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 ...

Table of Contents For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35589 FS BANCORP, INC. Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Former name, former address and former fiscal year, if changed since last report) Sec ...

For the quarter ended March 2024, FS Bancorp (FSBW) reported revenue of $35.46 million, down 1.2% over the same period last year. EPS came in at $1.06, compared to $1.22 in the year-ago quarter.The reported revenue represents a surprise of +4.13% over the Zacks Consensus Estimate of $34.05 million. With the consensus EPS estimate being $0.98, the EPS surprise was +8.16%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

FS Bancorp (FSBW) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.16%. A quarter ago, it was expected that this bank holding company would post earnings of $1.02 per share when it actually produced earnings of $1.23, delivering a surprise of 20.59%.Over the last four quarters, the c ...

Exhibit 99.1 FS Bancorp, Inc. Reports First Quarter Net Income of $8.4 Million or $1.06 Per Diluted Share and Its Board of Directors Declares Forty-Fifth Consecutive Quarterly Dividend MOUNTLAKE TERRACE, WA – April 24, 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 first quarter net income of $8.4 million, or $1.06 per diluted share, compared to $8.2 million, or $1.04 per diluted share, f ...