沃特财务 2024年度报告

WATERSTONE FINANCIAL,INC. MESSAGE FROMBILL BRUSS Dear Fellow Shareholder: 2024 was marked by improved performance in our mortgage banking segment as Waterstone Mortgage began toUHDOL]HWKHEHQHȴWVRILWVH΍RUWVDURXQGH[SHQVHPDQDJHPHQWDQGUHWXUQHGWRSURȴWDELOLW\GHVSLWHDPRUWJDJHmarket that continues to be hampered by low housing inventory and high mortgage interest rates. +LJKHU LQWHUHVW UDWHV DOVR FRQWULEXWHG WR PRGHVW ORDQ JURZWK DQG KLJKHU LQWHUHVW H[SHQVH LQ RXU FRPPXQLW\banking segment. Nevertheless, WaterStone Bank’s earnings remained positive with sustained emphasis on assetTXDOLW\H[SHQVHPDQDJHPHQWDQGPDLQWHQDQFHRIRXUVWURQJFDSLWDOSRVLWLRQ :DWHUVWRQH)LQDQFLDOΖQFFRQWLQXHGWRGHOLYHUYDOXHWRRXUVKDUHKROGHUV7KURXJKGLYLGHQGVDQGH[HFXWLRQRIRXUstock repurchase plan, we returned $26 million to our shareholders in 2024 while increasing tangible book valueby $.58/share. :H FRQWLQXH WR VHHN ZD\V WR SXW RXU FXVWRPHUV ȴUVW E\ SURYLGLQJ H[FHOOHQW DQG FRQVLVWHQW FXVWRPHU VHUYLFHthroughout our organization, ensuring that customers calling our customer support center are greeted by a liveYRLFHDQGFRQWLQXLQJWRLQYHVWLQWHFKQRORJLHVWKDWOHDGWRDQLPSURYHGFXVWRPHUH[SHULHQFH Contributing to the growth and betterment of the communities we live and work in is a priority for WaterStoneBank. Our employee driven initiatives, focused on improving education, strengthening families, and supportingRXUYHWHUDQVDQGȴUVWUHVSRQGHUVUHVXOWHGLQJUDQWVRIWKURXJKRXUFKDULWDEOHIXQGWRRUJDQL]DWLRQVin the communities we serve. More importantly, our team volunteered over 850 hours in service to many ofthese organizations. Our dedicated team members are at the center of everything we do: providing great service to our customersDQGOHDGLQJLQWKHFRPPXQLW\ΖQZHIRFXVHGRQSURYLGLQJRXUHPSOR\HHVZLWKLPSURYHGDQGPRUHHɝFLHQWtechnologies and new opportunities for learning and growth; we had the privilege of internally promoting 25 teammembers to new opportunities. 7KDQN\RXIRU\RXUFRQWLQXHGWUXVWDQGVXSSRUW:HDSSUHFLDWH\RXUFRQȴGHQFHLQ:DWHUVWRQH)LQDQFLDOΖQFDQGlook forward to sharing our success with you in the years to come. Sincerely, William Bruss3UHVLGHQW&KLHI([HFXWLYH2ɝ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