Overview
- TickerWSBF on Nasdaq1
- IndustrySavings Institution, Federally Chartered1
- HeadquartersWauwatosa, Wisconsin1
- Incorporated inMD2
- Business address11200 West Plank Court, Wauwatosa, Wi 532262
- Filer categoryAccelerated filer2
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Statements regarding our business plans, prospects, growth and operating strategies;4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans | $104.8M | $103.1M | $90.1M |
| Mortgage-related securities | $5.2M | $4.5M | $4.1M |
| Debt securities, federal funds sold and short-term investments | $6.1M | $5.6M | $5.0M |
| Total interest income | $116.1M | $113.2M | $99.2M |
| Deposits | $43.5M | $40.6M | $25.7M |
| Borrowings | $15.9M | $26.4M | $23.3M |
| Total interest expense | $59.4M | $67.0M | $49.0M |
| Net interest income | $56.7M | $46.2M | $50.2M |
| Provision (credit) for credit losses | -$1.4M | -$168.0K | $656.0K |
| Net interest income after provision (credit) for credit losses | $58.1M | $46.3M | $49.6M |
| Service charges on loans and deposits | $2.1M | $2.1M | $1.8M |
| Increase in cash surrender value of life insurance | $2.6M | $2.0M | $1.7M |
| Mortgage banking income | $79.2M | $83.6M | $75.7M |
| Other | $1.3M | $1.7M | $2.0M |
| Total noninterest income | $85.2M | $89.3M | $81.2M |
| Compensation, payroll taxes, and other employee benefits | $79.6M | $81.1M | $84.1M |
| Occupancy, office furniture, and equipment | $7.2M | $7.6M | $8.3M |
| Advertising | $2.9M | $3.6M | $3.8M |
| Data processing | $4.9M | $5.0M | $4.7M |
| Communications | $973.0K | $922.0K | $988.0K |
| Professional fees | $2.8M | $3.2M | $2.7M |
| Real estate owned | -$312.0K | $26.0K | $4.0K |
| Loan processing expense | $3.0M | $3.1M | $3.4M |
| Other | $8.7M | $7.2M | $11.8M |
| Total noninterest expenses | $109.9M | $111.6M | $119.7M |
| Income before income taxes | $33.4M | $24.0M | $11.0M |
| Income tax expense | $7.0M | $5.3M | $1.7M |
| Net income | $26.4M | $18.7M | $9.4M |
| Basic income per share (in dollars per share) | $1.48 | $1.01 | $0.47 |
| Diluted income per share (in dollars per share) | $1.48 | $1.01 | $0.46 |
| Basic (in shares) | 17.8M shares | 18.6M shares | 20.2M shares |
| Diluted (in shares) | 17.9M shares | 18.6M shares | 20.2M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $63.6M | $35.2M | ||
| Federal funds sold | $7.3M | $4.3M | ||
| Interest-earning deposits in other financial institutions and other short term investments | $292.0K | $277.0K | ||
| Cash and cash equivalents | $71.1M | $39.8M | ||
| Securities available for sale, at fair value (cost: 2025-$246,579; 2024-$232,630) | $230.8M | $208.5M | ||
| Loans held for sale (at fair value) | $145.1M | $135.9M | ||
| Loans receivable | $1.7B | $1.7B | ||
| "Less: Allowance for credit losses (""ACL"") - loans" | $17.5M | $18.2M | $18.5M | $17.8M |
| Loans receivable, net | $1.7B | $1.7B | ||
| Office properties and equipment, net | $18.9M | $19.4M | ||
| Federal Home Loan Bank stock (at cost) | $19.8M | $20.3M | ||
| Cash surrender value of life insurance | $77.4M | $74.6M | ||
| Real estate owned, net | $424.0K | $505.0K | ||
| Prepaid expenses and other assets | $38.0M | $48.3M | ||
| Total assets | $2.3B | $2.2B | $2.2B | |
| Demand deposits | $175.6M | $171.1M | ||
| Money market and savings deposits | $329.0M | $283.2M | ||
| Time deposits | $932.6M | $905.5M | ||
| Total deposits | $1.4B | $1.4B | ||
| Borrowings | $412.3M | $446.5M | ||
| Advance payments by borrowers for taxes | $3.0M | $5.6M | ||
| Other liabilities | $57.6M | $58.4M | ||
| Total liabilities | $1.9B | $1.9B | ||
| Preferred stock (par value $0.01 per share) Authorized - 50,000,000 shares in 2025 and 2024, no shares issued | $0 | $0 | ||
| Common stock (par value $.01 per share) Authorized - 100,000,000 shares at December 31, 2025 and at December 31, 2024, Issued and Outstanding - 18,359,717 at December 31, 2025 and 19,343,251 at December 31, 2024 | $184.0K | $193.0K | ||
| Additional paid-in capital | $78.0M | $91.2M | ||
| Retained earnings | $293.0M | $277.2M | ||
| Unearned ESOP shares | -$9.5M | -$10.7M | ||
| Accumulated other comprehensive loss, net of taxes | -$12.3M | -$18.8M | ||
| Total shareholders equity | $349.4M | $339.1M | $344.1M | $370.5M |
| Total liabilities and shareholders equity | $2.3B | $2.2B | ||
| Securities available for sale, cost | $246.6M | $232.6M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued (in shares) | 18.4M shares | 19.3M shares | ||
| Common stock, shares outstanding (in shares) | 18.4M shares | 19.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $63.6M | $35.2M | ||
| Federal funds sold | $7.3M | $4.3M | ||
| Interest-earning deposits in other financial institutions and other short term investments | $292.0K | $277.0K | ||
| Cash and cash equivalents | $71.1M | $39.8M | ||
| Securities available for sale, at fair value (cost: 2025-$246,579; 2024-$232,630) | $230.8M | $208.5M | ||
| Loans held for sale (at fair value) | $145.1M | $135.9M | ||
| Loans receivable | $1.7B | $1.7B | ||
| "Less: Allowance for credit losses (""ACL"") - loans" | $17.5M | $18.2M | $18.5M | $17.8M |
| Loans receivable, net | $1.7B | $1.7B | ||
| Office properties and equipment, net | $18.9M | $19.4M | ||
| Federal Home Loan Bank stock (at cost) | $19.8M | $20.3M | ||
| Cash surrender value of life insurance | $77.4M | $74.6M | ||
| Real estate owned, net | $424.0K | $505.0K | ||
| Prepaid expenses and other assets | $38.0M | $48.3M | ||
| Total assets | $2.3B | $2.2B | $2.2B | |
| Demand deposits | $175.6M | $171.1M | ||
| Money market and savings deposits | $329.0M | $283.2M | ||
| Time deposits | $932.6M | $905.5M | ||
| Total deposits | $1.4B | $1.4B | ||
| Borrowings | $412.3M | $446.5M | ||
| Advance payments by borrowers for taxes | $3.0M | $5.6M | ||
| Other liabilities | $57.6M | $58.4M | ||
| Total liabilities | $1.9B | $1.9B | ||
| Preferred stock (par value $0.01 per share) Authorized - 50,000,000 shares in 2025 and 2024, no shares issued | $0 | $0 | ||
| Common stock (par value $.01 per share) Authorized - 100,000,000 shares at December 31, 2025 and at December 31, 2024, Issued and Outstanding - 18,359,717 at December 31, 2025 and 19,343,251 at December 31, 2024 | $184.0K | $193.0K | ||
| Additional paid-in capital | $78.0M | $91.2M | ||
| Retained earnings | $293.0M | $277.2M | ||
| Unearned ESOP shares | -$9.5M | -$10.7M | ||
| Accumulated other comprehensive loss, net of taxes | -$12.3M | -$18.8M | ||
| Total shareholders equity | $349.4M | $339.1M | $344.1M | $370.5M |
| Total liabilities and shareholders equity | $2.3B | $2.2B | ||
| Securities available for sale, cost | $246.6M | $232.6M | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued (in shares) | 18.4M shares | 19.3M shares | ||
| Common stock, shares outstanding (in shares) | 18.4M shares | 19.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $26.4M | $18.7M | $9.4M |
| Provision (credit) for credit losses | -$1.4M | -$168.0K | $656.0K |
| Depreciation, amortization, accretion | $2.5M | $2.5M | $3.3M |
| (Recovery) impairment of mortgage servicing rights | $0 | -$320.0K | $320.0K |
| Deferred taxes | $714.0K | $980.0K | -$1.1M |
| Stock based compensation | $297.0K | $316.0K | $277.0K |
| Origination of mortgage servicing rights | -$593.0K | -$850.0K | -$1.8M |
| Gain on sale of loans held for sale | -$80.7M | -$83.8M | -$71.4M |
| Loans originated for sale | -$2.0B | -$2.1B | -$2.0B |
| Proceeds on sales of loans originated for sale | $2.1B | $2.2B | $2.1B |
| Gain on death benefit on bank owned life insurance | $0 | -$266.0K | $0 |
| Increase in accrued interest receivable | -$478.0K | -$432.0K | -$1.7M |
| Increase in cash surrender value of life insurance | -$2.6M | -$2.0M | -$1.7M |
| Decrease (increase) in derivative assets | $5.2M | -$1.1M | $4.5M |
| Increase in accrued interest on deposits and borrowings | $218.0K | $727.0K | $1.3M |
| Decrease in prepaid tax expense | $1.3M | $1.4M | $1.6M |
| (Increase) decrease in derivative liabilities | -$4.7M | $213.0K | -$5.4M |
| Gain on sale of Real Estate Owned | -$299.0K | $0 | $0 |
| Gain on sale of mortgage servicing rights | $0 | -$152.0K | -$583.0K |
| Decrease (increase) in other assets | $2.1M | $3.0M | -$1.2M |
| Increase (decrease) in other liabilities | $4.6M | -$3.6M | -$1.5M |
| Net cash provided by (used in) operating activities | $24.2M | $48.1M | -$27.6M |
| Net decrease (increase) in loans receivable | $5.2M | -$16.7M | -$154.2M |
| FHLB Stock | -$2.5M | -$2.3M | -$11.9M |
| Debt securities | -$11.6M | -$16.0M | -$5.4M |
| Mortgage related securities | -$38.4M | -$19.4M | -$24.1M |
| Bank owned life insurance | -$180.0K | -$5.2M | -$180.0K |
| Premises and equipment | -$1.2M | -$1.1M | -$700.0K |
| Principal repayments on mortgage-related securities | $25.5M | $23.6M | $20.9M |
| Maturities of debt securities | $11.5M | $7.5M | $4.0M |
| Sales of FHLB stock | $3.0M | $2.9M | $8.4M |
| Proceeds on sales of mortgage servicing rights | $0 | -$2.1M | -$3.5M |
| Death benefit from bank owned life insurance | $0 | $662.0K | $474.0K |
| Net cash used in by investing activities | -$8.7M | -$24.0M | -$159.2M |
| Net increase (decrease) in deposits | $77.4M | $169.3M | -$8.4M |
| Net change in short-term borrowings | -$74.3M | -$159.5M | $269.3M |
| Repayment of long-term debt | -$90.0M | -$175.0M | -$304.0M |
| Proceeds from long-term debt | $130.0M | $170.0M | $259.0M |
| Net change in advance payments by borrowers for taxes | -$2.6M | -$977.0K | $1.3M |
| Cash dividends on common stock | -$10.8M | -$11.3M | -$15.4M |
| Proceeds from stock option exercises | $2.4M | $1.7M | $820.0K |
| Purchase of common stock returned to authorized but unissued | -$16.2M | -$14.9M | -$26.0M |
| Net cash provided by (used in) financing activities | $15.9M | -$20.8M | $176.6M |
| Increase (decrease) in cash and cash equivalents | $31.3M | $3.3M | -$10.2M |
| Income tax payments (refunds) | $5.0M | $2.4M | $1.2M |
| Interest payments | $59.2M | $66.3M | $47.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Waterstone Financial, Inc. sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Waterstone Financial, Inc.
- BlackRock Filed SCHEDULE 13G/A on Waterstone Financial, Inc., latest Jan 21, 2026 (4 filings since Feb 3, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Waterstone Financial, Inc., latest Jan 31, 2025 (3 filings since Nov 4, 2024)
- RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on Waterstone Financial, Inc., latest Feb 13, 2024 (3 filings since Feb 11, 2022)
- Principal Financial Group Filed SC 13G/A on Waterstone Financial, Inc., latest Feb 12, 2024 (3 filings since Feb 7, 2022)
- DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on Waterstone Financial, Inc., latest Feb 9, 2024 (3 filings since Feb 8, 2022)
- Waterstone Financial, Inc. Wauwatosa, Wisconsin
- Main Street Real Estate Holdings, LLC Subsidiary · Wisconsin, United States
- WaterStone Bank, SSB Subsidiary · Wisconsin, United States
- Waterstone Mortgage Corporation Subsidiary · Wisconsin, United States
- Wauwatosa Investments, Inc. Subsidiary · Nevada, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Waterstone Financial, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $54.9M9 Dec 31, 2025 | $54.2M9 Dec 31, 2024 | +1.2% |
| Accumulated depreciation | $36.0M9 Dec 31, 2025 | $34.8M9 Dec 31, 2024 | +3.4% |
| Property and equipment, net | $18.9M9 Dec 31, 2025 | $19.4M9 Dec 31, 2024 | −2.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Debt securities available for sale | $230.8M9 Dec 31, 2025 | $208.5M9 Dec 31, 2024 | +10.7% |
| Deposits held (banks) | $1.4B9 Dec 31, 2025 | $1.4B9 Dec 31, 2024 | +5.7% |
Properties, in its own words
We operate from our corporate center, our 14 full-service banking offices, our drive-through office and 14 automated teller machines, located in Milwaukee, Washington and Waukesha Counties, Wisconsin. The net book value of our premises, land, equipment and leasehold improvements was $18.9 million at December 31, 2025. The following table sets forth information with respect to our corporate center and our full-service banking offices as of December 31, 2025.
Corporate Center 11200 West Plank Court Wauwatosa, Wisconsin 53226 · Wauwatosa 7500 West State Street Wauwatosa, Wisconsin 53213 · Brookfield (1) 17495 W Capitol Dr. Brookfield, Wisconsin 53045
The rest of Item 2
Franklin/Hales Corners 6555 South 108th Street Franklin, Wisconsin 53132 · Germantown/Menomonee Falls W188N9820 Appleton Avenue Germantown, Wisconsin 53022 · Oak Creek 6560 South 27th Street Oak Creek, Wisconsin 53154
Oconomowoc/Lake Country (1) 1233 Corporate Center Drive Oconomowoc, Wisconsin 53066 · Pewaukee 1230 George Towne Drive Pewaukee, Wisconsin 53072 · Waukesha/Brookfield 21505 East Moreland Blvd. Waukesha, Wisconsin 53186
West Allis/Greenfield Avenue 10101 West Greenfield Avenue West Allis, Wisconsin 53214 · Fox Point/North Shore 8607 North Port Washington Road Fox Point, Wisconsin 53217 · Greenfield/Loomis Road 5000 West Loomis Road Greenfield, Wisconsin 53220
West Allis/National Avenue 10296 West National Avenue West Allis, Wisconsin 53227 · Oak Creek/Howell Avenue 8780 South Howell Avenue Oak Creek, Wisconsin 53154 · Milwaukee/Oklahoma Avenue 6801 West Oklahoma Avenue Milwaukee, Wisconsin 53219
(1) · Leased property
In addition to our banking offices, as of December 31, 2025, Waterstone Mortgage Corporation had nine offices in Florida, six offices in New Mexico, five offices in Wisconsin, four offices each in Oklahoma and Texas, three offices each in Arizona and Virginia, two offices each in Idaho, Maryland, Minnesota, and Montana and one office each in California, Colorado, Iowa, Illinois, Kansas, Massachusetts, New Hampshire, New Jersey, North Carolina, Rhode Island, South Dakota, Tennessee, and Wyoming.
Item 2 of the 10-K filed Feb 26, 2026.4
Leadership
Who has led Waterstone Financial, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerDouglas S. Gordon Jan 21, 2014 to Mar 8, 202413
- PresidentJeffrey R. McGuiness Feb 11, 2021 to Apr 25, 202414
- PresidentEric J. Egenhoefer Jan 21, 2014 to Dec 14, 201815
- Chief financial officerMark Raymond Gerke Mar 9, 2016 to now16
- Chief financial officerAllan Robert Hosack Feb 27, 2014 to Mar 5, 201517
- Chief operating officerKevin P. Gillespie Apr 8, 2016 to Apr 8, 201618
- Chief operating officerWilliam F. Bruss Jan 21, 2014 to Mar 8, 202419
Board members and other officers (15)
- Senior Vice PresidentJulie Ann Glynn Mar 8, 2024 to now20
- EVP/Chief Credit OfficerRyan J. Gordon Apr 7, 2023 to now21
- Vice PresidentRebecca M. Arndt Jan 21, 2014 to Mar 7, 201822
- VP/ControllerMark Raymond Gerke Feb 27, 2014 to Jun 23, 201723
- Board memberLaura Ellen Piotrowski Oct 2, 2025 to now24
- Board memberMolly A. Mulroy Oct 2, 2025 to now25
- Board memberDerek L. Tyus Feb 17, 2021 to Feb 17, 202126
- Board memberDouglas S. Gordon Jan 21, 2014 to now13
- Board memberMichael L. Hansen Jan 21, 2014 to now27
- Board memberPatrick S. Lawton Jan 21, 2014 to now28
- Board memberStephen J. Schmidt Jan 21, 2014 to Feb 12, 202529
- Board memberThomas E. Dalum Jan 21, 2014 to Jan 3, 202230
- Board memberEllen Syburg Bartel Feb 4, 2014 to Sep 16, 202431
- Board memberKristine A. Rappe Feb 4, 2014 to Feb 14, 202532
- General counselWilliam F. Bruss Jan 21, 2014 to Mar 8, 202419
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Main Street Real Estate Holdings, LLC Wisconsin3
- WaterStone Bank, SSB Wisconsin3
- Waterstone Mortgage Corporation Wisconsin3
- Wauwatosa Investments, Inc. Nevada3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 22, 20268-K Other events33
- Jul 23, 20268-K Results of operations34
- Jun 23, 20268-K Other events35
- May 19, 20268-K Shareholder vote36
- Apr 27, 20268-K Other events37
- Apr 23, 20268-K Results of operations38
- Mar 17, 20268-K Other events39
- Jan 28, 20268-K Results of operations40
- Dec 18, 20258-K Other events41
- Oct 23, 20258-K Results of operations42
- Oct 21, 20258-K Executive or director change43
- Sep 23, 20258-K Other events44
- Jan 21, 2014New chief executive Douglas S. Gordon becomes CEO13
Calendar
Coming up
- Oct 22, 2026Reports results for the quarter ending Sep/202645
When it reported results
- Jul 23, 2026Reported quarterly or annual results34
- Apr 23, 2026Reported quarterly or annual results38
- Jan 28, 2026Reported quarterly or annual results40
- Oct 23, 2025Reported quarterly or annual results42
- Jul 22, 2025Reported quarterly or annual results46
- Apr 22, 2025Reported quarterly or annual results47
- Jan 28, 2025Reported quarterly or annual results48
- Oct 22, 2024Reported quarterly or annual results49
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
178 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 53 insider forms, 16 large holders, 32 other. The latest 20:
- Sep 22, 20268-K EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 6, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jun 23, 20268-K EDGAR
- Jun 3, 202611-K EDGAR
- May 22, 20264 EDGAR
- May 21, 2026144 EDGAR
- May 19, 20268-K EDGAR
- May 7, 202610-Q EDGAR
- Apr 27, 20268-K EDGAR
- Apr 23, 20268-K EDGAR
- Apr 9, 2026ARS EDGAR
- Apr 9, 2026DEF 14A EDGAR
- Mar 17, 20268-K EDGAR
- Feb 26, 202610-K EDGAR
- Feb 20, 20264 EDGAR
- Feb 10, 20264 EDGAR
- Feb 6, 20264 EDGAR
The 178 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
55 open-market trades by officers, directors and large owners since October 2021: 1 buys and 54 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Gordon Ryan JEVP/Chief Credit Officer | Sale | 8,157 | $21.14 | $172.4K | Form 4 |
| May 21, 2026 | Gerke Mark RaymondEVP/Chief Financial Officer | Sale | 10,000 | $18.34 | $183.4K | Form 4 |
| Feb 18, 2026 | Gordon Douglas SDirector | Sale | 2,880 | $18.11 | $52.2K | Form 4 |
| Feb 6, 2026 | Gordon Douglas SDirector | Sale | 6,765 | $18.27 | $123.6K | Form 4 |
| Feb 5, 2026 | Gordon Douglas SDirector | Sale | 18,716 | $18.25 | $341.6K | Form 4 |
| Feb 4, 2026 | Gordon Douglas SDirector | Sale | 15,000 | $18.55 | $278.2K | Form 4 |
| Feb 4, 2026 | Lawton Patrick SDirector | Sale | 19,255 | $18.64 | $358.9K | Form 4 |
| Feb 3, 2026 | Lawton Patrick SDirector | Sale | 30,000 | $18.53 | $555.9K | Form 4 |
| Feb 2, 2026 | Glynn Julie AnnEVP/Chief Retail Officer | Sale | 20,929 | $18.19 | $380.8K | Form 4 |
| Oct 27, 2025 | Hansen Michael LDirector | Sale | 81,413 | $15.16 | $1.2M | Form 4 |
| Aug 13, 2025 | Hansen Michael LDirector | Sale | 109,527 | $14.05 | $1.5M | Form 4 |
| Aug 12, 2025 | Hansen Michael LDirector | Sale | 35,290 | $13.92 | $491.2K | Form 4 |
| Aug 11, 2025 | Hansen Michael LDirector | Sale | 2,757 | $13.80 | $38.0K | Form 4 |
| Jul 25, 2025 | Hansen Michael LDirector | Sale | 961 | $13.81 | $13.3K | Form 4 |
| Jul 24, 2025 | Hansen Michael LDirector | Sale | 36,465 | $13.83 | $504.3K | Form 4 |
| Feb 28, 2025 | Gerke Mark RaymondEVP/Chief Financial Officer | Sale | 2,738 | $14.15 | $38.7K | Form 4 |
| Feb 28, 2025 | Lawton Patrick SDirector | Sale | 37,500 | $14.03 | $526.1K | Form 4 |
| Feb 13, 2025 | RAPPE KRISTINE ADirector | Sale | 22,185 | $14.25 | $316.1K | Form 4 |
| Feb 11, 2025 | Schmidt Stephen JDirector | Sale | 6,211 | $13.79 | $85.7K | Form 4 |
| Feb 6, 2025 | Schmidt Stephen JDirector | Sale | 3,097 | $13.75 | $42.6K | Form 4 |
All 55 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BlackRockSCHEDULE 13G/A, 4 filings Feb 3, 2022 to Jan 21, 202650
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Nov 4, 2024 to Jan 31, 202551
- RENAISSANCE TECHNOLOGIES LLCSC 13G/A, 3 filings Feb 11, 2022 to Feb 13, 202452
- Principal Financial GroupSC 13G/A, 3 filings Feb 7, 2022 to Feb 12, 202453
- DIMENSIONAL FUND ADVISORS LPSC 13G/A, 3 filings Feb 8, 2022 to Feb 9, 202454
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | William F. Bruss | $439.0K | $785.2K55 | |
| 2025 | Mark R. Gerke | $300.8K | $561.2K55 | |
| 2025 | Julie A. Glynn | $276.5K | $508.6K55 | |
| 2025 | Jeffrey R. McGuiness | $463.5K | $505.5K55 | |
| 2025 | Ryan J. Gordon | $264.6K | $495.0K55 | |
| 2024 | PresidentChief Executive Officer Chief Operating Officer and General Counsel (2022-2023) | $426.2K | $714.6K55 | |
| 2024 | President of Waterstone Mortgage Corporation | $450.0K | $577.3K55 | |
| 2024 | Chief Financial Officer of Waterstone Financial and | $292.0K | $499.5K55 | |
| 2024 | Senior VicePresident and Director of Retail of | $268.4K | $449.9K55 | |
| 2023 | of Waterstone Financial and WaterStone Bank | $387.5K | $654.6K55 | |
| 2023 | President of Waterstone Mortgage Corporation | $450.0K | $461.2K55 | |
| 2023 | WaterStone Bank | $265.0K | $457.1K55 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Waterstone Financial, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWaterstone Financial, Inc.1
- CIK0001569994
- Employer ID (EIN)90-10267094
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inMaryland4
- Fiscal year endsDecember 311
- Industry code (SIC)6035 Savings Institution, Federally Chartered1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address11200 West Plank Court, Wauwatosa, WI 532261
- Phone(414) 761-10001
- Shares outstanding17,977,028 as of Jul 31, 202611
- Public float$246.2M as of Jun 30, 20254
- AuditorForvis Mazars, LLP, Kansas City, Missouri PCAOB ID 686; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceJun 7, 20131
- Filings538 in all: 8-K (179), 4 (163), 10-Q (39), SC 13G/A (32), 3 (20), 144 (17), DEF 14A (15), 10-K (13)1
All 30 form types
11-K (12), S-1/A (5), 4/A (4), 424B3 (4), ARS (4), SC 13G (4), CORRESP (3), DEFA14A (3), S-8 (3), 425 (2), 5 (2), 8-K/A (2), SCHEDULE 13G/A (2), UPLOAD (2), 8-A12B (1), EFFECT (1), NT 10-K (1), NT 10-K/A (1), NT 10-Q (1), S-1 (1), SC 13D (1), SC 13D/A (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 9, 2026
Latest 8-K (8-K) Sep 22, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 Par Value | WSBF | NASDAQ |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Waterstone Financial, Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 49 risks under these headings, as written.4
- Risks Related to Regulatory Matters
- We operate in a highly regulated environment and we are subject to supervision, examination and enforcement action by various bank regulatory agencies.
- Non-compliance with the USA PATRIOT Act, Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.
- Monetary policies and regulations of the Federal Reserve Board could adversely affect our business, financial condition and results of operations.
- We are subject to the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to material penalties.
- The Federal Reserve Board may require us to commit capital resources to support WaterStone Bank.
- We may become subject to enforcement actions even though non-compliance was inadvertent or unintentional.
- Risks Related to Interest Rates
- Changing interest rates may have a negative effect on our results of operations.
- Hedging against interest rate exposure may adversely affect our earnings
- Risks Related to Economic Matters
- Changes in economic conditions could adversely affect our earnings, as our borrowers’ ability to repay loans and the value of the collateral securing our loans decline.
The other 40 risks
- Inflation can have an adverse impact on our business and on our customers.
- Risks Related to Lending Matters
- We intend to increase our commercial business lending, and we intend to continue our commercial real estate and multi-family residential real estate lending, which may expose us to increased lending risks and have a negative effect on our results of operations.
- Our allowance for credit losses may prove to be insufficient to absorb life-time losses in our loan portfolio, which may adversely affect our business, financial condition and results of operations.
- Uncertainties associated with increased originations of commercial business loans, as well as continued originations of commercial real estate and multi-family residential real estate loans may result in errors in judging collectability, which may lead to additional provisions for credit losses or charge-offs, which would negatively affect our operations.
- We are subject to environmental liability risk associated with lending activities.
- Risks Related to Operational Matters
- We rely heavily on certificates of deposit, which has increased our cost of funds and could continue to do so in the future.
- We may not be able to attract and retain skilled people.
- Loss of key employees may disrupt relationships with certain customers.
- Because the nature of the financial services business involves a high volume of transactions, we face significant operational risks.
- Risks associated with system failures, interruptions, or breaches of cybersecurity could negatively affect our earnings.
- Our risk management framework may not be effective in mitigating risk and reducing the potential for significant losses.
- Our business may be adversely affected by an increasing prevalence of fraud and other financial crimes.
- Fraud by merchants or others could have a material adverse effect on our business and financial condition.
- The potential for fraud in the card payment industry is significant and could adversely affect our business and results of operations.
- We face funds transfer and payments-related risks.
- Our reliance on and integration of artificial intelligence (AI) and machine learning (ML) technologies expose us to various risks, including operational, data, regulatory, and reputational risks, which could materially affect our business and financial results.
- Our board of directors relies to a large degree on management and outside consultants in overseeing cybersecurity risk management.
- Our funding sources may prove insufficient to replace deposits at maturity and support our future growth.
- The soundness of other financial institutions could adversely affect us.
- Recently we have held larger levels of certificates of deposit, which has increased our cost of funds and could continue to do so in the future.
- Interruption of our customers’ supply chains and federal funding could negatively impact their business and operations and impact their ability to repay their loans.
- Changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations.
- Risks Related to Competitive Matters
- Consumers may decide to use alternative options to complete financial transactions.
- Strong competition within our market areas may limit our growth and profitability.
- The grant of bank charters and special purpose fintech charters by the Office of the Comptroller of the Currency to fintech companies could present financial risk and market risk to us generally and the payments processing business specifically.
- Risks Related to Mortgage Banking Operations
- Secondary mortgage market conditions could have a material impact on our financial condition and results of operations.
- Changes in the programs offered by secondary market purchasers or our ability to qualify for their programs may reduce our mortgage banking revenues, which would negatively impact our non-interest income.
- If we are required to repurchase mortgage loans that we have previously sold, it could negatively affect our earnings.
- Risks Related to Environmental and Other Global Matters
- Societal responses to climate change could adversely affect our business and performance, including indirectly through impacts on our customers.
- Our business, financial condition, and results of operations could be adversely affected by natural disasters, health epidemics, and other catastrophic events.
- Risks Related to Accounting Matters
- Changes in our accounting policies or in accounting standards could materially affect how we report our financial condition and results of operations.
- The need to account for certain assets at estimated fair value may adversely affect our results of operations.
- Other Risks Related to Our Business
- Legal and regulatory proceedings and related matters could adversely affect us or the financial services industry in general.
- Changes in the valuation of our securities portfolio could adversely affect our profits.
- New lines of business or new products and services may subject us to additional risks.
- A lack of liquidity could adversely affect our financial condition and results of operations.
- Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
- Acquisitions may disrupt our business and dilute stockholder value.
- Various factors may make takeover attempts more difficult to achieve.
- Potential downgrades of U.S. government securities by one or more of the credit ratings agencies could have a material adverse effect on our operations, earnings and financial condition.
Legal proceedings
The information required by this item is set forth in Note 13 - Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities of the notes to consolidated financial statements.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARJeffrey R. McGuiness, President
- 15SEC EDGAREric J. Egenhoefer, President
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- 22SEC EDGARRebecca M. Arndt, Vice President
- 23SEC EDGARMark Raymond Gerke, VP/Controller
- 24SEC EDGARLaura Ellen Piotrowski, Board member
- 25SEC EDGARMolly A. Mulroy, Board member
- 26SEC EDGARDerek L. Tyus, Board member
- 27SEC EDGARMichael L. Hansen, Board member
- 28SEC EDGARPatrick S. Lawton, Board member
- 29SEC EDGARStephen J. Schmidt, Board member
- 30SEC EDGARThomas E. Dalum, Board member
- 31SEC EDGAREllen Syburg Bartel, Board member
- 32SEC EDGARKristine A. Rappe, Board member
- 33SEC EDGAROther events
- 34SEC EDGARResults of operations
- 35SEC EDGAROther events
- 36SEC EDGARShareholder vote
- 37SEC EDGAROther events
- 38SEC EDGARResults of operations
- 39SEC EDGAROther events
- 40SEC EDGARResults of operations
- 41SEC EDGAROther events
- 42SEC EDGARResults of operations
- 43SEC EDGARExecutive or director change
- 44SEC EDGAROther events
- 45NasdaqNasdaq calendar
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