Waterstone Financial posted FY 2025 net income of USD 26.4 million, with basic and diluted EPS of USD 1.48. Income before income taxes was USD 33.4 million and provision for income taxes was USD 7.0 million (effective tax rate 21.1%). Net interest income rose 22.9% to USD 56.7 million, while noninterest income fell 4.6% to USD 85.2 million and noninterest expense declined 1.6% to USD 109.9 million. The provision for credit losses was a negative USD 1.4 million. At Dec. 31, 2025, total assets were USD 2.26 billion, with loans receivable of USD 1.68 billion, deposits of USD 1.44 billion, borrowings of USD 412.3 million and shareholders’ equity of USD 349.4 million. The company reported return on average assets of 1.19% and return on average equity of 7.62% for FY 2025. In business updates, the community banking segment reported FY 2025 net income of USD 24.8 million, while the mortgage banking segment reported net income of USD 1.4 million and originated USD 2.05 billion in mortgage loans held for sale. Mortgage banking noninterest income declined 5.6% to USD 79.5 million, reflecting lower origination volume and a 1.0% decrease in gross margin on loans originated and sold. The company reported no sales of mortgage servicing rights in FY 2025, following a prior-year sale that generated USD 2.1 million in net proceeds and a USD 0.2 million gain. The company also said it repurchased USD 16.2 million of common stock and paid USD 10.8 million in cash dividends during FY 2025, and ended the year with about 468,000 shares remaining under its 2,000,000-share repurchase program.

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