Waterstone Financial reports Q2 EPS 31c vs. 20c last year

Reports Q2 book value per share $17.20. “The results this quarter reflect our continued efforts over the past year to improve efficiencies at the Mortgage Banking segment,” said William Bruss, Chief Executive Officer of Waterstone Financial, Inc. “While our results have improved, we continue to face many challenges within the Mortgage Banking segment, as the mortgage banking industry continues to face unknown variables driven by consumer demand, affordable inventory, and interest rates. The Community Banking segment continues to deal with margin pressure, as short-term funding rates remain elevated due to the restrictive monetary policy of the Federal Reserve. Throughout this challenging period, we have maintained a robust share repurchase program that continues to return strong value to shareholders through repurchase activity that is accretive to book value.”