Overview

* Waterstone Financial ( WSBF ) Q2 net income rises to $7.7 mln from $5.7 mln yr ago

* Community Banking segment net interest income up $2.4 mln yr/yr

* Co repurchased 508,000 shares, boosting book value per share

Outlook

* Company continues to maintains strong asset quality with minimal loan loss activity

Result Drivers

* NET INTEREST INCOME - Community Banking segment's net interest income rose by $2.4 mln due to improved cost of funds

* SEASONAL LOAN ORIGINATIONS - Mortgage Banking segment's pre-tax income benefited from expanded seasonal loan origination volumes

* ASSET QUALITY - Strong asset quality and minimal loan loss activity led to releases from allowance for credit losses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $7.73

Income mln

Q2 Net $13.71

Interest mln

Income

Q2 -$9,000

Credit

Loss

Provisio

n

Q2 $9.67

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)