Waterstone Financial, Inc. (WSBF) SEC Filings & Earnings Calls

Loss of board experience, but departure is voluntary and amicable.

“Mr. Tyus served on Audit and Compensation Committees.”

Credit loss provision increase

“There was a provision for credit losses of $236,000 for the three months ended June 30, 2026 compared to a negative $9,000 provision for credit losses for the three months ended June 30, 2025.” · word for word

Uninsured deposit concentration

“The Company had approximately $397.9 million of uninsured deposits for approximately 1,551 customers as of June 30, 2026.” · word for word

Mortgage Banking segment profitability decline due to softer sales margins despite higher origination volumes

“The Mortgage Banking segment generated pre-tax income of $1.6 million which represents a decrease of $403,000, or 20.2%, compared to the quarter ended June 30, 2025. The Mortgage Banking segment achieved solid growth in loan origination volumes compared to the prior year, but this growth was offset by softer sales margins.” · word for word

Provision for credit losses increased due to commercial real estate external qualitative factors

“The segment had a provision for credit losses related to funded loans of $171,000 for the quarter ended June 30, 2026 compared to a negative provision for credit losses related to funded loans of $125,000 for the quarter ended June 30, 2025. The current quarter increase was primarily due to increases in commercial real estate external qualitative factors.” · word for word

Non-accrual loan increase

“Total non-accrual loans increased by $1.3 million, or 21.2%, to $7.5 million as of March 31, 2026 compared to $6.2 million as of December 31, 2025.” · word for word

Mortgage margin compression

“gross margin on loans originated and sold decreased 8.3%” · word for word

Provision for credit losses increased due to external qualitative factors, though asset quality remains strong.

“We did increase our allowance for credit losses due to certain external qualitative factors even though asset quality metrics continue to stay strong.” · word for word

Mortgage Banking Segment Underperformance

“Mortgage Banking Segment Pre-Tax Income: Actual Achievement as a % of Target 63.0%”

Mortgage volume decline due to low housing inventory

“The decrease in loan production volume was driven by a $135.0 million, or 7.0%, decrease in purchase products as housing inventory remained low.” · word for word

Interest rate risk on fixed-rate securities and loans

“inflation and changes in the interest rate environment that reduce our margins and yields, our mortgage banking revenues or reduce the fair value of financial instruments” · word for word

Past due loans increased sequentially to 0.86% from 0.50%.

“Past due loans as a percentage of total loans was 0.86% at December 31, 2025, 0.50% at September 30, 2025” · word for word

Mortgage volume and margin pressure

“Mortgage originations decreased 9.7% YTD and gross margin contracted 1.6%.”

Interest rate risk

“Net interest income is sensitive to changes in interest rates; the company relies on deposit funding and FHLB advances.”