Waterstone Financial Inc was organized in June 2013. The Company is a one-bank holding company with two operating segments community banking and mortgage banking. Community banking, which is conducted through WaterStone Bank, consists of lending and deposit taking (as well as other banking-related products and services) to consumers and businesses and the support to deliver, fund, and manage such banking services. Mortgage banking, which is conducted through Waterstone Mortgage Corporation, consists of originating residential mortgage loans for sale in the secondary market. Its competition for loans and deposits comes principally from commercial banks, savings institutions, mortgage banking firms and credit unions. It faces additional competition for deposits from money market funds, brokerage firms, and mutual funds. Some of its competitors offer products and services that it does not offer, such as trust services, private banking and brokerage and insurance services. The Company is subject to the rules and regulations of the Securities and Exchange Commission under the federal securities laws.