Banking
Waterstone Financial Executive Compensation (FY25)
WSBF · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 19, 2026
182 figures on this page: 171 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
William Bruss, President and Chief Executive Officer of Waterstone Financial and WaterStone Bank, received $785,156 in total compensation for fiscal 2025, and compared with the $714,583 reported for fiscal 2024, Bruss' total was 9.9% higher. For fiscal 2025, the company reported a chief executive pay ratio of 10.9:1, against median employee compensation of $71,809. For fiscal 2025, the say-on-pay proposal drew 95.3% support at the meeting held May 19, 2026. The disclosed peer group includes Civista Bancshares, Inc., Farmers & Merchants Bancorp, Inc., FS Bancorp, Inc., Greene County Bancorp, Inc. and Hingham Institution for Savings, among others.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — William Bruss: $714,583 → $785,156 (9.9% higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Waterstone Financial's chief executive and what were they paid?
William Bruss, President and Chief Executive Officer of Waterstone Financial and WaterStone Bank, received $785,156 in total compensation for fiscal 2025. Compared with the $714,583 reported for fiscal 2024, Bruss' total was 9.9% higher.
What was Waterstone Financial's say-on-pay result?
For fiscal 2025, the say-on-pay proposal drew 95.3% support at the meeting held May 19, 2026.
Which companies are in Waterstone Financial's peer group?
The disclosed peer group includes Civista Bancshares, Inc., Farmers & Merchants Bancorp, Inc., FS Bancorp, Inc., Greene County Bancorp, Inc. and Hingham Institution for Savings, among others.
What is Waterstone Financial's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 10.9:1, against median employee compensation of $71,809.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Douglas Gordon Former Chief Executive Officer Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
William Bruss President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey McGuiness Chief Executive Officer and President of Waterstone Mortgage Corporation | ◇ | — | — | — | — | — | ◇ | ◇ |
Mark Gerke Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Julie Glynn Chief Retail Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ryan Gordon Chief Credit Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
William Bruss President and Chief Executive Officer of Waterstone Financial and WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey McGuiness Chief Executive Officer and President of Waterstone Mortgage Corporation | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mark Gerke Chief Financial Officer of Waterstone Financial and WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Julie Glynn Chief Retail Officer of WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ryan Gordon Chief Credit Officer of WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
William Bruss President and Chief Executive Officer of Waterstone Financial and WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mark Gerke Chief Financial Officer of Waterstone Financial and WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Julie Glynn Chief Retail Officer of WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey McGuiness Chief Executive Officer and President of Waterstone Mortgage Corporation | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Ryan Gordon Chief Credit Officer of WaterStone Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Julie A. Glynn | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
| Mark R. Gerke | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
| Ryan J. Gordon | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
| William F. Bruss | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Ryan Gordon | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| William Bruss | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Julie Glynn | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Douglas Gordon | RSU | ◇ | ◇ | — | — |
| Mark Gerke | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Jeffrey McGuiness | Option | ◇ | — | ◇ | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Douglas S. Gordon | ◇ | — | — | — | — | — | ◇ |
Laura Piotrowski | ◇ | ◇ | — | — | — | — | ◇ |
Molly Mulroy | ◇ | ◇ | — | — | — | — | ◇ |
Patrick S. Lawton Board chair | ◇ | — | — | — | — | — | ◇ |
Michael L. Hansen | ◇ | — | — | — | — | — | ◇ |
Ellen S. Bartel | ◇ | — | — | — | — | — | ◇ |
Stephen J. Schmidt | ◇ | — | — | — | — | — | ◇ |
Derek Tyus | ◇ | — | — | — | — | — | ◇ |
Kristine A. Rappe | ◇ | — | — | — | — | — | ◇ |
William F. Bruss served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Civista Bancshares, Inc. CIVB
- Farmers & Merchants Bancorp, Inc. FMAO
- FS Bancorp, Inc. FSBW
- Greene County Bancorp, Inc. GCBC
- Hingham Institution for Savings HIFS
- Independent Bank Corporation INDB
- Metropolitan Bank Holding Corporation MCB
- MVB Financial Corp. MVBF
- Northfield Bancorp, Inc. NFBK
- RBB Bancorp RBB
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 19, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 20, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 21, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 16, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 17, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 18, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 19, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 21, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 15, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 16, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 17, 2016 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
What this page does not include
Everything above is a fact Waterstone Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Waterstone Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
182 figures on this page: 171 cited to the filing that reported them, 11 calculated from figures it prints.
171 cited to the filing
11 calculated from the filing
Documents cited
- 0001437749-26-017794
- 0001437749-26-011833Director Compensation · OUTSTANDING EQUITY AWARDS AT DECEMBER 31, 2025 · SUMMARY COMPENSATION TABLE · Summary Compensation Table
- 0001437749-25-017840
- 0001437749-25-011612SUMMARY COMPENSATION TABLE · Summary Compensation Table
- 0001437749-24-017837
- 0001437749-24-011716SUMMARY COMPENSATION TABLE
- 0001437749-23-015102
- 0001437749-22-013054
- 0001569994-21-000024
- 0001569994-20-000028
- 0001569994-19-000030
- 0001569994-18-000024
- 0001569994-17-000023
- 0001569994-16-000095
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Waterstone Financial executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/WSBF (accessed 2026).
Short form: data: Velarion
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Peers Waterstone Financial discloses
The companies named in WSBF's own disclosed peer group.
Terms on this page
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}