NASDAQ : WSBF
Waterstone Financial, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 19.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 356.44M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 106.36M | 104.75M | 103.07M | 90.15M | 62.94M | 64.37M |
| Interest Income on Investments | 11.91M | 11.36M | 10.10M | 9.06M | 7.31M | 5.52M |
| Total Interest Income | 118.27M | 116.11M | 113.17M | 99.21M | 70.25M | 69.88M |
| Interest Paid on Deposits | 41.63M | 43.52M | 40.57M | 25.74M | 4.86M | 4.42M |
| Interest Paid on Borrowings | 14.72M | 15.86M | 26.43M | 23.25M | 8.43M | 9.95M |
| Total Interest Expense | 56.35M | 59.37M | 67.00M | 48.99M | 13.29M | 14.37M |
| Net Interest Income | 61.92M | 56.73M | 46.17M | 50.22M | 56.95M | 55.52M |
| Mortgage Banking Activities | 82.03M | 79.22M | 83.56M | 75.69M | 99.56M | 191.03M |
| Gain (Loss) on Sale of Assets | 152.00K | 583.00K | 4.03M | |||
| Other Non-Interest Income | 6.20M | 5.96M | 5.58M | 4.92M | 6.00M | 8.13M |
| Total Non-Interest Income | 88.23M | 85.19M | 89.30M | 81.19M | 105.56M | 203.19M |
| Revenues Before Loan Losses | 150.15M | 141.92M | 135.47M | 131.40M | 162.51M | 258.71M |
| Provision for Loan Losses | -327.00K | -1.39M | -168.00K | 656.00K | 968.00K | -3.99M |
| Revenue | 150.48M | 143.31M | 135.64M | 130.74M | 161.54M | 262.70M |
| Salaries and Employee Benefits | 81.37M | 77.84M | 79.34M | 82.36M | 97.09M | 132.24M |
| Occupancy Expenses | 7.05M | 7.19M | 7.57M | 8.32M | 8.71M | 9.61M |
| Selling, General & Administrative | 11.85M | 13.41M | 14.37M | 13.84M | 13.92M | 12.94M |
| Other Non-Interest Expense | 12.39M | 11.74M | 10.32M | 15.18M | 17.32M | 15.80M |
| Total Non-Interest Expense | 112.40M | 109.87M | 111.64M | 119.71M | 137.06M | 170.59M |
| EBT Excluding Unusual Items | 38.08M | 33.45M | 24.00M | 11.03M | 24.48M | 92.11M |
| Pretax Income | 38.08M | 33.45M | 24.00M | 11.03M | 24.48M | 92.11M |
| Income Tax Expense | 7.98M | 7.04M | 5.31M | 1.66M | 4.99M | 21.32M |
| Net Income | 30.10M | 26.40M | 18.69M | 9.38M | 19.49M | 70.79M |
| Net Income to Common | 30.10M | 26.40M | 18.69M | 9.38M | 19.49M | 70.79M |
| Basic Shares Outstanding | 17.39M | 17.84M | 18.56M | 20.16M | 21.88M | 23.74M |
| Diluted Shares Outstanding | 17.45M | 17.87M | 18.59M | 20.20M | 22.01M | 23.93M |
| EPS (Basic) | 1.73 | 1.48 | 1.01 | 0.47 | 0.89 | 2.98 |
| EPS (Diluted) | 1.73 | 1.48 | 1.01 | 0.46 | 0.89 | 2.96 |
| Dividend Per Share | 0.64 | 0.60 | 0.60 | 0.70 | 0.80 | 0.80 |
| Effective Tax Rate | 20.96% | 21.06% | 22.14% | 15.02% | 20.39% | 23.14% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 38.20M | 71.11M | 39.76M | 36.42M | 46.64M | 376.72M |
| Investment Securities | 70.35M | 62.91M | 60.80M | 53.00M | 50.40M | 57.28M |
| Trading Asset Securities | 9.50M | 8.31M | 13.47M | 12.38M | 16.84M | 5.95M |
| Mortgage-Backed Securities | 167.00M | 167.94M | 147.75M | 151.91M | 146.19M | 121.73M |
| Total Investments | 246.85M | 239.16M | 222.02M | 217.28M | 213.43M | 184.96M |
| Gross Loans | 1.68B | 1.68B | 1.68B | 1.66B | 1.51B | 1.21B |
| Allowance for Loan Losses | -17.88M | -17.48M | -18.25M | -18.55M | -17.76M | -15.78M |
| Net Loans | 1.67B | 1.66B | 1.66B | 1.65B | 1.49B | 1.19B |
| Property, Plant & Equipment | 18.90M | 18.86M | 19.39M | 20.00M | 21.11M | 22.27M |
| Loans Held for Sale | 151.69M | 145.06M | 135.91M | 164.99M | 131.19M | 312.74M |
| Other Current Assets | 31.22M | 20.25M | 23.11M | 26.06M | 26.82M | 32.33M |
| Long-Term Deferred Tax Assets | 8.40M | 10.94M | 12.16M | 12.67M | 5.32M | |
| Other Real Estate Owned & Foreclosed | 318.00K | 424.00K | 505.00K | 254.00K | 145.00K | 148.00K |
| Other Long-Term Assets | 80.36M | 78.38M | 75.34M | 69.67M | 69.89M | 66.92M |
| Total Assets | 2.25B | 2.26B | 2.21B | 2.21B | 2.03B | 2.22B |
| Interest Bearing Deposits | 1.22B | 1.25B | 1.19B | 1.06B | 1.08B | 1.13B |
| Institutional Deposits | 198.60M | 183.20M | 167.30M | 131.40M | 115.50M | 102.60M |
| Total Deposits | 1.42B | 1.44B | 1.36B | 1.19B | 1.20B | 1.23B |
| Short-Term Borrowings | 207.73M | 230.17M | 309.14M | 468.46M | 204.62M | 8.71M |
| Federal Home Loan Bank Debt, Long-Term | 212.97M | 190.00M | 150.00M | 155.00M | 200.00M | 470.00M |
| Other Long-Term Liabilities | 59.95M | 52.67M | 51.44M | 55.25M | 57.55M | 70.99M |
| Total Liabilities | 1.90B | 1.91B | 1.87B | 1.87B | 1.66B | 1.78B |
| Common Stock | 180.00K | 184.00K | 193.00K | 203.00K | 222.00K | 248.00K |
| Additional Paid-In Capital | 71.64M | 78.01M | 91.21M | 103.91M | 128.55M | 174.50M |
| Retained Earnings | 301.62M | 292.96M | 277.20M | 269.61M | 274.25M | 273.40M |
| Comprehensive Income & Other | -22.31M | -21.76M | -29.47M | -29.66M | -32.53M | -15.38M |
| Shareholders' Equity | 351.13M | 349.39M | 339.13M | 344.06M | 370.49M | 432.77M |
| Total Liabilities & Equity | 2.25B | 2.26B | 2.21B | 2.21B | 2.03B | 2.22B |
| Total Debt | 420.70M | 420.17M | 459.14M | 623.46M | 404.62M | 478.70M |
| Net Cash (Debt) | -373.00M | -340.75M | -405.91M | -574.66M | -341.14M | -96.04M |
| Net Cash Per Share | -21.38 | -19.07 | -21.84 | -28.45 | -15.50 | -4.01 |
| Filing Date Shares Outstanding | 17.98M | 17.52M | 18.37M | 19.00M | 23.07M | 24.22M |
| Total Common Shares Outstanding | 17.98M | 17.52M | 18.39M | 19.26M | 21.02M | 24.78M |
| Book Value Per Share | 19.53 | 19.95 | 18.44 | 17.86 | 17.63 | 17.46 |
| Tangible Book Value | 351.13M | 349.39M | 339.13M | 344.06M | 370.49M | 432.77M |
| Tangible Book Value Per Share | 19.53 | 19.95 | 18.44 | 17.86 | 17.63 | 17.46 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 30.10M | 26.40M | 18.69M | 9.38M | 19.49M | 70.79M |
| Depreciation & Amortization | 2.99M | 2.55M | 2.47M | 3.30M | 4.03M | 6.05M |
| Gain (Loss) on Sale of Assets | -299.00K | -299.00K | -152.00K | -583.00K | -4.04M | |
| Total Asset Writedown | -320.00K | 320.00K | ||||
| Provision for Credit Losses | -327.00K | -1.39M | -168.00K | 656.00K | 968.00K | -3.99M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 93.40M | 71.57M | 112.89M | 37.57M | 257.71M | 282.67M |
| Change in Trading Asset Securities | 488.00K | 5.16M | -1.09M | 4.47M | -10.90M | 6.69M |
| Accrued Interest Receivable | -541.00K | -478.00K | -432.00K | -1.70M | -1.71M | 944.00K |
| Change in Income Taxes | 903.00K | 1.31M | 1.43M | 1.56M | 1.07M | -2.56M |
| Change in Other Net Operating Assets | 1.59M | -562.00K | -2.35M | -9.86M | 14.47M | -11.01M |
| Other Operating Activities | -704.00K | 121.00K | -136.00K | -2.85M | -3.29M | -10.70M |
| Operating Cash Flow | 44.74M | 24.18M | 48.06M | -27.58M | 206.66M | 142.01M |
| Capital Expenditures | -1.97M | -1.17M | -1.10M | -700.00K | -701.00K | -778.00K |
| Investment in Securities | -13.16M | -13.09M | -4.35M | -4.65M | -39.25M | -24.19M |
| Purchase / Sale of Intangibles | 2.11M | 3.53M | 12.45M | |||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -19.48M | 5.20M | -16.69M | -154.17M | -303.87M | 170.30M |
| Other Investing Activities | 943.00K | 311.00K | -3.93M | -3.23M | 8.08M | 2.10M |
| Investing Cash Flow | -33.67M | -8.74M | -23.96M | -159.22M | -335.74M | 160.06M |
| Short-Term Debt Issued | 269.27M | 179.66M | ||||
| Long-Term Debt Issued | 130.00M | 170.00M | 259.00M | 200.00M | ||
| Total Debt Issued | 132.97M | 130.00M | 170.00M | 528.27M | 379.66M | |
| Short-Term Debt Repaid | -74.26M | -159.53M | -30.95M | |||
| Long-Term Debt Repaid | -90.00M | -175.00M | -304.00M | -470.00M | ||
| Total Debt Repaid | -186.70M | -164.26M | -334.54M | -304.00M | -470.00M | -30.95M |
| Net Debt Issued (Repaid) | -53.73M | -34.26M | -164.53M | 224.27M | -90.34M | -30.95M |
| Issuance of Common Stock | 1.17M | 2.40M | 1.66M | 820.00K | 564.00K | 2.31M |
| Repurchase of Common Stock | -14.62M | -16.21M | -14.91M | -26.03M | -47.83M | -10.18M |
| Common Dividends Paid | -10.82M | -10.77M | -11.27M | -15.36M | -30.26M | -30.39M |
| Net Increase (Decrease) in Deposit Accounts | 36.27M | 77.38M | 169.27M | -8.39M | -34.37M | 48.52M |
| Other Financing Activities | -2.08M | -2.63M | -977.00K | 1.27M | 1.24M | 572.00K |
| Financing Cash Flow | -43.80M | 15.91M | -20.76M | 176.58M | -201.00M | -20.12M |
| Net Cash Flow | -32.72M | 31.35M | 3.34M | -10.22M | -330.08M | 281.95M |
| Free Cash Flow | 42.78M | 23.02M | 46.96M | -28.28M | 205.96M | 141.23M |
| Free Cash Flow Margin | 28.43% | 16.06% | 34.62% | -21.63% | 127.50% | 53.76% |
| Free Cash Flow Per Share | 2.45 | 1.29 | 2.53 | -1.40 | 9.36 | 5.90 |
| Cash Interest Paid | 54.81M | 59.16M | 66.27M | 47.74M | 12.89M | 14.55M |
| Cash Income Tax Paid | 6.93M | 5.01M | 2.39M | 1.17M | 4.09M | 22.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 351.41M | 310.71M | 246.41M | 306.79M | 372.18M | 517.93M |
| Last Close Price | 19.55 | 15.97 | 12.40 | 12.51 | 14.40 | 17.09 |
| PE Ratio | 11.30 | 11.77 | 13.19 | 32.73 | 19.10 | 7.32 |
| PS Ratio | 2.34 | 2.17 | 1.82 | 2.35 | 2.30 | 1.97 |
| PB Ratio | 1.00 | 0.89 | 0.73 | 0.89 | 1.00 | 1.20 |
| P/FCF Ratio | 8.22 | 13.50 | 5.25 | 1.81 | 3.67 | |
| P/OCF Ratio | 7.85 | 12.85 | 5.13 | 1.80 | 3.65 | |
| Debt / Equity Ratio | 1.20 | 1.20 | 1.35 | 1.81 | 1.09 | 1.11 |
| Debt / FCF Ratio | 9.84 | 18.25 | 9.78 | 1.97 | 3.39 | |
| Net Debt / Equity Ratio | 1.06 | 0.97 | 1.20 | 1.67 | 0.92 | 0.22 |
| Net Debt / FCF Ratio | 8.72 | 14.80 | 8.64 | -20.32 | 1.66 | 0.68 |
| Return on Equity (ROE) | 8.69% | 7.67% | 5.47% | 2.62% | 4.85% | 16.74% |
| Return on Assets (ROA) | 1.33% | 1.18% | 0.84% | 0.44% | 0.92% | 3.22% |
| Earnings Yield | 8.85% | 8.50% | 7.58% | 3.06% | 5.24% | 13.67% |
| FCF Yield | 12.17% | 7.41% | 19.06% | -9.22% | 55.34% | 27.27% |
| Dividend Yield | 3.48% | 3.38% | 4.48% | 4.40% | 4.52% | 3.83% |
| Payout Ratio | 39.30% | 40.78% | 60.30% | 163.87% | 155.28% | 42.93% |
| Buyback Yield / Dilution | 4.44% | 3.88% | 7.96% | 8.24% | 8.03% | 2.75% |
| Total Shareholder Return | 7.91% | 7.27% | 12.44% | 12.64% | 12.54% | 6.58% |