Waterstone Financial appoints two new board members

WAUWATOSA, Wis. - Waterstone Financial, Inc. (NASDAQ:WSBF), a $264 million market cap financial institution with a solid dividend track record spanning 12 consecutive years, announced Wednesday the appointment of Molly Mulroy and Laura Piotrowski to its Board of Directors, effective July 22, 2025.

The two executives will serve on the boards of both WaterStone Bank and its parent company, Waterstone Financial. According to InvestingPro data, the company maintains a healthy 4.32% dividend yield and trades at a P/E ratio of 13.57, suggesting attractive shareholder returns.

Mulroy currently serves as Executive Vice President and Chief Administrative Officer at WEC Energy Group, where she oversees numerous departments including Human Resources, IT Services, and Supply Chain. Since joining WEC Energy Group in 1999, she has held various leadership positions and currently serves on several community boards including Milwaukee Ballet and Milwaukee Tech Hub.

Piotrowski is the CEO and President of Cavendish Vernal, a strategic advisory firm she founded in 2017. Her previous experience includes serving as Executive Vice President of The Benefit Companies and holding senior finance roles including Chief Financial Officer at Stein’s Garden & Home and Managing Director of Finance for Robert W. Baird & Co.

"We are honored to have Molly and Laura join the Board of Directors of WaterStone Bank and Waterstone Financial," said Pat Lawton, Chair of the Board, in a press release statement.

Waterstone Financial operates 14 branch locations across southeastern Wisconsin and is the parent company of WaterStone Mortgage Corporation, which is licensed in 48 states.

In other recent news, Waterstone Financial, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.15 per common share. This dividend will be payable on August 1, 2025, to shareholders of record as of July 8, 2025. Additionally, the company revealed that Michael Hansen, a long-serving director, will retire from the board after more than two decades. Hansen, who has been an influential figure as the chair of the Audit Committee, will remain in his position until a successor is appointed. During his transition, Hansen plans to sell shares of the company stock as part of his retirement and estate planning. The company is in the process of selecting a new director to fill Hansen’s role, although no specific timeline has been disclosed. Waterstone Financial continues to operate through its subsidiary, WaterStone Bank, and is affiliated with WaterStone Mortgage Corporation. These developments were communicated through press releases issued by the company.

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