Waterstone Financial reports Q1 2016.
BANKING AND CREDIT NEWS-April 29, 2016-Waterstone Financial reports Q1 2016
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Waterstone Financial, Inc. (NASDAQ: WSBF) has reported consolidated net income of USD3.9 million for quarter ended March 31, 2016, compared to USD3.0 million for the quarter, the company said.
The company's community banking segment reported net income that totaled USD2.5 million for the quarter ended March 31, 2016, which represents a 53.5 percent increase compared to net income of USD1.6 million for the quarter ended March 31, 2015.
Net income of the company's mortgage banking segment totaled USD1.4 million for the quarter ended March 31, 2016, which was relatively flat compared to USD1.4 million for the quarter ended March 31, 2015.
The company's return on average assets totaled 0.90 percent for the three months ended March 31, 2016 compared to 0.69 percent for the three months ended March 31, 2015.
Waterstone continued a share repurchase program, under which 242,700 shares were repurchased at an average price of USD13.54 per share on the open market during the quarter ended March 31, 2016. Since the inception of the share repurchase plan in March of 2015, the company has repurchased a total of 5,836,453 shares at an average cost of USD12.96 per share.
Waterstone Financial, Inc. is a single-bank holding company headquartered in Wauwatosa, WI. With USD1.7 billion in assets Waterstone has 11 community bank branches in the metropolitan Milwaukee market, a loan production office in Minneapolis, Minnesota, and mortgage banking offices in 20 states around the country.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Apr 29, 2016|
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