FS Bancorp, Inc.

FS Bancorp reported Q2 2026 net income of $7.9 million, or $1.04 per diluted share, showing slight increases quarter-over-quarter and year-over-year. The company also declared its 54th consecutive quarterly cash dividend of $0.29 per common share and repurchased $3.6 million in shares. While net loans grew and nonperforming loans decreased, total deposits saw a significant decline, mainly due to a strategic shift away from higher-cost brokered deposits, and the provision for credit losses increased due to specific charge-offs.

FS Bancorp, Inc. announced the appointment of Matthew D. Mullet as CEO of the Company, effective June 1, 2026. This appointment is part of a previously announced CEO succession plan. Mullet will continue in his roles as President and CEO of 1st Security Bank and President of the Company. Joe Adams, who retired as CEO on May 31, 2026, will remain a director of both the Company and the Bank.

FS Bancorp's latest 10-Q filing includes a definitive agreement dated February 25, 2026, with Pacific West Bancorp, signaling a significant merger or acquisition. The filing also lists various corporate governance documents, details on debt instruments including 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031, and executive compensation plans. Additionally, it contains Sarbanes-Oxley certifications from the CEO and CFO.

FS Bancorp reported Q1 2026 net income of $7.83 million, a 2.38% decrease from $8.02 million in Q1 2025. Basic earnings per share, however, increased by 1.96% to $1.04 from $1.02 year-over-year. The company's net interest income grew by 5.05% to $32.55 million, while the provision for credit losses increased significantly by 58.86% to $2.53 million. Total assets slightly increased to $3.20 billion, and total deposits decreased by 1.35% to $2.64 billion compared to December 31, 2025. The company also reiterated its definitive merger agreement to acquire Pacific West Bancorp for approximately $34.6 million.

FS Bancorp, Inc. announced that President Matthew D. Mullet, Executive Vice President and Chief Human Resources Officer Vickie A. Jarman, and Executive Vice President and Chief Information Officer Shana C. Allen will attend the D.A. Davidson 28th Annual Financial Institutions Conference. The conference will take place in Nashville, Tennessee, from May 4-6, 2026, where investor materials will be provided.

FS Bancorp, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.29 per share. This dividend is scheduled to be paid on May 21, 2026, to all stockholders of record as of the close of business on May 7, 2026. Additionally, the company issued its earnings release for the quarter ended March 31, 2026.

FS Bancorp reported Q1 2026 net income of $7.8 million, or $1.02 per diluted share, down from $8.4 million in the prior quarter and $8.0 million a year ago. Pre-tax income, however, increased 4.6% year-over-year to $9.9 million. The company announced its 53rd consecutive quarterly cash dividend of $0.29 per common share and highlighted a record book value per share of $42.42. Management also noted the announced merger with Pacific West Bancorp and projected growth into the Portland, Oregon market.