Waterstone Financial Q1 net income doubles to $6.0M on margin expansion, mortgage rebound

Filed April 23, 2026 · Period ending April 23, 2026 · ~1 min read

Key Changes

• high

  Net income surged 98% to $6.0M ($0.34/share) from $3.0M ($0.17/share) in Q1 2025, driven by Community Banking margin expansion and Mortgage Banking turnaround. Return on equity improved to 6.88% from 3.61%.

  Exhibit 99.1 verify on EDGAR →
• high

  Community Banking net interest margin expanded 50 basis points to 2.97% from 2.47%, producing record Q1 net interest income of $15.2M (up 22.8% YoY) on higher loan yields and lower funding costs.

  Exhibit 99.1 verify on EDGAR →
• high

  Mortgage Banking returned to profitability with $22K pre-tax income versus $2.2M loss in Q1 2025, as originations jumped 31.1% to $508.3M on declining rates and refinance activity rising to 26.1% of volume.

  Exhibit 99.1 verify on EDGAR →