Waterstone Financial income declines 3.7% during 3Q

Freeman Staff

Oct. 26, 2017

WAUWATOSA — Waterstone Financial Inc.’s net income declined 3.7% during the recent third quarter.

According to the parent company of WaterStone Bank, the net income per diluted share was $0.26 for the third quarter, which represents a 3.7 percent decrease compared to net income per diluted share of $0.27 for the same quarter in 2016. The third quarter included a $0.02 impact on diluted earnings per share for a charge to income tax expense related to the write-off of a deferred tax asset.

“We continue to execute at a high level of profitability, despite a number of challenges faced by the mortgage banking industry,” said Douglas Gordon, CEO of Waterstone Financial, Inc., in a statement.

In addition, Waterstone Financial reported for the recent quarter that its consolidated net income totaled $7.4 million, compared to $7.5 million for the same quarter last year.