Michael Hansen will retire as a Director of Waterstone Financial, continuing until a successor is elected.
Quiver AI Summary
Waterstone Financial, Inc. announced the upcoming retirement of Michael Hansen as a Director of the Company and WaterStone Bank, a role he has held since 2003. Hansen, who is the chair of the Audit Committee and a member of the Board Executive and Nominating and Corporate Governance Committees, will remain in his positions until a successor is appointed. During this transition, he plans to sell shares of Company stock as part of his retirement and estate planning. Chairman Patrick Lawton expressed gratitude for Hansen's 22 years of service and leadership, emphasizing his crucial role on the board. Waterstone Financial, established in 1921, operates WaterStone Bank and provides a variety of financial services across southeastern Wisconsin.
Potential Positives
- Michael Hansen's long service of 22 years as a director demonstrates stability and leadership within the Company, contributing to investor confidence.
- The announcement highlights the structured transition process with Hansen remaining in key positions until a successor is identified, ensuring continuity in governance.
- The Company emphasizes its commitment to community service and innovation, enhancing its reputation as a customer-focused financial institution.
Potential Negatives
- Mr. Hansen's retirement from the Board raises concerns about the potential lack of continuity in leadership during the transition period.
- Mr. Hansen will be selling shares of Company stock, which could signal to investors that he may have reservations about the company's future performance.
- The announcement highlights the significant dependency on Mr. Hansen’s experience, particularly in the Audit Committee, which may leave a gap in oversight during the succession process.
FAQ
Who is retiring from Waterstone Financial's Board of Directors?
Michael Hansen is retiring as a Director of Waterstone Financial, Inc. after 22 years of service.
What positions did Michael Hansen hold at Waterstone Financial?
Michael Hansen served as the chair of the Audit Committee and was a member of the Executive and Nominating Committees.
Will Michael Hansen continue to serve during the transition?
Yes, he will remain a Director and continue his committee roles until a successor is elected.
What role does Waterstone Bank play in the community?
WaterStone Bank offers personal and business banking products and has served the community since 1921.
How can I contact Waterstone Financial for more information?
You can contact Mark R. Gerke, CFO, at 414.459.4012 or [email protected].
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WSBF Insider Trading Activity
$WSBF insiders have traded $WSBF stock on the open market 213 times in the past 6 months. Of those trades, 0 have been purchases and 213 have been sales.
Here’s a breakdown of recent trading of $WSBF stock by insiders over the last 6 months:
- STEPHEN J SCHMIDT has made 0 purchases and 177 sales selling 100,000 shares for an estimated $1,473,584.
- KRISTINE A RAPPE has made 0 purchases and 34 sales selling 100,000 shares for an estimated $1,468,926.
- PATRICK S LAWTON sold 37,500 shares for an estimated $526,061
- MARK RAYMOND GERKE (EVP/Chief Financial Officer) sold 2,738 shares for an estimated $38,729
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WSBF Hedge Fund Activity
We have seen 35 institutional investors add shares of $WSBF stock to their portfolio, and 42 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC removed 108,971 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,464,570
- VANGUARD GROUP INC removed 82,704 shares (-8.1%) from their portfolio in Q4 2024, for an estimated $1,111,541
- DEAN INVESTMENT ASSOCIATES, LLC removed 56,919 shares (-53.1%) from their portfolio in Q4 2024, for an estimated $764,991
- CITADEL ADVISORS LLC added 41,908 shares (+inf%) to their portfolio in Q4 2024, for an estimated $563,243
- FOURTHSTONE LLC added 37,511 shares (+inf%) to their portfolio in Q4 2024, for an estimated $504,147
- JPMORGAN CHASE & CO added 33,715 shares (+64.9%) to their portfolio in Q4 2024, for an estimated $453,129
- DEAN CAPITAL MANAGEMENT removed 33,560 shares (-49.8%) from their portfolio in Q4 2024, for an estimated $451,046
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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
[email protected]
