Waterstone Financial, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 28, 2021 at 09:02 pm
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Waterstone Financial, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 14.316 million compared to USD 13.126 million a year ago. Net income was USD 27.835 million compared to USD 8.794 million a year ago. Basic earnings per share from continuing operations was USD 1.17 compared to USD 0.34 a year ago. For the full year, net interest income was USD 53.500 million compared to USD 52.197 million a year ago. Net income was USD 81.145 million compared to USD 35.903 million a year ago. Basic earnings per share from continuing operations was USD 3.32 compared to USD 1.38 a year ago. Diluted earnings per share from continuing operations was USD 3.3 compared to USD 1.37 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.