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1 - 2
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Financial Statements
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3
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4
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5 -10
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Supplemental Information
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11 - 12
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2019
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2018
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||||||||
Assets
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|||||||||
Investments – at fair value
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$
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9,787,320
|
$
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7,181,886
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|||||
Investments – at contract value
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155,117
|
135,036
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|||||||
Receivables
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|||||||||
Notes receivable from participants
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29,563
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16,422
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|||||||
Total assets
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9,972,000
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7,333,344
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|||||||
Net asset available for benefits
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$
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9,972,000
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7,333,344 |
Additions to net assets attributed to:
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||||
Investment income:
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||||
Interest and dividend income
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$
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108,762
|
||
Net appreciation in fair value of investments
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1,759,986
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|||
Total investment gain, net
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1,868,748
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|||
Contributions
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||||
Participants'
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825,895
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|||
Employer
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90,459
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|||
Rollovers
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85,362
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|||
Total contributions
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1,001,716
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|||
Interest on notes receivable from participants
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1,163
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|||
Total additions
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2,871,627
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|||
Deductions from net assets attributed to:
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||||
Benefits paid to participants
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155,144
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|||
Administrative expenses
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77,827
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|||
Total deductions
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232,971
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|||
Total net increase
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2,638,656
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|||
Net assets available for benefit
Beginning of year
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7,333,344
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|||
End of year
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$
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9,972,000
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Note 1 - Description of the Plan
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Note 1 - Description of the Plan (cont.)
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Vesting Years of Service
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Percentage Vested
|
|
less than 2
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0%
|
|
2
|
20%
|
|
3
|
40%
|
|
4
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60%
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|
5
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80%
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6 or more
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100%
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Note 1 - Description of the Plan (cont.)
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Note 2 ‑ Summary of Significant Accounting Policies
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Note 2 ‑ Summary of Significant Accounting Policies (cont.)
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Note 3 – Fair Value Measurements
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-
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quoted prices for similar assets or liabilities in active markets;
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-
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quoted prices for identical or similar assets or liabilities in inactive markets;
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-
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inputs other than quoted prices that are observable for the asset or liability;
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-
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inputs that are derived principally from or corroborated by observable market data by correlation or other means.
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Note 3 – Fair Value Measurements (cont.)
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December 31, 2019
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||||||||||||||||
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Total
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Level 1
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Level 2
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Level 3
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||||||||||||
Waterstone Financial, Inc. Common Stock
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$
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1.236.522
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$
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1,236,522 |
$
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- |
$
|
- | ||||||||
Collective Trusst Funds
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3,732,183
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- | 3,732,183 | - | ||||||||||||
Mutual Funds
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4,818,615
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4,818,615 | - | - | ||||||||||||
Total Investments
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$
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9,787,320 |
$
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6,054,137 |
$
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3,732,183 |
$
|
- | ||||||||
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December 31, 2018
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||||||||||||||||
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Total
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Level 1
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Level 2
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Level 3
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||||||||||||
Waterstone Financial, Inc. Common Stock
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$
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1,051,733 |
$
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1,051,733 |
$
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- |
$
|
- | ||||||||
Collective Trusst Funds
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2,653,207 |
- | 2,653,207 |
- | ||||||||||||
Mutual Funds
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3,476,946 |
3,476,946 | - |
- | ||||||||||||
Total Investments
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$
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7,181,886 |
$
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4,528,679 |
$
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2,653,207 |
$
|
- | ||||||||
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- |
Note 4 – Investments – Guaranteed Investment Contract
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Note 4 – Investments – Guaranteed Investment Contract (cont.)
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Note 5 - Parties‑In‑Interest
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Note 6 - Tax Status
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(a)
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(b)
Identity of Issue, Borrower, Lessor, or Similar Party
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(c)
Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value
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(d)
Cost
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(e)
Current Value
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||||||
BlackRock Investments, LLC
BlackRock Investments, LLC
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BlackRock Global Allocation Institutional Fund
BlackRock High Yield Bond Institutional Fund
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**
**
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$
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63,373
28,776
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||||||
DWS Funds
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DWS Real Estate Securities Fund
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**
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47,702
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|||||||
Fidelity Investments
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Fidelity Contrafund
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**
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1,486,745
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|||||||
*
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Principal Trust Company
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Fixed Income Guaranteed Option
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**
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155,117
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||||||
Goldman SachsTrust
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Goldman Sachs Small Cap Institutional Fund
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**
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50,079
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|||||||
Invesco
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Invesco Diversity Dividend R5 Fund
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**
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208,281
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|||||||
Ivy Funds
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Ivy Mid Cap Growth I Fund
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**
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66,946
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|||||||
Janus Investment Fund
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Janus Henderson Triton Fund
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**
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243,606
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|||||||
John Hancock Funds III
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John Hancock Disciplined Value Mid Cap I Fund
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**
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113,647
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|||||||
JP Morgan Trust II
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JP Morgan Core Bond R5 Fund
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**
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180,429
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|||||||
T. Rowe Price
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LargeCap Growth I Institutional Fund
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**
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279,923
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|||||||
T. Rowe Price
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Science & Technology I Fund
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**
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131,521
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|||||||
MFS Investment Management
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International Diversification R4 Fund
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**
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210,303
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|||||||
OppenheimerFunds
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Oppenheimer Developing Markets Y Fund
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**
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91,512
|
|||||||
OppenheimerFunds
|
Oppenheimer International Growth Y Fund
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**
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204,379
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|||||||
PIMCO
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PIMCO Income Institutional Fund
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**
|
57,808
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|||||||
PIMCO
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PIMCO Midcap Institutional Fund
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**
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121,264
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|||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid Income CIT
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**
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21,674
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2015 CIT
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**
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16,329
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2020 CIT
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**
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96,571
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2025 CIT
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**
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515,476
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2030 CIT
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**
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851,276
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2035 CIT
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**
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457,596
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2040 CIT
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**
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674,692
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2045 CIT
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**
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382,878
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2050 CIT
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**
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488,017
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||||||
*
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Principal Trust Company
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Principal Lifetime Hybrid 2055 CIT
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**
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150,302
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(a)
|
(b)
Identity of Issue, Borrower, Lessor, or Similar Party
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(c)
Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value
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(d)
Cost
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(e)
Current Value
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||||||
*
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Principal Trust Company
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Principal Trust(SM) Target 2060 Fund
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**
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$
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72,660
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|||||
*
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Principal Trust Company
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Principal Trust(SM) Target 2065 Fund
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**
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4,712
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||||||
Vanguard Group
|
Vanguard 500 Index Admiral Fund
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**
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511,350
|
|||||||
Vanguard Group
|
Vanguard Mid Cap Index ADM Fund
|
**
|
600,410
|
|||||||
Vanguard Group
|
Vanguard Small Cap Index ADM Fund
|
**
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120,561
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|||||||
*
|
Waterstone Financial, Inc.
|
Waterstone Financial, Inc. common stock
|
**
|
1,236,522
|
||||||
*
|
Participant Loans
|
Interest rate; 5.25% - 7.50% Maturities through 2024
|
29,563
|
|||||||
$
|
9,972,000
|
|||||||||
* Represents a party in interest
** Cost omitted for participant directed investments
|
||||||||||