Waterstone Financial, Inc..
WSBF.US | Other monetary intermediation
Waterstone Financial, Inc. is the holding company for WaterStone Bank SSB. The bank provides a range of community banking services, including checking and savings accounts, loans (mortgage, commercial, and consumer), and investment products. It primarily serves individuals, families, and businesses ...Show More
Better Health for All
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The company's core banking products and services have no significant direct positive or negative health impact, and no revenue is derived from products with direct health impacts. The company does not offer health-related products or services that would require considerations for safety, price accessibility, vulnerable reach, risk transparency, or health innovation investment. Its operations also do not generate significant health externalities, nor does it engage in health education, addiction mitigation, or clinical trials. The company offers employee benefits including a wellness program and on-site workout facilities.
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It also provides mental health resources and employee assistance programs (EAP) for its employees, along with flexible work schedules.
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A mortgage program is available for medical professionals, offering specific financial benefits such as loan amounts up to $2.5 million, no mortgage insurance, and exclusion of student loan debt from debt-to-income calculations.
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Fair Money & Economic Opportunity
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Waterstone Mortgage, a subsidiary of Waterstone Financial, Inc., settled fair lending complaints related to maternity leave, as reported in May 2013.
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The article indicates a compliance issue that resulted in a settlement, but does not specify the exact fine amount or the number of findings for Waterstone Mortgage itself.
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Fair Pay & Worker Respect
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Waterstone Financial, Inc. reported a CEO to median employee pay ratio of 11:1 in 2024.
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Waterstone Mortgage Corporation, a subsidiary, was involved in a case regarding alleged Fair Labor Standards Act (FLSA) violations for minimum wage and overtime pay, filed in 2011.
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In July 2017, an arbitration award of $10,586,770 was granted to 175 Loan Originators (LOs), including $7,267,919 for unpaid minimum wages.
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The company was also held in contempt for sending misleading and coercive letters to LOs regarding their claims.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Waterstone Financial, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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The company has a policy for anonymous reporting to its Audit Committee.
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However, no details on the policy's strength or enforcement are provided, indicating a lack of evidence for independent investigation processes.
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Kind to Animals
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No evidence available to assess Waterstone Financial, Inc. on Kind to Animals.
No War, No Weapons
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Waterstone Financial, Inc. (WSBF.US) operates as a holding company for WaterStone Bank SSB, focusing on traditional banking services such as deposit taking and lending within its local market. The company's core business does not involve defense or arms-related activities. While WaterStone Bank partners with the Association of Military Banks of America (AMBA) and participates in the Veterans Benefits Banking Program (VBBP) to support military personnel, this relates to providing banking services, not deriving revenue from arms or defense contracts.
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Planet-Friendly Business
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No specific, quantitative data is available across the provided articles to assess Waterstone Financial, Inc. against any of the Planet-Friendly Business KPIs.
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The articles, including the 2024 Form 10-K summary and 2023 annual report, do not contain information on environmental, social, or governance (ESG) initiatives, carbon emissions, reduction targets, renewable energy use, water consumption, waste diversion, green building certifications, or climate-related disclosures.
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One article explicitly states 'No data available' for all relevant metrics.
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Respect for Cultures & Communities
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No evidence available to assess Waterstone Financial, Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
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Waterstone Financial, Inc. reported no material data breaches or incidents of unauthorized data use in 2024.
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The company identifies vulnerabilities through automated scanning, penetration testing, and procedural reviews, which are then tracked and reported to management.
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Vulnerability assessments and penetration tests are performed.
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Regulatory compliance, including capital adequacy requirements, is extensively covered in their 2024 10-K, with no significant compliance issues mentioned.
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Zero Waste & Sustainable Products
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No evidence available to assess Waterstone Financial, Inc. on Zero Waste & Sustainable Products.