Waterstone Financial, Inc. announced that Douglas S. Gordon has notified Waterstone of his intention to retire as Chief Executive Officer (?CEO?) of Waterstone Financial, Inc. (the ?Company?) and its wholly owned subsidiary, WaterStone Bank (the ?Bank?), effective December 31, 2023. Mr. Gordon will continue to serve on the Board of Directors of the Company and the Bank. Mr. Gordon will also continue to serve on the Board of Directors of Waterstone Mortgage, a wholly owned subsidiary of the Bank.

The Company also announced that the Boards of Directors of the Company and the Bank elected William F. Bruss, to serve as the next CEO of the Company and the Bank effective January 1, 2024. Bruss currently serves as the President of the Company and the Bank. Bruss, who has been an employee of the Bank since 1997 and an executive officer of the Company since 2005, will continue to serve in the position of President of the Company and the Bank through December 31, 2023.

Mr. Bruss has served in a variety of executive positions with the Company and the Bank over his tenure with the organization. Since January 2022, he has served as President of the Company and the Bank. Prior to serving as President, Mr. Bruss served as Executive Vice President of the Company and the Bank since 2015, Chief Operating Officer from 2013 through 2022 and General Counsel and Secretary since 2005.

Bruss holds a Bachelor of Arts from St. Olaf College, and a Juris Doctor from Marquette University.