Waterstone Financial operates as a bank holding company for WaterStone Bank SSB that provides various financial services to customers in southeastern Wisconsin. The company operates through two segments, Community Banking and Mortgage Banking. It accepts various deposit instruments, including checking accounts, savings accounts, money market deposit accounts, and fixed-term certificates of deposit. The company also offers various loan products comprising one- to four-family residential mortgage loans, multi-family real estate loans, home equity loans and home equity lines of credit, residential construction and land loans, commercial real estate loans, commercial loans, and consumer loans.