community banking and mortgage banking. The community banking segment provides consumer and business banking products and services to customers. Its consumer products include loan products, deposit products, and personal investment services. Its business banking products include loans for working capital, inventory and general corporate use, commercial real estate construction loans, and deposit accounts. The mortgage banking segment, which is conducted through Waterstone Mortgage Corporation, consists of originating residential mortgage loans primarily for sale in the secondary market. The Bank has branches in Wauwatosa/State St, Brookfield, Fox Point/North Shore, Franklin/Hales Corners, Germantown/Menomonee Falls, Milwaukee/Oklahoma Ave, Oak Creek/Howell Ave and various others.