Waterstone Mortgage has third consecutive quarterly profit

Waterstone Mortgage accomplished a third consecutive quarter of pretax and net profitability, with year-over-year improvements in production and gain on sale.

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Fourth quarter pretax income of $900,000 and net income of $656,000 for the mortgage banking segment of Waterstone Financial compared with $1.3 million and $948,000 in the third quarter, plus approximately $2 million and…