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 ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they beli ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-35589 FS BANCORP, INC. (Exact name of registrant as specified in its charter) | Washington | | 45-4585178 | | --- | --- | --- | | (State or other jurisdiction of inco ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 For the quarterly period ended September 30, 2023 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. (Exact name of registrant as specified in its charter) Washington 45-4585178 (Stat ...

For the quarterly period ended June 30, 2023 or Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 ☐ 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. (Exact name of registrant as specified in its charter) Washington 45-4585178 organizati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) 6920 220th Street SW, Mountlake Terrace, Washington 98043 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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. (Exact name of registrant as ...

Acquisitions and Expansions - The Company acquired approximately $425.5 million in deposits and $65.8 million in loans from Columbia State Bank as part of the Columbia Branch Purchase completed on February 24, 2023[25]. - The Company completed the acquisition of Anchor Bancorp in 2018, which added $357.9 million in deposits and $361.6 million in loans, enhancing its retail footprint in the Puget Sound region[27]. - The Company operates 20 full-service bank branches and 10 loan production offices in the Puget Sound region, serving a population of approximately 4.4 million[30][31]. Loan Portfolio and Lending Strategy - The Company has a total loan portfolio of $1.858 billion, with $1.218 billion in fixed-rate loans and $640.3 million in adjustable-rate loans as of December 31, 2022[39]. - The Company has expanded its loan offerings to include residential mortgage and commercial construction warehouse lending, diversifying its revenue streams[37]. - The Company’s lending strategy focuses on commercial real estate and business loans, alongside its historical strength in consumer loans[37]. - The Company has a lending authority of up to $20 million for the Chief Credit Officer, with loans exceeding this amount requiring additional approvals[43]. - The Company has reintroduced in-house originations of residential mortgage loans primarily for sale in the secondary market since 2012[37]. Economic and Market Conditions - The estimated unemployment rate in Washington was 4.2% as of December 31, 2022, with King County at 2.8%[36]. - The Company’s market area includes key economic sectors such as aerospace, military, clean technology, and international trade, contributing to a robust regional economy[32]. Construction and Development Loans - As of December 31, 2022, the company's total outstanding construction and development loans amounted to $342.6 million, representing 15.4% of the gross loan portfolio, an increase from $240.6 million in the previous year[52]. - The company had $60.0 million in approved commercial construction warehouse lending lines, with $31.2 million outstanding at the same date[45]. - The Company processed approximately 232 loans and funded about $108.0 million under its mortgage warehouse lending program during the year ended December 31, 2022[77]. Consumer Loans - The Company’s consumer loans totaled $569.6 million, or 25.6% of the gross loan portfolio as of December 31, 2022[64]. - Indirect home improvement loans totaled $495.9 million, representing 22.3% of the gross loan portfolio and 87.1% of total consumer loans as of December 31, 2022[65]. - Home equity lines of credit totaled $55.4 million, or 2.5% of the gross loan portfolio, with $39.1 million being adjustable-rate[61]. - At December 31, 2022, 80.8% of the consumer loan portfolio was originated with borrowers having a FICO score over 720, while only 1.3% was associated with borrowers having a FICO score below 660[71]. Financial Performance and Credit Losses - Total loans originated decreased to $1,847,939 thousand in 2022 from $2,438,582 thousand in 2021, representing a decline of approximately 24%[86]. - The allowance for credit losses on loans was $28,000 thousand, or 1.26% of gross loans receivable, as of December 31, 2022, compared to $25,600 thousand, or 1.46% in 2021[102]. - The provision for credit losses on loans increased to $6,600 thousand in 2022 from $500 thousand in 2021, reflecting a significant rise due to increased total loans receivable[102]. - Total net charge-offs for the year were $1,407 thousand, compared to $1,037 thousand in 2021 and $93 thousand in 2020[105]. Deposits and Funding - Total deposits increased by $211.997 million, representing an 11.07% growth from 2021[118]. - The ending balance of total deposits as of December 31, 2022, was $2,127.741 million, compared to $1,915.744 million in 2021[120]. - The company had approximately $560.0 million in uninsured deposits as of December 31, 2022[120]. - The Company had $393.9 million in brokered deposits, representing 18.5% of total deposits as of December 31, 2022[116]. Capital and Regulatory Compliance - As of December 31, 2022, 1st Security Bank's total risk-based capital ratio was 13.70%, exceeding the required minimum of 8.00%[177]. - The Tier 1 risk-based capital ratio was 12.45%, above the minimum requirement of 6.00%[177]. - 1st Security Bank was categorized as well capitalized under the prompt corrective action regulations of the FDIC as of December 31, 2022[177]. - The bank must comply with privacy and cybersecurity regulations, including new notification requirements for significant cybersecurity incidents, effective May 1, 2022[197]. Employee and Workforce Information - As of December 31, 2022, the company had 537 employees, with 97.64% being full-time employees and a turnover rate of 19.29%, up from 17.14% in 2021[158]. - The workforce composition as of December 31, 2022, was 69% female and 31% male, with women holding 58% of management roles[152]. - The company has a commitment to diversity, with 50% of independent directors being women and 44% of executives reporting to the CEO being women[152]. Community Engagement and Corporate Responsibility - Volunteer hours increased from 4,000 in 2021 to approximately 5,100 in 2022[157]. - The company’s vision statement emphasizes building a great workplace to foster a great banking experience[150].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 For the quarterly period ended September 30, 2022 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. (Exact name of registrant as specified in its charter) Washington 45-4585178 (Stat ...