Waterstone Financial, Inc. (WSBF) company profile
Close on Nov 13, 2026Market cap $360.26MP/E 11.7Yield 2.99%
About Waterstone Financial
Savings Institution, Federally Chartered, SIC 6035
Waterstone Financial, Inc. operates as the bank holding company for WaterStone Bank SSB, delivering community banking and mortgage banking services to consumer and commercial clients. The institution originates multi-family residential, one- to four-family residential, and commercial real estate loans, as well as home equity lines, construction loans, and commercial business credit. Additionally, the company accepts retail and brokered deposits, including certificates of deposit, money market accounts, checking accounts, and retirement accounts. Through its subsidiary Waterstone Mortgage Corporation, it originates single-family residential mortgages for sale in the secondary mortgage market.
The company conducts its operations from executive offices in Wauwatosa, Wisconsin. Its community banking network comprises 14 banking offices across Milwaukee, Washington, and Waukesha counties in southeastern Wisconsin, with lending reaching Madison, Green Bay, and Appleton. Furthermore, its mortgage banking subsidiary maintains 55 offices across 24 states, including Florida, New Mexico, and Texas.
Summary of the business section of Waterstone Financial's latest annual report, written by StockData.
Company profile
Company
- Legal name
- Waterstone Financial, Inc.
- Founded
- 1921
- Headquarters
- Wauwatosa, WI
- Address
- 11200 West Plank Court 53226
- Phone
- (414) 761-1000
- Website
- wsbonline.com
- Employees
- 593, Dec 31, 2025
- Industry
- Savings Institution, Federally Chartered
- Incorporated in
- Maryland
- Fiscal year ends
- December 31
- Auditor
- Forvis Mazars, LLP, Kansas City, Missouri
Stock & identifiers
- Ticker
- WSBF
- Exchange
- Nasdaq
- IPO date
- Oct 5, 2005
- Shares outstanding
- 18M, Jul 31, 2026
- Public float
- $246.20M, Jun 30, 2025
- Filer category
- Accelerated filer
- SEC CIK
- 1569994
- CUSIP
- 94188P101
- ISIN
- US94188P1012
- FIGI
- BBG000FRZWN9
- Share class FIGI
- BBG001SNPYP7
- LEI
- 5493002KM21XRC2DCQ02
- EIN
- 00-0000000
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Ryan J. Gordon | EVP/Chief Credit Officer | 62,357 |
| Mark Raymond Gerke | EVP/Chief Financial Officer | 74,460 |
| Julie Ann Glynn | EVP/Chief Retail Officer | 19,644 |
| Douglas S. Gordon | Director | 632,771 |
| Patrick S. Lawton | Director | 10,000 |
| Michael L. Hansen | Director | 0 |
| Molly A. Mulroy | Director | 8,798 |
| Laura Ellen Piotrowski | Director | 8,798 |
| Kristine A. Rappe | Director | 27,318 |
| Stephen J. Schmidt | Director | 70,078 |
CEO pay and shareholder return
Pay versus performance table from the proxy statement
| Fiscal year | CEO total pay | CEO pay actually paid | Other executives (avg) | Value of $100 invested | Peer group |
|---|---|---|---|---|---|
| FY2025 | $785.16K | $790.70K | $517.59K | $129 | $133 |
| FY2024 | $714.58K | $673.17K | $493.33K | $99 | $133 |
| FY2023 | $1.56M | $1.39M | $480.74K | $87 | $97 |
| FY2022 | $1.34M | $1.22M | $464.91K | $84 | $98 |
| FY2021 | $1.60M | $1.56M | $595.63K | $124 | $124 |
| FY2020 | $1.48M | $1.47M | $508.93K | $107 | $90 |
“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.
Executive compensation, fiscal 2025
Summary compensation table from the latest proxy statement
| Executive | Salary | Stock awards | Incentive pay | Other | Total | vs. prior year |
|---|---|---|---|---|---|---|
| William F. Bruss President, Chief Executive Officer (2024) Chief Operating Officer and General Counsel (2022-2023) of Waterstone Financial and WaterStone Bank | $439.04K | $65.85K | $214.60K | $65.68K | $785.16K | +10% |
| Mark R. Gerke Chief Financial Officer of Waterstone Financial and WaterStone Bank | $300.76K | $45.11K | $147.01K | $68.33K | $561.21K | +12% |
| Julie A. Glynn Senior Vice President and Director of Retail of WaterStone Bank | $276.46K | $41.46K | $130.51K | $60.20K | $508.63K | +13% |
| Ryan J. Gordon Senior Vice President and Chief Credit Officer of WaterStone Bank | $264.56K | $39.68K | $122.09K | $68.69K | $495.01K | +11% |
| Jeffrey R. McGuiness President of Waterstone Mortgage Corporation | $463.50K | – | $33.28K | $8.75K | $505.53K | -12% |
Stock and option awards are grant-date fair values, not realized pay. “Other” includes pension value changes and all other compensation. Source proxy statement.
Employees
Headcount reported in annual reports
“As of December 31, 2025, we had 593 full-time equivalent employees.”
Corporate history
Events identified from SEC filings
| Date | Event | Details |
|---|---|---|
| Nov 9, 2026 | Late filing | Notification of late filing |
| Mar 3, 2023 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Jan 17, 2023 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Jun 2, 2021 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| May 11, 2020 | Late filing | Notification of late filing |
| Jun 5, 2014 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Mar 18, 2014 | Late filing | Notification of late filing |
| Jan 21, 2014 | Listing | Registration of securities on an exchange (Form 8-A) |
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