Recent Updates — FSBW

FS Bancorp, Inc. announced the appointment of Matthew D. Mullet to serve on the Boards of Directors of both the holding company and 1st Security Bank of Washington, effective October 22, 2026. The Governance Nominating and Culture Committee proposed Mr. Mullet’s appointment, which was ratified by the Board. Mr. Mullet has served as President since July 2024, Chief Executive Officer of the Bank since September 2025, and CEO of the Company since June 2026. He joined the organization in July 2011 and previously served as Chief Financial Officer. FS Bancorp operates as a bank holding company providing loan and deposit services through its subsidiary.

FS Bancorp, Inc. announced a regular quarterly cash dividend of $0.29 per share, payable on November 20, 2026, to shareholders of record as of November 6, 2026. For the third quarter ended September 30, 2026, the company reported net income of $4.9 million, or $0.63 per diluted share, a decline from $7.9 million in the prior quarter and $9.2 million in the same period last year. The nine-month net income totaled $20.7 million, or $2.62 per diluted share. Total deposits increased 17.1% to $2.87 billion, driven by the August acquisition of Pacific West Bancorp. FS Bancorp operates as a bank holding company for 1st Security Bank of Washington.

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.