FS Bancorp, Inc., the parent company of 1st Security Bank of Washington, completed its acquisition of Pacific West Bancorp and its subsidiary Pacific West Bank effective August 19, 2026. The transaction consideration consisted of 430,176 shares of FS Bancorp common stock and $16,832,742 in cash, with Pacific West shareholders electing between stock or cash subject to proration. This merger expands FS Bancorp's presence into the Portland, Oregon market. FS Bancorp operates as a financial holding company providing loan and deposit services through 28 branches in Washington and Oregon.

FS Bancorp, Inc. reported 2026 second quarter net income of $7.9 million, or $1.04 per diluted share, compared to $7.8 million for the prior quarter. The Board of Directors declared a regular quarterly cash dividend of $0.29 per share, payable on August 21, 2026, to stockholders of record as of August 7, 2026. FS Bancorp, Inc. is a financial services holding company for 1st Security Bank of Washington.