Waterstone Financial announces director retirement and transition

WAUWATOSA, Wis. - Waterstone Financial, Inc. (NASDAQ:WSBF), a savings and loan holding company with a market capitalization of $211.69 million, announced today that Michael Hansen will retire as a Director of the Company and its wholly-owned subsidiary WaterStone Bank SSB. Hansen, who has served on the board since 2003, will continue in his current roles until a successor is appointed. According to InvestingPro data, the company maintains a FAIR financial health score, reflecting its stable position in the market.

Hansen has held significant positions within the company, notably as the chair of the Audit Committee and as a member of both the Board Executive Committee and the Nominating and Corporate Governance Committee. His decision to step down comes after more than two decades of service to the company.

Patrick Lawton, Chairman of Waterstone Financial, expressed gratitude for Hansen’s contributions, stating, "Mike has been a vital member of our board and a strong leader of the Audit Committee and we are grateful for Mike’s commitment to continue to serve the Company as we work to identify a successor."

During the transition period, Hansen will also begin selling shares of company stock, which is part of his retirement and estate planning. The company’s stock currently offers a notable 4.93% dividend yield and has maintained dividend payments for 12 consecutive years, as reported by InvestingPro. The process of selecting a new director to take over Hansen’s responsibilities is currently underway.

Waterstone Financial, Inc. is the parent company of WaterStone Bank, which has provided community-focused financial services since 1921. Trading at a price-to-book ratio of 0.63, the company demonstrates strong value characteristics. With 14 branch locations in southeastern Wisconsin, WaterStone Bank offers a range of personal and business banking products. Additionally, Waterstone Financial is affiliated with WaterStone Mortgage Corporation, a national lender licensed in 48 states. For deeper insights into Waterstone Financial’s valuation and performance metrics, investors can access additional analysis through InvestingPro.

This announcement is based on a press release statement from Waterstone Financial, Inc. The company has not disclosed a specific timeline for the completion of the director succession process.

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