Dividend Increases - Several companies are set to increase their dividends, with the average increase being 7.1% and a median of 5.9% [23] - The companies listed include Source Corporation (SRCE) with a 5.88% increase, NextEra Energy Partners (NEP) with a 1.40% increase, and Orrstown Financial Services (ORRF) with a notable 15.00% increase [28] Company Performance Metrics - SRCE has a current price of $63.06, a P/E ratio of 12.6, and is 57% off its 52-week low [4] - NEP's current price is $26, with a P/E ratio of 0 and is 42% off its 52-week low [4] - FSBW has a current price of $42.85, a P/E ratio of 7.19, and is 57% off its 52-week low [4] - ORRF's current price is $34.27, with a P/E ratio of 8.81, and is 82% off its 52-week low [4] Dividend Yield and Growth Rates - ORRF has a yield of 2.68% with a 1-year dividend growth rate of 2.6% [15] - FSBW has a yield of 2.52% and a 5-year dividend growth rate of 28.6% [15] - SRCE has a yield of 2.28% and a 10-year growth rate of 7.9% [15] - NEP stands out with a yield of 14% and a 5-year growth rate of 13.8% [15] Historical Returns - FSBW has shown a total return of 50% over the past decade, translating to a 19.7% CAGR [18] - SRCE and ODC have also outperformed the benchmark SCHD, with total returns of 220% and 200%, respectively [7] Ex-Dividend Dates - The ex-dividend date for SRCE is August 5, 2024, for NEP is August 6, 2024, and for FSBW is August 7, 2024 [28]

Core Insights - FS Bancorp reported revenue of $36.27 million for the quarter ended June 2024, reflecting a year-over-year decline of 0.3% and an EPS of $1.13 compared to $1.25 a year ago [1] Financial Performance Metrics - The reported revenue exceeded the Zacks Consensus Estimate of $35.4 million by 2.46%, while the EPS surprise was 9.71% against a consensus estimate of $1.03 [3] - Net Interest Margin was reported at 4.3%, matching the average estimate, while the Efficiency Ratio was 65.8%, slightly above the estimated 65% [4] - Total Non-Interest Income was $5.87 million, surpassing the average estimate of $4.60 million, while Net Interest Income was $30.40 million, slightly below the average estimate of $30.80 million [4] Stock Performance - FS Bancorp shares have returned +21.1% over the past month, significantly outperforming the Zacks S&P 500 composite's +2% change [6] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [6]

Company Performance - FS Bancorp (FSBW) reported quarterly earnings of $1.13 per share, exceeding the Zacks Consensus Estimate of $1.03 per share, but down from $1.25 per share a year ago [1] - The company has surpassed consensus EPS estimates in all four of the last quarters [2] - FS Bancorp's revenues for the quarter ended June 2024 were $36.27 million, surpassing the Zacks Consensus Estimate by 2.46%, but down from $36.39 million year-over-year [9] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.09 on revenues of $36.05 million, and for the current fiscal year, it is $3.93 on revenues of $139.15 million [12] - The estimate revisions trend for FS Bancorp is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [5] Industry Context - FS Bancorp operates within the Zacks Banks - West industry, which is currently ranked in the bottom 34% of over 250 Zacks industries [6] - The performance of FS Bancorp's stock may be influenced by the overall outlook of the banking industry [6] Stock Performance - FS Bancorp shares have increased approximately 9.8% since the beginning of the year, compared to a 16.7% gain for the S&P 500 [10] - Despite the year-to-date increase, FS Bancorp has underperformed the market [11]

Exhibit 99.1 FS Bancorp, Inc. Reports Second Quarter Net Income of $9.0 Million or $1.13 Per Diluted Share and Previously Announced Share Repurchase Plan and 3.8% Increase in its Quarterly Dividend MOUNTLAKE TERRACE, WA – July 23, 2024 – FS Bancorp, Inc. (NASDAQ: FSBW) (the "Company"), the holding company for 1st Security Bank of Washington (the "Bank" or "1st Security Bank") today reported 2024 second quarter net income of $9.0 million, or $1.13 per diluted share, compared to $9.1 million, or $1.16 per dil ...

Group 1 - FS Bancorp, Inc. has appointed Matthew D. Mullet as President of both the Bank and the Company, while he will continue to serve as Chief Financial Officer [5] - Joseph C. Adams remains the Chief Executive Officer for both the Company and the Bank, highlighting the leadership continuity within the organization [5] - 1st Security Bank operates twenty-seven branches and provides loan and deposit services primarily in Washington State, including the Puget Sound and Tri-Cities areas [3][5] Group 2 - Matthew D. Mullet has a strong background in banking, having served in various roles since 2000, including Chief Financial Officer at Golf Savings Bank and 1st Security Bank [5] - The Bank focuses on home mortgage services throughout the Northwest, predominantly in Washington State [3][5] - Mullet is recognized for his leadership skills and deep understanding of the banking landscape, which is expected to benefit the Bank's operations [3]

Core Viewpoint - FS Bancorp, Inc. (FSBW) has demonstrated a commitment to returning value to shareholders through consistent dividend increases and share repurchase programs, indicating a strong financial position and growth potential. Group 1: Dividend Information - FSBW has been paying quarterly cash dividends for 46 consecutive quarters, with a current payout ratio of 22% of its earnings, allowing for reinvestment and growth while providing returns to shareholders [1] - In January 2024, FSBW increased its quarterly dividend by 4% to 26 cents per share [2] - Recently, FSBW announced a dividend hike to 27 cents per share, reflecting a 3.8% increase from the previous payout, with payment scheduled for August 21, 2024 [8] Group 2: Share Repurchase Programs - FSBW authorized a share repurchase plan in April 2022 for $10 million worth of shares [3] - An additional share buyback program of up to $5 million was recently authorized, which will remain active through July 31, 2025 [10] - As of March 31, 2024, $3 million worth of shares remained available under the existing repurchase program [10] Group 3: Financial Health - FSBW's common equity CET 1 capital ratio is 12.47%, and the total risk-based capital ratio is 13.72%, both exceeding regulatory requirements [4] - As of March 31, 2024, FSBW reported total cash and cash equivalents of $45.4 million, total loans of $2.4 billion, and long-term borrowings of $129.9 million, indicating a solid liquidity position [11] - The company has experienced a 28% increase in share price over the past year [5] Group 4: Growth Metrics - FSBW has increased dividends 11 times in the last five years, with a five-year annualized growth rate of 30.24% [9] - The current dividend yield stands at 2.9% based on a closing price of $37.75 as of July 12 [9]

The repurchase program permits shares to be repurchased in open market or private transactions or pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission ("SEC"). About FS Bancorp Forward-Looking Statements In addition, the Company's Board of Directors authorized an additional repurchase of up to $5.0 million in shares of the Company's outstanding shares of common stock in the open market, in privately negotiated transactions or shares withheld upon the ex ...

MOUNTLAKE TERRACE, Wash., May 24, 2024 (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ:FSBW), the holding company for 1st Security Bank of Washington ("1st Security" or "Bank") announced today the promotions of Kelli Nielsen and Donn Costa to the positions of EVP, Chief Retail Banking Officer and EVP, Chief Home Lending Officer, respectively. 1st Security Bank Chief Executive Officer, Joe Adams, announced the promotions at an all-employee meeting on Friday, May 17th. During the announcement, Adams said, "Kelli ...

Core Viewpoint - FS Bancorp, Inc. has announced the promotions of Sean McCormick and Robert Nesbitt to key leadership positions within 1st Security Bank, enhancing the bank's credit strategy and operations [1][6]. Group 1: Leadership Changes - Sean McCormick has been promoted to Chief Credit Administration Officer, responsible for overseeing the bank's credit strategy, credit risk, and financial analysis of loan portfolios [2][6]. - Robert Nesbitt has been appointed as Chief Credit Operations Officer, focusing on commercial credit operations [4][6]. Group 2: Experience and Background - Sean McCormick has 11 years of experience at 1st Security Bank, previously serving as SVP Director of Credit Administration, and has played a significant role in the growth of the bank's loan portfolios [3][6]. - Robert Nesbitt brings 25 years of experience in commercial banking, having joined 1st Security in 2017 as VP Commercial Lending Relationship Manager [4][6]. Group 3: Strategic Importance - The combined experience of McCormick and Nesbitt exceeds 40 years, positioning them as strategic leaders to enhance customer service and drive future growth in Washington and Oregon [6].

MOUNTLAKE TERRACE, Wash., May 20, 2024 (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ: FSBW), the holding company for 1st Security Bank of Washington ("1st Security" or "Bank") announced today the promotions of Sean McCormick and Robert Nesbitt to the positions of Chief Credit Administration Officer and Chief Credit Operations Officer of the Bank, respectively. Sean McCormick will assume the role of Chief Credit Administration Officer and will have primary responsibility for overseeing the Bank's credit strat ...