On January 28, 2014, the Board of Directors of Waterstone Financial, Inc. elected Ellen S. Bartel and Kristine A. Rapp to serve on the Board of Directors of the company. Each of Ms. Bartel and Ms. Rapp is already a director of the Company's subsidiary bank, WaterStone Bank SSB. Ms. Bartel has been added to the Company's compensation, nominating and executive committees, while Ms. Rapp has been added to the company's compensation and executive committees.

Each of Ms. Bartel and Ms. Rapp has been added to the class of directors whose terms expire at the 2016 annual meeting of stockholders.