WSBF — what changed in the latest 10-Q
A section-by-section comparison of WSBF's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +60 | −24 | ~39 | 57 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 3 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +1 | 0 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
Total compensation, payroll taxes and other employee benefits increased $253,000, or 1.6%, to $16.6 million for the three months ended June 30, 2026 compared to $16.3 million for the three months ended June 30, 2025. The increase primarily related to increased commission expense, manager pay expense…
● The decrease in mortgage banking income was primarily the result of a decrease in gross margin on loans originated offset by an increase in loan origination volumes. Gross margin on loans originated and sold is the ratio of mortgage banking income (excluding the change in interest rate lock fair v…
● Other income increased due to a gain on sale of land at the community banking segment.
Total noninterest expenses increased $1.0 million, or 3.5%, to $29.4 million during the three months ended June 30, 2026 compared to $28.4 million during the three months ended June 30, 2025.
● Occupancy, office furniture and equipment expense decreased during the three months ended June 30, 2026, primarily resulting from decreases in rent expense and final snow plowing expenses.
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Additionally, our overall margin can be affected by the mix of both loan type (conventional loans versus governmental) and loan purpose (purchase versus refinance). Conventional loans include loans that conform to Fannie Mae and Freddie Mac standards, whereas governmental loans are those loans guara…
Total compensation, payroll taxes and other employee benefits increased $2.4 million, or 20.1%, to $14.5 million for the three months ended March 31, 2026 compared to $12.1 million for the three months ended March 31, 2025. The increase primarily related to increased commission expense due to an inc…
● The $219,000 decrease in service charges on loans and deposits was primarily due to a decrease in loan prepayment penalties.
● The increase in mortgage banking income was primarily the result of an increase in loan origination volumes offset by a decrease in gross margin on loans originated. Total loan origination volume on a consolidated basis increased $117.7 million, or 30.4%, to $505.5 million during the three months …
Total noninterest expenses increased $1.5 million, or 5.8%, to $27.9 million during the three months ended March 31, 2026 compared to $26.4 million during the three months ended March 31, 2025.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-06
The profitability of our mortgage banking operations depend significantly on the margins we earn from our mortgage banking activities, which include originating and selling residential mortgage loans. Mortgage banking margins are volatile and influenced by several factors beyond our control includin…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice