[Form 3] Waterstone Financial, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Waterstone Financial, Inc. (WSBF) director Molly A. Mulroy reported direct ownership of 8,798 shares of the issuer's common stock. The event requiring the statement occurred on 07/22/2025 and the Form 3 was submitted reflecting her role as a director. The filing is an initial ownership report and was executed via attorney-in-fact on 10/02/2025.

Positive

• Director ownership disclosed, indicating alignment of the reporting director's interests with shareholders
• Initial Form 3 filed, showing compliance with Section 16(a) reporting requirements

Negative

• Holding appears immaterial relative to an investor-control threshold and does not indicate meaningful influence
• No derivative securities disclosed, limiting insight into potential future equity exposure or compensation structure

Insights

Corporate Governance Expert

TL;DR: Routine director disclosure showing modest direct ownership, aligning basic insider reporting compliance.

The Form 3 documents a standard initial beneficial ownership disclosure for a director. Ownership of 8,798 shares is explicitly reported as direct and there are no derivative positions listed. This is a compliance-focused filing that confirms the director has a stake in the company but does not indicate material control or large economic exposure. The timing and attorney-in-fact signature indicate normal procedural handling.

Securities Analyst

TL;DR: Non-material holding disclosed; unlikely to move investor valuation or signal strategic change.

The report lists only common stock and shows no options, warrants, or convertible instruments. A direct holding of 8,798 shares is relatively small for most public companies and the filing contains no transactions or changes in outstanding positions. From a market-impact perspective this disclosure is informational and routine.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Mulroy Molly A

(Last) (First) (Middle)

11200 WEST PLANK COURT

(Street)

WAUWATOSA WI 53226

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/22/2025

3. Issuer Name and Ticker or Trading Symbol
Waterstone Financial, Inc. [ WSBF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,798	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ William F. Bruss, Attorney-in-fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the Form 3 filed by Molly A. Mulroy for WSBF report?

The Form 3 reports that Molly A. Mulroy, a director of Waterstone Financial, Inc. (WSBF), directly owns 8,798 shares of common stock.

When was the event requiring the Form 3 reported for WSBF?

The date of the event requiring the statement is 07/22/2025 and the Form 3 was signed via attorney-in-fact on 10/02/2025.

Does the Form 3 for Mulroy include any derivative securities for WSBF?

No. The filing lists only common stock and shows no derivative securities such as options, warrants, or convertible instruments.

Was this Form 3 filed by a single reporting person?

Yes. The form indicates it was filed by one reporting person rather than jointly.

What is the relationship of the reporting person to WSBF?

The filing identifies Molly A. Mulroy as a director of Waterstone Financial, Inc.