July 31, 2013

Waterstone Financial profits drop in 2Q

Net income dropped 20.2 percent for Waterstone Financial Inc. in the second quarter, the company said Tuesday in a news release.

The Wauwatosa-based parent company of WaterStone Bank and Waterstone Mortgage Corp. reported net income of $4.92 million, or 16 cents per share, in the quarter ending June 30, down from $6.18 million, or 20 cents per share, for the second quarter of 2012. One reason for the drop was a decline in loan margins for the mortgage division, the release said.

Assets droppedâ;€¦;

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