Waterstone Financial earnings increase for second quarter

Freeman Staff

July 24, 2015

WAUWATOSA — Waterstone Financial, Inc., holding company for WaterStone Bank, reported net income of $5.3 million for its second quarter, a significant increase from its first quarter with a net income total of $3 million. For the second quarter of 2014, Waterstone Financial reported a net income of $3.8 million.

According to the Wauwatosa-based financial institute, its mortgage banking segment net income totaled $2.9 million for the recent quarter compared to $1 million for the same quarter last year. The second quarter represents the fourth consecutive quarter in which the mortgage banking segment has outperformed the prior year comparative quarter, according to Friday’s report.

Mortgage banking operations were positively affected by a higher volume of loans originated during the second quarter of 2015 compared to the second quarter of 2014. Loans originated for sale on the secondary market increased 26.3 percent to $596 million during the most recent quarter, compared to $472 million during the 2014’s second quarter.