10-K · February 26, 2026
Waterstone reported a stronger 2025 with net income of $26.402 million and diluted EPS of $1.48, driven by higher net interest income and margin expansion. Net interest income rose to $56.734 million and net interest…
Earnings analysis · 10-Q
WSBF earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Waterstone Financial, Inc. reported a solid performance in Q1 2026 with net income of $5.997 million, translating to an EPS of $0.34, up from $3.036 million and $0.17 in the prior year. Revenue also rose to $15.463…
Read full summary
Waterstone Financial, Inc. reported a solid performance in Q1 2026 with net income of $5.997 million, translating to an EPS of $0.34, up from $3.036 million and $0.17 in the prior year. Revenue also rose to $15.463 million, a significant increase compared to previous quarters, driven by improved net interest income and growing mortgage banking operations.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.34
- Segment
- Community Banking
- Segment
- Mortgage Banking
What stood out
-
Strong Year-Over-Year EPS Growth
EPS rose to $0.34 in Q1 2026 from $0.17 in Q1 2025, a 100% increase.
-
Increase in Total Revenue
Total revenue increased to $15.463 million, compared to $12.576 million in Q1 2025, representing a 23.7% year-over-year growth.
-
Improved Net Interest Income
Net interest income increased by $2.9 million, or 23.0%, to $15.5 million in Q1 2026.
-
Significant Growth in Mortgage Originations
Mortgage loan originations rose 31.1% to $508.3 million from $387.7 million in the previous year.
-
Share Repurchase Program Extended
Management authorized an additional 2,000,000 share repurchase program, bringing total availability to approximately 2.15 million shares.
-
Asset Quality Improvements
Allowance for credit losses remained stable at $17.7 million, while nonperforming assets increased slightly to $7.8 million.
What to watch
-
Increased Loan Losses
Provision for credit losses increased to $264,000 in Q1 2026 from a negative $558,000 in Q1 2025, indicating rising defaults.
-
Decrease in Cash Reserves
Cash and cash equivalents declined by 37.2% to $44.7 million from $71.1 million at year-end 2025.
-
Increase in Non-performers
Total non-accrual loans increased 21.2% to $7.5 million at March 31, 2026 compared with $6.2 million at December 31, 2025.
Management's outlook
Management expects continued growth in mortgages and net interest income but did not provide explicit numeric guidance.
Earlier filings 4
10-Q · November 6, 2025
Waterstone reported a stronger quarter driven by higher net interest income and margin expansion: net income rose to $7,926,000 and diluted EPS to $0.45 for Q3 2025, versus $4,728,000 and $0.26 in Q3 2024. Net interest…
10-Q · August 7, 2025
Waterstone reported solid quarter-on-quarter and year-over-year profitability driven by higher net interest income and margin expansion while mortgage banking revenue softened. Net income rose to $7.727M and diluted EPS…
10-Q · May 8, 2025
Q1 2025 showed stable EPS (diluted $0.17) and a material decline in total revenue driven by a drop in mortgage banking income. Net interest income improved to $12,576,000 and operating cash flow was strong at…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.