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FS Bancorp Company profile

About FS Bancorp Inc

FS Bancorp, Inc. is a holding company for 1st Security Bank of Washington (the Bank). The Company is a diversified lender with a focus on the origination of one-to-four-family loans, commercial real estate mortgage loans, second mortgage or home equity loan products, consumer loans including indirect home improvement (fixture secured) loans which also include solar-related home improvement loans, marine lending, and commercial business loans. The Company operates through two segments through the bank: commercial and consumer banking and home lending. It originates one-to-four-family residential mortgage loans through referrals from real estate agents, financial planners, builders, and from existing customers. It is a relationship-driven, delivering banking and financial services to local families, local and regional businesses, and industry. It provides approximately 21 full-service bank branches.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, FS Bancorp Inc interest income increased 8% to $96.4M. Net interest income after loan loss provision increased 17% to $86.6M. Net income applicable to common stockholders decreased 6% to $36.8M. Net interest income after loan loss provision reflects Commercial and Consumer Banking segment increase from $9.8M to $25.1M, Net Interest Margin, Total - % increase of 3% to 4.13%, Net Interest Spread.

Equity composition

Common Stock $.01 Par, 7/12, 45M auth., 3,240,125 issd. Insiders own approx. 1%. IPO: TBA.