Waterstone Financial (WSBF) 10-K 4 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Waterstone Financial, Inc.
Entity Central Index Key	1,569,994
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 405.3
Entity Common Stock, Shares Outstanding		29,216,259
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash	$ 57,419	$ 145,846
Federal funds sold	20,297	21,268
Interest-earning deposits in other financial institutions and other short term investments	22,755	5,706
Cash and cash equivalents	100,471	172,820
Securities available for sale (at fair value)	269,658	273,443
Loans held for sale (at fair value)	166,516	125,073
Loans receivable	1,114,934	1,094,990
Less: Allowance for loan losses	16,185	18,706
Loans receivable, net	1,098,749	1,076,284
Office properties and equipment, net	25,328	25,562
Federal Home Loan Bank stock (at cost)	19,500	17,500
Cash surrender value of life insurance	49,562	50,848
Real estate owned	9,190	18,706
Prepaid expenses and other assets	23,755	23,144
Total assets	1,762,729	1,783,380
Liabilities:
Demand deposits	102,673	92,162
Money market and savings deposits	140,631	119,163
Time deposits	650,057	652,635
Total deposits	893,361	863,960
Short-term borrowings	7,203	0
Long-term borrowings	441,203	434,000
Advance payments by borrowers for taxes	3,661	4,991
Other liabilities	32,574	30,192
Total liabilities	1,370,799	1,333,143
Shareholders' equity:
Preferred stock (par value $.01 per share) Authorized 20,000,000 shares, no shares issued	0	0
Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2014 and 200,000,000 in 2013, Issued - 34,420,094 in 2014 and 34,073,670 in 2013, Outstanding - 34,420,094 in 2014 and 31,349,317 in 2013	294	344
Additional paid-in capital	317,022	313,894
Retained earnings	168,089	157,304
Unearned ESOP shares	(21,365)	(22,552)
Accumulated other comprehensive income, net of taxes	582	1,247
Treasury shares (2,724,353 shares), at cost	(72,692)	0
Total shareholders' equity	391,930	450,237
Total liabilities and shareholders' equity	$ 1,762,729	$ 1,783,380

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Securities held to maturity	$ 0	$ 0
Shareholders' equity:
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	29,407,455	34,420,094
Common stock - shares outstanding (in shares)	29,407,455	34,420,094
Treasury shares (in shares)	5,624,415	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Loans	$ 55,175	$ 57,316	$ 58,470
Mortgage-related securities	3,229	2,996	1,849
Debt securities, federal funds sold and short-term investments	3,559	3,322	2,545
Total interest income	61,963	63,634	62,864
Interest expense:
Deposits	5,879	4,926	5,215
Borrowings	17,240	17,401	18,443
Total interest expense	23,119	22,327	23,658
Net interest income	38,844	41,307	39,206
Provision for loan losses	1,965	1,150	4,532
Net interest income after provision for loan losses	36,879	40,157	34,674
Noninterest income:
Service charges on loans and deposits	1,648	1,486	1,337
Increase in cash surrender value of life insurance	1,417	1,290	1,076
Total other than temporary investment losses	0	44	0
Portion of (gain) loss recognized in other comprehensive income (before tax)	0	(61)	0
Net impairment losses recognized in earnings	0	(17)	0
Mortgage banking income	99,318	77,982	80,260
Gain on sale of available for sale securities	44	0	(9)
Other	2,047	3,827	5,135
Total noninterest income	104,474	84,568	87,799
Noninterest expenses:
Compensation, payroll taxes, and other employee benefits	81,753	69,172	68,807
Occupancy, office furniture and equipment	9,287	10,369	8,165
Advertising	2,947	2,949	3,085
Data processing	2,354	2,245	2,032
Communications	1,416	1,690	1,557
Professional fees	2,354	2,393	2,386
Real estate owned	2,664	2,482	255
FDIC insurance premiums	1,058	1,395	1,986
Other	11,701	12,123	10,871
Total noninterest expenses	115,534	104,818	99,144
Income (loss) before income tax	25,819	19,907	23,329
Income tax expense (benefit)	9,249	7,175	8,621
Net income (loss)	$ 16,570	$ 12,732	$ 14,708
Loss per share:
Basic (in dollars per share)	$ 0.57	$ 0.38	$ 0.43
Diluted (in dollars per share)	$ 0.56	$ 0.38	$ 0.43
Weighted average shares outstanding:
Basic (in shares)	29,161	33,406	34,185
Diluted (in shares)	29,431	33,643	34,439

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 16,570	$ 12,732	$ 14,708
Other comprehensive income (loss), net of tax
Net unrealized holding gain (loss) on available for sale securities arising during the period, net of tax (expense) benefit of ($791), ($1,240) and ($2,102), respectively	(638)	2,666	(3,719)
Reclassification adjustment for net gain (loss) on available for sale securities realized during the period, net of tax expense (benefit) of $124, ($22) and $22, respectively	(27)	10	5
Total other comprehensive income (loss)	(665)	2,676	(3,714)
Comprehensive income (loss)	$ 15,905	$ 15,408	$ 10,994

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other comprehensive income (loss), net of tax
Net unrealized holding gain (loss) on available for sale securities arising during the period, net of tax (expense) benefit	$ 412	$ (1,722)	$ 2,436
Reclassification adjustment for net gains on available for sale securities realized during the period, net of taxes	$ 17	$ (7)	$ (4)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Exchange of common stock - Member [Member]	Merger of Lamplighter MHC (Common Stock)- Member [Member]	Purchase of ESOP Share - Common Stock [Member]	Cash dividend - Common Stock [Member]	Stock Based Compensation Expense - Common Stock [Member]	Treasury stock retired - Member [Member]	Stock Compensation Activity [Member]	Proceeds of stock offering net of costs-member [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Unearned ESOP Shares [Member]	Accumulated Other Comprehensive (Loss) [Member]	Treasury Shares [Member]	Total
Balances at Dec. 31, 2012	$ 341									$ 110,490	$ 136,487	$ (1,708)	$ 2,285	$ (45,261)	$ 202,634
Balances (in shares) at Dec. 31, 2012	31,348
Comprehensive income (loss):
Net income (loss)	$ 0									0	14,708	0	0	0	14,708
Other comprehensive income:	0									0	0	0	(3,714)	0	(3,714)
Total comprehensive income (loss)															10,994
ESOP shares committed to be released to Plan participants	0									(136)	0	854	0	0	718
Stock based compensation	$ 0									126	0	0	0	0	126
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)	1
Balances at Dec. 31, 2013	$ 341									110,480	151,195	(854)	(1,429)	(45,261)	214,472
Balances (in shares) at Dec. 31, 2013	31,349
Comprehensive income (loss):
Net income (loss)	$ 0									0	12,732	0	0	0	12,732
Other comprehensive income:	0									0	0	0	2,676	0	2,676
Total comprehensive income (loss)															15,408
wsbf_ Purchase Of Esop Shares	0									0	0	(22,884)	0	0	(22,884)
ESOP shares committed to be released to Plan participants	0									31	0	1,186	0	0	1,217
Dividends, Common Stock, Cash	0									0	(6,623)	0	0	0	(6,623)
Stock compensation activity, net of tax	0									116	0	0	0	0	116
Stock based compensation	0									109	0	0	0	0	109
Merger of Lamplighter MHC	(231)									305	0	0	0	0	74
Exchange of common stock	(83)									83	0	0	0	0	0
Treasury stock retired	(27)									(45,234)	0	0	0	45,261	0
Proceeds of stock offering	$ 344									248,004	0	0	0	0	248,348
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)	0	(8,299)	(23,050)	0	0	0	0	14	34,406
Balances at Dec. 31, 2014	$ 344									313,894	157,304	(22,552)	1,247	0	$ 450,237
Balances (in shares) at Dec. 31, 2014	34,420														34,420,094
Comprehensive income (loss):
Net income (loss)	$ 0									0	16,570	0	0	0	$ 16,570
Other comprehensive income:	0									0	0	0	(665)	0	(665)
Total comprehensive income (loss)															15,905
ESOP shares committed to be released to Plan participants	0									198	0	1,187	0	0	1,385
Dividends, Common Stock, Cash	0									0	(5,785)	0	0	0	(5,785)
Stock compensation activity, net of tax	6									113	0	0	0	0	119
Stock based compensation	0									2,817	0	0	0	0	2,817
Merger of Lamplighter MHC	(56)									0	0	0	0	(72,692)	(72,748)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)			(5,624)		0	0		611
Balances at Dec. 31, 2015	$ 294									$ 317,022	$ 168,089	$ (21,365)	$ 582	$ (72,692)	$ 391,930
Balances (in shares) at Dec. 31, 2015	29,407														29,407,455

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income (loss)	$ 16,570	$ 12,732	$ 14,708
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for loan losses	1,965	1,150	4,532
Provision for depreciation	3,106	3,283	2,717
Deferred income taxes	(154)	3,716	5,394
Stock based compensation	2,817	109	126
Net amortization of premium/discount on debt and mortgage related securities	1,305	1,583	2,203
Amortization of unearned ESOP shares	1,385	1,217	718
Amortization Of MSR	491	445	1,125
Gain on sale of loans held for sale	(98,382)	(82,146)	(73,548)
Loans originated for sale	(1,986,147)	(1,661,376)	(1,751,054)
Proceeds on sales of loans originated for sale	2,043,086	1,715,470	1,861,194
Decrease in accrued interest receivable	(79)	(225)	(352)
Increase in cash surrender value of life insurance	(1,417)	(1,290)	(1,076)
Decrease in accrued interest on deposits and borrowings	42	5	(120)
Increase in other liabilities	2,425	(1,581)	(6,007)
Increase (decrease) in accrued tax payable	1,467	(453)	(3,119)
Gain on sale of available for sale securities	(44)	0	9
Impairment of securities	0	17	0
Net realized and unrealized loss related to real estate owned	968	659	(1,415)
Gain Sale Of MSR	(901)	(2,456)	(2,578)
Other	(1,494)	6,925	(1,173)
Net cash (used in) provided by operating activities	(12,991)	(2,216)	52,284
Investing activities:
Net decrease in loans receivable	(40,011)	(25,668)	16,133
Purchases of:
Debt securities	(16,119)	(22,009)	(44,540)
Mortgage related securities	(33,750)	(80,837)	(16,264)
Certificates Of Deposits Cash Flow	0	(735)	0
Premises and equipment, net	(2,966)	(1,949)	(5,360)
Bank owned life insurance	(180)	(10,180)	(240)
Purchase of FHLB Stock	(2,000)	0	0
Proceeds from:
Principal repayments on mortgage-related securities	40,755	28,515	36,952
Maturities of debt securities	9,510	17,864	6,170
Sales of debt securities	1,034	0	921
Death Benefit from BOLI	2,883	0	0
Sales of foreclosed properties and other assets	24,716	19,751	27,604
Redemption of FHLB stock	0	0	2,693
Net cash used in investing activities	(16,128)	(75,248)	24,069
Financing activities:
Net decrease in deposits	29,401	9,523	305,228
Net increase (decrease) in short-term borrowings	7,203	(21,197)	(24,691)
Net increase (decrease) in advance payments by borrowers for taxes	(1,330)	2,509	810
Financing for cash dividends on common stock	(5,869)	(5,003)	0
Financing for purchase of ESOP	0	(22,884)	0
Proceeds from stock option exercises	113	49	0
Stock offering proceeds returned to subscribers	0	(141,882)	0
Purchase of common stock returned to authorized but unissued	(72,748)	0	0
Net cash used by financing activities	(43,230)	(178,885)	281,347
(Decrease) Increase in cash and cash equivalents	(72,349)	(256,349)	357,700
Cash and cash equivalents at beginning of year	172,820	429,169	71,469
Cash and cash equivalents at end of year	100,471	172,820	429,169
Cash paid, credited or (received) during the period for:
Income tax payments (refunds)	7,933	3,847	6,265
Interest payments	23,077	22,322	23,778
Noncash investing activities:
Loans receivable transferred to other real estate	15,580	16,645	13,552
Deposits utilized to purchase common stock	0	248,422	0
Dividends declared but not paid in other liabilities	$ 1,537	$ 1,620	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1) Summary of Significant Accounting Policies The following significant accounting and reporting policies of Waterstone Financial, Inc. and subsidiaries (collectively, the "Company"), conform to U.S. generally accepted accounting principles, or ("GAAP"), and are used in preparing and presenting these consolidated financial statements. (a) Plan of Conversion and Reorganization On June 6, 2013, the Board of Directors of Lamplighter Financial, MHC ("MHC") and the Board of Directors of Waterstone Financial, Inc., a federal corporation, ("Waterstone-Federal") adopted a Plan of Conversion and Reorganization (the "Plan"). Pursuant to the Plan, Waterstone Financial, Inc., a Maryland corporation, ("New Waterstone") was organized and the MHC converted from the mutual holding company form of organization to the fully public form on January 22, 2014. As part of the conversion, the MHC's ownership interest of Waterstone-Federal was offered for sale in a public offering. A total of 25,300,000 shares were sold in the offering at a price $10.00 per share, resulting in gross proceeds of $253.0 million. Expenses related to the offering totaled approximately $4.7 million. The existing publicly held shares of Waterstone-Federal were exchanged for new shares of common stock of New Waterstone at a conversion ratio of 1.0973-to-one. The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of Waterstone-Federal owned the same aggregate percentage of New Waterstone common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares). When the conversion and public offering was completed, New Waterstone became the holding company of WaterStone Bank SSB and succeeded to all of the business and operations of Waterstone-Federal and each of Waterstone-Federal and Lamplighter Financial, MHC ceased to exist. A total of 34,405,458 shares of New Waterstone common stock were outstanding after the completion of the offering and exchange. The Plan provided for the establishment of special "liquidation accounts" for the benefit of certain depositors of WaterStone Bank in an amount equal to the greater of the MHC's ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus or the retained earnings of WaterStone Bank at the time it reorganized into the MHC. Following the completion of the conversion, under the rules of the Board of Governors of the Federal Reserve System, WaterStone Bank is not permitted to pay dividends on its capital stock to Waterstone Financial, Inc., its sole shareholder, if WaterStone Bank's shareholder's equity would be reduced below the amount of the liquidation accounts. The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder's interest in the liquidation accounts. Share and per share amounts have been restated to reflect the completion of our second-step conversion on January 22, 2014 at a conversion ratio of 1.0973 unless noted otherwise. New Waterstone did not engage in any business prior to the completion of the mutual-to-stock conversion of Lamplighter Financial, MHC on January 22, 2014. Consequently, these financial statements and footnotes reflect the financial condition and operating results of Waterstone-Federal and its subsidiaries, including the Bank, until January 22, 2014, and of New Waterstone, and its subsidiaries, including the Bank, thereafter. The words "Waterstone Financial," "we" and "our" thus are intended to refer to Waterstone-Federal and its subsidiaries with respect to matters and time periods occurring on or before January 22, 2014, and to New Waterstone and its subsidiaries with respect to matters and time periods occurring thereafter. b) Nature of Operations The Company is a one-bank holding company with two operating segments – community banking and mortgage banking. The Bank is principally engaged in the business of attracting deposits from the general public and using such deposits to originate real estate, business and consumer loans. The Bank provides a full range of financial services to customers through branch locations in southeastern Wisconsin. In addition, the Bank has a loan production office in Minneapolis, Minnesota. The Bank is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The Bank owns a mortgage banking subsidiary that originates residential real estate loans held for sale at various branch offices across the country. Mortgage banking volume fluctuates widely given movements in interest rates. Mortgage banking income is reported as a single line item in the statements of operations while mortgage banking expense is distributed among the various noninterest expense lines. Compensation, payroll taxes and other employee benefits expense varies directly with mortgage banking income. c) Principles of Consolidation The consolidated financial statements include the accounts and operations of Waterstone Financial, Inc. and its wholly owned subsidiary, WaterStone Bank. The Bank has the following wholly owned subsidiaries: Wauwatosa Investments, Inc., Waterstone Mortgage Corporation, and Main Street Real Estate Holdings, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. d) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include: the allowance for loan losses, income taxes, and fair value measurements. Actual results could differ from those estimates and the current economic environment has increased the degree of uncertainty inherent in those estimates and assumptions. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 e) Cash and Cash Equivalents The Company considers federal funds sold and highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents. f) Securities Available for Sale Securities At the time of purchase, investment securities are classified as available for sale, as management has the intent and ability to hold such securities for an indefinite period of time, but not necessarily to maturity. Any decision to sell investment securities available for sale would be based on various factors, including, but not limited to asset/liability management strategies, changes in interest rates or prepayment risks, liquidity needs, or regulatory capital considerations. Available for sale securities are carried at fair value, with the unrealized gains and losses, net of deferred tax, reported as a separate component of equity, accumulated other comprehensive income. The cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities and collateralized mortgage obligations, over the estimated life of the security. Such amortization is included in interest income from securities. Realized gains or losses on securities sales (using specific identification method) are included in other income. Declines in value judged to be other than temporary are included in net impairment losses recognized in earnings in the consolidated statements of operations. Other Than Temporary Impairment One of the significant estimates related to securities is the evaluation of investments for other than temporary impairment. The Company assesses investment securities with unrealized loss positions for other than temporary impairment on at least a quarterly basis. When the fair value of an investment is less than its amortized cost at the balance sheet date of the reporting period for which impairment is assessed, the impairment is designated as either temporary or other than temporary. In evaluating other than temporary impairment, management considers the length of time and extent to which the fair value has been less than cost and the expected recovery period of the security, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of investment securities below amortized cost are deemed to be other than temporary when the Company cannot assert that it will recover its amortized cost basis, including whether the present value of cash flows expected to be collected is less than the amortized cost basis of the security. If it is more likely than not that the Company will be required to sell the security before recovery or if the Company has the intent to sell, an other than temporary impairment write down is recognized in earnings equal to the difference between the security's amortized cost and its fair value. If it is not more likely than not that the Company will be required to sell the security before recovery and if the Company does not intend to sell, the other than temporary impairment write down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to other factors, which is recognized as a separate component of equity. Following the recognition of an other than temporary impairment representing credit loss, the book value of an investment less the impairment loss realized becomes the new cost basis. Because the Company's assessments are based on factual information as well as subjective information available at the time of assessment, the determination as to whether an other than temporary impairment exists and, if so, the amount considered other than temporarily impaired, or not impaired, is subjective and, therefore, the timing and amount of other than temporary impairments constitute material estimates that are subject to significant change. Federal Home Loan Bank Stock Federal Home Loan Bank stock is carried at cost, which is the amount that the stock is redeemable by tendering to the FHLBC or the amount at which shares can be sold to other FHLBC members. g) Loans Held for Sale The origination of residential real estate loans is an integral component of the business of the Company. The Company generally sells its originations of long-term fixed interest rate mortgage loans in the secondary market, and on a selective basis, retains the rights to service the loans sold. Gains and losses on the sales of these loans are determined using the specific identification method. Mortgage loans originated for sale are generally sold within 45 days after closing. The Company has elected to carry loans held for sale at fair value. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the market. The amount by which cost differs from market value is accounted for as a valuation adjustment to the carrying value of the loans. Changes in value are included in mortgage banking income in the consolidated statements of operations. Costs to originate loans held for sale are expensed as incurred and are included on the appropriate noninterest expense lines of the statements of operations. Salaries, commissions and related payroll taxes are the primary costs to originate and comprise approximately 74.8 % of total mortgage banking noninterest expense. The value of mortgage loans held for sale and other residential mortgage loan commitments to customers are hedged by utilizing both best efforts and mandatory forward commitments to sell loans to investors in the secondary market. Such forward commitments are generally entered into at the time when applications are taken to protect the value of the mortgage loans from increases in market interest rates during the period held. The Corporation recognizes revenue associated with the expected future cash flows of servicing loans at the time a forward loan commitment is made, as required under Securities and Exchange Commission Staff Accounting Bulletin No. 109, Written Loan Commitments Recorded at Fair Value Through Earnings. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 h) Loans Receivable and Related Interest Income Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income, charge-offs and unamortized deferred fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of the related loan yield. Amortization is based on a level-yield method over the contractual life of the related loans or until the loan is paid in full. Loan interest income is recognized on the accrual basis. Accrual of interest is generally discontinued either when reasonable doubt exists as to the full, timely collection of interest or principal, or when a loan becomes contractually past due more than 90 days with respect to interest or principal. At that time, previously accrued and uncollected interest on such loans is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. A loan is accounted for as a troubled debt restructuring if the Company, for economic reasons related to the borrower's financial condition, grants a concession to the borrower that it would not otherwise consider. A troubled debt restructuring typically involves a modification of terms such as a reduction of the stated interest rate, a deferral of principal payments or a combination of both for a temporary period of time. If the borrower was performing in accordance with the original contractual terms at the time of the restructuring, the restructured loan is accounted for on an accruing basis as long as the borrower continues to comply with the modified terms. If the loan was not accounted for on an accrual basis at the time of restructuring, the restructured loan remains in non-accrual status until the loan completes a minimum of six consecutive contractual payments. i) Allowance for Loan Losses The allowance for loan losses is presented as a reserve against loans and represents the Bank's assessment of probable loan losses inherent in the loan portfolio. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Estimated loan losses are charged against the allowance when the loan balance is confirmed to be uncollectible directly or indirectly by the borrower or upon initiation of a foreclosure action by the Bank. Subsequent recoveries, if any, are credited to the allowance as long as it is within 90 days of being transferred to real estate owned. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent in the loan portfolio, but have not been specifically identified. The Bank utilizes its own loss history to estimate inherent losses on loans. Although the Bank allocates portions of the allowance to specific loans and loan types, the entire allowance is available for any loan losses that occur. The Bank evaluates the need for specific valuation allowances on loans that are considered impaired. A loan is considered impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Within the loan portfolio, all non-accrual loans and loans modified under troubled debt restructurings have been determined by the Bank to meet the definition of an impaired loan. In addition, other one- to four-family, over four-family, construction and land, commercial real estate and commercial loans may be considered impaired loans. A valuation allowance is established for an amount equal to the impairment when the carrying amount of the loan exceeds the present value of the expected future cash flows, discounted at the loan's original effective interest rate or the fair value of the underlying collateral. The Bank also establishes valuation allowances based on an evaluation of the various risk components that are inherent in the loan portfolio. The risk components that are evaluated include past loan loss experience; the level of non-performing and classified assets; current economic conditions; volume, growth, and composition of the loan portfolio; adverse situations that may affect the borrower's ability to repay; the estimated value of any underlying collateral; regulatory guidance; and other relevant factors. The appropriateness of the allowance for loan losses is approved quarterly by the Bank's board of directors. The allowance reflects management's best estimate of the amount needed to provide for the probable loss on impaired loans, as well as other credit risks of the Bank, and is based on a risk model developed and implemented by management and approved by the Bank's board of directors. Actual results could differ from this estimate, and future additions to the allowance may be necessary based on unforeseen changes in economic conditions. In addition, federal regulators periodically review the Bank's allowance for loan losses. Such regulators have the authority to require the Bank to recognize additions to the allowance at the time of their examination. j) Real Estate Owned Real estate owned consists of properties acquired through, or in lieu of, loan foreclosure. Real estate owned is transferred into the portfolio at estimated net realizable value. To the extent that the net carrying value of the loan exceeds the estimated fair value of the property at the date of transfer, the excess is charged to the allowance for loan losses within 90 days of being transferred. Subsequent write-downs to reflect current fair market value, as well as gains and losses upon disposition and revenue and expenses incurred in maintaining such properties, are treated as period costs and included in real estate owned in the consolidated statements of operations. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 k) Mortgage Servicing Rights The Company sells residential mortgage loans in the secondary market and, on a selective basis, retains the right to service the loans sold. Upon sale, a mortgage servicing rights asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. Mortgage servicing rights, when purchased, are initially recorded at fair value. Mortgage servicing rights are amortized over the period of estimated net servicing income, and assessed for impairment at each reporting date. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets, net in the consolidated balance sheets. To the extent that the Company sells mortgage servicing rights, a gain is recognized for the amount of which sale proceeds exceed the remaining unamortized cost of the servicing rights that were sold. Gains on sale of mortgage serving rights are included in other noninterest income in the consolidated statements of operations. l) Cash Surrender Value of Life Insurance The Company purchased bank owned life insurance on the lives of certain employees. The Company is the beneficiary of the life insurance policies. The cash surrender value of life insurance is reported at the amount that would be received in cash if the polices were surrendered. Increases in the cash value of the policies and proceeds of death benefits received are recorded in non-interest income. The increase in cash surrender value of life insurance is not subject to income taxes, as long as the Company has the intent and ability to hold the policies until the death benefits are received. m) Office Properties and Equipment Office properties and equipment, including leasehold improvements and software, are stated at cost, net of depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term, if shorter than the estimated useful life. Maintenance and repairs are charged to expense as incurred, while additions or major improvements are capitalized and depreciated over their estimated useful lives. Estimated useful lives of the assets are 10 to 30 years for office properties, 3 to 10 years for equipment, and 3 years for software. Rent expense related to long-term operating leases is recorded on the accrual basis. n) Income Taxes The Company and its subsidiaries file consolidated federal and combined state income tax returns. The provision for income taxes is based upon income in the consolidated financial statements, rather than amounts reported on the income tax returns. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. Under generally accepted accounting principles, a valuation allowance is required to be recognized if it is "more likely than not" that a deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management's evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Positions taken in the Company's tax returns may be subject to challenge by the taxing authorities upon examination. The benefit of uncertain tax positions are initially recognized in the financial statements only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement. o) Earnings Per Share Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Shares of the Employee Stock Ownership Plan committed to be released are considered outstanding for both common and diluted EPS. Incentive stock compensation awards granted can result in dilution. p) Comprehensive Income Comprehensive income is the total of reported net income and changes in unrealized gains or losses, net of tax, on securities available for sale. q) Employee Stock Ownership Plan (ESOP) Compensation expense under the ESOP is equal to the fair value of common shares released or committed to be released to participants in the ESOP in each respective period. Common stock purchased by the ESOP and not committed to be released to participants is included in the consolidated statements of financial condition at cost as a reduction of shareholders' equity. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 r) Impact of Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The ASU is a converged standard between the FASB and the IASB that provides a single comprehensive revenue recognition model for all contracts with customers across transactions and industries. The primary objective of the ASU is revenue recognition that represents the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU is effective for interim and annual reporting periods beginning after December 15, 2017. The Company is in the process of evaluating the impact of this standard to its results of operations, financial position, and liquidity. In June 2014, the FASB also issued ASU No. 2014-12, "Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period." This ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in estimating the grant-date fair value of the award. This ASU is effective for interim and annual reporting periods beginning after December 15, 2015 with earlier adoption permitted. The adoption of this standard is not expected to have a material impact to the Company's consolidated financial position or results of operations. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This Update applies to all entities that hold financial assets or owe financial liabilities and is intended to provide more useful information on the recognition, measurement, presentation, and disclosure of financial instruments. Among other things, this Update (a) requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (b) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; (c) eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities; (d) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (e) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (f) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (g) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; and (h) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities including not-for-profit entities and employee benefit plans within the scope of Topics 960 through 965 on plan accounting, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. All entities that are not public business entities may adopt the amendments in this Update earlier as of the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company's financial position or results of operations.

Securities

Securities	12 Months Ended
	Dec. 31, 2015
Securities [Abstract]
Securities	2) Securities Securities Available for Sale The amortized cost and fair value of the Company's investment in securities follow: December 31, 2015 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 95,911 1,004 (248 ) 96,667 Collateralized mortgage obligations Government sponsored enterprise issued 70,605 123 (300 ) 70,428 Mortgage related securities 166,516 1,127 (548 ) 167,095 Government sponsored enterprise bonds 3,750 – (4 ) 3,746 Municipal securities 77,509 1,730 (80 ) 79,159 Other debt securities 17,401 209 (647 ) 16,963 Debt securities 98,660 1,939 (731 ) 99,868 Certificates of deposit 2,695 4 (4 ) 2,695 $ 267,871 3,070 (1,283 ) 269,658 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 115,670 1,582 (124 ) 117,128 Collateralized mortgage obligations Government sponsored enterprise issued 58,821 320 (70 ) 59,071 Mortgage related securities 174,491 1,902 (194 ) 176,199 Government sponsored enterprise bonds 6,750 2 (41 ) 6,711 Municipal securities 76,037 1,442 (371 ) 77,108 Other debt securities 7,404 159 (35 ) 7,528 Debt securities 90,191 1,603 (447 ) 91,347 Certificates of deposit 5,880 17 - 5,897 $ 270,562 3,522 (641 ) 273,443 The Company's mortgage-backed securities and collateralized mortgage obligations issued by government sponsored enterprises are guaranteed by one of the following government sponsored enterprises: Fannie Mae, Freddie Mac or Ginnie Mae. At December 31, 2015, $94.1 million of the Company's mortgage related securities were pledged as collateral to secure repurchase agreement obligations of the Company. As of December 31, 2015, $2.5 million of the Company's mortgage related securities were pledged as collateral to secure . The amortized cost and fair value of securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers or borrowers may have the right to prepay obligations with or without prepayment penalties. December 31, 2015 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 12,914 12,951 Due after one year through five years 17,157 17,210 Due after five years through ten years 44,647 45,628 Due after ten years 26,637 26,774 Mortgage-related securities 166,516 167,095 $ 267,871 269,658 Total proceeds and gross gains and losses from sales of investment securities available for sale for each of periods listed below. December 31, 2015 2014 2013 (In Thousands) Gross gains $ 44 - 6 Gross losses - - (15 ) Gains on sale of investment securities, net $ 44 - (9 ) Proceeds from sales of investment securities $ 1,034 - 921 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: December 31, 2015 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 18,488 (163 ) 5,577 (85 ) 24,065 (248 ) Collateralized mortgage obligations Government sponsored enterprise issued 48,281 (300 ) - - 48,281 (300 ) Government sponsored enterprise bonds 3,246 (4 ) - - 3,246 (4 ) Municipal securities 9,409 (18 ) 5,555 (62 ) 14,964 (80 ) Other debt securities 14,363 (647 ) - - 14,363 (647 ) Certificates of deposit 976 (4 ) - - 976 (4 ) $ 94,763 (1,136 ) 11,132 (147 ) 105,895 (1,283 ) December 31, 2014 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 10,537 (13 ) 12,489 (111 ) 23,026 (124 ) Collateralized mortgage obligations Government sponsored enterprise issued 23,131 (70 ) - - 23,131 (70 ) Government sponsored enterprise bonds 2,739 (11 ) 2,970 (30 ) 5,709 (41 ) Municipal securities 5,671 (19 ) 21,344 (352 ) 27,015 (371 ) Other debt securities 4,977 (35 ) - - 4,977 (35 ) Certificates of deposit 490 - - - 490 - $ 47,545 (148 ) 36,803 (493 ) 84,348 (641 ) The Company reviews the investment securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. In evaluating whether a security's decline in market value is other-than-temporary, management considers the length of time and extent to which the fair value has been less than cost, financial condition of the issuer and the underlying obligors, quality of credit enhancements, volatility of the fair value of the security, the expected recovery period of the security and ratings agency evaluations. In addition the Company may also evaluate payment structure, whether there are defaulted payments or expected defaults, prepayment speeds and the value of any underlying collateral. As of December 31, 2015, the Company identified two municipal securities that were deemed to be other-than-temporarily impaired. Both securities were issued by a tax incremental district in a municipality located in Wisconsin. During the year ended December 31, 2012, the Company received audited financial statements with respect to the municipal issuer that called into question the ability of the underlying taxing district that issued the securities to operate as a going concern. During the year ended December 31, 2012, the Company's analysis of these securities resulted in $100,000 in credit losses that were charged to earnings with respect to these two municipal securities. An additional $17,000 credit loss was charged to earnings during the year ended December 31, 2014 with respect to these two securities. During the year ended December 31, 2014, there were sales in the market of municipal issuer bonds at a discounted price that resulted in the Company recording additional credit losses. As of December 31, 2015, these securities had a combined amortized cost of $198,000 and a total life-to-date impairment of $117,000. As of December 31, 2015, the Company had 14 municipal securities and four mortgage-backed securities which had been in an unrealized loss position for twelve months or longer. These securities were determined not to be other-than-temporarily impaired as of December 31, 2015. The Company has determined that the decline in fair value of these securities is not attributable to credit deterioration, and as the Company does not intend to sell nor is it more likely than not that it will be required to sell these securities before recovery of the amortized cost basis, these securities are not considered other-than-temporarily impaired. Continued deterioration of general economic market conditions could result in the recognition of future other than temporary impairment losses within the investment portfolio and such amounts could be material to our consolidated financial statements. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents the change in other-than-temporary credit related impairment charges on municipal securities for which a portion of the other-than-temporary impairments related to other factors was recognized in other comprehensive loss. (in thousands) Credit-related impairments on securities as of December 31, 2013 $ 100 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized 17 Credit-related impairments on securities as of December 31, 2014 117 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2015 $ 117

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2015
Loan Receivable [Abstract]
Loans Receivable	3) Loans Receivable Loans receivable at December 31, 2015 and 2014 are summarized as follows: December 31, 2015 2014 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 381,992 411,979 Multi family 547,250 522,281 Home equity 24,326 29,207 Construction and land 19,148 17,081 Commercial real estate 118,820 94,771 Consumer 361 200 Commercial loans 23,037 19,471 Total loans receivable $ 1,114,934 1,094,990 The Company provides several types of loans to its customers, including residential, construction, commercial and consumer loans. Significant loan concentrations are considered to exist for a financial institution when there are amounts loaned to one borrower or to multiple borrowers engaged in similar activities that would cause them to be similarly impacted by economic or other conditions. While credit risks tend to be geographically concentrated in the Company's Milwaukee metropolitan area and while 85.3% of the Company's loan portfolio involves loans that are secured by residential real estate, there are no concentrations with individual or groups of related borrowers. While the real estate collateralizing these loans is primarily residential in nature, it ranges from owner-occupied single family homes to large apartment complexes. Qualifying loans receivable totaling $872.8 million and $844.2 million are pledged as collateral against $350.0 million in outstanding Federal Home Loan Bank of Chicago advances under a blanket security agreement at both December 31, 2015 and December 31, 2014. An analysis of past due loans receivable as of December 31, 2015 and 2014 follows: As of December 31, 2015 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 851 1,133 6,503 8,487 373,505 381,992 Multi family - 207 1,858 2,065 545,185 547,250 Home equity 255 96 110 461 23,865 24,326 Construction and land - - 238 238 18,910 19,148 Commercial real estate 57 - 223 280 118,540 118,820 Consumer - - - - 361 361 Commercial loans - - - - 23,037 23,037 Total $ 1,163 1,436 8,932 11,531 1,103,403 1,114,934 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 As of December 31, 2014 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 3,767 3,743 12,196 19,706 392,273 411,979 Multi family 462 280 11,092 11,834 510,447 522,281 Home equity 268 153 250 671 28,536 29,207 Construction and land 90 - 362 452 16,629 17,081 Commercial real estate 225 - 947 1,172 93,599 94,771 Consumer - - - - 200 200 Commercial loans 34 - 265 299 19,172 19,471 Total $ 4,846 4,176 25,112 34,134 1,060,856 1,094,990 (1) Includes $315 and $1.6 million for December 31, 2015 and 2014, respectively, which are on non-accrual status. (2) Includes $467 and $795 for December 31, 2015 and 2014, respectively, which are on non-accrual status. (3) Includes $7.9 million and $10.5 million for December 31, 2015 and 2014, respectively, which are on non-accrual status. As of December 31, 2015 and 2014, there are no loans that are 90 or more days past due and still accruing interest. A summary of the activity for the years ended 2015, 2014 and 2013 in the allowance for loan losses follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Year ended December 31, 2015 Balance at beginning of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Provision for loan losses 1,092 931 (27 ) 243 (266 ) (1 ) (7 ) 1,965 Charge-offs (3,855 ) (2,281 ) (72 ) (84 ) (45 ) (3 ) - (6,340 ) Recoveries 649 992 110 58 40 5 - 1,854 Balance at end of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Year ended December 31, 2014 Balance at beginning of period $ 11,549 7,211 1,807 1,613 1,402 34 648 24,264 Provision for loan losses (1,081 ) 3,205 (1,208 ) (505 ) 721 (27 ) 45 1,150 Charge-offs (2,424 ) (5,247 ) (191 ) (496 ) (199 ) (5 ) (293 ) (8,855 ) Recoveries 1,833 189 14 75 27 6 3 2,147 Balance at end of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Year ended December 31, 2013 Balance at beginning of period $ 17,819 7,734 2,097 1,323 1,259 30 781 31,043 Provision for loan losses 1,479 859 305 1,719 303 (2 ) (131 ) 4,532 Charge-offs (8,706 ) (1,640 ) (630 ) (1,480 ) (160 ) - (8 ) (12,624 ) Recoveries 957 258 35 51 - 6 6 1,313 Balance at end of period $ 11,549 7,211 1,807 1,613 1,402 34 648 24,264 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2015 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Allowance related to loans individually evaluated for impairment $ 1,114 242 108 3 106 - 3 1,576 Allowance related to loans collectively evaluated for impairment 6,649 4,758 325 901 1,574 9 393 14,609 Balance at end of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Loans individually evaluated for impairment $ 18,385 5,100 472 1,795 1,766 - 27 27,545 Loans collectively evaluated for impairment 363,607 542,150 23,854 17,353 117,054 361 23,010 1,087,389 Total gross loans $ 381,992 547,250 24,326 19,148 118,820 361 23,037 1,114,934 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2014 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands ) Allowance related to loans individually evaluated for impairment $ 2,386 731 63 13 526 - 7 3,726 Allowance related to loans collectively evaluated for impairment 7,491 4,627 359 674 1,425 8 396 14,980 Balance at end of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Loans individually evaluated for impairment $ 29,509 15,562 589 2,266 3,077 - 299 51,302 Loans collectively evaluated for impairment 382,470 506,719 28,618 14,815 91,694 200 19,172 1,043,688 Total gross loans $ 411,979 522,281 29,207 17,081 94,771 200 19,471 1,094,990 The following table presents information relating to the Company's internal risk ratings of its loans receivable as of December 31, 2015 and 2014: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2015 (In Thousands) Substandard $ 19,148 2,553 684 1,794 1,766 - 55 26,000 Watch 11,352 3,634 128 - 1,161 - 402 16,677 Pass 351,492 541,063 23,514 17,354 115,893 361 22,580 1,072,257 $ 381,992 547,250 24,326 19,148 118,820 361 23,037 1,114,934 At December 31, 2014 (In Thousands) Substandard $ 28,945 12,638 624 2,266 3,077 - 299 47,849 Watch 10,779 7,070 278 1,377 2,186 - 840 22,530 Pass 372,255 502,573 28,305 13,438 89,508 200 18,332 1,024,611 $ 411,979 522,281 29,207 17,081 94,771 200 19,471 1,094,990 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Factors that are important to managing overall credit quality include sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, an allowance for loan losses, and sound non-accrual and charge-off policies. Our underwriting policies require an officers' loan committee review and approval of all loans in excess of $500,000. In addition, an independent loan review function exists for all loans. Our ability to manage credit risk depends in large part on our ability to properly identify and manage problem loans. To do so, we maintain a loan review system under which our credit management personnel review non-owner occupied one- to four-family, over four-family, construction and land, commercial real estate and commercial loans that individually, or as part of an overall borrower relationship exceed $1.0 million in potential exposure. Loans meeting these criteria are reviewed on an annual basis, or more frequently, if the loan renewal is less than one year. With respect to this review process, management has determined that pass loans include loans that exhibit acceptable financial statements, cash flow and leverage. Watch loans have potential weaknesses that deserve management's attention, and if left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit. Substandard loans are considered inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged. These loans generally have a well-defined weakness that may jeopardize liquidation of the debt and are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Finally, a loan is considered to be impaired when it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management has determined that all non-accrual loans and loans modified under troubled debt restructurings meet the definition of an impaired loan. The Company's procedures dictate that an updated valuation must be obtained with respect to underlying collateral at the time a loan is deemed impaired. Updated valuations may also be obtained upon transfer from loans receivable to real estate owned based upon the age of the prior appraisal, changes in market conditions or known changes to the physical condition of the property. Estimated fair values are reduced to account for sales commissions, broker fees, unpaid property taxes and additional selling expenses to arrive at an estimated net realizable value. The adjustment factor is based upon the Company's actual experience with respect to sales of real estate owned over the prior two years. In situations in which we are placing reliance on an appraisal that is more than one year old, an additional adjustment factor is applied to account for downward market pressure since the date of appraisal. The additional adjustment factor is based upon relevant sales data available for our general operating market as well as company-specific historical net realizable values as compared to the most recent appraisal prior to disposition. With respect to over-four family income producing real estate, appraisals are reviewed and estimated collateral values are adjusted by updating significant appraisal assumptions to reflect current real estate market conditions. Significant assumptions reviewed and updated include the capitalization rate, rental income and operating expenses. These adjusted assumptions are based upon recent appraisals received on similar properties as well as on actual experience related to real estate owned and currently under Company management. The following tables present data on impaired loans at December 31, 2015 and 2014. As of or for the Year Ended December 31, 2015 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 7,903 8,923 1,114 1,020 8,113 393 Multi family 1,055 1,055 242 - 1,044 42 Home equity 169 169 108 - 174 10 Construction and land 156 269 3 113 155 - Commercial real estate 314 723 106 409 367 23 Consumer - - - - - - Commercial 3 3 3 - 5 1 $ 9,600 11,142 1,576 1,542 9,858 469 Total Impaired with no Reserve One- to four-family $ 10,482 11,991 - 1,509 10,676 500 Multi family 4,045 5,090 - 1,045 4,106 245 Home equity 303 303 - - 307 13 Construction and land 1,639 1,639 - - 1,827 62 Commercial real estate 1,452 1,452 - - 1,458 72 Consumer - - - - - - Commercial 24 24 - - 29 2 $ 17,945 20,499 - 2,554 18,403 894 Total Impaired One- to four-family $ 18,385 20,914 1,114 2,529 18,789 893 Multi family 5,100 6,145 242 1,045 5,150 287 Home equity 472 472 108 - 481 23 Construction and land 1,795 1,908 3 113 1,982 62 Commercial real estate 1,766 2,175 106 409 1,825 95 Consumer - - - - - - Commercial 27 27 3 - 34 3 $ 27,545 31,641 1,576 4,096 28,261 1,363 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The difference between a loan's recorded investment and the unpaid principal balance represents a partial charge-off resulting from a confirmed loss due to the value of the collateral securing the loan being below the loan balance and management's assessment that the full collection of the loan balance is not likely. When a loan is considered impaired, interest payments received are treated as interest income on a cash basis as long as the remaining book value of the loan (i.e., after charge-off of all identified losses) is deemed to be fully collectible. If the remaining book value is not deemed to be fully collectible, all payments received are applied to unpaid principal. Determination as to the ultimate collectability of the remaining book value is supported by an updated credit department evaluation of the borrower's financial condition and prospects for repayment, including consideration of the borrower's sustained historical repayment performance and other relevant factors. As of or for the Year Ended December 31, 2014 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 11,864 13,345 2,386 1,481 15,982 515 Multi family 7,438 10,285 731 2,847 12,720 177 Home equity 144 144 63 - 195 7 Construction and land 47 61 13 14 63 - Commercial real estate 2,984 3,544 526 560 4,211 128 Consumer - - - - - - Commercial 7 7 7 - 12 1 $ 22,484 27,386 3,726 4,902 33,183 828 Total Impaired with no Reserve One- to four-family $ 17,645 19,795 - 2,150 23,215 860 Multi family 8,124 9,364 - 1,240 12,693 439 Home equity 445 445 - - 554 15 Construction and land 2,219 2,332 - 113 3,379 97 Commercial real estate 93 93 - - 126 4 Consumer - - - - - - Commercial 292 535 - 243 470 2 $ 28,818 32,564 - 3,746 40,437 1,417 Total Impaired One- to four-family $ 29,509 33,140 2,386 3,631 39,197 1,375 Multi family 15,562 19,649 731 4,087 25,413 616 Home equity 589 589 63 - 749 22 Construction and land 2,266 2,393 13 127 3,442 97 Commercial real estate 3,077 3,637 526 560 4,337 132 Consumer - - - - - - Commercial 299 542 7 243 482 3 $ 51,302 59,950 3,726 8,648 73,620 2,245 The determination as to whether an allowance is required with respect to impaired loans is based upon an analysis of the value of the underlying collateral and/or the borrower's intent and ability to make all principal and interest payments in accordance with contractual terms. The evaluation process is subject to the use of significant estimates and actual results could differ from estimates. This analysis is primarily based upon third party appraisals and/or a discounted cash flow analysis. In those cases in which no allowance has been provided for an impaired loan, the Company has determined that the estimated value of the underlying collateral exceeds the remaining outstanding balance of the loan. Of the total $17.9 million of impaired loans as of December 31, 2015 for which no allowance has been provided, $2.6 million in charge-offs have been recorded to reduce the unpaid principal balance to an amount that is commensurate with the loan's net realizable value, using the estimated fair value of the underlying collateral. To the extent that further deterioration in property values continues, the Company may have to reevaluate the sufficiency of the collateral servicing these impaired loans resulting in additional provisions to the allowance for loans losses or charge-offs. The following presents data on troubled debt restructurings: As of December 31, 2015 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 3,900 4 $ 5,739 45 $ 9,639 49 Multi family 2,546 1 2,317 7 4,863 8 Home equity - - 98 1 98 1 Construction and land 1,556 2 - - 1,556 2 Commercial real estate 1,306 1 77 1 1,383 2 $ 9,308 8 $ 8,231 54 $ 17,539 62 As of December 31, 2014 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 4,724 8 $ 10,233 55 $ 14,957 63 Multi family 2,923 2 4,797 7 7,720 9 Home equity - - 98 1 98 1 Construction and land 1,866 2 - - 1,866 2 Commercial real estate 1,306 1 170 1 1,476 2 $ 10,819 13 $ 15,298 64 $ 26,117 77 Troubled debt restructurings involve granting concessions to a borrower experiencing financial difficulty by modifying the terms of the loan in an effort to avoid foreclosure. Typical restructured terms include six to twelve months of principal forbearance, a reduction in interest rate or both. In no instances have the restructured terms included a reduction of outstanding principal balance. At December 31, 2015, $17.5 million in loans had been modified in troubled debt restructurings and $8.2 million of these loans were included in the non-accrual loan total. The remaining $9.3 million, while meeting the internal requirements for modification in a troubled debt restructuring, were current with respect to payments under their original loan terms at the time of the restructuring and thus, continued to be included with accruing loans. Provided these loans perform in accordance with the modified terms, they will continue to be accounted for on an accrual basis. All loans that have been modified in a troubled debt restructuring are considered to be impaired. As such, an analysis has been performed with respect to all of these loans to determine the need for a valuation reserve. When a loan is expected to perform in accordance with the restructured terms and ultimately return to and perform under contract terms, a valuation allowance is established for an amount equal to the excess of the present value of the expected future cash flows under the original contract terms as compared with the modified terms, including an estimated default rate. When there is doubt as to the borrower's ability to perform under the restructured terms or ultimately return to and perform under market terms, a valuation allowance is established equal to the impairment when the carrying amount exceeds fair value of the underlying collateral. As a result of the impairment analysis, a $996,000 valuation allowance has been established as of December 31, 2015 with respect to the $17.5 million in troubled debt restructurings. As of December 31, 2014, $1.5 million in valuation allowance had been established with respect to the $26.1 million in troubled debt restructurings. If an updated credit department review indicates no other evidence of elevated credit risk and the borrower completes a minimum of six consecutive contractual payments, the loan is returned to accrual status at that time. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following presents troubled debt restructurings by concession type at December 31, 2015 and 2014: As of December 31, 2015 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 13,971 30 1,012 5 14,983 35 Principal forbearance 97 1 - - 97 1 Interest reduction 2,459 26 - - 2,459 26 $ 16,527 57 1,012 5 17,539 62 As of December 31, 2014 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 15,306 36 2,014 7 17,320 43 Principal forbearance 490 3 2,632 1 3,122 4 Interest reduction 4,875 11 800 19 5,675 30 $ 20,671 50 5,446 27 26,117 77 The following presents data on troubled debt restructurings: For the Years Ended December 31, 2015 December 31, 2014 Amount Number Amount Number (Dollars in Thousands) Loans modified as a troubled debt restructure One- to four-family $ 186 3 2,939 14 Multi family 819 2 1,337 5 Home equity - - 98 1 Commercial real estate - - 1,306 1 $ 1,005 5 5,680 21 There were four troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2015. The four troubled debt restructurings within the past twelve months for which there was a default totaled $935,000 primarily made up of multi family loans. There were no troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2014. The following table presents data on non-accrual loans: As of December 31, 2015 2014 (Dollars in Thousands) Residential One- to four-family $ 13,888 23,918 Multi family 2,553 12,001 Home equity 437 445 Construction and land 239 401 Commercial real estate 460 947 Commercial 27 299 Consumer - - Total non-accrual loans $ 17,604 38,011 Total non-accrual loans to total loans 1.58 % 3.47 % Total non-accrual loans to total assets 1.00 % 2.13 %

Office Properties and Equipment

Office Properties and Equipment	12 Months Ended
	Dec. 31, 2015
Office Properties and Equipment [Abstract]
Office Properties and Equipment	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 4) Office Properties and Equipment Office properties and equipment are summarized as follows: December 31, 2015 2014 (In Thousands) Land $ 6,668 6,442 Office buildings and improvements 29,990 28,085 Furniture and equipment 12,655 16,339 49,313 50,866 Less accumulated depreciation (23,985 ) (25,304 ) $ 25,328 25,562 Depreciation of premises and equipment totaled $3.1 million, $3.3 million and $2.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. The Company and certain subsidiaries are obligated under non-cancelable operating leases for other facilities and equipment. Rent and equipment lease expense totaled $3.8 million, $4.5 million and $3.3 million for the years ended December 31, 2015, 2014 and 2013, respectively. The appropriate minimum annual commitments under all non-cancelable lease agreements as of December 31, 2015 are as follows: Operating leases (In Thousands) Within one year $ 2,899 One to two years 2,223 Two to three years 1,727 Three to four years 1,197 Four through five years 931 After five years 2,175 Total $ 11,152

Real Estate Owned

Real Estate Owned	12 Months Ended
	Dec. 31, 2015
Real Estate Owned [Abstract]
Real Estate Owned [Text Block]	5) Real Estate Owned Real estate owned is summarized as follows: December 31, 2015 2014 (In Thousands) One- to four-family $ 4,610 10,896 Multi-family 209 2,210 Construction and land 5,262 5,400 Commercial real estate 300 300 Total 10,381 18,806 Valuation allowance at end of period (1,191 ) (100 ) Total real estate owned, net $ 9,190 18,706 The following table presents the activity in real estate owned: Year Ended December 31, 2015 2014 (In Thousands) Real estate owned at beginning of period $ 18,706 22,663 Transferred in from loans receivable 15,580 16,645 Sales (23,413 ) (19,057 ) Write downs (2,202 ) (1,523 ) Other activity 519 (22 ) Real estate owned at end of period $ 9,190 18,706

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2015
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 6) Mortgage Servicing Rights The following table presents the activity related to the Company's mortgage servicing rights: Year ended December 31, 2015 2014 (In Thousands) Mortgage servicing rights at beginning of the period $ 2,511 $ 3,377 Additions 3,838 4,181 Amortization (481 ) (435 ) Sales (4,446 ) (4,602 ) Mortgage servicing rights at end of the period 1,422 2,521 Valuation allowance at end of period - (10 ) Mortgage servicing rights at the end of the period, net $ 1,422 $ 2,511 During the twelve months ended December 31, 2015, $2.0 billion in residential loans were originated for sale. During the same period, sales of loans held for sale totaled $1.9 billion, generating mortgage banking income of $101.5 million. The unpaid principal balance of loans serviced for others was $176.4 million and $308.1 million at December 31, 2015 and December 31, 2014 respectively. These loans are not reflected in the consolidated statements of financial condition. During the twelve months ended December 31, 2015, the Company sold mortgage servicing rights related to $580.2 million in loans receivable and with a book value of $4.4 million for $5.3 million resulting in a gain on sale of $901,000. During the twelve months ended December 31, 2014, the Company sold mortgage servicing rights related to $713.0 million in loans receivable and with a book value of $4.6 million for $7.1 million resulting in a gain on sale of $2.5 million. The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2015 for the periods indicated: (In Thousands) Estimate for the years ended December 31: 2016 $ 212 2017 194 2018 176 2019 157 2020 141 Thereafter 542 Total $ 1,422

Deposits

Deposits	12 Months Ended
	Dec. 31, 2015
Deposits [Abstract]
Deposits	7) Deposits The aggregate amount of time deposit accounts with balances greater than $250,000 at December 31, 2015 and 2014 amounted to $37.7 million and $34.6 million, respectively. A summary of interest expense on deposits is as follows: Years ended December 31, 2015 2014 2013 (In Thousands) Interest-bearing demand deposits $ 20 16 13 Money market and savings deposits 197 113 132 Time deposits 5,662 4,797 5,070 $ 5,879 4,926 5,215 A summary of the contractual maturities of time deposits at December 31, 2015 is as follows: (In Thousands) Within one year $ 508,357 One to two years 125,148 Two to three years 9,749 Three to four years 2,971 Four through five years 3,832 $ 650,057

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2015
Borrowings [Abstract]
Borrowings	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 8) Borrowings Borrowings consist of the following: December 31, 2015 December 31, 2014 Balance Weighted Average Rate Balance Weighted Average Rate (In Thousands) Short-term repurchase agreements $ 7,203 3.19 % - 0.00 % Federal Home Loan Bank advances maturing: 2016 220,000 4.34 % 220,000 4.34 % 2017 65,000 3.19 % 65,000 3.19 % 2018 65,000 2.97 % 65,000 2.97 % Repurchase agreements maturing: 2017 84,000 3.96 % 84,000 3.96 % $ 441,203 3.88 % 434,000 3.89 % The short-term repurchase agreements represents the outstanding portion of a total $35.0 million commitment with one unrelated bank. The short-term repurchase agreement is utilized by Waterstone Mortgage Corporation to finance loans originated for sale. This agreement is secured by the underlying loans being financed. Related interest rates are based upon the note rate associated with the loans being financed. The short-term repurchase agreement has $7.2 million balance on a total commitment of $35.0 million at December 31, 2015. The $220.0 million in advances due in 2016 consist of eight advances with fixed rates ranging from 4.01% to 4.82% callable quarterly until maturity. The $65.0 million in advances due in 2017 consist of three advances with fixed rates ranging from 3.09% to 3.46% callable quarterly until maturity. The $65.0 million in advances due in 2018 consist of three advances with fixed rates ranging from 2.73% to 3.11% callable quarterly until maturity. The $84.0 million in repurchase agreements have fixed rates ranging from 2.89% to 4.31% callable quarterly until their maturity in 2017. The repurchase agreements are collateralized by securities available for sale with an estimated fair value of $94.1 million at December 31, 2015. The Company selects loans that meet underwriting criteria established by the Federal Home Loan Bank Chicago (FHLBC) as collateral for outstanding advances. The Company's borrowings at the FHLBC are limited to 80% of the carrying value of unencumbered one- to four-family mortgage loans, 51% of the carrying value of home equity loans and 75% of the carrying value of over four-family loans. In addition, these advances are collateralized by FHLBC stock of $19.5 million at December 31, 2015 and $17.5 million at December 31, 2014. In the event of prepayment, the Company is obligated to pay all remaining contractual interest on the advance.

Regulatory Capital

Regulatory Capital	12 Months Ended
	Dec. 31, 2015
Regulatory Capital [Abstract]
Regulatory Capital	9) Regulatory Capital The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements, or overall financial performance deemed by the regulators to be inadequate, can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Company's and Bank's assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. The Company's and Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Federal Reserve Board and the FDIC issued final rules implementing the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes. The rules revise minimum capital requirements and adjust prompt corrective action thresholds. The final rules revise the regulatory capital elements, add a new common equity Tier I capital ratio, increase the minimum Tier 1 capital ratio requirements and implement a new capital conservation buffer. The rules also permit certain banking organizations to retain, through a one-time election, the existing treatment for accumulated other comprehensive income. The Company and the Bank have made the election to retain the existing treatment for accumulated other comprehensive income. The final rules took effect for the Company and the Bank on January 1, 2015, subject to a transition period for certain parts of the rules. The table below includes the new regulatory capital ratio requirements that became effective on January 1, 2015. Beginning in 2016, an additional capital conservation buffer will be added to the minimum requirements for capital adequacy purposes, subject to a three year phase-in period. The capital conservation buffer will be fully phased-in on January 1, 2019 at 2.5 percent. A banking organization with a conservation buffer of less than 2.5 percent (or the required phase-in amount in years prior to 2019) will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. At the present time, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The actual and required capital amounts and ratios as of December 31, 2015 and 2014 are presented in the table below: December 31, 2015 Actual For Capital Adequacy Purposes To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 405,947 33.41 % $ 97,207 8.00 % N/ A N/ A WaterStone Bank 374,435 30.92 % 96,885 8.00 % 121,106 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 390,747 32.16 % 72,905 6.00 % N/ A N/ A WaterStone Bank 359,284 29.67 % 72,664 6.00 % 96,885 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 390,747 32.16 % 54,679 4.50 % N/ A N/ A WaterStone Bank 359,284 29.67 % 54,498 4.50 % 78,719 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 390,747 22.20 % 70,417 4.00 % N/ A N/ A WaterStone Bank 359,284 20.45 % 70,286 4.00 % 87,857 5.00 % State of Wisconsin (to total assets) WaterStone Bank 359,284 20.43 % 105,493 6.00 % N/ A N/ A December 31, 2014 (Dollars In Thousands) Total capital (to risk-weighted assets) $ 357,514 31.98 % 89,428 8.00 % 111,785 10.00 % Tier I capital (to risk-weighted assets) 343,483 30.73 % 44,714 4.00 % 67,071 6.00 % Tier I capital (to average assets) 343,483 19.04 % 72,175 4.00 % 90,219 5.00 % State of Wisconsin (to total assets) 343,483 19.33 % 106,643 6.00 % N/ A N/ A

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2015
Stock Based Compensation [Abstract]
Stock Based Compensation	10) Stock Based Compensation Stock-Based Compensation Plan In 2006, the Company's shareholders approved the 2006 Equity Incentive Plan. All stock awards granted under this plan vest over a period of five years and are required to be settled in shares of the Company's common stock. The exercise price for all stock options granted is equal to the quoted NASDAQ market close price on the date that the awards were granted and expire ten years after the grant date, if not exercised. All restricted stock grants are issued from previously unissued shares. In 2015, the Company's shareholders approved the 2015 Equity Incentive Plan. A total of 2,530,000 stock options and 1,012,000 restricted shares were approved for award. The 610,000 stock options granted to employees under this plan vest over a period of five years. The 600,000 stock option awards granted to directors under this plan vest over a period of eight years. The exercise price for all stock options granted is equal to the quoted NASDAQ market close price on the date that the awards were granted and expire ten years after the grant date, if not exercised. The 365,500 restricted stock awards granted to employees under this plan vest in five periods over four years with one period vesting immediately. The 184,000 stock awards granted to directors under this plan vest in eight periods over seven years with one period vesting immediately. The fair value of the awards were equal to the quoted NASDAQ market close price on the vest date. Accounting for Stock-Based Compensation Plan The fair value of stock options granted is estimated on the grant date using a Black-Scholes pricing model. The fair value of restricted shares is equal to the quoted NASDAQ market close price on the date of grant. The fair value of stock grants is recognized as compensation expense on a straight-line basis over the vesting period of the grants. Compensation expense is included in compensation, payroll taxes and other employee benefits in the consolidated statements of income. Assumptions are used in estimating the fair value of stock options granted. The weighted average expected life of the stock options represent the period of time that the options are expected to be outstanding and is based on the historical results from the previous awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the actual volatility of a peer group including Waterstone Financial, Inc. stock from approximately five years prior to issuance date. The following assumptions were used in estimating the fair value of options granted in the year ended December 31, 2015. There were no options granted during the year ended December 31, 2014. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 2015 Minimum Maximum Dividend Yield 1.45 % 1.57 % Risk-free interest rate 1.60 % 1.72 % Expected volatility 28.24 % 31.88 % Weighted average expected life 4.5 5.0 Weighted average per share value of options $ 3.08 3.24 The Company estimates potential forfeitures of stock grants and adjusts compensation expense recorded accordingly. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized in the period of change and will also impact the amount of stock compensation expense to be recognized in future periods. A summary of the Company's stock option activity for the years ended December 31, 2015, 2014 and 2013 is presented below. Stock Options Shares Weighted Average Exercise Price Weighted Average Years Remaining in Contractual Term Aggregate Intrinsic Value (000's) Outstanding December 31, 2012 1,119,795 $ 11.95 5.69 1,622 Options exercisable at December 31, 2012 816,939 15.12 4.31 80 Granted - - - Exercised (1,097 ) 1.72 (9 ) Forfeited (19,751 ) 4.63 (112 ) Outstanding December 31, 2013 1,098,947 12.11 4.18 2,744 Options exercisable at December 31, 2013 870,707 14.23 3.28 636 Granted - - - Exercised (31,624 ) 1.73 361 Forfeited (96,576 ) 13.33 (18 ) Outstanding December 31, 2014 970,747 12.33 3.32 797 Options exercisable at December 31, 2014 824,803 14.16 2.67 (829 ) Granted 1,210,000 12.79 1,584 Exercised (62,276 ) 1.90 760 Forfeited (15,424 ) 13.42 10 Outstanding December 31, 2015 2,103,047 12.90 6.15 2,533 Options exercisable at December 31, 2015 810,255 14.25 1.63 (123 ) The following table summarizes information about the Corporation's stock options outstanding at December 31, 2015. Options Outstanding Weighted Average Exercise Price Remaining Life (Years) Options Exercisable Weighted Average Exercise Price Remaining Life (Years) Range of Exercise Prices $ 0.01 - $5.00 195,781 $ 2.31 5.70 107,989 $ 2.71 5.42 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 1,215,973 12.78 9.14 10,973 11.65 1.96 Over $15.01 691,293 16.10 1.03 691,293 16.10 1.03 2,103,047 $ 12.90 6.15 810,255 $ 14.25 1.63 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Stock Options Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2013 228,238 $ 1.33 Granted - - Vested (62,543 ) 1.41 Forfeited (19,751 ) 1.14 Nonvested at December 31, 2014 145,944 1.32 Nonvested at December 31, 2014 145,944 $ 1.32 Granted 1,210,000 3.23 Vested (55,957 ) 2.20 Forfeited (7,195 ) 3.19 Nonvested at December 31, 2015 1,292,792 3.09 The Company amortizes the expense related to stock options as compensation expense over the vesting period. During the year ended December 31, 2015, 1,210,000 options were granted, 15,424 were forfeited, of which 8,229 were vested. During the year ended December 31, 2014, no options were granted, 96,576 were forfeited, of which 82,297 were vested. During the year ended December 31, 2013, no options were granted and 19,751 were forfeited, of which 7,681 were vested. Expense for the stock options granted of $580,000, $80,000 and $81,000 was recognized during the years ended December 31, 2015, 2014 and 2013, respectively. At December 31, 2015, the Company had $3.4 million in estimated unrecognized compensation costs related to outstanding stock options that is expected to be recognized over a weighted average period of 68 months. The following table summarizes information about the Company's restricted stock shares activity for the years ended December 31, 2015 and 2014: Restricted Stock Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2013 87,784 $ 1.72 Granted - - Vested (21,945 ) 1.73 Forfeited (16,459 ) 1.73 Nonvested at December 31, 2014 49,380 1.73 Nonvested at December 31, 2014 49,380 1.73 Granted 549,500 12.77 Vested (110,559 ) 11.11 Forfeited - - Nonvested at December 31, 2015 488,321 12.03 The Company amortizes the expense related to restricted stock awards as compensation expense over the vesting period. During the year ended December 31, 2015, 549,500 shares of restricted stock were granted and no shares were forfeited. During the year ended December 31, 2014, no shares of restricted stock were granted and 16,459 shares were forfeited. Expense for the restricted stock awards of $2.2 million, $28,000 and $45,000 was recorded for the years ended December 31, 2015, 2014 and 2013, respectively. At December 31, 2015, the Company had $4.8 million of unrecognized compensation expense related to restricted stock shares that is expected to be recognized over a weighted average period 51 months.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2015
Employee Benefit Plans [Abstract]
Employee Benefit Plans	11) Employee Benefit Plans The Company has two 401(k) profit sharing plans and trusts covering substantially all employees. WaterStone Bank employees over 18 years of age are immediately eligible to participate in the Bank's Plan. Waterstone Mortgage employees over 18 years of age are eligible to participate in its Plan as of the first of the month following their date of employment. Participating employees may annually contribute pretax compensation in accordance with IRS limits. The Company made matching contributions of $595,000, $488,000 and $486,000 to the Plans during the years ended December 31, 2015, 2014 and 2013 respectively. The Company has a nonqualified salary continuation plan for one former employee, that provides for payments of specific amounts over a 10-year period subsequent to the employee's retirement. The deferred compensation liability was accrued ratably to the employee's respective normal retirement date. Payments made to the retired employee, which will continue until June of 2017, reduce the liability. As of December 31, 2015 and 2014, approximately $228,000 and $384,000 was accrued related to this plan. This agreement is funded by a life insurance policy with a death benefit of $7.4 million and a cash surrender value of $4.3 million and $3.9 million at December 31, 2015 and 2014, respectively. The former employee has no interest in this policy. There was no expense for compensation under this agreement during the years ended December 31, 2015, 2014 and 2013.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2015
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 12) Employee Stock Ownership Plan All employees are eligible to participate in the WaterStone Bank Employee Stock Ownership Plan (the "Plan") after they attain twenty one years of age and complete twelve consecutive months of service in which they work at least 1,000 hours of service. The Plan debt is secured by shares of the Company. The Company has committed to make annual contributions to the Plan necessary to repay the loan, including interest. During the year ended December 31, 2014, the Plan borrowed an additional $23.8 million from the Company and refinanced the remaining 83,561 shares (related to the 2005 Plan purchase), purchased an additional 2,024,000 shares of common stock of the Company in the open market. While the shares are not released and allocated to Plan participants until the loan payment is made, the shares are deemed to be earned and are therefore, committed to be released throughout the service period. As such, one-twentieth of the total 2,107,561 shares are scheduled to be released annually as shares are earned over a period of twenty years, beginning with the period ended December 31, 2015. As the debt is repaid, shares are released from collateral and allocated to active participant accounts. The shares pledged as collateral are reported as "Unearned ESOP shares" in the consolidated statement of financial condition. As shares are committed to be released from collateral, the Company reports compensation expense equal to the average fair market price of the shares, and the shares become outstanding for earnings per share computations. Compensation expense attributed to the ESOP was $1.4 million, $1.2 million and $719,000, respectively for the years ended December 31, 2015, 2014 and 2013. The aggregate activity in the number of unearned ESOP shares, considering the allocation of those shares committed to be released as of December 31, 2015 and 2014 is as follows: 2015 2014 Beginning ESOP shares 2,002,183 83,561 Shares purchased under 2014 plan - 2,024,000 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,896,805 2,002,183 Fair value of unreleased shares $ 26.7 26.2

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	13) Income Taxes The provision for income taxes for the year ended December 31, 2015, 2014 and 2013 consists of the following: Years ended December 31, 2015 2014 2013 (In Thousands) Current: Federal $ 8,061 3,158 2,842 State 1,342 301 385 9,403 3,459 3,227 Deferred: Federal (447 ) 2,578 3,861 State 293 1,138 1,533 (154 ) 3,716 5,394 Total $ 9,249 7,175 8,621 The income tax provisions differ from that computed at the Federal statutory corporate tax rate for the years ended December 31, 2015, 2014 and 2013 as follows: Years ended December 31, 2015 2014 2013 (Dollars In Thousands) Income before income taxes $ 25,819 19,907 23,329 Tax at Federal statutory rate (35%) 9,037 6,967 8,165 Add (deduct) effect of: State income taxes net of Federal income tax benefit 1,063 936 1,246 Cash surrender value of life insurance (496 ) (451 ) (376 ) Non-deductible ESOP and stock option expense 181 39 (62 ) Tax-exempt interest income (552 ) (514 ) (392 ) Non-deductible compensation 154 170 - ESOP dividends (185 ) - - Other 47 28 40 Income tax provision 9,249 7,175 8,621 Effective tax rate 35.8 % 36.0 % 37.0 % Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The significant components of the Company's net deferred tax assets (liabilities) included in prepaid expenses and other assets are as follows at December 31, 2015 and 2014: December 31, 2015 2014 Gross deferred tax assets: (In Thousands) Fixed assets $ 765 290 Compensation agreements 96 149 Restricted stock and stock options 1,363 911 Allowance for loan losses 6,285 7,272 Repurchase reserve for loans sold 192 145 Real estate owned 1,643 1,001 Nonaccrual interest 709 1,371 Capital loss carryforward 441 465 State NOL carryforward - 230 Unrealized loss on impaired securities 45 45 Other 165 87 Total gross deferred tax assets 11,704 11,966 Gross deferred tax liabilities: Unrealized gain on securities available for sale, net (701 ) (1,130 ) Mortgage servicing rights (575 ) (1,019 ) FHLB stock (728 ) (729 ) Deferred loan fees (738 ) (708 ) Deferred liabilities (2,742 ) (3,586 ) Net deferred tax assets $ 8,962 8,380 The Company has a Wisconsin NOL carry forward of $30,000 at December 31, 2015 which will begin to expire in 2028. The Company has a capital loss carry forward of $1.2 million which will expire if unused as of December 31, 2017. The Company has a deferred tax asset of $857,000 related to stock options awarded in 2007. The stock options awarded in 2007 are set to expire in January 2017. If these awards are not exercised, the Company will have to recognize additional tax expense equal to the amount of the deferred tax asset upon expiration. Per ASC 718, the determination of a need for a valuation allowance against stock-based compensation awards by a company should not consider the current fair market value of its stock. Therefore, no valuation allowance has been recorded against these awards, even though these awards are currently out-of-the-money and unlikely to be exercised. Under the Internal Revenue Code and Wisconsin Statutes, the Company was permitted to deduct, for tax years beginning before 1988, an annual addition to a reserve for bad debts. This amount differs from the provision for loan losses recorded for financial accounting purposes. Under prior law, bad debt deductions for income tax purposes were included in taxable income of later years only if the bad debt reserves were used for purposes other than to absorb bad debt losses. Because the Company did not intend to use the reserve for purposes other than to absorb losses, no deferred income taxes were provided. Retained earnings at December 31, 2015 include approximately $16.7 million for which no deferred Federal or state income taxes were provided. Deferred income taxes have been provided on certain additions to the tax reserve for bad debts. The Company and its subsidiaries file consolidated federal and combined state tax returns. One subsidiary also files separate state income tax returns in certain states. The Company is no longer subject to state income tax examinations by certain state tax authorities for years before 2011 or subject to federal tax examinations for the years 2014. In the fourth quarter of 2014, the Internal Revenue Service commenced an examination of the Company's federal income tax returns for 2012 through 2013. The examination concluded in the fourth quarter 2015 with no findings or adjustments proposed.

Offsetting of Assets and Liabil

Offsetting of Assets and Liabilities	12 Months Ended
	Dec. 31, 2015
Offsetting of Assets and Liabilities [Abstract]
liabilities subject to an enforceable master netting agreement [Text Block]	14) Offsetting of Assets and Liabilities The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. In addition, the Company enters into agreements under which it sells loans held for sale subject to an obligation to repurchase the same loans. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of assets. The obligation to repurchase the assets is reflected as a liability in the Company's consolidated statements of condition, while the securities and loans held for sale underlying the repurchase agreements remain in the respective investment securities and loans held for sale asset accounts. In other words, there is no offsetting or netting of the investment securities or loans held for sale assets with the repurchase agreement liabilities. The Company's repurchase agreements are subject to master netting agreements, which sets forth the rights and obligations for repurchase and offset. Under the master netting agreement, the Company is entitled to set off the collateral placed with a single counterparty against obligations owed to that counterparty. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents the liabilities subject to an enforceable master netting agreement as of December 31, 2015 and December 31, 2014. Gross Recognized Liabilities Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount (In thousands) December 31, 2015 Repurchase Agreements Short-term $ 7,203 - 7,203 7,203 - Long-term 84,000 - 84,000 84,000 - $ 91,203 - 91,203 91,203 - December 31, 2014 Repurchase Agreements Short-term $ - - - - - Long-term 84,000 - 84,000 84,000 - $ 84,000 - 84,000 84,000 -

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2015
Financial Instruments with Off Balance Sheet Risk [Abstract]
Financial Instruments with Off-Balance Sheet Risk	15) Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. December 31, 2015 2014 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 10,307 18,889 Commitments to extend credit under home equity lines of credit 14,173 14,775 Unused portion of construction loans 25,545 12,333 Unused portion of business lines of credit 16,392 11,599 Standby letters of credit 566 766 (1) Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements of the Company. The Company evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management's credit evaluation of the counter-party. Collateral obtained generally consists of mortgages on the underlying real estate. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company holds mortgages on the underlying real estate as collateral supporting those commitments for which collateral is deemed necessary. The Company has determined that there are no probable losses related to commitments to extend credit or the standby letters of credit as of December 31, 2015 and 2014. In the normal course of business, the Company, or it's subsidiaries are involved in various legal proceedings. In the opinion of management, any liability resulting from pending proceedings would not be expected to have a material adverse effect on the Company's consolidated financial statements. Herrington, et al. v. Waterstone Mortgage Corporation Waterstone Mortgage Corporation is a defendant in a lawsuit that was filed in the Federal District Court for the Western District of Wisconsin and has been transferred to arbitration alleging that Waterstone Mortgage Corporation violated the Fair Labor Standards Act and failed to pay loan officers consistent with their various contracts. Waterstone Mortgage Corporation is and will continue to vigorously defend its interests in this matter.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 16) Derivative Financial Instruments In connection with its mortgage banking activities, the Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Mortgage banking derivatives include interest rate lock commitments provided to customers to fund mortgage loans to be sold in the secondary market and forward commitments for the future delivery of such loans. It is the Company's practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company's mortgage banking derivatives have not been designated as being a hedge relationship. These instruments are used to manage the Company's exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company does not use derivatives for speculative purposes. Forward commitments to sell mortgage loans represent commitments obtained by the Company from a secondary market agency to purchase mortgages from the Company at specified interest rates and within specified periods of time. Commitments to sell loans are made to mitigate interest rate risk on interest rate lock commitments to originate loans and loans held for sale. At December 31, 2015, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $285.0 million and interest rate lock commitments with an aggregate notional amount of approximately $150.3 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2015 included a loss of $125,000 that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2015 included a gain of $2.3 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated when the loan arising from exercise of the loan commitment is sold in the secondary mortgage market. That value includes the price that the loan is expected to be sold for in the secondary mortgage market. The fair value of these commitments is recorded on the consolidated statements of financial condition with the changes in fair value recorded as a component of mortgage banking income. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages. The Company's agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold related to credit information, loan documentation and collateral, which if subsequently are untrue or breached, could require the Company to repurchase certain loans affected. The Company has only been required to make insignificant repurchases as a result of its representations and warranties. The Company's agreements to sell residential mortgage loans also contain limited recourse provisions. The recourse provisions are limited in that the recourse provision ends after certain payment criteria have been met. With respect to these loans, repurchase could be required if defined delinquency issues arose during the limited recourse period. Given that the underlying loans delivered to buyers are predominantly conventional first lien mortgages and that historical experience shows negligible losses and insignificant repurchase activity, management believes that losses and repurchases under the limited recourse provisions will continue to be insignificant.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	17) Fair Values Measurements ASC Topic 820, "Fair Value Measurements and Disclosures" defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This accounting standard applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements. The standard also emphasizes that fair value (i.e., the price that would be received in an orderly transaction that is not a forced liquidation or distressed sale at the measurement date), among other things, is based on exit price versus entry price, should include assumptions about risk such as nonperformance risk in liability fair values, and is a market-based measurement, not an entity-specific measurement. When considering the assumptions that market participants would use in pricing the asset or liability, this accounting standard establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The fair value hierarchy prioritizes inputs used to measure fair value into three broad levels. Level 1 inputs Level 2 inputs Level 3 inputs In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2015 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 96,667 - 96,667 - Collateralized mortgage obligations Government sponsored enterprise issued 70,428 - 70,428 - Government sponsored enterprise bonds 3,746 - 3,746 - Municipal securities 79,159 - 79,159 - Other debt securities 16,963 2,600 14,363 - Certificates of deposit 2,695 - 2,695 - Loans held for sale 166,516 - 166,516 - Mortgage banking derivative assets 2,313 - - 2,313 Mortgage banking derivative liabilities 125 - - 125 Fair Value Measurements Using December 31, 2014 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 117,128 - 117,128 - Collateralized mortgage obligations Government sponsored enterprise issued 59,071 - 59,071 - Government sponsored enterprise bonds 6,711 - 6,711 - Municipal securities 77,108 - 77,108 - Other debt securities 7,528 2,550 4,978 - Certificates of deposit 5,897 - 5,897 - Loans held for sale 125,073 - 125,073 - Mortgage banking derivative assets 1,644 - - 1,644 Mortgage banking derivative liabilities 645 - - 645 The following summarizes the valuation techniques for assets recorded in our consolidated statements of financial condition at their fair value on a recurring basis: Available for sale securities – The Company's investment securities classified as available for sale include: mortgage-backed securities, collateralized mortgage obligations, government sponsored enterprise bonds, municipal securities and other debt securities. The fair value of mortgage-backed securities, collateralized mortgage obligations and government sponsored enterprise bonds are determined by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities, prepayment models and bid/offer market data. For securities with an early redemption feature, an option adjusted spread model is utilized to adjust the issuer spread. These model and matrix measurements are classified as Level 2 and Level 3 in the fair value hierarchy. The fair value of municipal securities is determined by a third party valuation source using observable market data utilizing a multi-dimensional relational pricing model. Standard inputs to this model include observable market data such as benchmark yields, reported trades, broker quotes, rating updates and issuer spreads. These model measurements are classified as Level 2 in the fair value hierarchy. The fair value of other debt securities, which includes a trust preferred security issued by a financial institution and corporate bonds. The fair value of the trust preferred security is determined through quoted prices in active markets and is classified as Level 1 in the fair value hierarchy. The corporate bond is valued by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities, prepayment models and bid/offer market data. Loans held for sale – The Company carries loans held for sale at fair value under the fair value option model. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the secondary market, principally from observable prices for forward sale commitments. Loans held-for-sale are considered to be Level 2 in the fair value hierarchy of valuation techniques. Mortgage banking derivatives - Mortgage banking derivatives include interest rate lock commitments to originate residential loans held for sale to individual customers and forward commitments to sell residential mortgage loans to various investors. The Company utilizes a valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale, which includes applying a pull through rate based upon historical experience and the current interest rate environment and then multiplying by quoted investor prices. The Company also utilizes a valuation model to estimate the fair value of its forward commitments to sell residential loans, which includes matching specific terms and maturities of the forward commitments against applicable investor pricing available. While there are Level 2 and 3 inputs used in the valuation models, the Company has determined that one or more of the inputs significant in the valuation of both of the mortgage banking derivatives fall within Level 3 of the fair value hierarchy. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2015 and 2014. Mortgage banking derivatives, net Balance at December 31, 2013 $ 1,189 Transfer into level 3 - Mortgage derivative gain, net (190 ) Balance at December 31, 2014 999 Transfer into level 3 - Mortgage derivative gain, net 1,189 Balance at December 31, 2015 $ 2,188 Assets Recorded at Fair Value on a Non-recurring Basis The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of December 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2015 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 8,024 - - 8,024 Real estate owned 9,190 - - 9,190 Fair Value Measurements Using December 31, 2014 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 18,758 - - 18,758 Real estate owned 18,706 - - 18,706 Mortgage servicing rights 9 - - 9 _________ (1) Loans – We do not record loans at fair value on a recurring basis. On a non-recurring basis, loans determined to be impaired are analyzed to determine whether a collateral shortfall exists, and if such a shortfall exists, are recorded on our consolidated statements of financial condition at net realizable value of the underlying collateral. Fair value is determined based on third party appraisals. Appraised values are adjusted to consider disposition costs and also to take into consideration the age of the most recent appraisal. Given the significance of the adjustments made to appraised values necessary to estimate the fair value of impaired loans, loans that have been deemed to be impaired are considered to be Level 3 in the fair value hierarchy of valuation techniques. At December 31, 2015, loans determined to be impaired with an outstanding balance of $9.6 million were carried net of specific reserves of $1.6 million for a fair value of $8.0 million. At December 31, 2014, loans determined to be impaired with an outstanding balance of $22.5 million were carried net of specific reserves of $3.7 million for a fair value of $18.8 million. Impaired loans collateralized by assets which are valued in excess of the net investment in the loan do not require any specific reserves. Real estate owned – On a non-recurring basis, real estate owned, is recorded in our consolidated statements of financial condition at the lower of cost or fair value. Fair value is determined based on third party appraisals and, if less than the carrying value of the foreclosed loan, the carrying value of the real estate owned is adjusted to the fair value. Appraised values are adjusted to consider disposition costs and also to take into consideration the age of the most recent appraisal. Given the significance of the adjustments made to appraised values necessary to estimate the fair value of the properties, real estate owned is considered to be Level 3 in the fair value hierarchy of valuation techniques. Changes in the fair value of real estate owned totaled $2.2 million and $1.5 million during the year ended December 31, 2015 and 2014, respectively and are recorded in real estate owned expense. At December 31, 2015 and December 31, 2014, real estate owned totaled $9.2 million and $18.7 million, respectively. Mortgage servicing rights - The Company utilizes an independent valuation from a third party which uses a discounted cash flow model to estimate the fair value of mortgage servicing rights. The model utilizes prepayment assumptions to project cash flows related to the mortgage servicing rights based upon the current interest rate environment, which is then discounted to estimate an expected fair value of the mortgage servicing rights. The model considers characteristics specific to the underlying mortgage portfolio, such as: contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges and costs to service. Given the significance of the unobservable inputs utilized in the estimation process, mortgage servicing rights are classified as Level 3 within the fair value hierarchy. The Company records the mortgage servicing rights at the lower of amortized cost or fair value. For the purpose of measuring impairment, mortgage servicing rights are stratified based upon predominant risk characteristics of the underlying loans. At December 31, 2015, there was no impairment identified for mortgage servicing rights. At December 31, 2014, the Company determined that the mortgage servicing rights were partially impaired, and as a result, recorded an impairment valuation allowance of $10,000. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at Significant Significant Unobservable Input Value December 31, 2015 Valuation Technique Unobservable Inputs Minimum Value Maximum Value Mortgage banking derivatives $ 2,188 Pricing models Pull through rate 50.0 % 100.0 % Impaired loans 8,024 Market approach Discount rates applied to appraisals 15.0 % 35.0 % Real estate owned 9,190 Market approach Discount rates applied to appraisals 0.0 % 85.7 % Mortgage servicing rights 1,658 Pricing models Prepayment rate 7.5 % 27.1 % Discount rate 10.0 % 11.0 % Cost to service $ 76.36 $ 339.90 ___________ The significant unobservable input used in the fair value measurement of the Company's mortgage banking derivatives, including interest rate lock commitments, is the loan pull through rate. This represents the percentage of loans currently in a lock position which the Company estimates will ultimately close. Generally, the fair value of an interest rate lock commitment will be positively (negatively) impacted when the prevailing interest rate is lower (higher) than the interest rate lock commitment. Generally, an increase in the pull through rate will result in the fair value of the interest rate lock increasing when in a gain position, or decreasing when in a loss position. The pull through rate is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock. The pull through rate is computed using historical data and the ratio is periodically reviewed by the Company. The significant unobservable inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and real estate owned included in the above table primarily relate to discounting criteria applied to independent appraisals received with respect to the collateral. Discounts applied to the appraisals are dependent on the vintage of the appraisal as well as the marketability of the property. The discount factor is computed using actual realization rates on properties that have been foreclosed upon and liquidated in the open market. The significant unobservable inputs used in the fair value measurement or mortgage servicing rights include the prepayment rate, discount rate and cost to service. The prepayment rate represents the assumed rate of prepayment of the outstanding principal balance of the underlying mortgage notes. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the prepayment rate and discount rate are not directly interrelated, they will generally move in opposite directions. Fair value information about financial instruments follows, whether or not recognized in the consolidated statements of financial condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments are excluded from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and fair values of the Company's financial instruments consist of the following at December 31, 2015 and December 31, 2014: December 31, 2015 December 31, 2014 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 100,471 100,471 100,471 - - 172,820 172,820 167,370 5,450 - Securities available-for-sale 269,658 269,658 2,600 267,058 - 273,443 273,443 2,550 270,893 - Loans held for sale 166,516 166,516 - 166,516 - 125,073 125,073 - 125,073 - Loans receivable 1,114,934 1,165,370 - - 1,165,370 1,094,990 1,184,398 - - 1,184,398 FHLB stock 19,500 19,500 - 19,500 - 17,500 17,500 - 17,500 - Accrued interest receivable 4,108 4,108 4,108 - - 4,029 4,029 4,029 - - Mortgage servicing rights 1,422 1,658 - - 1,658 2,511 2,808 - - 2,808 Mortgage banking derivative assets 2,313 2,313 - - 2,313 1,644 1,644 - - 1,644 Financial Liabilities Deposits 893,361 894,015 243,304 650,711 - 863,960 866,173 211,325 654,848 - Advance payments by borrowers for taxes 3,661 3,661 3,661 - - 4,991 4,991 4,991 - - Borrowings 441,203 463,238 - 463,238 - 434,000 459,484 - 459,484 - Accrued interest payable 1,642 1,642 1,642 - - 1,600 1,600 1,600 - - Mortgage banking derivative liabilities 125 125 - - 125 645 645 - - 645 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following methods and assumptions were used by the Company in determining its fair value disclosures for financial instruments. Cash and Cash Equivalents The carrying amount reported in the consolidated statements of financial condition for cash and cash equivalents is a reasonable estimate of fair value for these short-term instruments. Securities The fair value of securities is determined by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities and bid/offer market data. For securities with an early redemption feature, an option adjusted spread model is utilized to adjust the issuer spread. Prepayment models are used for mortgage related securities with prepayment features. Loans Held for Sale Fair value is estimated using the prices of the Company's existing commitments to sell such loans and/or the quoted market price for commitments to sell similar loans. Loans Receivable Loans determined to be impaired are analyzed to determine whether a collateral shortfall exists, and if such a shortfall exists, are recorded on our consolidated statements of financial condition at fair value. Fair value is determined based on third party appraisals. Appraised values are adjusted to consider disposition costs and also to take into consideration the age of the most recent appraisal. With respect to loans that are not considered to be impaired, fair value is estimated by discounting the future contractual cash flows using discount rates that that reflect a current rate offered to borrowers of similar credit standing for the remaining term to maturity. This method of estimating fair value does not incorporate the exit-price concept of fair value prescribed by ASC 820-10 and generally produces a higher fair value. FHLB Stock For FHLB stock, the carrying amount is the amount at which shares can be redeemed with the FHLB and is a reasonable estimate of fair value. Deposits and Advance Payments by Borrowers for Taxes The fair values for interest-bearing and noninterest-bearing negotiable order of withdrawal accounts, savings accounts, and money market accounts are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates of similar remaining maturities to a schedule of aggregated expected monthly maturities of the outstanding certificates of deposit. The advance payments by borrowers for taxes are equal to their carrying amounts at the reporting date. Borrowings Fair values for borrowings are estimated using a discounted cash flow calculation that applies current interest rates to estimated future cash flows of the borrowings. Accrued Interest Payable and Accrued Interest Receivable For accrued interest payable and accrued interest receivable, the carrying amount is a reasonable estimate of fair value. Mortgage Banking Derivative Assets and Liabilities Mortgage banking derivatives include interest rate lock commitments to originate residential loans held for sale to individual customers and forward commitments to sell residential mortgage loans to various investors. The Company relies on a valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale, which includes applying a pull through rate based upon historical experience and the current interest rate environment, and then multiplying by quoted investor prices. The Company also relies on a valuation model to estimate the fair value of its forward commitments to sell residential loans, which includes matching specific terms and maturities of the forward commitments against applicable investor pricing available. On the Company's Consolidated Statements of Condition, instruments that have a positive fair value are included in prepaid expenses and other assets, and those instruments that have a negative fair value are included in other liabilities. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2015
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	18) Earnings Per Share Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Participating securities include unvested restricted stock awards. Unvested restricted stock awards issued in 2012 are considered participating securities because holders of these securities have the right to receive dividends at the same rate as holders of the Company's common stock. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. For the year ended December 31, 2015 2014 2013 (In Thousands, except per share amounts) Net income 16,570 12,732 14,708 Net income available to unvested restricted stockholders 19 19 38 Net income available to common stockholders $ 16,551 12,713 14,670 Weighted average shares outstanding 29,161 33,406 34,185 Effect of dilutive potential common shares 270 237 254 Diluted weighted average shares outstanding 29,431 33,643 34,439 Basic income per share $ 0.57 0.38 0.43 Diluted income per share $ 0.56 0.38 0.43

Condensed Parent Company Only S

Condensed Parent Company Only Statements	12 Months Ended
	Dec. 31, 2015
Condensed Parent Company Only Statements [Abstract]
Condensed Parent Company Only Statements	19) Condensed Parent Company Only Statements Statements of Financial Condition December 31, 2015 2014 (In Thousands) Assets Cash and cash equivalents $ 30,833 101,637 Securities available for sale (at fair value) 2,600 2,550 Investment in subsidiaries 359,191 345,234 Other assets 904 2,596 Total Assets $ 393,528 452,017 Liabilities and shareholders' equity Liabilities: Other liabilities 1,598 1,780 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2015 and 2014, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2015 and in 2014, Issued - 29,407,455 in 2015 and 34,420,094 in 2014, Outstanding - 29,407,455 in 2015 and 34,420,094 in 2014 294 344 Additional paid-in-capital 317,022 313,894 Retained earnings 168,089 157,304 Unearned ESOP shares (21,365 ) (22,552 ) Cost of shares repurchased (5,624,415 in 2015 and 0 in 2014), at cost (72,692 ) - Accumulated other comprehensive income (net of taxes) 582 1,247 Total shareholders' equity 391,930 450,237 Total liabilities and shareholders' equity $ 393,528 452,017 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Statements of Operations For the year ended December 31, 2015 2014 2013 (In Thousands) Interest income $ 770 1,078 586 Equity in income of subsidiaries 16,513 12,431 14,468 Total income 17,283 13,509 15,054 Compensation - 52 (118 ) Professional fees 24 2 16 Other expense 586 370 287 Total expense 610 424 185 Income before income tax expense 16,673 13,085 14,869 Income tax expense 103 353 161 Net income $ 16,570 12,732 14,708 Statements of Cash Flows For the year ended December 31, 2015 2014 2013 (In Thousands) Cash flows from operating activities Net income $ 16,570 12,732 14,708 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of unearned ESOP 1,385 1,217 718 Stock based compensation 2,817 109 126 Deferred income taxes 49 80 (21 ) Equity in earnings of subsidiaries (16,513 ) (12,431 ) (14,468 ) Change in other assets and liabilities (1,286 ) 599 (1,051 ) Net cash provided by operating activities 3,022 2,306 12 Cash flows used in investing activities: Capital contributions to subsidiary - (124,211 ) - Call of debt securities - 2,609 - Net cash used in investing activities - (121,602 ) - Dividends received from subsidiary 4,678 - - Cash dividends on common stock (5,869 ) (5,003 ) - Financing for purchase of ESOP shares - (22,884 ) - Proceeds from stock option exercises 113 49 - Proceeds/refunds from stock offering - 248,422 - Purchase of common stock returned to authorized but unissued (72,748 ) - - Net cash (used in) provided by financing activities (73,826 ) 220,584 - Net (decrease) increase in cash (70,804 ) 101,288 12 Cash and cash equivalents at beginning of year 101,637 349 337 Cash and cash equivalents at end of year $ 30,833 101,637 349

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2015
Segments and Related Information [Abstract]
Segments and Related Information	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 20) Segment Reporting Selected financial and descriptive information is required to be provided about reportable operating segments, considering a "management approach" concept as the basis for identifying reportable segments. The management approach is based on the way that management organizes the segments within the enterprise for making operating decisions, allocating resources, and assessing performance. Consequently, the segments are evident from the structure of the enterprise's internal organization, focusing on financial information that an enterprise's chief operating decision-makers use to make decisions about the enterprise's operating matters. The Company has determined that it has two reportable segments: community banking and mortgage banking. The Company's operating segments are presented based on its management structure and management accounting practices. The structure and practices are specific to the Company and therefore, the financial results of the Company's business segments are not necessarily comparable with similar information for other financial institutions. Community Banking The Community Banking segment provides consumer and business banking products and services to customers primarily within Southeastern Wisconsin along with a loan production office in Minneapolis, Minnesota. Within this segment, the following products and services are provided: (1) lending solutions such as residential mortgages, home equity loans and lines of credit, personal and installment loans, real estate financing, business loans, and business lines of credit; (2) deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay, and money transfer services; (3) investable funds solutions such as savings, money market deposit accounts, IRA accounts, certificates of deposit, and (4) fixed and variable annuities, insurance as well as trust and investment management accounts. Consumer products include loan and deposit products: mortgage, home equity loans and lines, personal term loans, demand deposit accounts, interest bearing transaction accounts and time deposits. Consumer products also include personal investment services. Business banking products include secured and unsecured lines and term loans for working capital, inventory and general corporate use, commercial real estate construction loans, demand deposit accounts, interest bearing transaction accounts and time deposits. Mortgage Banking The Mortgage Banking segment provides residential mortgage loans for the primary purpose of sale on the secondary market. Mortgage banking products and services are provided by offices in 18 states. As of or for the Year ended December 31, 2015 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 37,735 759 350 38,844 Provision for loan losses 1,600 365 - 1,965 Net interest income after provision for loan losses 36,135 394 350 36,879 Noninterest income 3,493 101,499 (518 ) 104,474 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 16,462 65,712 (421 ) 81,753 Occupancy, office furniture, and equipment 3,278 6,009 - 9,287 FDIC insurance premiums 1,058 - - 1,058 Real estate owned 2,649 15 - 2,664 Other 4,512 16,169 91 20,772 Total noninterest expenses 27,959 87,905 (330 ) 115,534 Income before income taxes 11,669 13,988 162 25,819 Income taxes 3,419 5,727 103 9,249 Net income $ 8,250 8,261 59 16,570 Total Assets $ 1,729,582 188,324 (155,177 ) 1,762,729 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 As of or for the Year ended December 31, 2014 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 39,591 1,051 665 41,307 Provision for loan losses 750 400 - 1,150 Net interest income after provision for loan losses 38,841 651 665 40,157 Noninterest income 3,264 81,710 (406 ) 84,568 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 14,915 54,626 (369 ) 69,172 Occupancy, office furniture and equipment 3,350 7,019 - 10,369 FDIC insurance premiums 1,395 - - 1,395 Real estate owned 2,473 9 - 2,482 Other 4,819 16,616 (35 ) 21,400 Total noninterest expenses 26,952 78,270 (404 ) 104,818 Income before income taxes 15,153 4,091 663 19,907 Income taxes 5,173 1,649 353 7,175 Net income $ 9,980 2,442 310 12,732 Total Assets $ 1,758,707 145,980 (121,307 ) 1,783,380 As of or for the Year ended December 31, 2013 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 38,148 557 501 39,206 Provision for loan losses 4,472 60 - 4,532 Net interest income after provision for loan losses 33,676 497 501 34,674 Noninterest income 3,134 84,879 (214 ) 87,799 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 13,526 55,484 (203 ) 68,807 Occupancy, office furniture and equipment 3,052 5,194 (81 ) 8,165 FDIC insurance premiums 1,986 - - 1,986 Real estate owned 255 - - 255 Other 4,197 15,565 169 19,931 Total noninterest expenses 23,016 76,243 (115 ) 99,144 Income before income taxes 13,794 9,133 402 23,329 Income taxes 4,777 3,682 162 8,621 Net income $ 9,017 5,451 240 14,708 Total Assets $ 1,895,833 119,401 (68,195 ) 1,947,039

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Organization	(a) Plan of Conversion and Reorganization On June 6, 2013, the Board of Directors of Lamplighter Financial, MHC ("MHC") and the Board of Directors of Waterstone Financial, Inc., a federal corporation, ("Waterstone-Federal") adopted a Plan of Conversion and Reorganization (the "Plan"). Pursuant to the Plan, Waterstone Financial, Inc., a Maryland corporation, ("New Waterstone") was organized and the MHC converted from the mutual holding company form of organization to the fully public form on January 22, 2014. As part of the conversion, the MHC's ownership interest of Waterstone-Federal was offered for sale in a public offering. A total of 25,300,000 shares were sold in the offering at a price $10.00 per share, resulting in gross proceeds of $253.0 million. Expenses related to the offering totaled approximately $4.7 million. The existing publicly held shares of Waterstone-Federal were exchanged for new shares of common stock of New Waterstone at a conversion ratio of 1.0973-to-one. The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of Waterstone-Federal owned the same aggregate percentage of New Waterstone common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares). When the conversion and public offering was completed, New Waterstone became the holding company of WaterStone Bank SSB and succeeded to all of the business and operations of Waterstone-Federal and each of Waterstone-Federal and Lamplighter Financial, MHC ceased to exist. A total of 34,405,458 shares of New Waterstone common stock were outstanding after the completion of the offering and exchange. The Plan provided for the establishment of special "liquidation accounts" for the benefit of certain depositors of WaterStone Bank in an amount equal to the greater of the MHC's ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus or the retained earnings of WaterStone Bank at the time it reorganized into the MHC. Following the completion of the conversion, under the rules of the Board of Governors of the Federal Reserve System, WaterStone Bank is not permitted to pay dividends on its capital stock to Waterstone Financial, Inc., its sole shareholder, if WaterStone Bank's shareholder's equity would be reduced below the amount of the liquidation accounts. The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder's interest in the liquidation accounts. Share and per share amounts have been restated to reflect the completion of our second-step conversion on January 22, 2014 at a conversion ratio of 1.0973 unless noted otherwise. New Waterstone did not engage in any business prior to the completion of the mutual-to-stock conversion of Lamplighter Financial, MHC on January 22, 2014. Consequently, these financial statements and footnotes reflect the financial condition and operating results of Waterstone-Federal and its subsidiaries, including the Bank, until January 22, 2014, and of New Waterstone, and its subsidiaries, including the Bank, thereafter. The words "Waterstone Financial," "we" and "our" thus are intended to refer to Waterstone-Federal and its subsidiaries with respect to matters and time periods occurring on or before January 22, 2014, and to New Waterstone and its subsidiaries with respect to matters and time periods occurring thereafter.
Nature of Operations	b) Nature of Operations The Company is a one-bank holding company with two operating segments – community banking and mortgage banking. The Bank is principally engaged in the business of attracting deposits from the general public and using such deposits to originate real estate, business and consumer loans. The Bank provides a full range of financial services to customers through branch locations in southeastern Wisconsin. In addition, the Bank has a loan production office in Minneapolis, Minnesota. The Bank is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The Bank owns a mortgage banking subsidiary that originates residential real estate loans held for sale at various branch offices across the country. Mortgage banking volume fluctuates widely given movements in interest rates. Mortgage banking income is reported as a single line item in the statements of operations while mortgage banking expense is distributed among the various noninterest expense lines. Compensation, payroll taxes and other employee benefits expense varies directly with mortgage banking income.
Principles of Consolidation	c) Principles of Consolidation The consolidated financial statements include the accounts and operations of Waterstone Financial, Inc. and its wholly owned subsidiary, WaterStone Bank. The Bank has the following wholly owned subsidiaries: Wauwatosa Investments, Inc., Waterstone Mortgage Corporation, and Main Street Real Estate Holdings, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	d) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include: the allowance for loan losses, income taxes, and fair value measurements. Actual results could differ from those estimates and the current economic environment has increased the degree of uncertainty inherent in those estimates and assumptions.
Cash and Cash Equivalents	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 e) Cash and Cash Equivalents The Company considers federal funds sold and highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents.
Securities	f) Securities Available for Sale Securities At the time of purchase, investment securities are classified as available for sale, as management has the intent and ability to hold such securities for an indefinite period of time, but not necessarily to maturity. Any decision to sell investment securities available for sale would be based on various factors, including, but not limited to asset/liability management strategies, changes in interest rates or prepayment risks, liquidity needs, or regulatory capital considerations. Available for sale securities are carried at fair value, with the unrealized gains and losses, net of deferred tax, reported as a separate component of equity, accumulated other comprehensive income. The cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities and collateralized mortgage obligations, over the estimated life of the security. Such amortization is included in interest income from securities. Realized gains or losses on securities sales (using specific identification method) are included in other income. Declines in value judged to be other than temporary are included in net impairment losses recognized in earnings in the consolidated statements of operations. Other Than Temporary Impairment One of the significant estimates related to securities is the evaluation of investments for other than temporary impairment. The Company assesses investment securities with unrealized loss positions for other than temporary impairment on at least a quarterly basis. When the fair value of an investment is less than its amortized cost at the balance sheet date of the reporting period for which impairment is assessed, the impairment is designated as either temporary or other than temporary. In evaluating other than temporary impairment, management considers the length of time and extent to which the fair value has been less than cost and the expected recovery period of the security, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of investment securities below amortized cost are deemed to be other than temporary when the Company cannot assert that it will recover its amortized cost basis, including whether the present value of cash flows expected to be collected is less than the amortized cost basis of the security. If it is more likely than not that the Company will be required to sell the security before recovery or if the Company has the intent to sell, an other than temporary impairment write down is recognized in earnings equal to the difference between the security's amortized cost and its fair value. If it is not more likely than not that the Company will be required to sell the security before recovery and if the Company does not intend to sell, the other than temporary impairment write down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to other factors, which is recognized as a separate component of equity. Following the recognition of an other than temporary impairment representing credit loss, the book value of an investment less the impairment loss realized becomes the new cost basis. Because the Company's assessments are based on factual information as well as subjective information available at the time of assessment, the determination as to whether an other than temporary impairment exists and, if so, the amount considered other than temporarily impaired, or not impaired, is subjective and, therefore, the timing and amount of other than temporary impairments constitute material estimates that are subject to significant change. Federal Home Loan Bank Stock Federal Home Loan Bank stock is carried at cost, which is the amount that the stock is redeemable by tendering to the FHLBC or the amount at which shares can be sold to other FHLBC members.
Loans Held for Sale	g) Loans Held for Sale The origination of residential real estate loans is an integral component of the business of the Company. The Company generally sells its originations of long-term fixed interest rate mortgage loans in the secondary market, and on a selective basis, retains the rights to service the loans sold. Gains and losses on the sales of these loans are determined using the specific identification method. Mortgage loans originated for sale are generally sold within 45 days after closing. The Company has elected to carry loans held for sale at fair value. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the market. The amount by which cost differs from market value is accounted for as a valuation adjustment to the carrying value of the loans. Changes in value are included in mortgage banking income in the consolidated statements of operations. Costs to originate loans held for sale are expensed as incurred and are included on the appropriate noninterest expense lines of the statements of operations. Salaries, commissions and related payroll taxes are the primary costs to originate and comprise approximately 74.8 % of total mortgage banking noninterest expense. The value of mortgage loans held for sale and other residential mortgage loan commitments to customers are hedged by utilizing both best efforts and mandatory forward commitments to sell loans to investors in the secondary market. Such forward commitments are generally entered into at the time when applications are taken to protect the value of the mortgage loans from increases in market interest rates during the period held. The Corporation recognizes revenue associated with the expected future cash flows of servicing loans at the time a forward loan commitment is made, as required under Securities and Exchange Commission Staff Accounting Bulletin No. 109, Written Loan Commitments Recorded at Fair Value Through Earnings.
Loans Receivable and Related Interest Income	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 h) Loans Receivable and Related Interest Income Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income, charge-offs and unamortized deferred fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of the related loan yield. Amortization is based on a level-yield method over the contractual life of the related loans or until the loan is paid in full. Loan interest income is recognized on the accrual basis. Accrual of interest is generally discontinued either when reasonable doubt exists as to the full, timely collection of interest or principal, or when a loan becomes contractually past due more than 90 days with respect to interest or principal. At that time, previously accrued and uncollected interest on such loans is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. A loan is accounted for as a troubled debt restructuring if the Company, for economic reasons related to the borrower's financial condition, grants a concession to the borrower that it would not otherwise consider. A troubled debt restructuring typically involves a modification of terms such as a reduction of the stated interest rate, a deferral of principal payments or a combination of both for a temporary period of time. If the borrower was performing in accordance with the original contractual terms at the time of the restructuring, the restructured loan is accounted for on an accruing basis as long as the borrower continues to comply with the modified terms. If the loan was not accounted for on an accrual basis at the time of restructuring, the restructured loan remains in non-accrual status until the loan completes a minimum of six consecutive contractual payments.
Allowance for Loan Losses	i) Allowance for Loan Losses The allowance for loan losses is presented as a reserve against loans and represents the Bank's assessment of probable loan losses inherent in the loan portfolio. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Estimated loan losses are charged against the allowance when the loan balance is confirmed to be uncollectible directly or indirectly by the borrower or upon initiation of a foreclosure action by the Bank. Subsequent recoveries, if any, are credited to the allowance as long as it is within 90 days of being transferred to real estate owned. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent in the loan portfolio, but have not been specifically identified. The Bank utilizes its own loss history to estimate inherent losses on loans. Although the Bank allocates portions of the allowance to specific loans and loan types, the entire allowance is available for any loan losses that occur. The Bank evaluates the need for specific valuation allowances on loans that are considered impaired. A loan is considered impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Within the loan portfolio, all non-accrual loans and loans modified under troubled debt restructurings have been determined by the Bank to meet the definition of an impaired loan. In addition, other one- to four-family, over four-family, construction and land, commercial real estate and commercial loans may be considered impaired loans. A valuation allowance is established for an amount equal to the impairment when the carrying amount of the loan exceeds the present value of the expected future cash flows, discounted at the loan's original effective interest rate or the fair value of the underlying collateral. The Bank also establishes valuation allowances based on an evaluation of the various risk components that are inherent in the loan portfolio. The risk components that are evaluated include past loan loss experience; the level of non-performing and classified assets; current economic conditions; volume, growth, and composition of the loan portfolio; adverse situations that may affect the borrower's ability to repay; the estimated value of any underlying collateral; regulatory guidance; and other relevant factors. The appropriateness of the allowance for loan losses is approved quarterly by the Bank's board of directors. The allowance reflects management's best estimate of the amount needed to provide for the probable loss on impaired loans, as well as other credit risks of the Bank, and is based on a risk model developed and implemented by management and approved by the Bank's board of directors. Actual results could differ from this estimate, and future additions to the allowance may be necessary based on unforeseen changes in economic conditions. In addition, federal regulators periodically review the Bank's allowance for loan losses. Such regulators have the authority to require the Bank to recognize additions to the allowance at the time of their examination.
Real Estate Owned	j) Real Estate Owned Real estate owned consists of properties acquired through, or in lieu of, loan foreclosure. Real estate owned is transferred into the portfolio at estimated net realizable value. To the extent that the net carrying value of the loan exceeds the estimated fair value of the property at the date of transfer, the excess is charged to the allowance for loan losses within 90 days of being transferred. Subsequent write-downs to reflect current fair market value, as well as gains and losses upon disposition and revenue and expenses incurred in maintaining such properties, are treated as period costs and included in real estate owned in the consolidated statements of operations.
Mortgage Servicing Rights	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 k) Mortgage Servicing Rights The Company sells residential mortgage loans in the secondary market and, on a selective basis, retains the right to service the loans sold. Upon sale, a mortgage servicing rights asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. Mortgage servicing rights, when purchased, are initially recorded at fair value. Mortgage servicing rights are amortized over the period of estimated net servicing income, and assessed for impairment at each reporting date. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets, net in the consolidated balance sheets. To the extent that the Company sells mortgage servicing rights, a gain is recognized for the amount of which sale proceeds exceed the remaining unamortized cost of the servicing rights that were sold. Gains on sale of mortgage serving rights are included in other noninterest income in the consolidated statements of operations.
Cash Surrender Value of Life Insurance	l) Cash Surrender Value of Life Insurance The Company purchased bank owned life insurance on the lives of certain employees. The Company is the beneficiary of the life insurance policies. The cash surrender value of life insurance is reported at the amount that would be received in cash if the polices were surrendered. Increases in the cash value of the policies and proceeds of death benefits received are recorded in non-interest income. The increase in cash surrender value of life insurance is not subject to income taxes, as long as the Company has the intent and ability to hold the policies until the death benefits are received.
Office Properties and Equipment	m) Office Properties and Equipment Office properties and equipment, including leasehold improvements and software, are stated at cost, net of depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term, if shorter than the estimated useful life. Maintenance and repairs are charged to expense as incurred, while additions or major improvements are capitalized and depreciated over their estimated useful lives. Estimated useful lives of the assets are 10 to 30 years for office properties, 3 to 10 years for equipment, and 3 years for software. Rent expense related to long-term operating leases is recorded on the accrual basis.
Income Taxes	n) Income Taxes The Company and its subsidiaries file consolidated federal and combined state income tax returns. The provision for income taxes is based upon income in the consolidated financial statements, rather than amounts reported on the income tax returns. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. Under generally accepted accounting principles, a valuation allowance is required to be recognized if it is "more likely than not" that a deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management's evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Positions taken in the Company's tax returns may be subject to challenge by the taxing authorities upon examination. The benefit of uncertain tax positions are initially recognized in the financial statements only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement.
Earnings Per Share	o) Earnings Per Share Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Shares of the Employee Stock Ownership Plan committed to be released are considered outstanding for both common and diluted EPS. Incentive stock compensation awards granted can result in dilution.
Other Comprehensive Income	p) Comprehensive Income Comprehensive income is the total of reported net income and changes in unrealized gains or losses, net of tax, on securities available for sale.
Employee Stock Ownership Plan (ESOP)	q) Employee Stock Ownership Plan (ESOP) Compensation expense under the ESOP is equal to the fair value of common shares released or committed to be released to participants in the ESOP in each respective period. Common stock purchased by the ESOP and not committed to be released to participants is included in the consolidated statements of financial condition at cost as a reduction of shareholders' equity.
Impact of Recent Accounting Pronouncements	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 r) Impact of Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The ASU is a converged standard between the FASB and the IASB that provides a single comprehensive revenue recognition model for all contracts with customers across transactions and industries. The primary objective of the ASU is revenue recognition that represents the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU is effective for interim and annual reporting periods beginning after December 15, 2017. The Company is in the process of evaluating the impact of this standard to its results of operations, financial position, and liquidity. In June 2014, the FASB also issued ASU No. 2014-12, "Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period." This ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in estimating the grant-date fair value of the award. This ASU is effective for interim and annual reporting periods beginning after December 15, 2015 with earlier adoption permitted. The adoption of this standard is not expected to have a material impact to the Company's consolidated financial position or results of operations. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This Update applies to all entities that hold financial assets or owe financial liabilities and is intended to provide more useful information on the recognition, measurement, presentation, and disclosure of financial instruments. Among other things, this Update (a) requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (b) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; (c) eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities; (d) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (e) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (f) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (g) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; and (h) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities including not-for-profit entities and employee benefit plans within the scope of Topics 960 through 965 on plan accounting, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. All entities that are not public business entities may adopt the amendments in this Update earlier as of the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company's financial position or results of operations.

Securities (Policies)

Securities (Policies)	12 Months Ended
	Dec. 31, 2015
Securities [Abstract]
Impairment of investment securities	The Company reviews the investment securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. In evaluating whether a security's decline in market value is other-than-temporary, management considers the length of time and extent to which the fair value has been less than cost, financial condition of the issuer and the underlying obligors, quality of credit enhancements, volatility of the fair value of the security, the expected recovery period of the security and ratings agency evaluations. In addition the Company may also evaluate payment structure, whether there are defaulted payments or expected defaults, prepayment speeds and the value of any underlying collateral.

Derivative Financial Instrume31

Derivative Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2015
Derivative Financial Instruments [Abstract]
Derivative financial instruments	In connection with its mortgage banking activities, the Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Mortgage banking derivatives include interest rate lock commitments provided to customers to fund mortgage loans to be sold in the secondary market and forward commitments for the future delivery of such loans. It is the Company's practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company's mortgage banking derivatives have not been designated as being a hedge relationship. These instruments are used to manage the Company's exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company does not use derivatives for speculative purposes. Forward commitments to sell mortgage loans represent commitments obtained by the Company from a secondary market agency to purchase mortgages from the Company at specified interest rates and within specified periods of time. Commitments to sell loans are made to mitigate interest rate risk on interest rate lock commitments to originate loans and loans held for sale. At December 31, 2015, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $285.0 million and interest rate lock commitments with an aggregate notional amount of approximately $150.3 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2015 included a loss of $125,000 that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2015 included a gain of $2.3 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated when the loan arising from exercise of the loan commitment is sold in the secondary mortgage market. That value includes the price that the loan is expected to be sold for in the secondary mortgage market. The fair value of these commitments is recorded on the consolidated statements of financial condition with the changes in fair value recorded as a component of mortgage banking income. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages. The Company's agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold related to credit information, loan documentation and collateral, which if subsequently are untrue or breached, could require the Company to repurchase certain loans affected. The Company has only been required to make insignificant repurchases as a result of its representations and warranties. The Company's agreements to sell residential mortgage loans also contain limited recourse provisions. The recourse provisions are limited in that the recourse provision ends after certain payment criteria have been met. With respect to these loans, repurchase could be required if defined delinquency issues arose during the limited recourse period. Given that the underlying loans delivered to buyers are predominantly conventional first lien mortgages and that historical experience shows negligible losses and insignificant repurchase activity, management believes that losses and repurchases under the limited recourse provisions will continue to be insignificant.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Securities [Abstract]
Amortized cost and fair values of investment in securities available for sale	The amortized cost and fair value of the Company's investment in securities follow: December 31, 2015 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 95,911 1,004 (248 ) 96,667 Collateralized mortgage obligations Government sponsored enterprise issued 70,605 123 (300 ) 70,428 Mortgage related securities 166,516 1,127 (548 ) 167,095 Government sponsored enterprise bonds 3,750 – (4 ) 3,746 Municipal securities 77,509 1,730 (80 ) 79,159 Other debt securities 17,401 209 (647 ) 16,963 Debt securities 98,660 1,939 (731 ) 99,868 Certificates of deposit 2,695 4 (4 ) 2,695 $ 267,871 3,070 (1,283 ) 269,658 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 115,670 1,582 (124 ) 117,128 Collateralized mortgage obligations Government sponsored enterprise issued 58,821 320 (70 ) 59,071 Mortgage related securities 174,491 1,902 (194 ) 176,199 Government sponsored enterprise bonds 6,750 2 (41 ) 6,711 Municipal securities 76,037 1,442 (371 ) 77,108 Other debt securities 7,404 159 (35 ) 7,528 Debt securities 90,191 1,603 (447 ) 91,347 Certificates of deposit 5,880 17 - 5,897 $ 270,562 3,522 (641 ) 273,443
Amortized cost and fair values of investment securities by contractual maturity	The amortized cost and fair value of securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers or borrowers may have the right to prepay obligations with or without prepayment penalties. December 31, 2015 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 12,914 12,951 Due after one year through five years 17,157 17,210 Due after five years through ten years 44,647 45,628 Due after ten years 26,637 26,774 Mortgage-related securities 166,516 167,095 $ 267,871 269,658
Total proceeds and gross gains and losses from sales of investment securities available for sale	Total proceeds and gross gains and losses from sales of investment securities available for sale for each of periods listed below. December 31, 2015 2014 2013 (In Thousands) Gross gains $ 44 - 6 Gross losses - - (15 ) Gains on sale of investment securities, net $ 44 - (9 ) Proceeds from sales of investment securities $ 1,034 - 921
Fair value and gross unrealized losses on securities available for sale and in a continuous unrealized loss position	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: December 31, 2015 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 18,488 (163 ) 5,577 (85 ) 24,065 (248 ) Collateralized mortgage obligations Government sponsored enterprise issued 48,281 (300 ) - - 48,281 (300 ) Government sponsored enterprise bonds 3,246 (4 ) - - 3,246 (4 ) Municipal securities 9,409 (18 ) 5,555 (62 ) 14,964 (80 ) Other debt securities 14,363 (647 ) - - 14,363 (647 ) Certificates of deposit 976 (4 ) - - 976 (4 ) $ 94,763 (1,136 ) 11,132 (147 ) 105,895 (1,283 ) December 31, 2014 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 10,537 (13 ) 12,489 (111 ) 23,026 (124 ) Collateralized mortgage obligations Government sponsored enterprise issued 23,131 (70 ) - - 23,131 (70 ) Government sponsored enterprise bonds 2,739 (11 ) 2,970 (30 ) 5,709 (41 ) Municipal securities 5,671 (19 ) 21,344 (352 ) 27,015 (371 ) Other debt securities 4,977 (35 ) - - 4,977 (35 ) Certificates of deposit 490 - - - 490 - $ 47,545 (148 ) 36,803 (493 ) 84,348 (641 )
Change in other-than-temporary credit related impairment charges on collateralized mortgage obligations for which a portion of OTTI related to other factors was recognized in other comprehensive loss	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents the change in other-than-temporary credit related impairment charges on municipal securities for which a portion of the other-than-temporary impairments related to other factors was recognized in other comprehensive loss. (in thousands) Credit-related impairments on securities as of December 31, 2013 $ 100 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized 17 Credit-related impairments on securities as of December 31, 2014 117 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2015 $ 117

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2015
Loan Receivable [Abstract]
Schedule of Components of Loans Receivable	Loans receivable at December 31, 2015 and 2014 are summarized as follows: December 31, 2015 2014 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 381,992 411,979 Multi family 547,250 522,281 Home equity 24,326 29,207 Construction and land 19,148 17,081 Commercial real estate 118,820 94,771 Consumer 361 200 Commercial loans 23,037 19,471 Total loans receivable $ 1,114,934 1,094,990
Analysis of Past Due Loans Receivable	An analysis of past due loans receivable as of December 31, 2015 and 2014 follows: As of December 31, 2015 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 851 1,133 6,503 8,487 373,505 381,992 Multi family - 207 1,858 2,065 545,185 547,250 Home equity 255 96 110 461 23,865 24,326 Construction and land - - 238 238 18,910 19,148 Commercial real estate 57 - 223 280 118,540 118,820 Consumer - - - - 361 361 Commercial loans - - - - 23,037 23,037 Total $ 1,163 1,436 8,932 11,531 1,103,403 1,114,934 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 As of December 31, 2014 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 3,767 3,743 12,196 19,706 392,273 411,979 Multi family 462 280 11,092 11,834 510,447 522,281 Home equity 268 153 250 671 28,536 29,207 Construction and land 90 - 362 452 16,629 17,081 Commercial real estate 225 - 947 1,172 93,599 94,771 Consumer - - - - 200 200 Commercial loans 34 - 265 299 19,172 19,471 Total $ 4,846 4,176 25,112 34,134 1,060,856 1,094,990 (1) Includes $315 and $1.6 million for December 31, 2015 and 2014, respectively, which are on non-accrual status. (2) Includes $467 and $795 for December 31, 2015 and 2014, respectively, which are on non-accrual status. (3) Includes $7.9 million and $10.5 million for December 31, 2015 and 2014, respectively, which are on non-accrual status.
Allowance for Loan Losses	One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Year ended December 31, 2015 Balance at beginning of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Provision for loan losses 1,092 931 (27 ) 243 (266 ) (1 ) (7 ) 1,965 Charge-offs (3,855 ) (2,281 ) (72 ) (84 ) (45 ) (3 ) - (6,340 ) Recoveries 649 992 110 58 40 5 - 1,854 Balance at end of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Year ended December 31, 2014 Balance at beginning of period $ 11,549 7,211 1,807 1,613 1,402 34 648 24,264 Provision for loan losses (1,081 ) 3,205 (1,208 ) (505 ) 721 (27 ) 45 1,150 Charge-offs (2,424 ) (5,247 ) (191 ) (496 ) (199 ) (5 ) (293 ) (8,855 ) Recoveries 1,833 189 14 75 27 6 3 2,147 Balance at end of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Year ended December 31, 2013 Balance at beginning of period $ 17,819 7,734 2,097 1,323 1,259 30 781 31,043 Provision for loan losses 1,479 859 305 1,719 303 (2 ) (131 ) 4,532 Charge-offs (8,706 ) (1,640 ) (630 ) (1,480 ) (160 ) - (8 ) (12,624 ) Recoveries 957 258 35 51 - 6 6 1,313 Balance at end of period $ 11,549 7,211 1,807 1,613 1,402 34 648 24,264
Schedule of Allowance for Loan Loss for Loans Evaluated Individually and Collectively For Impairment	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2015 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Allowance related to loans individually evaluated for impairment $ 1,114 242 108 3 106 - 3 1,576 Allowance related to loans collectively evaluated for impairment 6,649 4,758 325 901 1,574 9 393 14,609 Balance at end of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Loans individually evaluated for impairment $ 18,385 5,100 472 1,795 1,766 - 27 27,545 Loans collectively evaluated for impairment 363,607 542,150 23,854 17,353 117,054 361 23,010 1,087,389 Total gross loans $ 381,992 547,250 24,326 19,148 118,820 361 23,037 1,114,934 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2014 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands ) Allowance related to loans individually evaluated for impairment $ 2,386 731 63 13 526 - 7 3,726 Allowance related to loans collectively evaluated for impairment 7,491 4,627 359 674 1,425 8 396 14,980 Balance at end of period $ 9,877 5,358 422 687 1,951 8 403 18,706 Loans individually evaluated for impairment $ 29,509 15,562 589 2,266 3,077 - 299 51,302 Loans collectively evaluated for impairment 382,470 506,719 28,618 14,815 91,694 200 19,172 1,043,688 Total gross loans $ 411,979 522,281 29,207 17,081 94,771 200 19,471 1,094,990
Internal Risk Rating of Loans Receivable	The following table presents information relating to the Company's internal risk ratings of its loans receivable as of December 31, 2015 and 2014: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2015 (In Thousands) Substandard $ 19,148 2,553 684 1,794 1,766 - 55 26,000 Watch 11,352 3,634 128 - 1,161 - 402 16,677 Pass 351,492 541,063 23,514 17,354 115,893 361 22,580 1,072,257 $ 381,992 547,250 24,326 19,148 118,820 361 23,037 1,114,934 At December 31, 2014 (In Thousands) Substandard $ 28,945 12,638 624 2,266 3,077 - 299 47,849 Watch 10,779 7,070 278 1,377 2,186 - 840 22,530 Pass 372,255 502,573 28,305 13,438 89,508 200 18,332 1,024,611 $ 411,979 522,281 29,207 17,081 94,771 200 19,471 1,094,990
Impaired Loan Receivables	The following tables present data on impaired loans at December 31, 2015 and 2014. As of or for the Year Ended December 31, 2015 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 7,903 8,923 1,114 1,020 8,113 393 Multi family 1,055 1,055 242 - 1,044 42 Home equity 169 169 108 - 174 10 Construction and land 156 269 3 113 155 - Commercial real estate 314 723 106 409 367 23 Consumer - - - - - - Commercial 3 3 3 - 5 1 $ 9,600 11,142 1,576 1,542 9,858 469 Total Impaired with no Reserve One- to four-family $ 10,482 11,991 - 1,509 10,676 500 Multi family 4,045 5,090 - 1,045 4,106 245 Home equity 303 303 - - 307 13 Construction and land 1,639 1,639 - - 1,827 62 Commercial real estate 1,452 1,452 - - 1,458 72 Consumer - - - - - - Commercial 24 24 - - 29 2 $ 17,945 20,499 - 2,554 18,403 894 Total Impaired One- to four-family $ 18,385 20,914 1,114 2,529 18,789 893 Multi family 5,100 6,145 242 1,045 5,150 287 Home equity 472 472 108 - 481 23 Construction and land 1,795 1,908 3 113 1,982 62 Commercial real estate 1,766 2,175 106 409 1,825 95 Consumer - - - - - - Commercial 27 27 3 - 34 3 $ 27,545 31,641 1,576 4,096 28,261 1,363 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The difference between a loan's recorded investment and the unpaid principal balance represents a partial charge-off resulting from a confirmed loss due to the value of the collateral securing the loan being below the loan balance and management's assessment that the full collection of the loan balance is not likely. When a loan is considered impaired, interest payments received are treated as interest income on a cash basis as long as the remaining book value of the loan (i.e., after charge-off of all identified losses) is deemed to be fully collectible. If the remaining book value is not deemed to be fully collectible, all payments received are applied to unpaid principal. Determination as to the ultimate collectability of the remaining book value is supported by an updated credit department evaluation of the borrower's financial condition and prospects for repayment, including consideration of the borrower's sustained historical repayment performance and other relevant factors. As of or for the Year Ended December 31, 2014 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 11,864 13,345 2,386 1,481 15,982 515 Multi family 7,438 10,285 731 2,847 12,720 177 Home equity 144 144 63 - 195 7 Construction and land 47 61 13 14 63 - Commercial real estate 2,984 3,544 526 560 4,211 128 Consumer - - - - - - Commercial 7 7 7 - 12 1 $ 22,484 27,386 3,726 4,902 33,183 828 Total Impaired with no Reserve One- to four-family $ 17,645 19,795 - 2,150 23,215 860 Multi family 8,124 9,364 - 1,240 12,693 439 Home equity 445 445 - - 554 15 Construction and land 2,219 2,332 - 113 3,379 97 Commercial real estate 93 93 - - 126 4 Consumer - - - - - - Commercial 292 535 - 243 470 2 $ 28,818 32,564 - 3,746 40,437 1,417 Total Impaired One- to four-family $ 29,509 33,140 2,386 3,631 39,197 1,375 Multi family 15,562 19,649 731 4,087 25,413 616 Home equity 589 589 63 - 749 22 Construction and land 2,266 2,393 13 127 3,442 97 Commercial real estate 3,077 3,637 526 560 4,337 132 Consumer - - - - - - Commercial 299 542 7 243 482 3 $ 51,302 59,950 3,726 8,648 73,620 2,245
Troubled Debt Restructurings on Loan Receivables	The following presents data on troubled debt restructurings: As of December 31, 2015 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 3,900 4 $ 5,739 45 $ 9,639 49 Multi family 2,546 1 2,317 7 4,863 8 Home equity - - 98 1 98 1 Construction and land 1,556 2 - - 1,556 2 Commercial real estate 1,306 1 77 1 1,383 2 $ 9,308 8 $ 8,231 54 $ 17,539 62 As of December 31, 2014 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 4,724 8 $ 10,233 55 $ 14,957 63 Multi family 2,923 2 4,797 7 7,720 9 Home equity - - 98 1 98 1 Construction and land 1,866 2 - - 1,866 2 Commercial real estate 1,306 1 170 1 1,476 2 $ 10,819 13 $ 15,298 64 $ 26,117 77
Schedule of Troubled Debt Restructurings by Concession Type	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following presents troubled debt restructurings by concession type at December 31, 2015 and 2014: As of December 31, 2015 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 13,971 30 1,012 5 14,983 35 Principal forbearance 97 1 - - 97 1 Interest reduction 2,459 26 - - 2,459 26 $ 16,527 57 1,012 5 17,539 62 As of December 31, 2014 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 15,306 36 2,014 7 17,320 43 Principal forbearance 490 3 2,632 1 3,122 4 Interest reduction 4,875 11 800 19 5,675 30 $ 20,671 50 5,446 27 26,117 77
Schedule of Data on Troubled Debt Restructurings	The following presents data on troubled debt restructurings: For the Years Ended December 31, 2015 December 31, 2014 Amount Number Amount Number (Dollars in Thousands) Loans modified as a troubled debt restructure One- to four-family $ 186 3 2,939 14 Multi family 819 2 1,337 5 Home equity - - 98 1 Commercial real estate - - 1,306 1 $ 1,005 5 5,680 21 There were four troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2015. The four troubled debt restructurings within the past twelve months for which there was a default totaled $935,000 primarily made up of multi family loans. There were no troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2014.
Schedule of Loans Receivables, Non Accrual Status	The following table presents data on non-accrual loans: As of December 31, 2015 2014 (Dollars in Thousands) Residential One- to four-family $ 13,888 23,918 Multi family 2,553 12,001 Home equity 437 445 Construction and land 239 401 Commercial real estate 460 947 Commercial 27 299 Consumer - - Total non-accrual loans $ 17,604 38,011 Total non-accrual loans to total loans 1.58 % 3.47 % Total non-accrual loans to total assets 1.00 % 2.13 %

Office Properties and Equipme34

Office Properties and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Office Properties and Equipment [Abstract]
Schedule of office properties and equipment	Office properties and equipment are summarized as follows: December 31, 2015 2014 (In Thousands) Land $ 6,668 6,442 Office buildings and improvements 29,990 28,085 Furniture and equipment 12,655 16,339 49,313 50,866 Less accumulated depreciation (23,985 ) (25,304 ) $ 25,328 25,562
Minimum annual commitments under all non-cancelable lease agreements	The Company and certain subsidiaries are obligated under non-cancelable operating leases for other facilities and equipment. Rent and equipment lease expense totaled $3.8 million, $4.5 million and $3.3 million for the years ended December 31, 2015, 2014 and 2013, respectively. The appropriate minimum annual commitments under all non-cancelable lease agreements as of December 31, 2015 are as follows: Operating leases (In Thousands) Within one year $ 2,899 One to two years 2,223 Two to three years 1,727 Three to four years 1,197 Four through five years 931 After five years 2,175 Total $ 11,152

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate Owned [Abstract]
Summary of real estate owned	Real estate owned is summarized as follows: December 31, 2015 2014 (In Thousands) One- to four-family $ 4,610 10,896 Multi-family 209 2,210 Construction and land 5,262 5,400 Commercial real estate 300 300 Total 10,381 18,806 Valuation allowance at end of period (1,191 ) (100 ) Total real estate owned, net $ 9,190 18,706 The following table presents the activity in real estate owned: Year Ended December 31, 2015 2014 (In Thousands) Real estate owned at beginning of period $ 18,706 22,663 Transferred in from loans receivable 15,580 16,645 Sales (23,413 ) (19,057 ) Write downs (2,202 ) (1,523 ) Other activity 519 (22 ) Real estate owned at end of period $ 9,190 18,706

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2015
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights Activity	The following table presents the activity related to the Company's mortgage servicing rights: Year ended December 31, 2015 2014 (In Thousands) Mortgage servicing rights at beginning of the period $ 2,511 $ 3,377 Additions 3,838 4,181 Amortization (481 ) (435 ) Sales (4,446 ) (4,602 ) Mortgage servicing rights at end of the period 1,422 2,521 Valuation allowance at end of period - (10 ) Mortgage servicing rights at the end of the period, net $ 1,422 $ 2,511 During the twelve months ended December 31, 2015, $2.0 billion in residential loans were originated for sale. During the same period, sales of loans held for sale totaled $1.9 billion, generating mortgage banking income of $101.5 million. The unpaid principal balance of loans serviced for others was $176.4 million and $308.1 million at December 31, 2015 and December 31, 2014 respectively. These loans are not reflected in the consolidated statements of financial condition. During the twelve months ended December 31, 2015, the Company sold mortgage servicing rights related to $580.2 million in loans receivable and with a book value of $4.4 million for $5.3 million resulting in a gain on sale of $901,000. During the twelve months ended December 31, 2014, the Company sold mortgage servicing rights related to $713.0 million in loans receivable and with a book value of $4.6 million for $7.1 million resulting in a gain on sale of $2.5 million.
Estimated Amortization Expense of Mortgage Servicing Rights	The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2015 for the periods indicated: (In Thousands) Estimate for the years ended December 31: 2016 $ 212 2017 194 2018 176 2019 157 2020 141 Thereafter 542 Total $ 1,422

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2015
Deposits [Abstract]
Summary of interest expense on deposits	A summary of interest expense on deposits is as follows: Years ended December 31, 2015 2014 2013 (In Thousands) Interest-bearing demand deposits $ 20 16 13 Money market and savings deposits 197 113 132 Time deposits 5,662 4,797 5,070 $ 5,879 4,926 5,215
Contractual maturities of time deposits	A summary of the contractual maturities of time deposits at December 31, 2015 is as follows: (In Thousands) Within one year $ 508,357 One to two years 125,148 Two to three years 9,749 Three to four years 2,971 Four through five years 3,832 $ 650,057

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2015
Borrowings [Abstract]
Borrowings	Borrowings consist of the following: December 31, 2015 December 31, 2014 Balance Weighted Average Rate Balance Weighted Average Rate (In Thousands) Short-term repurchase agreements $ 7,203 3.19 % - 0.00 % Federal Home Loan Bank advances maturing: 2016 220,000 4.34 % 220,000 4.34 % 2017 65,000 3.19 % 65,000 3.19 % 2018 65,000 2.97 % 65,000 2.97 % Repurchase agreements maturing: 2017 84,000 3.96 % 84,000 3.96 % $ 441,203 3.88 % 434,000 3.89 %

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2015
Regulatory Capital [Abstract]
Actual and required capital amounts and ratios	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The actual and required capital amounts and ratios as of December 31, 2015 and 2014 are presented in the table below: December 31, 2015 Actual For Capital Adequacy Purposes To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 405,947 33.41 % $ 97,207 8.00 % N/ A N/ A WaterStone Bank 374,435 30.92 % 96,885 8.00 % 121,106 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 390,747 32.16 % 72,905 6.00 % N/ A N/ A WaterStone Bank 359,284 29.67 % 72,664 6.00 % 96,885 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 390,747 32.16 % 54,679 4.50 % N/ A N/ A WaterStone Bank 359,284 29.67 % 54,498 4.50 % 78,719 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 390,747 22.20 % 70,417 4.00 % N/ A N/ A WaterStone Bank 359,284 20.45 % 70,286 4.00 % 87,857 5.00 % State of Wisconsin (to total assets) WaterStone Bank 359,284 20.43 % 105,493 6.00 % N/ A N/ A December 31, 2014 (Dollars In Thousands) Total capital (to risk-weighted assets) $ 357,514 31.98 % 89,428 8.00 % 111,785 10.00 % Tier I capital (to risk-weighted assets) 343,483 30.73 % 44,714 4.00 % 67,071 6.00 % Tier I capital (to average assets) 343,483 19.04 % 72,175 4.00 % 90,219 5.00 % State of Wisconsin (to total assets) 343,483 19.33 % 106,643 6.00 % N/ A N/ A

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Stock Based Compensation [Abstract]
Estimated fair value of options granted	Assumptions are used in estimating the fair value of stock options granted. The weighted average expected life of the stock options represent the period of time that the options are expected to be outstanding and is based on the historical results from the previous awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the actual volatility of a peer group including Waterstone Financial, Inc. stock from approximately five years prior to issuance date. The following assumptions were used in estimating the fair value of options granted in the year ended December 31, 2015. There were no options granted during the year ended December 31, 2014. Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 2015 Minimum Maximum Dividend Yield 1.45 % 1.57 % Risk-free interest rate 1.60 % 1.72 % Expected volatility 28.24 % 31.88 % Weighted average expected life 4.5 5.0 Weighted average per share value of options $ 3.08 3.24
Stock option activity	A summary of the Company's stock option activity for the years ended December 31, 2015, 2014 and 2013 is presented below. Stock Options Shares Weighted Average Exercise Price Weighted Average Years Remaining in Contractual Term Aggregate Intrinsic Value (000's) Outstanding December 31, 2012 1,119,795 $ 11.95 5.69 1,622 Options exercisable at December 31, 2012 816,939 15.12 4.31 80 Granted - - - Exercised (1,097 ) 1.72 (9 ) Forfeited (19,751 ) 4.63 (112 ) Outstanding December 31, 2013 1,098,947 12.11 4.18 2,744 Options exercisable at December 31, 2013 870,707 14.23 3.28 636 Granted - - - Exercised (31,624 ) 1.73 361 Forfeited (96,576 ) 13.33 (18 ) Outstanding December 31, 2014 970,747 12.33 3.32 797 Options exercisable at December 31, 2014 824,803 14.16 2.67 (829 ) Granted 1,210,000 12.79 1,584 Exercised (62,276 ) 1.90 760 Forfeited (15,424 ) 13.42 10 Outstanding December 31, 2015 2,103,047 12.90 6.15 2,533 Options exercisable at December 31, 2015 810,255 14.25 1.63 (123 ) The following table summarizes information about the Corporation's stock options outstanding at December 31, 2015. Options Outstanding Weighted Average Exercise Price Remaining Life (Years) Options Exercisable Weighted Average Exercise Price Remaining Life (Years) Range of Exercise Prices $ 0.01 - $5.00 195,781 $ 2.31 5.70 107,989 $ 2.71 5.42 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 1,215,973 12.78 9.14 10,973 11.65 1.96 Over $15.01 691,293 16.10 1.03 691,293 16.10 1.03 2,103,047 $ 12.90 6.15 810,255 $ 14.25 1.63 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013
Summary of nonvested stock option activity	Stock Options Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2013 228,238 $ 1.33 Granted - - Vested (62,543 ) 1.41 Forfeited (19,751 ) 1.14 Nonvested at December 31, 2014 145,944 1.32 Nonvested at December 31, 2014 145,944 $ 1.32 Granted 1,210,000 3.23 Vested (55,957 ) 2.20 Forfeited (7,195 ) 3.19 Nonvested at December 31, 2015 1,292,792 3.09
Summary of restricted stock shares activity	The following table summarizes information about the Company's restricted stock shares activity for the years ended December 31, 2015 and 2014: Restricted Stock Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2013 87,784 $ 1.72 Granted - - Vested (21,945 ) 1.73 Forfeited (16,459 ) 1.73 Nonvested at December 31, 2014 49,380 1.73 Nonvested at December 31, 2014 49,380 1.73 Granted 549,500 12.77 Vested (110,559 ) 11.11 Forfeited - - Nonvested at December 31, 2015 488,321 12.03

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	12 Months Ended
	Dec. 31, 2015
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	The aggregate activity in the number of unearned ESOP shares, considering the allocation of those shares committed to be released as of December 31, 2015 and 2014 is as follows: 2015 2014 Beginning ESOP shares 2,002,183 83,561 Shares purchased under 2014 plan - 2,024,000 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,896,805 2,002,183 Fair value of unreleased shares $ 26.7 26.2

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Provision (benefit) for income taxes	The provision for income taxes for the year ended December 31, 2015, 2014 and 2013 consists of the following: Years ended December 31, 2015 2014 2013 (In Thousands) Current: Federal $ 8,061 3,158 2,842 State 1,342 301 385 9,403 3,459 3,227 Deferred: Federal (447 ) 2,578 3,861 State 293 1,138 1,533 (154 ) 3,716 5,394 Total $ 9,249 7,175 8,621
Differential income tax provisions computed at the Federal statutory corporate tax rate	The income tax provisions differ from that computed at the Federal statutory corporate tax rate for the years ended December 31, 2015, 2014 and 2013 as follows: Years ended December 31, 2015 2014 2013 (Dollars In Thousands) Income before income taxes $ 25,819 19,907 23,329 Tax at Federal statutory rate (35%) 9,037 6,967 8,165 Add (deduct) effect of: State income taxes net of Federal income tax benefit 1,063 936 1,246 Cash surrender value of life insurance (496 ) (451 ) (376 ) Non-deductible ESOP and stock option expense 181 39 (62 ) Tax-exempt interest income (552 ) (514 ) (392 ) Non-deductible compensation 154 170 - ESOP dividends (185 ) - - Other 47 28 40 Income tax provision 9,249 7,175 8,621 Effective tax rate 35.8 % 36.0 % 37.0 %
Components of net deferred tax assets (liabilities) included in prepaid expenses and other assets	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The significant components of the Company's net deferred tax assets (liabilities) included in prepaid expenses and other assets are as follows at December 31, 2015 and 2014: December 31, 2015 2014 Gross deferred tax assets: (In Thousands) Fixed assets $ 765 290 Compensation agreements 96 149 Restricted stock and stock options 1,363 911 Allowance for loan losses 6,285 7,272 Repurchase reserve for loans sold 192 145 Real estate owned 1,643 1,001 Nonaccrual interest 709 1,371 Capital loss carryforward 441 465 State NOL carryforward - 230 Unrealized loss on impaired securities 45 45 Other 165 87 Total gross deferred tax assets 11,704 11,966 Gross deferred tax liabilities: Unrealized gain on securities available for sale, net (701 ) (1,130 ) Mortgage servicing rights (575 ) (1,019 ) FHLB stock (728 ) (729 ) Deferred loan fees (738 ) (708 ) Deferred liabilities (2,742 ) (3,586 ) Net deferred tax assets $ 8,962 8,380

Offsetting of Assets and Liab43

Offsetting of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Offsetting of Assets and Liabilities [Abstract]
Repurchase liabilities [Table Text Block]	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents the liabilities subject to an enforceable master netting agreement as of December 31, 2015 and December 31, 2014. Gross Recognized Liabilities Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount (In thousands) December 31, 2015 Repurchase Agreements Short-term $ 7,203 - 7,203 7,203 - Long-term 84,000 - 84,000 84,000 - $ 91,203 - 91,203 91,203 - December 31, 2014 Repurchase Agreements Short-term $ - - - - - Long-term 84,000 - 84,000 84,000 - $ 84,000 - 84,000 84,000 -

Financial Instruments with Of44

Financial Instruments with Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2015
Financial Instruments with Off Balance Sheet Risk [Abstract]
Financial Instruments with Off-Balance Sheet Risk	The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. December 31, 2015 2014 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 10,307 18,889 Commitments to extend credit under home equity lines of credit 14,173 14,775 Unused portion of construction loans 25,545 12,333 Unused portion of business lines of credit 16,392 11,599 Standby letters of credit 566 766 (1)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured On Recurring Basis [Table Text Block]	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2015 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 96,667 - 96,667 - Collateralized mortgage obligations Government sponsored enterprise issued 70,428 - 70,428 - Government sponsored enterprise bonds 3,746 - 3,746 - Municipal securities 79,159 - 79,159 - Other debt securities 16,963 2,600 14,363 - Certificates of deposit 2,695 - 2,695 - Loans held for sale 166,516 - 166,516 - Mortgage banking derivative assets 2,313 - - 2,313 Mortgage banking derivative liabilities 125 - - 125 Fair Value Measurements Using December 31, 2014 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 117,128 - 117,128 - Collateralized mortgage obligations Government sponsored enterprise issued 59,071 - 59,071 - Government sponsored enterprise bonds 6,711 - 6,711 - Municipal securities 77,108 - 77,108 - Other debt securities 7,528 2,550 4,978 - Certificates of deposit 5,897 - 5,897 - Loans held for sale 125,073 - 125,073 - Mortgage banking derivative assets 1,644 - - 1,644 Mortgage banking derivative liabilities 645 - - 645
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2015 and 2014. Mortgage banking derivatives, net Balance at December 31, 2013 $ 1,189 Transfer into level 3 - Mortgage derivative gain, net (190 ) Balance at December 31, 2014 999 Transfer into level 3 - Mortgage derivative gain, net 1,189 Balance at December 31, 2015 $ 2,188
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of December 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2015 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 8,024 - - 8,024 Real estate owned 9,190 - - 9,190 Fair Value Measurements Using December 31, 2014 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 18,758 - - 18,758 Real estate owned 18,706 - - 18,706 Mortgage servicing rights 9 - - 9 _________ (1)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at Significant Significant Unobservable Input Value December 31, 2015 Valuation Technique Unobservable Inputs Minimum Value Maximum Value Mortgage banking derivatives $ 2,188 Pricing models Pull through rate 50.0 % 100.0 % Impaired loans 8,024 Market approach Discount rates applied to appraisals 15.0 % 35.0 % Real estate owned 9,190 Market approach Discount rates applied to appraisals 0.0 % 85.7 % Mortgage servicing rights 1,658 Pricing models Prepayment rate 7.5 % 27.1 % Discount rate 10.0 % 11.0 % Cost to service $ 76.36 $ 339.90 ___________
Fair Value, by Balance Sheet Grouping [Table Text Block]	The carrying amounts and fair values of the Company's financial instruments consist of the following at December 31, 2015 and December 31, 2014: December 31, 2015 December 31, 2014 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 100,471 100,471 100,471 - - 172,820 172,820 167,370 5,450 - Securities available-for-sale 269,658 269,658 2,600 267,058 - 273,443 273,443 2,550 270,893 - Loans held for sale 166,516 166,516 - 166,516 - 125,073 125,073 - 125,073 - Loans receivable 1,114,934 1,165,370 - - 1,165,370 1,094,990 1,184,398 - - 1,184,398 FHLB stock 19,500 19,500 - 19,500 - 17,500 17,500 - 17,500 - Accrued interest receivable 4,108 4,108 4,108 - - 4,029 4,029 4,029 - - Mortgage servicing rights 1,422 1,658 - - 1,658 2,511 2,808 - - 2,808 Mortgage banking derivative assets 2,313 2,313 - - 2,313 1,644 1,644 - - 1,644 Financial Liabilities Deposits 893,361 894,015 243,304 650,711 - 863,960 866,173 211,325 654,848 - Advance payments by borrowers for taxes 3,661 3,661 3,661 - - 4,991 4,991 4,991 - - Borrowings 441,203 463,238 - 463,238 - 434,000 459,484 - 459,484 - Accrued interest payable 1,642 1,642 1,642 - - 1,600 1,600 1,600 - - Mortgage banking derivative liabilities 125 125 - - 125 645 645 - - 645

Earnings (loss) per share (Tabl

Earnings (loss) per share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings (Loss) Per Share [Abstract]
Calculations for basic and diluted earnings loss per share	Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Participating securities include unvested restricted stock awards. Unvested restricted stock awards issued in 2012 are considered participating securities because holders of these securities have the right to receive dividends at the same rate as holders of the Company's common stock. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. For the year ended December 31, 2015 2014 2013 (In Thousands, except per share amounts) Net income 16,570 12,732 14,708 Net income available to unvested restricted stockholders 19 19 38 Net income available to common stockholders $ 16,551 12,713 14,670 Weighted average shares outstanding 29,161 33,406 34,185 Effect of dilutive potential common shares 270 237 254 Diluted weighted average shares outstanding 29,431 33,643 34,439 Basic income per share $ 0.57 0.38 0.43 Diluted income per share $ 0.56 0.38 0.43

Condensed Parent Company Only47

Condensed Parent Company Only Statements (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Parent Company Only Statements [Abstract]
Statements of Financial Condition	Statements of Financial Condition December 31, 2015 2014 (In Thousands) Assets Cash and cash equivalents $ 30,833 101,637 Securities available for sale (at fair value) 2,600 2,550 Investment in subsidiaries 359,191 345,234 Other assets 904 2,596 Total Assets $ 393,528 452,017 Liabilities and shareholders' equity Liabilities: Other liabilities 1,598 1,780 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2015 and 2014, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2015 and in 2014, Issued - 29,407,455 in 2015 and 34,420,094 in 2014, Outstanding - 29,407,455 in 2015 and 34,420,094 in 2014 294 344 Additional paid-in-capital 317,022 313,894 Retained earnings 168,089 157,304 Unearned ESOP shares (21,365 ) (22,552 ) Cost of shares repurchased (5,624,415 in 2015 and 0 in 2014), at cost (72,692 ) - Accumulated other comprehensive income (net of taxes) 582 1,247 Total shareholders' equity 391,930 450,237 Total liabilities and shareholders' equity $ 393,528 452,017
Statements of Operations	Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 Statements of Operations For the year ended December 31, 2015 2014 2013 (In Thousands) Interest income $ 770 1,078 586 Equity in income of subsidiaries 16,513 12,431 14,468 Total income 17,283 13,509 15,054 Compensation - 52 (118 ) Professional fees 24 2 16 Other expense 586 370 287 Total expense 610 424 185 Income before income tax expense 16,673 13,085 14,869 Income tax expense 103 353 161 Net income $ 16,570 12,732 14,708
Statements of Cash Flows	Statements of Cash Flows For the year ended December 31, 2015 2014 2013 (In Thousands) Cash flows from operating activities Net income $ 16,570 12,732 14,708 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of unearned ESOP 1,385 1,217 718 Stock based compensation 2,817 109 126 Deferred income taxes 49 80 (21 ) Equity in earnings of subsidiaries (16,513 ) (12,431 ) (14,468 ) Change in other assets and liabilities (1,286 ) 599 (1,051 ) Net cash provided by operating activities 3,022 2,306 12 Cash flows used in investing activities: Capital contributions to subsidiary - (124,211 ) - Call of debt securities - 2,609 - Net cash used in investing activities - (121,602 ) - Dividends received from subsidiary 4,678 - - Cash dividends on common stock (5,869 ) (5,003 ) - Financing for purchase of ESOP shares - (22,884 ) - Proceeds from stock option exercises 113 49 - Proceeds/refunds from stock offering - 248,422 - Purchase of common stock returned to authorized but unissued (72,748 ) - - Net cash (used in) provided by financing activities (73,826 ) 220,584 - Net (decrease) increase in cash (70,804 ) 101,288 12 Cash and cash equivalents at beginning of year 101,637 349 337 Cash and cash equivalents at end of year $ 30,833 101,637 349

Segment and Related Informati48

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segments and Related Information [Abstract]
Schedule of segment reporting information, by segment	As of or for the Year ended December 31, 2015 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 37,735 759 350 38,844 Provision for loan losses 1,600 365 - 1,965 Net interest income after provision for loan losses 36,135 394 350 36,879 Noninterest income 3,493 101,499 (518 ) 104,474 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 16,462 65,712 (421 ) 81,753 Occupancy, office furniture, and equipment 3,278 6,009 - 9,287 FDIC insurance premiums 1,058 - - 1,058 Real estate owned 2,649 15 - 2,664 Other 4,512 16,169 91 20,772 Total noninterest expenses 27,959 87,905 (330 ) 115,534 Income before income taxes 11,669 13,988 162 25,819 Income taxes 3,419 5,727 103 9,249 Net income $ 8,250 8,261 59 16,570 Total Assets $ 1,729,582 188,324 (155,177 ) 1,762,729 Waterstone Financial, Inc. and Subsidiaries Notes to Consolidated Financial Statements Years ended December 31, 2015, 2014 and 2013 As of or for the Year ended December 31, 2014 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 39,591 1,051 665 41,307 Provision for loan losses 750 400 - 1,150 Net interest income after provision for loan losses 38,841 651 665 40,157 Noninterest income 3,264 81,710 (406 ) 84,568 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 14,915 54,626 (369 ) 69,172 Occupancy, office furniture and equipment 3,350 7,019 - 10,369 FDIC insurance premiums 1,395 - - 1,395 Real estate owned 2,473 9 - 2,482 Other 4,819 16,616 (35 ) 21,400 Total noninterest expenses 26,952 78,270 (404 ) 104,818 Income before income taxes 15,153 4,091 663 19,907 Income taxes 5,173 1,649 353 7,175 Net income $ 9,980 2,442 310 12,732 Total Assets $ 1,758,707 145,980 (121,307 ) 1,783,380 As of or for the Year ended December 31, 2013 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 38,148 557 501 39,206 Provision for loan losses 4,472 60 - 4,532 Net interest income after provision for loan losses 33,676 497 501 34,674 Noninterest income 3,134 84,879 (214 ) 87,799 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 13,526 55,484 (203 ) 68,807 Occupancy, office furniture and equipment 3,052 5,194 (81 ) 8,165 FDIC insurance premiums 1,986 - - 1,986 Real estate owned 255 - - 255 Other 4,197 15,565 169 19,931 Total noninterest expenses 23,016 76,243 (115 ) 99,144 Income before income taxes 13,794 9,133 402 23,329 Income taxes 4,777 3,682 162 8,621 Net income $ 9,017 5,451 240 14,708 Total Assets $ 1,895,833 119,401 (68,195 ) 1,947,039

Summary of Significant Accoun49

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Segment	Dec. 31, 2014USD ($)
Organization [Abstract]
Common shares outstanding (in hundredths)	0.00%
Nature of Operations [Abstract]
Number of operating segments (in segments) | Segment	2
Cash and Cash Equivalents [Abstract]
Federal funds and debt instruments maturity period (in months)	3 months
Loans Held for Sale [Abstract]
Mortgage loans selling period (in days)	45 days
Carrying value of loans held for sale | $	$ 6.7	$ 5.9
Percentage of costs expensed on appropriate noninterest expense (in hundredths)	74.80%
Income Taxes [Abstract]
Realized income tax benefit (in hundredths)	50.00%
Office properties [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of office properties and equipment (in years)	P10Y
Office properties [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of office properties and equipment (in years)	P30Y
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of office properties and equipment (in years)	P3Y
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of office properties and equipment (in years)	P10Y
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of office properties and equipment (in years)	P3Y

Securities, Part I (Details)

Securities, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 267,871	$ 270,562
Gross unrealized gains	3,070	3,522
Gross unrealized losses	(1,283)	(641)
Fair value	269,658	273,443
Amortized cost of investment securities by contractual maturity [Abstract]
Due within one year	12,914
Due after one year through five years	17,157
Due after five years through ten years	44,647
Due after ten years	26,637
Mortgage-related securities	166,516
Amortized cost	267,871
Fair value of investment securities by contractual maturity [Abstract]
Due within one year	12,951
Due after one year through five years	17,210
Due after five years through ten years	45,628
Due after ten years	26,774
Mortgage-related securities	167,095
Fair value	269,658
Gross gains and losses from sales of investment securities available for sale [Abstract]
Gross gains	44	0	$ 6
Gross losses	0	0	(15)
Gains on sale of investment securities, net	44	0	(9)
Proceeds from sales of investment securities	1,034	0	$ 921
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	94,763	47,545
12 months or longer	11,132	36,803
Fair value	105,895	84,348
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(1,136)	(148)
12 months or longer	(147)	(493)
Unrealized loss	(1,283)	(641)
Mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	95,911	115,670
Gross unrealized gains	1,004	1,582
Gross unrealized losses	(248)	(124)
Fair value	96,667	117,128
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	18,488	10,537
12 months or longer	5,577	12,489
Fair value	24,065	23,026
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(163)	(13)
12 months or longer	(85)	(111)
Unrealized loss	(248)	(124)
Collateralized mortgage obligations, government sponsored enterprise issued [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	70,605	58,821
Gross unrealized gains	123	320
Gross unrealized losses	(300)	(70)
Fair value	70,428	59,071
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	48,281	23,131
12 months or longer	0	0
Fair value	48,281	23,131
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(300)	(70)
12 months or longer	0	0
Unrealized loss	(300)	(70)
Mortgage-related securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	166,516	174,491
Gross unrealized gains	1,127	1,902
Gross unrealized losses	(548)	(194)
Fair value	167,095	176,199
Securities pledged as collateral to secure repurchase agreements or related to mortgage banking activities	94,100
Government-sponsored enterprise bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	3,750	6,750
Gross unrealized gains	0	2
Gross unrealized losses	(4)	(41)
Fair value	3,746	6,711
Securities pledged as collateral to secure repurchase agreements or related to mortgage banking activities	0
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	3,246	2,739
12 months or longer	0	2,970
Fair value	3,246	5,709
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(4)	(11)
12 months or longer	0	(30)
Unrealized loss	(4)	(41)
Municipal securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	77,509	76,037
Gross unrealized gains	1,730	1,442
Gross unrealized losses	(80)	(371)
Fair value	79,159	77,108
Securities pledged as collateral to secure repurchase agreements or related to mortgage banking activities	2,500
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	9,409	5,671
12 months or longer	5,555	21,344
Fair value	14,964	27,015
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(18)	(19)
12 months or longer	(62)	(352)
Unrealized loss	(80)	(371)
Other debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	17,401	7,404
Gross unrealized gains	209	159
Gross unrealized losses	(647)	(35)
Fair value	16,963	7,528
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	14,363	4,977
12 months or longer	0	0
Fair value	14,363	4,977
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(647)	(35)
12 months or longer	0	0
Unrealized loss	(647)	(35)
Debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	98,660	90,191
Gross unrealized gains	1,939	1,603
Gross unrealized losses	(731)	(447)
Fair value	99,868	91,347
Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,695	5,880
Gross unrealized gains	4	17
Gross unrealized losses	(4)	0
Fair value	2,695	5,897
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	976	490
12 months or longer	0	0
Fair value	976	490
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(4)	0
12 months or longer	0	0
Unrealized loss	$ (4)	$ 0

Securities, Part II (Details)

Securities, Part II (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Security	Dec. 31, 2014USD ($)Security	Dec. 31, 2013USD ($)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Gain on sale	$ 44,000	$ 0	$ (9,000)
Amortized cost	267,871,000
Fair value	269,658,000
Other-than-temporary impairment charges recognized in other comprehensive loss [Roll Forward]
Credit related impairments on securities as of beginning of period	117,000	100,000
Credit related impairments related to securities for which an other-than-temporary impairment was not previously recognized	0	0
Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized	0	17,000
Credit related impairments on securities as of end of period	$ 117,000	$ 117,000	$ 100,000
Securities Held to Maturity [Abstract]
Number of securities held to maturity (in securities) | Security	0	0
Securities held to maturity, at amortized cost	$ 0	$ 0
Debt security, other-than-temporarily Impaired 1 [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Analysis resulted in an estimate of approximately in credit losses
Collateralized mortgage obligations, private-label issued [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Number of securities for which a cash flow analysis was performed
Gain on sale
Amortized cost of securities for which a cash flow analysis was performed
Number of securities that were other-than-temporarily impaired | Security
Municipal securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Number of securities that were other-than-temporarily impaired | Security	2
Amortized cost	$ 198,000
Fair value	$ 117,000
Number of securities that were in unrealized loss position twelve months or longer (in securities) | Security	14
Other-than-temporary impairment charges recognized in other comprehensive loss [Roll Forward]
Credit related impairments on securities as of end of period

Loans Receivable, Part I (Detai

Loans Receivable, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans [Abstract]
Loans receivable	$ 1,114,934	$ 1,094,990
Percentage of total loans receivable secured by residential real estate (in hundredths)	85.30%
Mortgage loans receivable located outside the state of Wisconsin
Percentage of total mortgage loans located outside of the state of Wisconsin (in hundredths)
Loans receivable pledged as collateral	$ 872,800	844,200
Advances by Federal Home Loan Bank	350,000	350,000
One-to Four-family [Member]
Mortgage Loans [Abstract]
Loans receivable	381,992	411,979
Over Four-Family [Member]
Mortgage Loans [Abstract]
Loans receivable	547,250	522,281
Home Equity [Member]
Mortgage Loans [Abstract]
Loans receivable	24,326	29,207
Construction and Land [Member]
Mortgage Loans [Abstract]
Loans receivable	19,148	17,081
Commercial Real Estate [Member]
Mortgage Loans [Abstract]
Loans receivable	118,820	94,771
Consumer [Member]
Mortgage Loans [Abstract]
Loans receivable	361	200
Commercial Loans [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 23,037	$ 19,471

Loans Receivable, Part II (Deta

Loans Receivable, Part II (Details) - USD ($)		Dec. 31, 2015	Dec. 31, 2014
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	$ 1,163,000	$ 4,846,000
60 to 89 Days Past Due	[2]	1,436,000	4,176,000
Greater than 90 Days		8,932,000	25,112,000
Total Past Due		11,531,000	34,134,000
Current	[3]	1,103,403,000	1,060,856,000
Total Loans		1,114,934,000	1,094,990,000
Loan Receivable, 1 to 59 Days Past Due, Nonaccrual Status		315,000	1,600,000
Loan Receivable, 60 to 89 Days Past Due, Nonaccrual Status		467,000	795,000
Loan Receivable, Nonaccrual Status		7,900,000	10,500,000
90 or more days past due		0	0
One-to Four-family [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	851,000	3,767,000
60 to 89 Days Past Due	[2]	1,133,000	3,743,000
Greater than 90 Days		6,503,000	12,196,000
Total Past Due		8,487,000	19,706,000
Current	[3]	373,505,000	392,273,000
Total Loans		381,992,000	411,979,000
Over Four-Family [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	0	462,000
60 to 89 Days Past Due	[2]	207,000	280,000
Greater than 90 Days		1,858,000	11,092,000
Total Past Due		2,065,000	11,834,000
Current	[3]	545,185,000	510,447,000
Total Loans		547,250,000	522,281,000
Home Equity [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	255,000	268,000
60 to 89 Days Past Due	[2]	96,000	153,000
Greater than 90 Days		110,000	250,000
Total Past Due		461,000	671,000
Current	[3]	23,865,000	28,536,000
Total Loans		24,326,000	29,207,000
Construction and Land [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	0	90,000
60 to 89 Days Past Due	[2]	0	0
Greater than 90 Days		238,000	362,000
Total Past Due		238,000	452,000
Current	[3]	18,910,000	16,629,000
Total Loans		19,148,000	17,081,000
Commercial Real Estate [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	57,000	225,000
60 to 89 Days Past Due	[2]	0	0
Greater than 90 Days		223,000	947,000
Total Past Due		280,000	1,172,000
Current	[3]	118,540,000	93,599,000
Total Loans		118,820,000	94,771,000
Consumer [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	0	0
60 to 89 Days Past Due	[2]	0	0
Greater than 90 Days		0	0
Total Past Due		0	0
Current	[3]	361,000	200,000
Total Loans		361,000	200,000
Commercial Loans [Member]
Financing receivable, recorded investment, aging [Abstract]
1 to 59 Days Past Due	[1]	0	34,000
60 to 89 Days Past Due	[2]	0	0
Greater than 90 Days		0	265,000
Total Past Due		0	299,000
Current	[3]	23,037,000	19,172,000
Total Loans		$ 23,037,000	$ 19,471,000
[1]	Includes $315,000 and $1.6 million for December 31, 2015 and 2014, respectively, which are on non-accrual status.
[2]	Includes $467,000 and $795,000 for December 31, 2015 and 2014, respectively, which are on non-accrual status.
[3]	Includes $7.9 million and $10.5 million for December 31, 2015 and 2014, respectively, which are on non-accrual status.

Loans Receivable, Part III (Det

Loans Receivable, Part III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses [Roll Forward]
Balance at beginning of period	$ 18,706	$ 24,264	$ 31,043
Provision for loan losses	1,965	1,150	4,532
Charge-offs	(6,340)	(8,855)	(12,624)
Recoveries	1,854	2,147	1,313
Balance at end of period	16,185	18,706	24,264
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	1,576	3,726
Allowance related to loans collectively evaluated for impairment	14,609	14,980
Loans individually evaluated for impairment	27,545	51,302
Loans collectively evaluated for impairment	1,087,389	1,043,688
Total loans	1,114,934	1,094,990
One-to Four-family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	9,877	11,549	17,819
Provision for loan losses	1,092	(1,081)	1,479
Charge-offs	(3,855)	(2,424)	(8,706)
Recoveries	649	1,833	957
Balance at end of period	7,763	9,877	11,549
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	1,114	2,386
Allowance related to loans collectively evaluated for impairment	6,649	7,491
Loans individually evaluated for impairment	18,385	29,509
Loans collectively evaluated for impairment	363,607	382,470
Total loans	381,992	411,979
Over Four-Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,358	7,211	7,734
Provision for loan losses	931	3,205	859
Charge-offs	(2,281)	(5,247)	(1,640)
Recoveries	992	189	258
Balance at end of period	5,000	5,358	7,211
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	242	731
Allowance related to loans collectively evaluated for impairment	4,758	4,627
Loans individually evaluated for impairment	5,100	15,562
Loans collectively evaluated for impairment	542,150	506,719
Total loans	547,250	522,281
Home Equity [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	422	1,807	2,097
Provision for loan losses	(27)	(1,208)	305
Charge-offs	(72)	(191)	(630)
Recoveries	110	14	35
Balance at end of period	433	422	1,807
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	108	63
Allowance related to loans collectively evaluated for impairment	325	359
Loans individually evaluated for impairment	472	589
Loans collectively evaluated for impairment	23,854	28,618
Total loans	24,326	29,207
Construction and Land [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	687	1,613	1,323
Provision for loan losses	243	(505)	1,719
Charge-offs	(84)	(496)	(1,480)
Recoveries	58	75	51
Balance at end of period	904	687	1,613
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	3	13
Allowance related to loans collectively evaluated for impairment	901	674
Loans individually evaluated for impairment	1,795	2,266
Loans collectively evaluated for impairment	17,353	14,815
Total loans	19,148	17,081
Commercial Real Estate [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	1,951	1,402	1,259
Provision for loan losses	(266)	721	303
Charge-offs	(45)	(199)	(160)
Recoveries	40	27	0
Balance at end of period	1,680	1,951	1,402
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	106	526
Allowance related to loans collectively evaluated for impairment	1,574	1,425
Loans individually evaluated for impairment	1,766	3,077
Loans collectively evaluated for impairment	117,054	91,694
Total loans	118,820	94,771
Consumer [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	8	34	30
Provision for loan losses	(1)	(27)	(2)
Charge-offs	(3)	(5)	0
Recoveries	5	6	6
Balance at end of period	9	8	34
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	0	0
Allowance related to loans collectively evaluated for impairment	9	8
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	361	200
Total loans	361	200
Commercial Loans [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	403	648	781
Provision for loan losses	(7)	45	(131)
Charge-offs	0	(293)	(8)
Recoveries	0	3	6
Balance at end of period	396	403	$ 648
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	3	7
Allowance related to loans collectively evaluated for impairment	393	396
Loans individually evaluated for impairment	27	299
Loans collectively evaluated for impairment	23,010	19,172
Total loans	$ 23,037	$ 19,471

Loans Receivable, Part IV (Deta

Loans Receivable, Part IV (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 1,114,934,000	$ 1,094,990,000
Loans requiring an officers' loans committee review and approval, minimum	500,000	500,000
Minimum amount of potential loan exposure to be reviewed by credit management personnel	$ 1,000,000	$ 1,000,000
Maximum period of time loan is reviewed if renewed (in years)	1 year	1 year
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	$ 9,600,000	$ 22,484,000
Total Impaired, with no Reserve, Recorded Investment	17,945,000	28,818,000
Total Impaired, Recorded Investment	27,545,000	51,302,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	11,142,000	27,386,000
Total Impaired with no Reserve, Unpaid Principal Balance	20,499,000	32,564,000
Total Impaired, Unpaid Principal Balance, Total	31,641,000	59,950,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	1,576,000	3,726,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	1,576,000	3,726,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	1,542,000	4,902,000
Total Impaired with no Reserve, Cumulative Charge-offs	2,554,000	3,746,000
Total Impaired, Cumulative Charge-offs	4,096,000	8,648,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	9,858,000	33,183,000
Total Impaired with no Reserve, Average Recorded Investment	18,403,000	40,437,000
Total Impaired, Average Recorded Investment, Total	28,261,000	73,620,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	469,000	828,000
Total Impaired with no Reserve, Interest Paid YTD	894,000	1,417,000
Total Impaired, Interest Paid YTD	1,363,000	2,245,000
One-to Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	381,992,000	411,979,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	7,903,000	11,864,000
Total Impaired, with no Reserve, Recorded Investment	10,482,000	17,645,000
Total Impaired, Recorded Investment	18,385,000	29,509,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	8,923,000	13,345,000
Total Impaired with no Reserve, Unpaid Principal Balance	11,991,000	19,795,000
Total Impaired, Unpaid Principal Balance, Total	20,914,000	33,140,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	1,114,000	2,386,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	1,114,000	2,386,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	1,020,000	1,481,000
Total Impaired with no Reserve, Cumulative Charge-offs	1,509,000	2,150,000
Total Impaired, Cumulative Charge-offs	2,529,000	3,631,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	8,113,000	15,982,000
Total Impaired with no Reserve, Average Recorded Investment	10,676,000	23,215,000
Total Impaired, Average Recorded Investment, Total	18,789,000	39,197,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	393,000	515,000
Total Impaired with no Reserve, Interest Paid YTD	500,000	860,000
Total Impaired, Interest Paid YTD	893,000	1,375,000
Over Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	547,250,000	522,281,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	1,055,000	7,438,000
Total Impaired, with no Reserve, Recorded Investment	4,045,000	8,124,000
Total Impaired, Recorded Investment	5,100,000	15,562,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	1,055,000	10,285,000
Total Impaired with no Reserve, Unpaid Principal Balance	5,090,000	9,364,000
Total Impaired, Unpaid Principal Balance, Total	6,145,000	19,649,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	242,000	731,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	242,000	731,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	2,847,000
Total Impaired with no Reserve, Cumulative Charge-offs	1,045,000	1,240,000
Total Impaired, Cumulative Charge-offs	1,045,000	4,087,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	1,044,000	12,720,000
Total Impaired with no Reserve, Average Recorded Investment	4,106,000	12,693,000
Total Impaired, Average Recorded Investment, Total	5,150,000	25,413,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	42,000	177,000
Total Impaired with no Reserve, Interest Paid YTD	245,000	439,000
Total Impaired, Interest Paid YTD	287,000	616,000
Home Equity [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	24,326,000	29,207,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	169,000	144,000
Total Impaired, with no Reserve, Recorded Investment	303,000	445,000
Total Impaired, Recorded Investment	472,000	589,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	169,000	144,000
Total Impaired with no Reserve, Unpaid Principal Balance	303,000	445,000
Total Impaired, Unpaid Principal Balance, Total	472,000	589,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	108,000	63,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	108,000	63,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	174,000	195,000
Total Impaired with no Reserve, Average Recorded Investment	307,000	554,000
Total Impaired, Average Recorded Investment, Total	481,000	749,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	10,000	7,000
Total Impaired with no Reserve, Interest Paid YTD	13,000	15,000
Total Impaired, Interest Paid YTD	23,000	22,000
Construction and Land [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	19,148,000	17,081,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	156,000	47,000
Total Impaired, with no Reserve, Recorded Investment	1,639,000	2,219,000
Total Impaired, Recorded Investment	1,795,000	2,266,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	269,000	61,000
Total Impaired with no Reserve, Unpaid Principal Balance	1,639,000	2,332,000
Total Impaired, Unpaid Principal Balance, Total	1,908,000	2,393,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	3,000	13,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	3,000	13,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	113,000	14,000
Total Impaired with no Reserve, Cumulative Charge-offs	0	113,000
Total Impaired, Cumulative Charge-offs	113,000	127,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	155,000	63,000
Total Impaired with no Reserve, Average Recorded Investment	1,827,000	3,379,000
Total Impaired, Average Recorded Investment, Total	1,982,000	3,442,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	62,000	97,000
Total Impaired, Interest Paid YTD	62,000	97,000
Commercial Real Estate [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	118,820,000	94,771,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	314,000	2,984,000
Total Impaired, with no Reserve, Recorded Investment	1,452,000	93,000
Total Impaired, Recorded Investment	1,766,000	3,077,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	723,000	3,544,000
Total Impaired with no Reserve, Unpaid Principal Balance	1,452,000	93,000
Total Impaired, Unpaid Principal Balance, Total	2,175,000	3,637,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	106,000	526,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	106,000	526,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	409,000	560,000
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	409,000	560,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	367,000	4,211,000
Total Impaired with no Reserve, Average Recorded Investment	1,458,000	126,000
Total Impaired, Average Recorded Investment, Total	1,825,000	4,337,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	23,000	128,000
Total Impaired with no Reserve, Interest Paid YTD	72,000	4,000
Total Impaired, Interest Paid YTD	95,000	132,000
Consumer [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	361,000	200,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	0	0
Total Impaired, Recorded Investment	0	0
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	0	0
Total Impaired, Unpaid Principal Balance, Total	0	0
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	0
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	0
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	0	0
Total Impaired, Average Recorded Investment, Total	0	0
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	0	0
Total Impaired, Interest Paid YTD	0	0
Commercial Loans [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	23,037,000	19,471,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	3,000	7,000
Total Impaired, with no Reserve, Recorded Investment	24,000	292,000
Total Impaired, Recorded Investment	27,000	299,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	3,000	7,000
Total Impaired with no Reserve, Unpaid Principal Balance	24,000	535,000
Total Impaired, Unpaid Principal Balance, Total	27,000	542,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	3,000	7,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	3,000	7,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	243,000
Total Impaired, Cumulative Charge-offs	0	243,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	5,000	12,000
Total Impaired with no Reserve, Average Recorded Investment	29,000	470,000
Total Impaired, Average Recorded Investment, Total	34,000	482,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	1,000	1,000
Total Impaired with no Reserve, Interest Paid YTD	2,000	2,000
Total Impaired, Interest Paid YTD	3,000	3,000
Substandard [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	26,000,000	47,849,000
Substandard [Member] | One-to Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	19,148,000	28,945,000
Substandard [Member] | Over Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	2,553,000	12,638,000
Substandard [Member] | Home Equity [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	684,000	624,000
Substandard [Member] | Construction and Land [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	1,794,000	2,266,000
Substandard [Member] | Commercial Real Estate [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	1,766,000	3,077,000
Substandard [Member] | Consumer [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	0	0
Substandard [Member] | Commercial Loans [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	55,000	299,000
Watch [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	16,677,000	22,530,000
Watch [Member] | One-to Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	11,352,000	10,779,000
Watch [Member] | Over Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	3,634,000	7,070,000
Watch [Member] | Home Equity [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	128,000	278,000
Watch [Member] | Construction and Land [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	0	1,377,000
Watch [Member] | Commercial Real Estate [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	1,161,000	2,186,000
Watch [Member] | Consumer [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	0	0
Watch [Member] | Commercial Loans [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	402,000	840,000
Pass [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	1,072,257,000	1,024,611,000
Pass [Member] | One-to Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	351,492,000	372,255,000
Pass [Member] | Over Four-Family [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	541,063,000	502,573,000
Pass [Member] | Home Equity [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	23,514,000	28,305,000
Pass [Member] | Construction and Land [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	17,354,000	13,438,000
Pass [Member] | Commercial Real Estate [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	115,893,000	89,508,000
Pass [Member] | Consumer [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	361,000	200,000
Pass [Member] | Commercial Loans [Member]
Loans Receivable, Recorded Investment [Line Items]
Loans receivable, net	$ 22,580,000	$ 18,332,000

Loans Receivable, Part V (Detai

Loans Receivable, Part V (Details)	12 Months Ended
	Dec. 31, 2015USD ($)LoanPayment	Dec. 31, 2014USD ($)Loan
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 17,539,000	$ 26,117,000
Total number of troubled debt restructurings | Loan	62	77
Valuation allowance with respect to troubled debt restructurings	$ 996,000	$ 1,500,000
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 16,527,000	$ 20,671,000
Number of loans performing in accordance with modified terms (in loans) | Loan	57	50
Loans Receivable, Modifications, Loans in Default	$ 1,012,000	$ 5,446,000
Number of Loans in Default (in loans) | Loan	5	27
Loans Receivable, Modifications, Total	$ 17,539,000	$ 26,117,000
Number of Loans, Total (in loans) | Loan	62	77
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 1,005,000	$ 5,680,000
Number of loans modified as a troubled debt restructuring (in loans) | Loan	5	21
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 17,604,000	$ 38,011,000
Ratio of total non-accrual loans to total loans, net of allowance (in hundredths)	1.58%	3.47%
Ratio of total non-accrual loans to total assets (in hundredths)	1.00%	2.13%
One-to Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 9,639,000	$ 14,957,000
Total number of troubled debt restructurings | Loan	49	63
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 186,000	$ 2,939,000
Number of loans modified as a troubled debt restructuring (in loans) | Loan	3	14
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 13,888,000	$ 23,918,000
Over Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 4,863,000	$ 7,720,000
Total number of troubled debt restructurings | Loan	8	9
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 819,000	$ 1,337,000
Number of loans modified as a troubled debt restructuring (in loans) | Loan	2	5
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 2,553,000	$ 12,001,000
Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 98,000	$ 98,000
Total number of troubled debt restructurings | Loan	1	1
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 0	$ 98,000
Number of loans modified as a troubled debt restructuring (in loans) | Loan	0	1
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 437,000	$ 445,000
Construction and Land [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,556,000	$ 1,866,000
Total number of troubled debt restructurings | Loan	2	2
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 239,000	$ 401,000
Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,383,000	$ 1,476,000
Total number of troubled debt restructurings | Loan	2	2
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 0	$ 1,306,000
Number of loans modified as a troubled debt restructuring (in loans) | Loan	0	1
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 460,000	$ 947,000
Consumer [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	0	0
Commercial Loans [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 27,000	299,000
Minimum [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Period of principal forbearance, reduction in interest rate or both included in typical restructured terms (in months)	6 months
Minimum number of consecutive contractual payments received prior to consideration for a return to accrual status (in payments) | Payment	6
Maximum [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Period of principal forbearance, reduction in interest rate or both included in typical restructured terms (in months)	12 months
Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 9,308,000	$ 10,819,000
Total number of troubled debt restructurings | Loan	8	13
Accruing [Member] | One-to Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 3,900,000	$ 4,724,000
Total number of troubled debt restructurings | Loan	4	8
Accruing [Member] | Over Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,546,000	$ 2,923,000
Total number of troubled debt restructurings | Loan	1	2
Accruing [Member] | Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 0	$ 0
Total number of troubled debt restructurings | Loan	0	0
Accruing [Member] | Construction and Land [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,556,000	$ 1,866,000
Total number of troubled debt restructurings | Loan	2	2
Accruing [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,306,000	$ 1,306,000
Total number of troubled debt restructurings | Loan	1	1
Non-accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 8,231,000	$ 15,298,000
Total number of troubled debt restructurings | Loan	54	64
Non-accruing [Member] | One-to Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 5,739,000	$ 10,233,000
Total number of troubled debt restructurings | Loan	45	55
Non-accruing [Member] | Over Four-Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,317,000	$ 4,797,000
Total number of troubled debt restructurings | Loan	7	7
Non-accruing [Member] | Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 98,000	$ 98,000
Total number of troubled debt restructurings | Loan	1	1
Non-accruing [Member] | Construction and Land [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 0	$ 0
Total number of troubled debt restructurings | Loan	0	0
Non-accruing [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 77,000	$ 170,000
Total number of troubled debt restructurings | Loan	1	1
Interest Reduction and Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 13,971,000	$ 15,306,000
Number of loans performing in accordance with modified terms (in loans) | Loan	30	36
Loans Receivable, Modifications, Loans in Default	$ 1,012,000	$ 2,014,000
Number of Loans in Default (in loans) | Loan	5	7
Loans Receivable, Modifications, Total	$ 14,983,000	$ 17,320,000
Number of Loans, Total (in loans) | Loan	35	43
Interest Reduction [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 2,459,000	$ 4,875,000
Number of loans performing in accordance with modified terms (in loans) | Loan	26	11
Loans Receivable, Modifications, Loans in Default	$ 0	$ 800,000
Number of Loans in Default (in loans) | Loan	0	19
Loans Receivable, Modifications, Total	$ 2,459,000	$ 5,675,000
Number of Loans, Total (in loans) | Loan	26	30
Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 97,000	$ 490,000
Number of loans performing in accordance with modified terms (in loans) | Loan	1	3
Loans Receivable, Modifications, Loans in Default	$ 0	$ 2,632,000
Number of Loans in Default (in loans) | Loan	0	1
Loans Receivable, Modifications, Total	$ 97,000	$ 3,122,000
Number of Loans, Total (in loans) | Loan	1	4

Office Properties and Equipme57

Office Properties and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 49,313	$ 50,866
Less accumulated depreciation	(23,985)	(25,304)
Office properties and equipment, net	25,328	25,562
Depreciation of premises and equipment	3,106	3,283	$ 2,717
Rent expense totaled	3,800	4,500	$ 3,300
Minimum annual commitments under all non-cancelable lease agreements [Abstract]
Within one year	2,899
One to two years	2,223
Two to three years	1,727
Three to four years	1,197
Four through five years	931
After five years	2,175
Total	11,152
Land [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	6,668	6,442
Office buildings and improvements [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	29,990	28,085
Furniture and equipment [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 12,655	$ 16,339

Real Estate Owned (Details)

Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate Owned [Line Items]
Real estate owned	$ 9,190	$ 18,706	$ 22,663
Mortgage loans transferred to real estate owned upon completion of foreclosure	15,580	16,645
Sales of real estate owned	(23,413)	(19,057)
Write downs of real estate owned	(2,202)	(1,523)
Other Real Estate Owned	519	(22)
One- to four-family [Member]
Real Estate Owned [Line Items]
Real estate owned	4,610	10,896
Over four-family [Member]
Real Estate Owned [Line Items]
Real estate owned	209	2,210
Construction and land [Member]
Real Estate Owned [Line Items]
Real estate owned	5,262	5,400
Commercial Real Estate [Member]
Real Estate Owned [Line Items]
Real estate owned	300	300
Real Estate Owned Prior To Val Allow [Member]
Real Estate Owned [Line Items]
Real estate owned	10,381	18,806
Valuation Allowance, Real Estate Owned [Member]
Real Estate Owned [Line Items]
Real estate owned	$ (1,191)	$ (100)

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage servicing rights [Roll Forward]
Mortgage servicing rights, beginning balance	$ 2,511,000	$ 3,377,000
Additions	3,838,000	4,181,000
Amortization	(481,000)	(435,000)
Sales Of Mortgage Servicing Rights	(4,446,000)	(4,602,000)
Mortgage servicing rights, ending balance	1,422,000	2,521,000
Valuation allowance at period end	0	(10,000)
Mortgage servicing rights, end of period net	1,422,000	2,511,000	$ 3,377,000
MSR Sales [Abstract]
Loans Originated for Sale - Residential		2,000,000,000	1,700,000,000
Sales of loans held for sale		1,900,000,000	1,600,000,000
Generated mortgage banking income		101,500,000	$ 78,000,000
Loans sold on a servicing retained basis	176,400,000	$ 308,100,000
Sold mortgage servicing rights	580,200,000
Mortgage servicing rights book value	4,400,000
Mortgage servicing rights sold	5,300,000
Gain on sale of MSR	901,000
Mortgage Servicing Rights [Member]
Estimated future servicing rights amortization expense by period [Abstract]
2,015	212,000
2,016	194,000
2,017	176,000
2,018	157,000
2,019	141,000
Thereafter	542,000
Total	$ 1,422,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deposits [Abstract]
Time deposits, greater than $250,000	$ 37,700	$ 34,600
Summary of interest expense on deposits [Abstract]
Interest-bearing demand deposits	20	16	$ 13
Money market and savings deposits	197	113	132
Time deposits	5,662	4,797	5,070
Interest expense on deposits	5,879	4,926	$ 5,215
Summary of the contractual maturities of time deposits [Abstract]
Within one year	508,357
More than one to two years	125,148
More than two to three years	9,749
More than three to four years	2,971
More than four through five years	3,832
Time deposits	$ 650,057	$ 652,635

Borrowings (Details)

Borrowings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Loan	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Short-term Debt [Line Items]
Short-term borrowings	$ 7,203	$ 0
Weighted average rate (in hundredths)	3.19%	0.00%
Long-term Debt [Line Items]
Long-term borrowings	$ 441,203	$ 434,000
Total debt	$ 441,203	$ 434,000
Weighted average rate (in hundredths)	3.88%	3.89%
Total commitment on repurchase agreements	$ 35,000	$ 35,000
First Repurchase Agreement [Member]
Long-term Debt [Line Items]
Repurchase agreement outstanding balance	$ 7,200	$ 17,500
Interest rate (in hundredths)	319.00%	3.17%
Total commitment on repurchase agreements	$ 35,000	$ 35,000
Second Repurchase Agreement [Member]
Long-term Debt [Line Items]
Repurchase agreement outstanding balance
Interest rate (in hundredths)
Total commitment on repurchase agreements
Percentage of carrying value of qualifying unencumbered mortgage loans (in hundredths)	80.00%
Percentage of carrying value of qualifying home equity loans (in hundredths)	51.00%
Percentage of carrying value of qualifying of over four-family loans (in hundredths)	75.00%
FHLBC stock as collateral	$ 19,500	17,500
FHLB, Chicago, Advances, Maturing 2016 [Member]
Long-term Debt [Line Items]
Long-term borrowings	$ 220,000	$ 220,000
FHLB, weighted average rate (in hundredths)	4.34%	4.34%
FHLB, year of maturity	2,016
Number of Federal Home Loan Bank Advances (in loans) | Loan	8
FHLB, interest rate, minimum (in hundredths)	4.01%
FHLB, interest rate, maximum (in hundredths)	4.82%
FHLB, Chicago, Advances, Maturing 2017 [Member]
Long-term Debt [Line Items]
Long-term borrowings	$ 65,000	$ 65,000
FHLB, weighted average rate (in hundredths)	3.19%	3.19%
FHLB, year of maturity	2,017
Number of Federal Home Loan Bank Advances (in loans) | Loan	3
FHLB, interest rate, minimum (in hundredths)	3.09%
FHLB, interest rate, maximum (in hundredths)	3.46%
FHLB, Chicago, Advances, Maturing 2018 [Member]
Long-term Debt [Line Items]
Long-term borrowings	$ 65,000	$ 65,000
FHLB, weighted average rate (in hundredths)	2.97%	2.97%
FHLB, year of maturity	2,018
Number of Federal Home Loan Bank Advances (in loans) | Loan	3
FHLB, interest rate, minimum (in hundredths)	2.73%
FHLB, interest rate, maximum (in hundredths)	3.11%
Repurchase Agreements Maturing 2018 [Member]
Long-term Debt [Line Items]
Long-term borrowings	$ 84,000	$ 84,000
Weighted average rate (in hundredths)	3.96%	3.96%
FHLB, year of maturity	2,017
Interest rate, minimum (in hundredths)	2.89%
Interest rate, maximum (in hundredths)	4.31%
Available for sale securities as collateral	$ 94,100

Regulatory Capital (Details)

Regulatory Capital (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Actual [Abstract]
Total capital (to risk-weighted assets)	$ 374,435	$ 357,514
Holding Co - Total Capital (to risk-weighted assets)	405,947
Tier I capital (to risk-weighted assets)	359,284	343,483
Holding Co - Tier I capital (to risk-weighted assets)	390,747
Common Equity Tier 1 Capital (to risk-weighted assets)	359,284
Holding Co - Common Equity Tier 1 Capital (to risk-weighted assets)	$ 390,747
Common Equity Tier 1 capital (to risk-weighted assets) (in hundredths)	29.67%
Holding Co - Common Equity Tier 1 capital (to risk-weight assets) (in hundredths)	32.16%
Common Equity Tier I capital (to risk weighted assets) Capital Adequacy	$ 54,498
Holding Co - Common Equity Tier I capital ( to risk weighted assets) Capital Adequacy	$ 54,679
Common Equity Tier I capital ( to risk-weighted) (in hundredths) Capital Adequacy	4.50%
Holding Co - Common Equity Tier I Capital (to risk-weighted assets) (in hundredths) Capital Adequacy	4.50%
Common Equity Tier I capital (to risk-weighted assets) Well-Capitalized	$ 78,719
Common Equity Tier I capital (to risk-weighted) (in hundredths) Well-Capitalized	6.50%
Tier I capital (to average assets)	$ 359,284	343,483
Holding Co - Tier I capital ( to average assets)	390,747
State of Wisconsin (to total assets)	$ 359,284	$ 343,483
Total capital (to risk-weighted assets) (in hundredths)	30.92%	31.98%
Holding Co - Total capital (to risk-weighted assets) (in hundredths)	33.41%
Tier I capital (to risk-weighted assets) (in hundredths)	29.67%	30.73%
Holding Co - Tier I capital (to risk-weighted assets) (in hundredths)	32.16%
Tier I capital (to average assets) (in hundredths)	20.45%	19.04%
Holding Co - Tier I capital ( to average assets) (in hundredths)	22.20%
State of Wisconsin (to total assets) (in hundredths)	20.43%	19.33%
For Capital Adequacy Purposes [Abstract]
Total capital (to risk-weighted assets)	$ 96,885	$ 89,428
Holding Co - Total Capital (to risk) Capital Adequacy	97,207
Tier I capital (to risk-weighted assets)	72,664	44,714
Holding Co - Tier I capital (to risk) Capital Adequacy	72,905
Tier I capital (to average assets)	70,286	72,175
Holding Co - Tier I capital (to average assets) Capital Adequacy	70,417
State of Wisconsin (to total assets)	$ 105,493	$ 106,643
Total capital (to risk-weighted assets) (in hundredths)	8.00%	8.00%
Holding Co - Total capital (to risk weighted) (in hundredths) Capital Adequacey	8.00%
Tier I capital (to risk-weighted assets) (in hundredths)	6.00%	4.00%
Holding Co - Tier I capital (to risk weighted) (in hundredths) Capital Adequacy	6.00%
Tier I capital (to average assets) (in hundredths)	4.00%	4.00%
Holding Co - Tier I capital (to average assets) (in hundredths) Capital Adequacy	4.00%
State of Wisconsin (to total assets) (in hundredths)	6.00%	6.00%
To Be Well-Capitalized Under Prompt Corrective Action Provisions [Abstract]
Total capital (to risk-weighted assets)	$ 121,106	$ 111,785
Tier I capital (to risk-weighted assets)	96,885	67,071
Tier I capital (to average assets)	$ 87,857	$ 90,219
Total capital (to risk-weighted assets) (in hundredths)	10.00%	10.00%
Tier I capital (to risk-weighted assets) (in hundredths)	8.00%	6.00%
Tier I capital (to average assets) (in hundredths)	5.00%	5.00%

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock option activity shares [Roll Forward]
Outstanding, beginning balance (in shares)	970,747	1,098,947	1,119,795
Options exercisable, beginning balance (in shares)	824,803	870,707	816,939
Granted (in shares)	1,210,000	0	0
Exercised (in shares)	(62,276)	(31,624)	(1,097)
Forfeited (in shares)	(15,424)	(96,576)	(19,751)
Outstanding, ending balance (in shares)	2,103,047	970,747	1,098,947	1,119,795
Options exercisable, ending balance (in shares)	810,255	824,803	870,707	816,939
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning balance (in dollars per share)	$ 12.33	$ 12.11	$ 11.95
Outstanding, beginning balance (in dollars per share)	14.16	14.23	15.12
Granted (in dollars per share)	12.79	0	0
Exercised (in dollars per share)	1.90	1.73	1.72
Forfeited (in dollars per share)	13.42	13.33	4.63
Outstanding, beginning balance (in dollars per share)	12.90	14.16	14.23	$ 15.12
Outstanding, ending balance (in dollars per share)	$ 14.25	$ 12.33	$ 12.11	$ 11.95
Weighted Average Years Remaining in Contractual Term [Abstract]
Outstanding, Weighted Average Years Remaining in Contractual Term	6 years 1 month 24 days	3 years 3 months 25 days	4 years 2 months 5 days	5 years 8 months 8 days
Options exercisable, Weighted Average Years Remaining in Contractual Term	1 year 7 months 17 days	2 years 8 months 1 day	3 years 3 months 11 days	4 years 3 months 22 days
Aggregate Intrinsic Value [Abstract]
Outstanding, Aggregate Intrinsic Value, beginning period	$ 797,000	$ 2,744,000	$ 1,622,000
Options exercisable, Aggregate Intrinsic Value, beginning period	(829,000)	636,000	80,000
Granted, Aggregate Intrinsic Value	1,584,000	0	0
Exercised, Aggregate Intrinsic Value	760,000	361,000	(9,000)
Forfeited, Aggregate Intrinsic Value	10,000	(18,000)	(112,000)
Outstanding, Aggregate Intrinsic Value, ending period	2,533,000	797,000	2,744,000	$ 1,622,000
Options exercisable, Aggregate Intrinsic Value, ending period	$ (123,000)	$ (829,000)	$ 636,000	$ 80,000
Summary of stock options oustanding
Options Outstanding Summary	2,103,047
Options Weighted Average Exercise Price on Stock Options	$ 12.90
Options Outstanding Remaining Life Years	6 years 1 month 24 days
Options Exercisable Range of Exercise Prices	810,255
Options Exercisable Weighted Average Exercise Price	$ 14.25
Options Exercisable Remaining Life Years	1 year 7 months 17 days
Nonvested stock option and restricted stock shares [Roll Forward]
Granted (in shares)	1,210,000	0	0
Vested (in shares)	8,229	82,297	7,681
Forfeited (in shares)	15,424	96,576	19,751
Exercised (in shares)	62,276	31,624	1,097
Forfeited (in shares)	(15,424)	(96,576)	(19,751)
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Share-based compensation expense	$ 580,000	$ 80,000	$ 81,000
Minimum on Stock Based Compensation [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield (in hundredths)			1.45%
Risk-free interest rate (in hundredths)			1.60%
Expected volatility (in hundredths)			28.24%
Weighted average expected life (in years)			4 years 6 months
Weighted average per share value of options (in dollars per share)			$ 3.08
Maximum on Stock Based Compensation [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield (in hundredths)			1.57%
Risk-free interest rate (in hundredths)			1.72%
Expected volatility (in hundredths)			31.88%
Weighted average expected life (in years)			5 years
Weighted average per share value of options (in dollars per share)			$ 3.24
2006 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years
Award grant life (in years)	10 years
1 Cent to Five Dollars Range of Exercise Prices [Member]
Summary of stock options oustanding
Options Outstanding Summary	195,781
Options Weighted Average Exercise Price on Stock Options	$ 2.31
Options Outstanding Remaining Life Years	5 years 8 months 12 days
Options Exercisable Range of Exercise Prices	107,989
Options Exercisable Weighted Average Exercise Price	$ 2.71
Options Exercisable Remaining Life Years	5 years 5 months 1 day
501 to 1000 Range of Exercise Prices [Member]
Summary of stock options oustanding
Options Outstanding Summary	0
Options Weighted Average Exercise Price on Stock Options	$ 0
Options Outstanding Remaining Life Years	0 years
Options Exercisable Range of Exercise Prices	0
Options Exercisable Weighted Average Exercise Price	$ 0
Options Exercisable Remaining Life Years	0 years
1001 to 1500 Range of Exercise Prices [Member]
Summary of stock options oustanding
Options Outstanding Summary	1,215,973
Options Weighted Average Exercise Price on Stock Options	$ 12.78
Options Outstanding Remaining Life Years	9 years 1 month 20 days
Options Exercisable Range of Exercise Prices	10,973
Options Exercisable Weighted Average Exercise Price	$ 11.65
Options Exercisable Remaining Life Years	1 year 11 months 16 days
Over 1501 Range of Exercise Prices [Member]
Summary of stock options oustanding
Options Outstanding Summary	691,293
Options Weighted Average Exercise Price on Stock Options	$ 16.10
Options Outstanding Remaining Life Years	1 year 11 days
Options Exercisable Range of Exercise Prices	691,293
Options Exercisable Weighted Average Exercise Price	$ 16.10
Options Exercisable Remaining Life Years	1 year 11 days
Stock Options [Member]
Weighted Average Exercise Price [Roll Forward]
Granted (in dollars per share)		$ 0
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	145,944	228,238
Granted (in shares)	1,210,000	0
Vested (in shares)	(55,957)	(62,543)
Forfeited (in shares)	(7,195)	(19,751)
Nonvested, ending period (in shares)	1,292,792	145,944	228,238
Forfeited (in shares)	7,195	19,751
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Nonvested, beginning period (in dollars per share)	$ 1.32	$ 1.33
Granted (in dollars per share)	3.23	0
Vested (in dollars per share)	2.20	1.41
Forfeited (in dollars per share)	3.19	1.14
Nonvested, ending period (in dollars per share)	$ 3.09	$ 1.32	$ 1.33
Unrecognized stock based compensation expense	$ 3,400,000
Unrecognized stock based compensation expense recognize period (in months)	68 months
Restricted Stock [Member]
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	49,380
Granted (in shares)	549,500	0
Vested (in shares)	(110,559)	(21,945)	87,784
Forfeited (in shares)	0	(16,459)
Nonvested, ending period (in shares)	488,321	49,380
Forfeited (in shares)	0	16,459
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Nonvested, beginning period (in dollars per share)	$ 1.73
Granted (in dollars per share)	12.77	$ 0
Vested (in dollars per share)	11.11	1.73	$ 1.72
Forfeited (in dollars per share)	0	1.73
Nonvested, ending period (in dollars per share)	$ 12.03	$ 1.73
Share-based compensation expense	$ 2,200,000	$ 28,000	$ 45,000
Unrecognized stock based compensation expense	$ 4,800,000	$ 57,000
Unrecognized stock based compensation expense recognize period (in months)	51 months	24 months

Employee Benefit Plans (Details

Employee Benefit Plans (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Employee	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Defined Benefit Plan Disclosure [Line Items]
Minimum age criteria for participation in benefit plan (in years)	18 years	18 years	18 years
Contributions to the Plans	$ 595,000	$ 488,000	$ 486,000
Number of employees under nonqualified salary continuation plan (in employees) | Employee	1
Defined Contribution Plan period under nonqualified salary continuation plan (in years)	10 years
Accrued liability	$ 228,000	384,000	535,000
Death benefit under nonqualified salary continuation plan	7,400,000
Cash surrender value of life insurance	4,300,000	3,900,000	$ 3,600,000
Expense for compensation	$ 0	$ 0
Waterstone Mortgage [Member]
Defined Benefit Plan Disclosure [Line Items]
Minimum age criteria for participation in benefit plan (in years)	18 years

Employee Stock Ownership Plan65

Employee Stock Ownership Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2005
Employee Stock Ownership Plan [Abstract]
Minimum employee age (in years)	21 years
Minimum employee tenure (in months)	12 months
Minimum service hour required for employee stock option plan (in hours)	1000 hours
Borrowings under stock ownership plan	$ 23,800,000
Common stock open market purchase (in shares)				835,610
Amount of share released	one-twentieth
Tenure of shares earned (in years)	20 years
Compensation expense attributed to the ESOP	$ 1,400,000	$ 1,200,000	$ 719,000
Aggregate activity of unearned ESOP shares [Abstract]
Beginning ESOP shares (in shares)	2,002,183	83,561
Shares purchased under 2014 plan	0	2,024,000
Shares committed to be released (in shares)	(105,378)	(105,378)
Unreleased shares (in shares)	1,896,805	2,002,183
Fair value of unreleased shares	$ 26,700,000	$ 26,200,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current [Abstract]
Federal	$ 8,061,000	$ 3,158,000	$ 2,842,000
State	1,342,000	301,000	385,000
Current Total	9,403,000	3,459,000	3,227,000
Deferred [Abstract]
Federal	(447,000)	2,578,000	3,861,000
State	293,000	1,138,000	1,533,000
Deferred Total	(154,000)	3,716,000	5,394,000
Total	9,249,000	7,175,000	8,621,000
Differential income tax provisions computed at the Federal statutory corporate tax rate [Abstract]
Income (loss) before income tax	25,819,000	19,907,000	23,329,000
Tax at Federal statutory rate (35%)	9,037,000	6,967,000	8,165,000
Add (deduct) effect of [Abstract]
State income taxes net of Federal income tax benefit (expense)	1,063,000	936,000	1,246,000
Cash surrender value of life insurance	(496,000)	(451,000)	(376,000)
Non-deductible ESOP and stock option expense	181,000	39,000	(62,000)
Tax-exempt interest income	(552,000)	(514,000)	(392,000)
Reversal of federal valuation allowance on deferred taxes	154,000	170,000	0
Increase in tax exposure reserve	(185,000)	0	0
Other	47,000	28,000	40,000
Total	$ 9,249,000	$ 7,175,000	$ 8,621,000
Federal statutory rate (in hundredths)	35.00%	35.00%	35.00%
Effective tax rate (in hundredths)	35.80%	36.00%	37.00%
Number of prior periods of cumulative losses included in examples of negative evidence
Number of most recent periods of cumulative loss used as negative evidence in determining necessity of valuation allowance
Federal and state income tax benefit
Gross deferred tax assets [Abstract]
Excess book depreciation	$ 765,000	$ 290,000
Compensation agreements	96,000	149,000
Restricted stock and stock options	1,363,000	911,000
Allowance for loan losses	6,285,000	7,272,000
Repurchase reserve for loans sold	192,000	145,000
Real estate owned write-downs	1,643,000	1,001,000
Interest recognized for tax but not books	709,000	1,371,000
Federal NOL carryforward	441,000	465,000
State NOL carryforward	0	230,000
Unrealized loss on impaired securities	45,000	45,000
Other	165,000	87,000
Total gross deferred tax assets	11,704,000	11,966,000
Gross deferred tax liabilities [Abstract]
Unrealized gain on securities available for sale, net	(701,000)	(1,130,000)
Mortgage Servicing Rights	(575,000)	(1,019,000)
FHLB stock dividends	(728,000)	(729,000)
Deferred loan fees	(738,000)	(708,000)
Deferred liabilities	(2,742,000)	(3,586,000)
Net deferred tax assets	8,962,000	8,380,000
Operating Loss Carryforwards [Line Items]
Retained earnings excluding federal or state taxes	16,700,000
Reconciliation of the beginning and ending amount of unrecognized tax benefits [Roll Forward]
Balance at January 1	0	0
Increases related to prior year tax positions	0	0
Increases related to current year tax positions	0	0
Decreases related to prior year tax positions	0	0
Balance at December 31	0	0	$ 0
Income tax interest or penalties	0	0	0
Income tax interest or penalties accrued	$ 0	$ 0	$ 0
Federal [Member]
Operating Loss Carryforwards [Line Items]
NOL Carryforwards
Wisconsin [Member]
Operating Loss Carryforwards [Line Items]
NOL Carryforwards	$ 30,000
Operating Loss Carryforwards, Expiration Year	2,028

Offsetting of Assets and Liab67

Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Repo-Net Amount [Member]
Schedule of Liabilities subject to netting agreement [Line Items]
Repurchase Agreement Totals	$ 0	$ 0
Short-term Repurchase Agreements	0	0
Long term repurchase agreements	0	0
Repo-Gross Recognized Liabilities [Member]
Schedule of Liabilities subject to netting agreement [Line Items]
Repurchase Agreement Totals	91,203	84,000
Short-term Repurchase Agreements	7,203	0
Long term repurchase agreements	84,000	84,000
Gross Amounts Offset [Member]
Schedule of Liabilities subject to netting agreement [Line Items]
Repurchase Agreement Totals	0	0
Short-term Repurchase Agreements	0	0
Long term repurchase agreements	0	0
Net Amounts Presented [Member]
Schedule of Liabilities subject to netting agreement [Line Items]
Repurchase Agreement Totals	91,203	84,000
Short-term Repurchase Agreements	7,203	0
Long term repurchase agreements	84,000	84,000
Gross Amounts Not Offset [Member]
Schedule of Liabilities subject to netting agreement [Line Items]
Repurchase Agreement Totals	91,203	84,000
Short-term Repurchase Agreements	7,203	0
Long term repurchase agreements	$ 84,000	$ 84,000

Financial Instruments with Of68

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks liability amount	$ 566,000	$ 766,000
Probable losses	0	0
Commitments to Extend Credit Under Amortizing Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks asset amount	10,307,000	18,889,000
Commitments to Extend Credit Under Home Equity Lines of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks asset amount	14,173,000	14,775,000
Unused Portion of Construction Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks asset amount	25,545,000	12,333,000
Unused Portion of Business Lines of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks asset amount	$ 16,392,000	$ 11,599,000

Derivative Financial Instrume69

Derivative Financial Instruments (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Forward commitments to sell mortgage loans [Member]
Derivative [Line Items]
Aggregate notional amount of derivatives	$ 285,000,000
Cumulative net gain reported as a component of other assets	$ 125,000
Interest rate lock commitments [Member]
Derivative [Line Items]
Aggregate notional amount of derivatives
Cumulative net gain reported as a component of other assets

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale (at fair value)		$ 166,516	$ 125,073
Real Estate Owned, Fair Value Disclosure		9,200	18,700
Unrealized holding losses arising during the period [Abstract]
Ending balance		1,658
Loans and Leases Receivable, Impaired, Outstanding Balance		9,600	22,500
Loans and Leases Receivable, Impaired, Specific Reserve		1,600	3,700
Real Estate Owned, Change in Fair Value		2,200	1,500
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage Servicing Rights Fair Value		1,658
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage Servicing Rights Fair Value		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage Servicing Rights Fair Value		0
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities		96,667	117,128
Collateralized mortgage obligations, Government sponsored enterprise bonds		70,428	59,071
Government sponsored enterprise bonds		3,746	6,711
Municipal securities		79,159	77,108
Other debt securities		16,963	7,528
Certificates of deposit		2,695	5,897
Loans held for sale (at fair value)		166,516	125,073
Mortgage Banking Derivative Assets		2,313	1,644
Mortgage Banking Derivatives Liabilities		125	645
Impaired Loans, Fair Value Disclosure		8,000	18,758
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise bonds		0	0
Government sponsored enterprise bonds		0	0
Municipal securities		0	0
Other debt securities		2,600	2,550
Certificates of deposit		0	0
Loans held for sale (at fair value)		0	0
Mortgage Banking Derivative Assets		0	0
Mortgage Banking Derivatives Liabilities		0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities		96,667	117,128
Collateralized mortgage obligations, Government sponsored enterprise bonds		70,428	59,071
Government sponsored enterprise bonds		3,746	6,711
Municipal securities		79,159	77,108
Other debt securities		14,363	4,978
Certificates of deposit		2,695	5,897
Loans held for sale (at fair value)		166,516	125,073
Mortgage Banking Derivative Assets		0	0
Mortgage Banking Derivatives Liabilities		0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise bonds		0	0
Government sponsored enterprise bonds		0	0
Municipal securities		0	0
Other debt securities		0	0
Certificates of deposit		0	0
Loans held for sale (at fair value)		0	0
Mortgage Banking Derivative Assets		2,313	1,644
Mortgage Banking Derivatives Liabilities		125	645
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Fair Value Disclosure	[1]	8,024	18,758
Real Estate Owned, Fair Value Disclosure		9,190	18,706
Mortgage Servicing Rights Fair Value			9
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Fair Value Disclosure	[1]	0	0
Real Estate Owned, Fair Value Disclosure		0	0
Mortgage Servicing Rights Fair Value			0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Fair Value Disclosure	[1]	0	0
Real Estate Owned, Fair Value Disclosure		0	0
Mortgage Servicing Rights Fair Value			0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Fair Value Disclosure	[1]	8,024	18,758
Real Estate Owned, Fair Value Disclosure		9,190	18,706
Mortgage Servicing Rights Fair Value			9
Mortgage Banking Derivatives [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Beginning balance		999	1,189
Transfer into level 3		0	0
Unrealized holding losses arising during the period [Abstract]
Mortgage derivative gain, net		1,189	(190)
Ending balance		2,188	$ 999
Impaired Loans, Net [Member]
Unrealized holding losses arising during the period [Abstract]
Ending balance		8,024
Real Estate Owned [Member]
Unrealized holding losses arising during the period [Abstract]
Ending balance		$ 9,190
[1]	Represents collateral-dependent impaired loans, net, which are included in loans.

Fair Value Measurements, Valuat

Fair Value Measurements, Valuation Techniques (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,658,000
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	27.10%
Fair Value Inputs, Discount Rate	11.00%
Fair Value Inputs, Cost to Service	$ 339.90
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	7.50%
Fair Value Inputs, Discount Rate	10.00%
Fair Value Inputs, Cost to Service	$ 76.36
Mortgage Banking Derivatives [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 2,188,000	$ 999,000	$ 1,189,000
Mortgage Banking Derivatives [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Pull Through Rate (in hundredths)	100.00%
Mortgage Banking Derivatives [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Pull Through Rate (in hundredths)	50.00%
Impaired Loans, Net [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 8,024,000
Impaired Loans, Net [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	35.00%
Impaired Loans, Net [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	15.00%
Real Estate Owned [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 9,190,000
Real Estate Owned [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	85.70%
Real Estate Owned [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rates Applied to Appraisals (in hundredths)	0.00%

Fair Value Measurements, by Bal

Fair Value Measurements, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Securities available for sale	$ 269,658	$ 273,443
Loans held for sale (at fair value)	166,516	125,073
Real estate owned	9,200	18,700
Estimate of Fair Value, Fair Value Disclosure [Member]
Assets
Mortgage Servicing Rights Fair Value	1,658
Fair Value, Inputs, Level 1 [Member]
Assets
Mortgage Servicing Rights Fair Value	0
Fair Value, Inputs, Level 2 [Member]
Assets
Mortgage Servicing Rights Fair Value	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Assets
Cash and cash equivalents	100,471	172,820
Securities available for sale	269,658	273,443
Loans held for sale (at fair value)	166,516	125,073
Loans receivable, net	1,114,934	1,094,990
FHLB stock	19,500	17,500
Accrued interest receivable	4,108	4,029
Mortgage Servicing Rights Fair Value	1,422	2,511
Mortgage banking derivative assets	2,313	1,644
Liabilities:
Deposits	893,361	863,960
Advance payments by borrowers for taxes	3,661	4,991
Borrowings	441,203	434,000
Accrued interest payable	1,642	1,600
Mortgage banking derivative liabilities	125	645
Estimate of Fair Value, Fair Value Disclosure [Member]
Assets
Cash and cash equivalents	100,471	172,820
Securities available for sale	269,658	273,443
Loans held for sale (at fair value)	166,516	125,073
Loans receivable, net	1,165,370	1,184,398
FHLB stock	19,500	17,500
Accrued interest receivable	4,108	4,029
Mortgage Servicing Rights Fair Value		2,808
Mortgage banking derivative assets	2,313	1,644
Liabilities:
Deposits	894,015	866,173
Advance payments by borrowers for taxes	3,661	4,991
Borrowings	463,238	459,484
Accrued interest payable	1,642	1,600
Mortgage banking derivative liabilities	125	645
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]
Assets
Cash and cash equivalents	100,471	167,370
Securities available for sale	2,600	2,550
Loans held for sale (at fair value)	0	0
Loans receivable, net	0	0
FHLB stock	0	0
Accrued interest receivable	4,108	4,029
Mortgage Servicing Rights Fair Value		0
Mortgage banking derivative assets	0	0
Liabilities:
Deposits	243,304	211,325
Advance payments by borrowers for taxes	3,661	4,991
Borrowings	0	0
Accrued interest payable	1,642	1,600
Mortgage banking derivative liabilities	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Assets
Cash and cash equivalents	0	5,450
Securities available for sale	267,058	270,893
Loans held for sale (at fair value)	166,516	125,073
Loans receivable, net	0	0
FHLB stock	19,500	17,500
Accrued interest receivable	0	0
Mortgage Servicing Rights Fair Value		0
Mortgage banking derivative assets	0	0
Liabilities:
Deposits	650,711	654,848
Advance payments by borrowers for taxes	0	0
Borrowings	463,238	459,484
Accrued interest payable	0	0
Mortgage banking derivative liabilities	0	0
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 3 [Member]
Assets
Cash and cash equivalents	0	0
Securities available for sale	0	0
Loans held for sale (at fair value)	0	0
Loans receivable, net	1,165,370	1,184,398
FHLB stock	0	0
Accrued interest receivable	0	0
Mortgage Servicing Rights Fair Value	1,658	2,808
Mortgage banking derivative assets	2,313	1,644
Liabilities:
Deposits	0	0
Advance payments by borrowers for taxes	0	0
Borrowings	0	0
Accrued interest payable	0	0
Mortgage banking derivative liabilities	$ 125	$ 645

Earnings (loss) per share (Deta

Earnings (loss) per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Basic and diluted earnings per share calculations [Abstract]
Net income (loss)	$ 16,570	$ 12,732	$ 14,708
Net Income available to unvested restricted stockholders	19	19	38
Net Income (Loss) available to common stockholders	$ 16,551	$ 12,713	$ 14,670
Weighted average shares outstanding (in shares)	29,161,000	33,406,000	34,185,000
Effect of dilutive potential common shares (in shares)	270,000	237,000	254,000
Diluted weighted average shares outstanding (in shares)	29,431,000	33,643,000	34,439,000
Basic loss per share (in dollars per share)	$ 0.57	$ 0.38	$ 0.43
Diluted loss per share (in dollars per share)	$ 0.56	$ 0.38	$ 0.43
Nonvested Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		237,421	228,238
Nonvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	49,380	49,380	87,784

Condensed Parent Company Only74

Condensed Parent Company Only Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 100,471	$ 172,820
Securities available for sale (at fair value)	269,658	273,443
Total assets	1,762,729	1,783,380	$ 1,947,039
Liabilities [Abstract]
Other liabilities	32,574	30,192
Shareholders' equity [Abstract]
Preferred Stock (par value $.01 per share) Authorized - 50,000,000 shares in 2014 and 20,000,000 in 2013, no shares issued	0	0
Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2014 and 200,000,000 in 2013, Issued - 34,420,094 in 2014 and 34,073,670 in 2013, Outstanding - 34,420,094 in 2014 and 31,349,317 in 2013	294	344
Additional paid-in-capital	317,022	313,894
Retained earnings	168,089	157,304
Unearned ESOP shares	(21,365)	(22,552)
Treasury stock (0 in 2014 and 2,724,353 in 2013), at cost	(72,692)	0
Accumulated other comprehensive income (net of taxes)	582	1,247
Total shareholders' equity	391,930	450,237	214,472	$ 202,634
Total liabilities and shareholders' equity	$ 1,762,729	$ 1,783,380
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	29,407,455	34,420,094
Common stock - shares outstanding (in shares)	29,407,455	34,420,094
Treasury shares (in shares)	5,624,415	0
Statements of Operations [Abstract]
Interest income	$ 61,963	$ 63,634	62,864
Total income (loss)	38,844	41,307	39,206
Compensation	81,753	69,172	68,807
Professional fees	2,354	2,393	2,386
Other expense	11,701	12,123	10,871
Total expense	115,534	104,818	99,144
Income (loss) before income tax	25,819	19,907	23,329
Income tax benefit	9,249	7,175	8,621
Net income (loss)	16,570	12,732	14,708
Cash flows from operating activities [Abstract]
Net income (loss)	16,570	12,732	14,708
Adjustments to reconcile net loss to net cash provided by operating activities [Abstract]
Amortization of unearned ESOP shares	1,385	1,217	718
Stock based compensation	2,817	109	126
Deferred income taxes	(154)	3,716	5,394
Change in other assets and liabilities	(1,494)	6,925	(1,173)
Net cash (used in) provided by operating activities	(12,991)	(2,216)	52,284
Cash flows from investing activities [Abstract]
Proceeds from Sale of Available-for-sale Securities, Debt	1,034	0	921
Net cash used in investing activities	(16,128)	(75,248)	24,069
Parent Dividends Received from Subsidiary	4,678	0	0
Financing for cash dividends on common stock	(5,869)	(5,003)	0
Financing for purchase of ESOP	0	(22,884)	0
Proceeds from stock option exercises	113	49	0
Proceeds of stock offering		248,348
Purchase of common stock returned to authorized but unissued	(72,748)	0	0
Net cash provided by (used in) financing activities	(43,230)	(178,885)	281,347
Net increase (decrease) in cash	(72,349)	(256,349)	357,700
Cash and cash equivalents at beginning of year	172,820	429,169	71,469
Cash and cash equivalents at end of year	100,471	172,820	429,169
Parent Company [Member]
Assets
Cash and cash equivalents	30,833	101,637
Securities available for sale (at fair value)	2,600	2,550
Investment in subsidiaries	359,191	345,234
Other assets	904	2,596
Total assets	393,528	452,017
Liabilities [Abstract]
Other liabilities	1,598	1,780
Shareholders' equity [Abstract]
Preferred Stock (par value $.01 per share) Authorized - 50,000,000 shares in 2014 and 20,000,000 in 2013, no shares issued	0	0
Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2014 and 200,000,000 in 2013, Issued - 34,420,094 in 2014 and 34,073,670 in 2013, Outstanding - 34,420,094 in 2014 and 31,349,317 in 2013	294	344
Additional paid-in-capital	317,022	313,894
Retained earnings	168,089	157,304
Unearned ESOP shares	(21,365)	(22,552)
Treasury stock (0 in 2014 and 2,724,353 in 2013), at cost	(72,692)	0
Accumulated other comprehensive income (net of taxes)	582	1,247
Total shareholders' equity	391,930	450,237
Total liabilities and shareholders' equity	$ 393,528	$ 452,017
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	29,407,455	34,420,094
Common stock - shares outstanding (in shares)	29,407,455	34,420,094
Treasury shares (in shares)	5,624,415	0
Statements of Operations [Abstract]
Interest income	$ 770	$ 1,078	586
Equity in loss of subsidiaries	16,513	12,431	14,468
Total income (loss)	17,283	13,509	15,054
Compensation	0	52	(118)
Professional fees	24	2	16
Other expense	586	370	287
Total expense	610	424	185
Income (loss) before income tax	16,673	13,085	14,869
Income tax benefit	103	353	161
Net income (loss)	16,570	12,732	14,708
Cash flows from operating activities [Abstract]
Net income (loss)	16,570	12,732	14,708
Adjustments to reconcile net loss to net cash provided by operating activities [Abstract]
Amortization of unearned ESOP shares	1,385	1,217	718
Stock based compensation	2,817	109	126
Deferred income taxes	49	80	(21)
Equity in (earnings) loss of subsidiaries	(16,513)	(12,431)	(14,468)
Change in other assets and liabilities	(1,286)	599	(1,051)
Net cash (used in) provided by operating activities	3,022	2,306	12
Cash flows from investing activities [Abstract]
Capital contributions to subsidiary	0	(124,211)	0
Proceeds from Sale of Available-for-sale Securities, Debt	0	2,609	0
Net cash used in investing activities	0	(121,602)	0
Financing for cash dividends on common stock	(5,869)	(5,003)	0
Financing for purchase of ESOP	0	(22,884)	0
Proceeds from stock option exercises	113	49	0
Proceeds of stock offering	0	248,422	0
Net cash provided by (used in) financing activities	(73,826)	220,584	0
Net increase (decrease) in cash	(70,804)	101,288	12
Cash and cash equivalents at beginning of year	101,637	349	337
Cash and cash equivalents at end of year	$ 30,833	$ 101,637	$ 349

Segment and Related Informati75

Segment and Related Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segments and Related Information [Abstract]
Number of operating segments (in segments) | Segment	2
Segment Reporting Information [Line Items]
Net interest income	$ 38,844	$ 41,307	$ 39,206
Provision for loan losses	1,965	1,150	4,532
Net interest income after provision for loan losses	36,879	40,157	34,674
Noninterest income	104,474	84,568	87,799
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	81,753	69,172	68,807
Occupancy, office furniture and equipment	9,287	10,369	8,165
FDIC insurance premiums	1,058	1,395	1,986
Real estate owned	2,664	2,482	255
Other	20,772	21,400	19,931
Total noninterest expenses	115,534	104,818	99,144
Income (loss) before income tax	25,819	19,907	23,329
Income tax expense (benefit)	9,249	7,175	8,621
Net income (loss)	16,570	12,732	14,708
Total Assets	1,762,729	1,783,380	1,947,039
Mortgage Banking [Member]
Segment Reporting Information [Line Items]
Net interest income	759	1,051	557
Provision for loan losses	365	400	60
Net interest income after provision for loan losses	394	651	497
Noninterest income	101,499	81,710	84,879
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	65,712	54,626	55,484
Occupancy, office furniture and equipment	6,009	7,019	5,194
FDIC insurance premiums	0	0	0
Real estate owned	15	9	0
Other	16,169	16,616	15,565
Total noninterest expenses	87,905	78,270	76,243
Income (loss) before income tax	13,988	4,091	9,133
Income tax expense (benefit)	5,727	1,649	3,682
Net income (loss)	8,261	2,442	5,451
Total Assets	188,324	145,980	119,401
Community Banking [Member]
Segment Reporting Information [Line Items]
Net interest income	37,735	39,591	38,148
Provision for loan losses	1,600	750	4,472
Net interest income after provision for loan losses	36,135	38,841	33,676
Noninterest income	3,493	3,264	3,134
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	16,462	14,915	13,526
Occupancy, office furniture and equipment	3,278	3,350	3,052
FDIC insurance premiums	1,058	1,395	1,986
Real estate owned	2,649	2,473	255
Other	4,512	4,819	4,197
Total noninterest expenses	27,959	26,952	23,016
Income (loss) before income tax	11,669	15,153	13,794
Income tax expense (benefit)	3,419	5,173	4,777
Net income (loss)	8,250	9,980	9,017
Total Assets	1,729,582	1,758,707	1,895,833
Holding Company and Other [Member]
Segment Reporting Information [Line Items]
Net interest income	350	665	501
Provision for loan losses	0	0	0
Net interest income after provision for loan losses	350	665	501
Noninterest income	(518)	(406)	(214)
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	(421)	(369)	(203)
Occupancy, office furniture and equipment	0	0	(81)
FDIC insurance premiums	0	0	0
Real estate owned	0	0	0
Other	91	(35)	169
Total noninterest expenses	(330)	(404)	(115)
Income (loss) before income tax	162	663	402
Income tax expense (benefit)	103	353	162
Net income (loss)	59	310	240
Total Assets	$ (155,177)	$ (121,307)	$ (68,195)