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Waterstone Financial Executive Compensation (FY25)

WSBF · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
William Bruss
Latest say-on-pay support
=
May 19, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): May 19, 2026
14 filings cited on this page
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218 figures on this page: 207 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
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 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Gordon
Senior Vice President and Chief Credit Officer of WaterStone Bank
◇—◇—◇—◇◇
William Bruss
Chief Operating Officer and General Counsel of Waterstone Financial and WaterStone Bank
◇—◇—◇—◇— not reconciled
Mark Gerke
Chief Financial Officer of Waterstone Financial and WaterStone Bank
◇—◇—◇—◇— not reconciled
Jeffrey McGuiness
President of Waterstone Mortgage Corporation
◇—————◇◇
Ryan Gordon
Senior Vice President and Chief Credit Officer of WaterStone Bank
◇—◇—◇—◇— not reconciled
Julie Glynn
Senior Vice President and Director of Retail of WaterStone Bank
◇—◇—◇—◇— not reconciled
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Gordon
Former Chief Executive Officer
Departed during or after this year
◇◇◇—◇—◇— not reconciled
William Bruss
President and Chief Executive Officer
◇◇◇—◇—◇— not reconciled
Jeffrey McGuiness
Chief Executive Officer and President of Waterstone Mortgage Corporation
◇—◇———◇— not reconciled
Mark Gerke
Chief Financial Officer
◇◇◇—◇—◇— not reconciled
Julie Glynn
Chief Retail Officer
◇◇◇—◇—◇— not reconciled
Ryan Gordon
Chief Credit Officer
◇◇◇—◇—◇— not reconciled
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Bruss
Chief Executive Officer
◇—◇—◇—◇◇
Jeffrey McGuiness
Chief Executive Officer
◇—◇—◇—◇◇
Mark Gerke
Chief Financial Officer
◇—◇—◇—◇◇
Julie Glynn
Chief Retail Officer
◇—◇—◇—◇◇
Ryan Gordon
Chairman
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Julie A. GlynnPSU◇◇◇—◇—◇
Mark R. GerkePSU◇◇◇—◇—◇
Ryan J. GordonPSU◇◇◇—◇—◇
William F. BrussPSU◇◇◇—◇—◇
Fiscal 2022, 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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Julie GlynnRSU◇◇——
RSU◇◇——
Ryan GordonRSU◇◇——
RSU◇◇——
William BrussRSU◇◇——
RSU◇◇——
Douglas GordonRSU◇◇——
Mark GerkeRSU◇◇——
RSU◇◇——
Jeffrey McGuinessOption◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Jeffrey McGuiness
Chief Executive Officer and President of Waterstone Mortgage Corporation · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Change-in-control base◇
Mark Gerke
Chief Financial Officer of Waterstone Financial and WaterStone Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
Equity acceleration on change in control◇
Ryan Gordon
Chief Credit Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Equity acceleration on change in control◇
William Bruss
President and Chief Executive Officer of Waterstone Financial and WaterStone Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
Equity acceleration on change in control◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas S. Gordon
◇—————◇
Molly Mulroy
◇◇————◇
Laura Piotrowski
◇◇————◇
Patrick S. Lawton
Board chair
◇—————◇
Michael L. Hansen
◇—————◇
Derek Tyus
◇—————◇
Ellen S. Bartel
◇—————◇
Stephen J. Schmidt
◇—————◇
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.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 20, 2025=◇◇◇
2023May 21, 2024=◇◇◇
2022May 16, 2023=◇◇◇
2021May 17, 2022=◇◇◇
2020May 18, 2021=◇◇◇
2019May 19, 2020=◇◇◇
2018May 21, 2019=◇◇◇
2017May 15, 2018=◇◇◇
2016May 16, 2017=◇◇◇
2015May 17, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- William Bruss (President and Chief Executive Officer of Waterstone Financial and WaterStone Bank), FY2025 total compensation $785,156 (base salary $439,035) [exec_comp, SEC accession 0001437749-26-011833, filed 2026-04-09]

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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.
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Board and governance analysis
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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.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
218 figures on this page: 207 cited to the filing that reported them, 11 calculated from figures it prints.
207 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001437749-26-017794
    Proposal 3: "An advisory, non-binding resolution to approve the executive compensation." For Against Abstain
  2. 0001437749-26-011833
    Director Compensation · OUTSTANDING EQUITY AWARDS AT DECEMBER 31, 2025 · SUMMARY COMPENSATION TABLE
  3. 0001437749-25-017840
    Proposal 3: "An advisory, non-binding resolution to approve the executive compensation." The following votes were cast: For Against Abstain
  4. 0001437749-25-011612
    Compensation Discussion and Analysis
  5. 0001437749-24-017837
  6. 0001437749-24-011716
  7. 0001437749-23-015102
  8. 0001437749-22-013054
  9. 0001569994-21-000024
  10. 0001569994-20-000028
  11. 0001569994-19-000030
  12. 0001569994-18-000024
  13. 0001569994-17-000023
  14. 0001569994-16-000095
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Velarion, “Waterstone Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/WSBF (accessed 2026).
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14 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Waterstone Financial discloses

The companies named in WSBF's own disclosed peer group.

Civista Bancshares, Inc.Farmers & Merchants Bancorp, Inc.FS Bancorp, Inc.Greene County Bancorp, Inc.Hingham Institution for SavingsIndependent Bank CorporationMetropolitan Bank Holding CorporationMVB Financial Corp.Northfield Bancorp, Inc.RBB Bancorp

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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}
}
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