Waterstone Financial (WSBF) Q4 2025 earnings summary

Executive summary

• Net income for Q4 2025 was $7.7 million ($0.44 per diluted share), up from $5.2 million ($0.28 per share) in Q4 2024 and slightly down from $7.9 million ($0.45 per share) in Q3 2025.

• Full-year 2025 net income per diluted share was $1.48, up from $1.01 in 2024.

• Book value per share increased to $19.03 at year-end 2025 from $17.53 at year-end 2024.

• $5.3 million was returned to shareholders in Q4 2025 through buybacks and dividends.

Financial highlights

• Consolidated return on average assets (annualized) was 1.35% for Q4 2025, up from 0.94% in Q4 2024.

• Consolidated return on average equity (annualized) was 8.74% for Q4 2025, up from 6.05% in Q4 2024.

• Net interest income for Q4 2025 was $15.7 million, up from $12.8 million in Q4 2024.

• Net interest margin rose to 2.89% in Q4 2025 from 2.42% in Q4 2024.

• Nonperforming assets as a percentage of total assets was 0.29% at year-end 2025.

Outlook and guidance

• Management highlighted strong asset quality, deposit growth, and net interest margin as drivers for continued performance.

• The mortgage banking segment is expected to benefit from increased refinance activity if rates remain favorable.