Welcome to our dedicated page for Fs Bancorp news (Ticker: FSBW), a resource for investors and traders seeking the latest updates and insights on Fs Bancorp stock.
FS Bancorp, Inc. (NASDAQ: FSBW) is the holding company for 1st Security Bank of Washington, a regional banking organization that offers loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon. The FSBW news page on Stock Titan aggregates company announcements, earnings releases, and other disclosures that the company furnishes to investors and the public.
News about FS Bancorp frequently covers its quarterly financial results, including net income, segment performance for Commercial and Consumer Banking and Home Lending, and detailed information on deposits, loans receivable, and asset composition. The company also issues press releases and related Form 8-K filings when its Board of Directors declares regular quarterly cash dividends on common stock.
Another recurring topic in FS Bancorp’s news flow is capital management, particularly share repurchase programs. The company has announced multiple authorizations for additional repurchases of its common stock, with details on program size, duration, and the flexibility to conduct open market or private transactions or use Rule 10b5-1 trading plans.
FS Bancorp’s news also highlights leadership and governance developments, such as CEO succession plans at the Bank, promotions to roles like Chief Financial Officer and Chief Compliance Officer, and appointments in key business areas such as home lending. These updates provide insight into the company’s management structure and succession planning.
Investors, analysts, and other interested readers can use the FSBW news page on Stock Titan to follow these earnings announcements, dividend declarations, share repurchase updates, and executive leadership changes as they are reported by the company.
1st Security Bank announced the appointment of Shawn Carlson as the new VP, Community & Business Banking Officer on January 4, 2022. With over 20 years of experience in the Pacific Northwest, Carlson specializes in business banking, particularly for software, manufacturing, and specialty trade contractor sectors. His expertise is expected to significantly contribute to the Bank's growth. 1st Security Bank operates 21 branches, providing various loan and deposit services while emphasizing community involvement.
FS Bancorp, Inc (NASDAQ: FSBW) has been honored as the Best Community Bank in Bank Director’s 2022 Ranking Banking Study. The Bank's leadership team ranked #1 among all examined banks for their strength and effectiveness. The study evaluates U.S. banks based on quantitative metrics like profitability and growth, alongside qualitative factors such as innovation and leadership. CEO Joe Adams expressed gratitude for the accolade, attributing the success to the team's collaborative efforts in community banking.
1st Security Bank has announced its participation in a pilot program aimed at enhancing financing options for accessory dwelling units (ADUs). Successful implementation could lead to broader access across the mortgage industry, benefiting borrowers nationwide. The program allows rental income from ADUs to be counted as qualifying income, potentially increasing borrowers' purchasing power and reducing expenses on cash-out refinances. The initiative supports affordable housing and increases neighborhood density in major metropolitan areas.
On November 9, 2021, 1st Security Bank announced the implementation of Remote Online Notarization (RON) within its Home Lending division, enhancing the mortgage closing process. This digital solution allows borrowers to preview and sign documents remotely before finalizing with a notary via videoconference, reducing travel time and paperwork. Executive VP Donn Costa highlighted that RON offers greater convenience and efficiency, potentially becoming the standard for mortgage closings. Remote notarization ensures high security and accessibility for borrowers globally.
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MOUNTLAKE TERRACE, WA, October 28, 2021 - FS Bancorp, Inc. (NASDAQ: FSBW) reported a decline in third-quarter net income to $8.3 million ($0.97/share) from $12.7 million ($1.47/share) a year earlier. The Board declared a cash dividend of $0.15 per share, increasing from $0.14, set for payment on November 24, 2021. Strong earnings facilitated $6.8 million in share buybacks, with an additional $10 million approved. Total loans receivable reached $1.68 billion, a 12.5% year-over-year increase. The company maintains a Community Bank Leverage Ratio of 11.9%, indicating robust capital management.
1st Security Bank has appointed Kevin Richards as Senior Vice President, Commercial Lending Relationship Manager, to enhance its Commercial and Industrial (C&I) Lending Team. Based in Mountlake Terrace, WA, Richards brings nearly 20 years of banking experience, including 12 years in commercial lending, focusing on consulting firms, manufacturing, and commercial real estate. His recruitment is part of the Bank's ongoing effort to strengthen its C&I portfolio and improve customer service.
FS Bancorp (NASDAQ: FSBW) has announced a new share repurchase program, authorizing the buyback of up to $10 million of its common stock. This program is in addition to an existing $15 million program, which has about $900,000 left. The repurchases can occur through open market or private transactions, with management deciding the timing and pricing based on various factors like stock availability and market conditions. This strategic move aims to enhance shareholder value.
1st Security Bank has received certification for its 1st Step Checking account from the national Cities for Financial Empowerment Fund (CFE Fund), confirming compliance with the Bank On National Account Standards for 2021-2022. This certification highlights the account's affordability and safety, aimed at enhancing access to banking for the unbanked and underbanked in the Puget Sound region. The Bank's commitment to providing valuable financial products is evident through this partnership, which fosters better financial stability for local communities.
1st Security Bank has announced its participation in Fannie Mae's RefiNow program aimed at helping low-to-moderate income homeowners refinance their mortgages. This initiative targets homeowners earning at or below 80% of the area median income, enabling them to secure lower interest rates and reduce monthly payments. The program is accessible to eligible borrowers with Fannie Mae loans serviced by the bank across Washington, Oregon, Idaho, Montana, Arizona, and California. This move reflects the bank's commitment to supporting community members in financial need.