Waterstone Financial, Inc. - 10-K filing on 2014-03-21

Other Matters	12 Months Ended
Other Matters	Dec. 31, 2013
Other Matters [Abstract]
Other Matters [Text Block]	Note 21 – Subsequent Events On January 22, 2014, Waterstone Financial, Inc., a Maryland Corporation, completed its conversion from the mutual holding company to the stock holding company form of organization. A total of 25,300,000 shares were sold in the subscription offering at a price of $10.00 per share. As part of the conversion, each existing share of Waterstone-Federal common stock held by current public shareholders was converted into the right to receive 1.0973 shares of New Waterstone common stock. The exchange ratio ensured that, after the conversion and offering, the current public shareholders of Waterstone-Federal maintained approximately the same ownership interest in New Waterstone as they previously owned prior to the closing of the conversion. Cash was issued in lieu of fractional shares based on the offering price of $10.00 per share. Approximately 34,406,929 shares of Waterstone common stock were outstanding after the completion of the offering and the exchange, before taking into account adjustments for fractional shares. The Plan of Conversion and Reorganization 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. Waterstone-Federal's common stock began trading on the Nasdaq Global Select Market under the trading symbol "WSBF" on January 23, 2014.