Waterstone financial, inc. (WSBF)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Interest income:
Loans

72,235

66,966

60,824

57,185

55,175

57,316

58,470

64,317

72,269

Mortgage-related securities

2,978

2,648

2,646

3,048

3,229

2,996

1,849

3,278

3,822

Debt securities, federal funds sold and short-term investments

4,528

4,086

3,625

3,503

3,559

3,322

2,545

2,251

3,261

Total interest income

79,741

73,700

67,095

63,736

61,963

63,634

62,864

69,846

79,352

Interest expense:
Deposits

17,278

11,627

7,739

7,364

5,879

4,926

5,215

9,477

15,289

Borrowings

10,266

7,896

8,623

12,928

17,240

17,401

18,443

18,424

17,547

Total interest expense

27,544

19,523

16,362

20,292

23,119

22,327

23,658

27,901

32,836

Net interest income

52,197

54,177

50,733

43,444

38,844

41,307

39,206

41,945

46,516

Provision for loan losses

-900

-1,060

-1,166

380

1,965

1,150

4,532

8,300

22,077

Net interest income after provision for loan losses

53,097

55,237

51,899

43,064

36,879

40,157

34,674

33,645

24,439

Noninterest income:
Service charges on loans and deposits

2,363

1,680

1,625

2,232

-

-

-

-

-

Service charges on loans and deposits

-

-

-

-

1,648

1,486

1,337

1,331

1,078

Increase in cash surrender value of life insurance

1,935

1,848

1,807

1,767

1,417

1,290

1,076

1,071

1,124

Loss on sale of securities

0

0

-107

0

-

-

-

-

-

Loss on sale of securities

-

-

-

-

44

0

-9

522

53

Total other than temporary investment losses

-

-

-

-

-

-44

0

190

1,479

This element represents the amount of loss recognized for other than temporary impairments (OTTI) of investments for non-credit portion in debt and equity securities

-

-

-

-

-

61

0

23

-1,023

Impairment of securities

-

-

-

-

-

-17

0

-213

-456

Mortgage banking income

125,666

113,151

120,044

121,069

-

-

-

-

-

Mortgage banking income

-

-

-

-

99,318

77,982

80,260

87,375

39,845

Other

786

1,520

1,044

1,297

2,047

3,827

5,135

1,117

1,585

Total noninterest income

130,750

118,199

124,413

126,365

104,474

84,568

87,799

91,203

43,229

Noninterest expenses:
Compensation, payroll taxes, and other employee benefits

101,718

97,784

97,084

95,056

81,753

69,172

68,807

63,507

39,159

Occupancy, office furniture and equipment

10,606

10,855

10,178

9,347

9,287

10,369

8,165

6,968

6,488

Advertising

3,885

4,123

3,333

2,743

2,947

2,949

3,085

2,647

1,568

Data processing

3,630

2,792

2,439

2,520

2,354

2,245

2,032

1,523

1,400

Communications

1,359

1,611

1,560

1,462

1,416

1,690

1,557

1,277

968

Professional fees

3,605

2,327

2,656

2,135

2,354

2,393

2,386

2,109

1,648

Real estate owned

-146

1

379

399

2,664

2,482

-

-

-

Loan processing expense

3,288

3,372

3,062

2,875

-

-

-

-

-

Real estate owned

-

-

-

-

-

-

255

8,746

12,140

FDIC insurance premiums

-

-

-

-

1,058

1,395

1,986

3,390

3,814

Other

8,328

10,291

11,188

10,898

11,701

12,123

10,871

11,971

7,394

Total noninterest expenses

136,273

133,156

131,879

127,435

115,534

104,818

99,144

102,138

74,579

Income before income taxes

47,574

40,280

44,433

41,994

25,819

19,907

23,329

22,710

-6,911

Income tax expense

11,671

9,526

18,469

16,462

9,249

7,175

8,621

-12,204

562

Net income

35,903

30,754

25,964

25,532

16,570

12,732

14,708

34,914

-7,473

Earnings Per Share [Abstract]
Basic income per share (in dollars per share)

1.38

1.12

0.95

0.94

0.57

0.38

0.43

1.02

-0.22

Diluted income per share (in dollars per share)

1.37

1.11

0.93

0.93

0.56

0.38

0.43

1.02

-0.22

Weighted average shares outstanding:
Weighted average shares outstanding (in shares)

26,021

27,363

27,467

27,037

29,161

33,406

34,185

34,076

33,938

Diluted weighted average shares outstanding (in shares)

26,247

27,634

27,899

27,374

29,431

33,643

34,439

34,194

33,938