Waterstone Financial Announces Director Retirement

Rhea-AI Summary

Waterstone Financial (WSBF) has announced the retirement of Director Michael Hansen, who has served on the company's board since 2003. Hansen currently chairs the Audit Committee and serves on both the Board Executive Committee and Nominating and Corporate Governance Committee.

Hansen will continue in his current roles during a transition period until a successor is elected to the Board of Directors. During this transition, he plans to sell company shares as part of his retirement and estate planning strategy.

Board Chairman Patrick Lawton acknowledged Hansen's 22 years of service, highlighting his leadership and vital contributions to the company, particularly in his role leading the Audit Committee.

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On the day this news was published, WSBF declined 0.57%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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. Gerke
Chief Financial Officer
414.459.4012
markgerke@wsbonline.com

FAQ

When is Michael Hansen retiring from Waterstone Financial's board?

Michael Hansen announced his retirement in April 2025, but will continue serving until a successor is elected to the Board of Directors.

What positions did Michael Hansen hold at Waterstone Financial (WSBF)?

Hansen served as Director, Chair of the Audit Committee, and member of both the Board Executive Committee and Nominating and Corporate Governance Committee.

How long did Michael Hansen serve on Waterstone Financial's board?

Michael Hansen served on Waterstone Financial's board for 22 years, since 2003.

Will Michael Hansen's retirement affect WSBF stock?

Hansen plans to sell company shares during the transition period as part of his retirement and estate planning objectives, which could impact stock trading volumes.

Who will replace Michael Hansen on Waterstone Financial's board?

A successor has not yet been announced. Hansen will continue serving until a new board member is elected.