sentences:  Waterloo has lost a large area of land to floods and later the construction of Pickwick Landing Dam.In 1880, when it first appeared on the U.S. Census, and again from 1910–1940, it was the second largest community in Lauderdale County after Florence, reaching its zenith of 524 residents in 1940.It has since lost two-thirds of its population and since 1980, and ranks 8th and smallest of Lauderdale County's incorporated communities with 203 residents.