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Posted 25 July, 2023

Waterstone Financial, Inc. appointed William F. Bruss as new CEO

Nasdaq:WSBF appointed new Chief Executive Officer William F. Bruss in a 8-K filed on 25 July, 2023.


  On July 25, 2023, the Boards of Directors of the Company and the Bank elected William F. Bruss, to serve as the next CEO of the Company and the Bank effective January 1, 2024.  

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Overview of Waterstone Financial, Inc.
Financial Services • Banking
Waterstone Financial, Inc. operates as a loan holding company, which provides principal lending activities. The firm operates through the following segments: Community Banking and Mortgage Banking. The Community Banking segment provides consumer and business banking products and services to customers primarily within Southeastern Wisconsin. The Mortgage Banking segment involves residential mortgage loans for the primary purpose of sale in the secondary market. It also offers real estate and commercial business loans, and consumer loans. The company was founded in 1921 and is headquartered in Wauwatosa, WI.
Market Cap
$249M
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Waterstone Financial, Inc. by TradingView
Relevant filing section
Item 5.02(b) section - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On July 25, 2023, Douglas S. Gordon, Chief Executive Officer ("CEO") of Waterstone Financial, Inc. (the "Company") notified the Company of his intention to retire from his position as CEO of the Company and its wholly owned subsidiary, WaterStone Bank (the "Bank"), effective December 31, 2023. Mr. Gordon will continue to serve on the Board of Directors of the Company and the Bank. Mr. Gordon will also continue to serve on the Board of Directors of Waterstone Mortgage, a wholly owned subsidiary of the Bank. 

 

On July 25, 2023, the Boards of Directors of the Company and the Bank elected William F. Bruss, to serve as the next CEO of the Company and the Bank effective January 1, 2024. 

 

Mr. Bruss, who has been an executive officer of the Company since 2005, will continue to serve in the position of President of the Company and the Bank through December 31, 2023. Mr. Bruss has served in a variety of executive positions with the Company and the Bank over his tenure with the organization. Since January 2022, he has served as President of the Company and the Bank. Prior to serving as President, Mr. Bruss served as Executive Vice President of the Company and the Bank since 2015, Chief Operating Officer from 2013 through 2022 and General Counsel and Secretary since 2005.

 

The Compensation Committee of the Board of Directors of the Company intends to review the compensation arrangements of Mr. Bruss prior to the effective date of his election as CEO.

 

A copy of the press release announcing Mr. Gordon's intention to retire as CEO of the Company and Bank, effective December 31, 2023, and the election of Mr. Bruss to serve as the next CEO of the Company and Bank effective January 1, 2024, is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.