# WATERSTONE BANK SSB
WAUWATOSA, WI · FDIC certificate 28513 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *funding-stretched*. Composite score 2 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $2.25B | |
| Deposits | $1.47B | |
| Loans and leases | $1.84B | |
| Total equity | $331.5M | |
| Loans / deposits | 123.66% (p98 of band) | 87.10% |
| Liquid assets / assets | 12.23% (p11 of band) | |
| Uninsured deposits / deposits | 26.84% (p37 of band) | 30.76% |
| Brokered deposits | 3.21% | |
| Wholesale funding | 21.49% (p90 of band) | |
| FHLB advances / assets | 17.99% | |
| Tier 1 leverage | 15.43% (p93 of band) | 10.50% |
| Unrealized securities loss / equity | -5.27% (p62 of band) | -7.75% |
| AOCI / equity | -0.34% (p47 of band) | |
| ROA (annualized) | 1.28% (p52 of band) | 1.26% |
| Net interest margin | 3.06% (p17 of band) | 3.70% |
| Efficiency ratio | 75.19% (p88 of band) | |
| Noncurrent loans | 0.36% (p37 of band) | 0.51% |
| Net charge-offs (annualized) | 0.00% (p10 of band) | |
| Reserve coverage of noncurrent | 273.62% | |
| Real estate % of loans | 98% | |
| Construction % of loans | 20.50% (p18 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p35 of band) | |
| Deposits YoY | 3.0% | |
| Employees | 607 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 4 | loans exceed deposits, wholesale funding >15%, losing money, reserve under noncurrent |  |
| 2011-06 | 4 |  |  |
| 2011-09 | 4 |  |  |
| 2011-12 | 4 |  |  |
| 2012-03 | 5 | deposits shrinking, uninsured deposits leaving | losing money |
| 2012-06 | 4 |  | uninsured deposits leaving |
| 2012-09 | 4 |  |  |
| 2012-12 | 5 | noncurrent p90 |  |
| 2013-03 | 6 | charge-offs p90 |  |
| 2013-06 | 5 |  | noncurrent p90 |
| 2013-09 | 7 | noncurrent p90, assets shrinking |  |
| 2013-12 | 4 |  | loans exceed deposits, deposits shrinking, assets shrinking |
| 2014-03 | 6 | loans exceed deposits, expense ratio p90, NIM <2.5% | charge-offs p90 |
| 2014-06 | 8 | charge-offs p90, uninsured deposits leaving |  |
| 2014-09 | 6 |  | expense ratio p90, uninsured deposits leaving |
| 2014-12 | 10 | expense ratio p90, deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2015-03 | 7 |  | deposits shrinking, assets shrinking, uninsured deposits leaving |
| 2015-06 | 6 | deposits shrinking | charge-offs p90, expense ratio p90 |
| 2015-09 | 6 | charge-offs p90 | noncurrent p90 |
| 2015-12 | 5 |  | deposits shrinking |
| 2016-03 | 3 | expense ratio p90 | reserve under noncurrent, NIM <2.5%, charge-offs p90 |
| 2016-06 | 2 |  | expense ratio p90 |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 |  |  |
| 2017-03 | 2 |  |  |
| 2017-06 | 2 |  |  |
| 2017-09 | 3 | capital falling |  |
| 2017-12 | 2 |  | capital falling |
| 2018-03 | 3 | expense ratio p90 |  |
| 2018-06 | 3 | capital falling | expense ratio p90 |
| 2018-09 | 4 | expense ratio p90 |  |
| 2018-12 | 3 |  | capital falling |
| 2019-03 | 3 |  |  |
| 2019-06 | 2 |  | expense ratio p90 |
| 2019-09 | 2 |  |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 2 |  |  |
| 2020-06 | 2 |  |  |
| 2020-09 | 3 | capital falling |  |
| 2020-12 | 3 |  |  |
| 2021-03 | 2 |  | capital falling |
| 2021-06 | 2 |  |  |
| 2021-09 | 2 |  |  |
| 2021-12 | 2 |  |  |
| 2022-03 | 4 | expense ratio p90, assets shrinking |  |
| 2022-06 | 3 |  | wholesale funding >15% |
| 2022-09 | 4 | wholesale funding >15% |  |
| 2022-12 | 4 |  |  |
| 2023-03 | 4 | capital falling | assets shrinking |
| 2023-06 | 4 |  |  |
| 2023-09 | 4 |  |  |
| 2023-12 | 3 |  | capital falling |
| 2024-03 | 4 | NIM <2.5% |  |
| 2024-06 | 4 | capital falling | expense ratio p90 |
| 2024-09 | 3 |  | capital falling |
| 2024-12 | 3 |  |  |
| 2025-03 | 3 | expense ratio p90 | NIM <2.5% |
| 2025-06 | 2 |  | expense ratio p90 |
| 2025-09 | 2 |  |  |
| 2025-12 | 2 |  |  |
| 2026-03 | 2 |  |  |
| 2026-06 | 2 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-09-03 [WSBF Surges 43% in a Year: Reason to Buy the Stock Now? - Eastern Progress](https://news.google.com/rss/articles/CBMizwFBVV95cUxQUVFkRlBBMlo0S09lVlA5NjYwYS1TV3pGVGVSa3JyR3lxQmE1bzlVRVM3SG9hcklsdXlIUGZfRVRmNVhHNlFPeFJWQmxIYlNWaFVOaU5lU2tNX3lwMjRtODFqTG9YS0dEQUVRTWdpY1A0NTdmODNlcWJpX1VQamc4cEFkaExERzhCTU9EYjdValB0MEF1OERPNjFQNm4tZGQ1QVhYclNzb2l2Z1Y3UnNnd0tSV0J3ZUUzM29DQ1pjWDNNcVBuOV90VzJ4dzVkZGc?oc=5) · Eastern Progress
- 2018-07-30 [Waterstone Mortgage founder and CEO resigns - BizTimes - Milwaukee Business News](https://news.google.com/rss/articles/CBMic0FVX3lxTE1sQ1UycjM2UE9YWk10UTNpZ0FmRmlTT2RQcGIzZ2RDSDFyb3VnTTNHU2JHbnUwXzU2T3VnUWxrNlpUbm5hZERheGdVLWE5R2RldnBGREhUOGJZeDg5OVFMaVVWcVNHWXJGSmstSlk3SmdEMVU?oc=5) · BizTimes - Milwaukee Business News
- 2022-11-17 [Waterstone Mortgage hires new digital marketing director - HousingWire](https://news.google.com/rss/articles/CBMimgFBVV95cUxQQkpxN3Nob1VhOFpnbGdJV3FsVEt3bG8xZ1dORXZkeUxhcHBvd3JJckllbENnVDlUSWNlamh0QnVGdnJJS0U1Z3VoR0tFRzJIQTVrQ01mVThlX3BnSmdFSjdVc1hueTdyRW9aNGNUV3FBTXdreksxaWY0bzVRNERnb2ZwdUhwdnRvUE9DTEYzOXpTNHFibG1OcGd3?oc=5) · HousingWire
- 2019-03-26 [Waterstone Mortgage CEO terminated - BizTimes - Milwaukee Business News](https://news.google.com/rss/articles/CBMiZ0FVX3lxTE9yOVZrcEYzOTdiTWZ2YXN4ZkhtQUwxWExPVTNZM192cUxxTUF4OWtUcFd5YzFQMHE3Vm8yWmlNSGpHalZNTjBPZzV6anBhZmVkYl9Kdk1LamV6SXA3bkd6U2dQeU1jZW8?oc=5) · BizTimes - Milwaukee Business News
- 2020-04-02 [Ixonia Bank acquires Novus Home Mortgage - BizTimes - Milwaukee Business News](https://news.google.com/rss/articles/CBMib0FVX3lxTFBjN0szS25XbVVuVmR2emlTSWlzMU90WUFQQmhXa0hLWEdieU1vTGo2eVo3ZEloUDZNMDRCTkhmMUlWUjMtMHpuMFo0TTAyVnZPOVIwMHNWa2FReVp1VWpNTDhGWW8yclVRQlowZWFOaw?oc=5) · BizTimes - Milwaukee Business News

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=28513 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/33.json (key "28513", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide