The community consists of the localities Walterswil, Mühleweg and Schmidigen. Walterswil can be geographically assigned to the Emmental and Oberaargau .
The place name is traced back to an Alemanni named "Walthari". The oldest surviving document with the name of the community as "Walterswyle" is dated to 1139. In 1798 Walterswil became its own municipality . Today almost 600 people live in the community. Around 50 families make their living full-time and part-time from agriculture .