WaterStone Bank

Overview / Commentary
11200 West Plank Court
Wauwatosa, WI 53226

WaterStone Bank is headquartered in WAUWATOSA and is the 11th largest bank in the state of Wisconsin. It is also the 527th largest bank in the nation. It was established in 1921 and as of March of 2024, it had grown to 692 employees at 16 locations. WaterStone Bank's money market rates are 7X the national average, and it has an A health rating.

Reviews (1)

Beware Of Waterstone Bank

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I can't recommend Waterstone Bank to anyone at this point after my experience. We financed a small apartment complex through Waterstone, but my business partner who handled all finances and payments let the account be overdrawn for a week while working on another project (I was not sent any notices and had no calls/voicemails to my phone regarding this issue during that time). When I checked the balance on a Friday, I saw that it was about $125 in the negative with $8 daily fees to square away which accounted for less than half that amount, so I planned to head there on the following Monday when they reopened to pay this and get things back to normal. I get a call Monday morning from the bank president, who tells me "You owe $125, and we're closing your account because of this problem". Really. No prior notice to me regarding this, no idea if they even tried to reach out to my business partner, and I had told him I was heading in that day once the issue was found to be able to get the balance current and put a few hundred more in to have funds available again. No opportunity to keep the account open, he was very terse and unwilling to discuss options to be able to keep my business with their bank while we work to sell the property they financed in the near future. I've had accounts with many banks over the years, and never, ever experienced anything like this, it was as if they were looking to find some way to close our account for any reason because, I would guess, they simply don't want the business.

Beware of working with Waterstone, if they can treat our company like this after 3 years of solid business with only one payment that was late a few days, they'll look for any reason to close your account and THEN tell you they'll hit your credit to make it harder to open an account elsewhere, which is in the letter their bank president sent to me. Unbelievable their bank president would treat customers like this. Look for other local business like Waukesha State Bank, I've been a customer with multiple accounts there for 25 years and never, ever had one issue or revenge move made against my company or my personal accounts through them the way Waterstone did.

If I could give zero stars for their business, I would certainly do so. They tried to solicit more business from me a year ago, and I almost transferred multiple hundred thousand from another account to them, but had a feeling that it wasn't a good move. I'm absolutely glad I never, ever opened a personal account there, last thing I'd want to do is give them any more of my money to manage after the abhorrent treatment I've seen they give to customers. Steer clear of Waterstone!


Health Grade Components

FDIC Certificate #28513
Year Established1921
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD3.72%
Annual Interest Income$27.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$2.23B$2.11B
LoansQ1 2024vs Q1 2023$1.82B$1.69B
DepositsQ1 2024vs Q1 2023$1.24B$1.25B
Equity CapitalQ1 2024vs Q1 2023$320.9MM$317.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$18.5MM$17.7MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$4.9MM$4.5MM
Real Estate OwnedQ1 2024vs Q1 2023$206K$145K
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Always verify rates and promotions with the bank or credit union. We are not WaterStone Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

WaterStone Bank Savings Account Rates

0.30%*$50k*-Health Savings Account
OTHER TIERS: 0.10% $0 - $5k | 0.15% $5k - $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
OTHER TIERS: 0.05% $0 - $1k | 0.10% $1k - $5k
0.15%*$5k*-Stepping Stone Savings
OTHER TIERS: 0.05% $0 - $1k | 0.10% $1k - $5k
0.10%$0-Business Savings
0.10%$10-IRA Access Savings
0.05%$0-Blue's Jr. Bankers Savings Account

WaterStone Bank Money Market Rates

3.00%*$250k*-Ultimate Money Market
OTHER TIERS: 0.40% $0 - $25k | 1.15% $25k - $50k | 2.50% $50k - $100k | 2.75% $100k - $250k
2.75%*$250k*-Business Ultimate Money Market
OTHER TIERS: 0.40% $5k - $25k | 1.15% $25k - $50k | 2.25% $50k - $100k | 2.50% $100k - $250k

WaterStone Bank Checking Account Rates

0.15%*$50k*-Universal Checking
OTHER TIERS: 0.05% $0 - $10k | 0.10% $10k - $50k
0.05%*$2.5k*-Business Interest Checking
OTHER TIERS: 0.01% $0 - $2.5k

WaterStone Bank CD Rates

5.00%$5k-13 Month CD Special
5.00%$5k-9 Month CD Special
4.50%$5k-19 Month CD Special
4.25%$5k-25 Month CD Special
1.00%$100-1 Year Purpose CD
0.70%$1k-5 Year CD
0.60%$1k-4 Year CD
0.50%$1k-3 Year CD
0.40%$1k-2 Year CD
0.25%$1k-1 Year CD
0.15%$1k-6 Month CD

WaterStone Bank IRA Rates

5.00%$2.5k-13 Month IRA Special
5.00%$2.5k-9 Month IRA Special
4.50%$2.5k-19 Month IRA Special
4.25%$2.5k-25 Month IRA Special
0.70%$500-5 Year IRA
0.60%$500-4 Year IRA
0.50%$500-3 Year IRA
0.40%$500-2 Year IRA
0.25%$500-1 Year IRA
0.15%$500-6 Month IRA


Milwaukee Area

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