Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

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 Waterstone Financial, Inc. stock for the weighted average life time period prior to issuance date. The following assumptions were used in estimating the fair value of options granted in the years ended December 31, 2019 and 2018.

	2019						2018
	Minimum			Maximum			Minimum			Maximum
Dividend yield		2.56	%		2.92	%		2.70	%		2.74	%
Risk-free interest rate		1.42	%		2.28	%		2.57	%		2.96	%
Expected volatility		16.07	%		16.37	%		16.27	%		30.88	%
Weighted average expected life		5.0			5.8			5.4			6.2
Weighted average per share value of options	$	1.72			2.12			1.97			4.26

Stock option activity

A summary of the Company’s stock option activity for the years ended December 31, 2019, 2018 and 2017 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, 2016		1,362,499		$	11.83		7.74		8,785
Options exercisable at December 31, 2016		304,595			9.66		6.44		2,625
Granted		20,000			18.78				(35	)
Exercised		(211,205	)		6.48				2,233
Forfeited		(12,195	)		14.83				27
Outstanding December 31, 2017		1,159,099			12.89		7.24		4,870
Options exercisable at December 31, 2017		331,097			12.53		7.10		1,501
Granted		80,000			17.23				3
Exercised		(106,030	)		12.30				473
Forfeited		(72,000	)		13.97				224
Outstanding December 31, 2018		1,061,069			13.21		6.47		3,850
Options exercisable at December 31, 2018		421,068			12.78		6.23		1,688
Granted		30,000			17.13				56
Exercised		(50,298	)		13.10				298
Forfeited		(15,000	)		15.62				51
Outstanding December 31, 2019		1,025,771			13.29		5.56		5,887
Options exercisable at December 31, 2019		546,770			12.93		5.31		3,335

The following table summarizes information about the Company's stock options outstanding at December 31, 2019.

		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		4,233	$	1.73		2.01		4,233	$	1.73		2.01
$	5.01 - $10.00		-		-		-		-		-		-
$	10.01 - $15.00		903,538		12.81		5.21		517,537		12.82		5.22
Over $15.01			118,000		17.55		8.36		25,000		17.84		7.75
			1,025,771	$	13.29		5.56		546,770	$	12.93		5.31

Summary of nonvested stock option activity

The following table summarizes information about the Company’s nonvested stock option activity for the years ended December 31, 2019 and 2018:

Stock Options	Shares			Weighted Average Grant Date Fair Value
Nonvested at December 31, 2017		828,002		$	3.27
Granted		80,000			3.66
Vested		(200,001	)		3.27
Forfeited		(68,000	)		3.46
Nonvested at December 31, 2018		640,001			3.30
Nonvested at December 31, 2018		640,001			3.30
Granted		30,000			1.87
Vested		(176,000	)		3.28
Forfeited		(15,000	)		2.34
Nonvested at December 31, 2019		479,001			3.24

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, 2019 and 2018:

Restricted Stock	Shares			Weighted Average Grant Date Fair Value
Nonvested at December 31, 2017		259,200		$	12.85
Granted		-			-
Vested		(93,100	)		12.84
Forfeited		(3,500	)		12.75
Nonvested at December 31, 2018		162,600			12.85
Nonvested at December 31, 2018		162,600			12.85
Granted		-			-
Vested		(89,600	)		12.84
Forfeited		-			-
Nonvested at December 31, 2019		73,000			12.86