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Waterstone Financial Announces Director Retirement

1. Michael Hansen will retire as Director after 22 years of service. 2. He remains Audit Committee chair until a successor is found. 3. Hansen will sell shares as part of retirement planning. 4. Waterstone Financial emphasizes community banking and financial innovation. 5. The company operates 14 branches in southeastern Wisconsin.

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FAQ

Why Neutral?

While Hansen's departure may concern investors, no immediate risk is evident. His continued involvement and the company's strong foundation can alleviate market fears.

How important is it?

The change in leadership, along with share sales for transition purposes, indicates potential volatility but seems manageable given Hansen's ongoing role.

Why Short Term?

Immediate responses to leadership changes can affect stock, but stability in operations is expected. Historical examples show that transitions often stabilize after initially reactive trading.

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WSBF
WAUWATOSA, Wis., April 17, 2025 (GLOBE NEWSWIRE) -- Waterstone Financial, Inc. (the “Company”), announced today that Michael Hansen has decided to retire as a Director of the Company and its wholly-owned subsidiary WaterStone Bank SSB. Mr. Hansen has been a director of the Company since 2003.  Mr. Hansen serves as a member and the chair of the Company’s Audit Committee and as a member of the Company’s Board Executive Committee and Nominating and Corporate Governance Committee.  Mr. Hansen will remain a Director of the Company and WaterStone Bank, and continue to serve as chair of the Audit Committee and as a member of the Board Executive Committee and Nominating and Corporate Governance Committee until a successor has been elected to the Company’s Board of Directors. During this period of transition, Mr. Hansen will be selling shares of Company stock as part of his broader retirement and estate planning objectives. “I thank Mike for his 22 years of service and valued leadership for our company,” said Patrick Lawton, Chairman of the Company. “Mike has been 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.” About Waterstone Financial, Inc: Waterstone Financial, Inc. is the savings and loan holding company for WaterStone Bank, a community-focused financial institution established in 1921. WaterStone Bank offers a comprehensive suite of personal and business banking products and operates 14 branch locations across southeastern Wisconsin. WaterStone Bank is also the parent company of WaterStone Mortgage Corporation, a national lender licensed in 48 states. With a long-standing commitment to innovation, integrity, and community service, Waterstone Financial, Inc. supports the financial and homeownership goals of customers nationwide. For more information about WaterStone Bank, visit wsbonline.com. Contact:Mark R. GerkeChief Financial Officer414.459.4012markgerke@wsbonline.com

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