Waterstone Financial (WSBF) in Wauwatosa, Wis., raised roughly $250 million from the subscription and community offering tied to its second-step conversion.

The $1.6 billion-asset company said Monday that it sold about 25.3 million shares of common stock at $10 each. Based on those results, Waterstone said it does not plan to conduct a syndicated community offering or firm commitment public offering.

Waterstone has 10 branches in Wisconsin.

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