Waterstone Financial Q4 net income rises
Overview
U.S. bank holding company's Q4 net income rose yr/yr, driven by higher net interest margin
Community Banking segment's net interest income grew 20.4% yr/yr
Mortgage Banking segment returned to profitability with $900,000 pre-tax income
Outlook
Company did not provide specific guidance for future quarters or the year in its press release
Result Drivers
NET INTEREST INCOME - Community Banking segment's net interest income rose 20.4% due to higher loan yields and reduced cost of funds
MORTGAGE BANKING PROFITABILITY - Mortgage Banking segment returned to profitability with increased refinance activity as rates decreased
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Income |
| $7.71 mln |
|
Q4 Net Interest Income |
| $15.71 mln |
|
Q4 Credit Loss Provision |
| -$558,000 |
|
Press Release: ID:nGNX1gHPHY
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