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Waterstone Financial reports Q4 2015 net income of USD3m.

BANKING AND CREDIT NEWS-March 2, 2016-Waterstone Financial reports Q4 2015 net income of USD3m

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Waterstone Financial, Inc. (NASDAQ: WSBF) has reported net income of USD3.1 million for the quarter ended December 31, 2015, compared to USD2.3 million for the quarter ended December 31, 2014 and USD5.2 million for the quarter ended September 30, 2015, the company said.

Net income totaled USD16.6 million for the year ended December 31, 2015, compared to USD12.7 million for the year ended December 31, 2014.

Highlights of the quarter and year ended December 31, 2015 include:

o Net income per diluted share was USD0.11 as compared to USD0.08 for the quarter ended December 31, 2014 and USD0.19 for the quarter ended September 30, 2015. Net income per diluted share totaled USD0.56 for the year ended December 31, 2015, compared to USD0.38 for the year ended December 31, 2014.

o Return on average assets totaled 0.94 percent for the year ended December 31, 2015 compared to 0.71 percent for the year ended December 31, 2014.

o Total loans increased USD19.9 million to USD1.11 billion at December 31, 2015 compared to USD1.09 billion at December 31, 2014.

o Transaction deposits increased USD32.0 million to USD243.3 million at December 31, 2015 compared to USD211.3 million at December 31, 2014. Demand deposits grew USD10.5 million or 11.4 percent and money market and savings deposits grew USD21.5 million or 18.0 percent at December 31, 2015 compared to December 31, 2014.

Total non-performing assets decreased USD7.2 million, or 21.2 percent, to USD26.8 million at December 31, 2015 from USD34.0 million at September 30, 2015 and decreased USD29.9 million, or 52.8 percent, from USD56.7 million at December 31, 2014.

Waterstone continued a share repurchase program, under which 42,700 shares were repurchased at an average price of USD13.31 per share on the open market during the quarter ended December 31, 2015. A total of 5,593,753 shares were repurchased at an average price of USD12.94 per share during the year ended December 31, 2015.

Waterstone Financial, Inc. is a single-bank, holding company headquartered in Wauwatosa, WI. With USD1.8 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 e18 states around the country.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:Mar 2, 2016
Words:429
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