Long-time mortgage industry veteran A.W. Pickel III is the new president of Waterstone Mortgage as Eric Egenhoefer has elected to concentrate on the chief executive position.

"We reached a level of growth where it was clear that the addition of a president would help us continue to exceed our goals," Egenhoefer, who previously held both the president and CEO titles, said in a press release. "We're thrilled to have A.W. join the team, as he brings a wealth of industry and leadership expertise that will be extremely beneficial to Waterstone Mortgage. He is also an ideal fit for our company culture, and we are excited to begin working with him."

Waterstone Mortgage is based in Pewaukee, Wis., and it originated $2.6 billion in 2017, its best year ever. It is a subsidiary of Waterstone Bank SSB and lends in 47 states.

A.W. Pickel
A.W. Pickel III is the new president of Waterstone Mortgage.

Most recently, Pickel was the president of AmCap Mortgage's Midwest Division, joining that company in October 2016.

He founded LeaderOne Financial Corp. in 1992, heading up the Lenexa, Kan.-based company as its CEO. He left after selling it in 2016.

From June 2003 through June 2004, Pickel was the president of the National Association of Mortgage Brokers. He was the founder of the Kansas Association of Mortgage Brokers.

In his new position with Waterstone Mortgage, Pickel will specialize in the management of day-to-day operations and administrative duties.

Pickel is a member of the Mortgage Bankers Association's Residential Board of Governors.

"It is truly exciting to be part of a company that has created a sustainable and forward-thinking culture, and that is made up of a group of caring and supportive employees," said Pickel in the press release. "I am fortunate to come alongside them and to contribute to the future of Waterstone Mortgage."