Derek L. Tyus
About Derek L. Tyus
Derek L. Tyus (age 55) is an independent director of Waterstone Financial, Inc. (WSBF) since 2021, serving on the Audit, Compensation, and Executive Committees; he currently is Executive Vice President and Chief Financial Officer of Versiti, Inc. (joined 2024), and previously was Senior Vice President and Chief Investment Officer at West Bend Mutual Insurance Company and a director at Northwestern Mutual Wealth Management Company . He holds a B.A. from Marquette University and an MBA from the Ross School of Business at the University of Michigan . He was elected to the WSBF board on February 8, 2021; the company’s 8-K noted his committee assignments upon election and highlighted his community board roles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Versiti, Inc. | Executive Vice President & Chief Financial Officer | 2024–present | Finance leadership in blood health solutions |
| West Bend Mutual Insurance Company | Senior Vice President & Chief Investment Officer | 2016–2024 | Led investment portfolio across private debt/equity and real estate |
| Northwestern Mutual Wealth Management Company | Director | Not disclosed (prior to 2016) | Oversight in wealth management strategy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Greater Milwaukee Foundation | Board member | Not disclosed | Community leadership role |
| Zoological Society of Milwaukee | Board member | Not disclosed | Non-profit governance |
| Siebert Lutheran Foundation | Board member | Not disclosed | Philanthropy oversight |
Board Governance
- Committee assignments: Audit (member), Compensation (member), Executive (member); no chair roles .
- Independence: Board determined Tyus is independent under Nasdaq listing standards; independent directors regularly meet without management .
- Attendance: No director or committee member attended fewer than 75% of meetings; the board met 12 times on behalf of WSBF and 12 times as WaterStone Bank in 2024 .
- Years of service: Director since 2021 .
- Board leadership: Chairman of the Board is independent and not an officer; roles of Chair and CEO are separated .
- Diversity/skills: Board matrix identifies Tyus’s skills in risk management, accounting, corporate governance/ethics, legal/regulatory, HR/compensation, executive experience, strategic planning, and M&A; demographic indicated African American, male .
Committee Memberships (Derek L. Tyus)
| Committee | Membership | Chair? |
|---|---|---|
| Audit | Yes | No |
| Compensation | Yes | No |
| Executive | Yes | No |
Committee Activity (2024)
- Audit Committee: 6 meetings; chaired by Michael L. Hansen; Tyus served as a member .
- Compensation Committee: 7 meetings; chaired by Patrick S. Lawton; Tyus served as a member .
- Executive Committee: 10 meetings; Tyus served as a member .
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Annual board retainer (cash) | $65,000 |
| Committee fees (cash) | $10,000 |
| Stock awards (grant-date fair value) | $0 |
| Total 2024 director compensation | $75,000 |
Performance Compensation
| Equity / Policy | Detail |
|---|---|
| Unvested restricted stock (as of 12/31/2024) | 3,864 shares |
| Director stock ownership guideline | 3x annual board cash compensation |
| Guideline compliance (as of 12/31/2024) | All directors in compliance |
| Hedging/pledging restrictions | Directors are restricted from pledging/margin accounts and hedging Company securities |
No performance metrics or vesting schedules for director equity grants were disclosed; unvested director shares exist but grant/date terms are not specified .
Other Directorships & Interlocks
| Category | Status |
|---|---|
| Current public company directorships (other than WSBF) | None (past 5 years) |
| Compensation Committee interlocks | None |
Expertise & Qualifications
- Over 20 years in insurance/investments across private debt/equity, real estate, and wealth management; CFO experience at Versiti .
- Skills matrix evidences risk management, accounting, governance, legal/regulatory, HR/compensation, executive leadership, strategic planning, and M&A competencies .
- Educational credentials: B.A. (Marquette University); MBA (University of Michigan Ross) .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (as of 3/26/2025) | 6,440 shares; less than 1% |
| Shares outstanding (record date) | 19,294,731 |
| Ownership as % of outstanding | ~0.033% (6,440 ÷ 19,294,731) |
| Unvested restricted shares | 3,864 |
| Options (director) | Not disclosed; none listed for Tyus |
| Pledged shares | Not disclosed; policy restricts pledging |
| Section 16 compliance | Company believes all directors filed timely in 2024 |
Governance Assessment
- Positives: Independent status; broad finance/investment expertise; active Audit and Compensation committee service; strong attendance; board-level restrictions on hedging/pledging; director stock ownership guidelines with compliance; separation of Chair and CEO; no related-party transactions over $120,000 and ordinary-course director loans at market terms .
- Alignment: Tyus’s absolute ownership is modest (~0.033% of shares outstanding), but guideline compliance and existing unvested restricted stock support ongoing alignment .
- Conflicts: External CFO role at Versiti (health services) and prior insurance roles do not indicate supplier/customer conflicts with WSBF; company discloses no related-party transactions requiring reporting and maintains board review policies .
- Shareholder signals: Say-on-pay support was >91% in 2024, reflecting a generally supportive governance environment for compensation practices .
RED FLAGS: None apparent from filings; note limited personal shareholdings in absolute terms, though mitigated by policy compliance and equity exposure .