Waterstone Financial Q3 2024: Assets Top $232M

TL;DR

**WSBF Q3 2024: Assets $232.1M, Liabilities $227.7M, EPS $0.55**

AI Summary

Waterstone Financial, Inc. reported its Q3 2024 results, with total assets reaching $232.1 million and total liabilities at $227.7 million as of September 30, 2024. The company's net income per share was $0.55 for the period. They also reported $100 million in total deposits and $19.5 million in total equity.

Why It Matters

This filing provides insight into the financial health and performance of Waterstone Financial, Inc. during the third quarter of 2024, impacting investors and stakeholders.

Risk Assessment

Risk Level: low — The filing appears to be a standard quarterly report with no immediate red flags indicating high risk.

Key Numbers

• $232.1B — Total Assets (Represents the company's total assets as of Q3 2024.)
• $227.7B — Total Liabilities (Represents the company's total liabilities as of Q3 2024.)
• $0.55 — Net Income Per Share (Earnings per share for the reported period.)
• $100.0B — Total Deposits (Indicates the total amount of customer deposits held by the company.)
• $19.5B — Total Equity (Represents the shareholders' equity as of Q3 2024.)

Key Players & Entities

• Waterstone Financial, Inc. (company) — Filer of the 10-Q report.
• 20240930 (date) — End of the reporting period for the 10-Q.
• $232,076 (dollar_amount) — Total assets as of September 30, 2024.
• $227,716 (dollar_amount) — Total liabilities as of September 30, 2024.
• $0.55 (dollar_amount) — Net income per share for the period.
• $100,000,000 (dollar_amount) — Total deposits as of September 30, 2024.
• $19,456,939 (dollar_amount) — Total equity as of September 30, 2024.

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Par Value WSBF The NASDAQ Stock Mar

Filing Documents

• wsbf20240930_10q.htm (10-Q) — 4155KB
• ex_715384.htm (EX-31.1) — 9KB
• ex_715385.htm (EX-31.2) — 9KB
• ex_715386.htm (EX-32.1) — 4KB
• ex_715387.htm (EX-32.2) — 4KB
• 0001437749-24-033139.txt ( ) — 18242KB
• wsbf-20240930.xsd (EX-101.SCH) — 85KB
• wsbf-20240930_cal.xml (EX-101.CAL) — 68KB
• wsbf-20240930_def.xml (EX-101.DEF) — 558KB
• wsbf-20240930_lab.xml (EX-101.LAB) — 470KB
• wsbf-20240930_pre.xml (EX-101.PRE) — 596KB
• wsbf20240930_10q_htm.xml (XML) — 5247KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item l. Financial Statements Consolidated Statements of Financial Condition as of September 30, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 (unaudited) 4 Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 (unaudited) 5 Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 (unaudited) 6 Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (unaudited) 8

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 9 - 36

Management's Discussion and Analysis of Financial Condition and Results of Operation s

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation s 37 - 56 I tem 3. Quantitative and Qualitative Disclosures about Market Risk 57

Controls and Procedures

Item 4. Controls and Procedures 58

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 58

Risk Factors

Item 1A. Risk Factors 58

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 59

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 59

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 59

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 60

Signatures

Signatures 60 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements WATERSTONE FINANCIAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) September 30, 2024 December 31, 2023 (Dollars In Thousands, except share and per share data) Assets Cash $ 35,770 $ 30,667 Federal funds sold 5,359 5,493 Interest-earning deposits in other financial institutions and other short term investments 278 261 Cash and cash equivalents 41,407 36,421 Securities available for sale, at fair value (cost: 2024—$ 232,076 ; 2023—$ 227,716 ) 213,164 204,907 Loans held for sale, at fair value 155,846 164,993 Loans receivable 1,695,403 1,664,215 Less: Allowance for credit losses ("ACL") - loans 18,198 18,549 Loans receivable, net 1,677,205 1,645,666 Office properties and equipment, net 19,450 19,995 Federal Home Loan Bank stock, at cost 21,681 20,880 Cash surrender value of life insurance 69,601 67,859 Real estate owned, net 145 254 Prepaid expenses and other assets 45,837 52,414 Total assets $ 2,244,336 $ 2,213,389 Liabilities and Shareholders' Equity Liabilities: Demand deposits $ 180,449 $ 187,107 Money market and savings deposits 279,188 273,233 Time deposits 804,204 730,284 Total deposits 1,263,841 1,190,624 Borrowings 560,127 611,054 Advance payments by borrowers for taxes 27,847 6,607 Other liabilities 50,519 61,048 Total liabilities 1,902,334 1,869,333 Commitments and contingencies (Note 8) Shareholders' equity: Preferred stock (par value $ .01 per share) Authorized - 50,000,000 shares at September 30, 2024 and at December 31, 2023, no shares issued - - Common stock (par value $ .01 per share) Authorized - 100,000,000 shares at September 30, 2024 and at December 31, 2023, Issued and Outstanding - 19,456,939 at September 30, 2024 and 20,314,786 at December 31, 2023 194 203 Additional paid-in capital 92,789 103,908 Retained earnings 274,748 269,606 Unearned ESOP shares ( 10,979 ) ( 11,869 ) Accum

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View this 10-Q filing on SEC EDGAR