Waterstone Financial, Inc. operates as a bank holding company for WaterStone Bank SSB that provides various financial services to customers in southeastern Wisconsin, the United States. It operates through two segments, Community Banking and Mortgage Banking. The Community Banking segment offers consumer and business banking products and services, such as deposit and transactional solutions, including checking accounts, online banking and bill pay services, and money transfer services, as well as credit, debit, and pre-paid cards; investable funds solutions comprising savings, money market deposit, and individual retirement accounts, as well as certificates of deposit; lending solutions consisting of residential mortgages, home equity loans and lines of credit, personal and installment loans, real estate financing, business loans, and business lines of credit; and fixed and variable annuities, and insurance products, as well as trust and investment management accounts. The Mortgage Banking segment provides residential mortgage loans for the purpose of sale in the secondary market. The company also provides transaction deposit, demand deposit, and non-interest bearing demand accounts, as well as time deposits; construction and land loans; and term loans for working capital, inventory, and general corporate use. In addition, it invests in a portfolio of securities, which include mortgage-backed securities, government-sponsored enterprise bonds, municipal obligations, and other debt securities. Waterstone Financial, Inc. operates 11 full-service banking offices, 1 drive-through office, and 11 automated teller machines located in Milwaukee, Washington, and Waukesha Counties, Wisconsin, as well as a loan production office in Minneapolis, Minnesota. The company was formerly known as Wauwatosa Holdings, Inc. and changed its name to Waterstone Financial, Inc. in August 2008. Waterstone Financial, Inc. was founded in 1921 and is based in Wauwatosa, Wisconsin.
