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. reports developments for its role as the holding company for 1st Security Bank of Washington, a community bank serving businesses and individuals in Washington and Oregon. News commonly covers quarterly operating results, net interest margin commentary, dividend actions, share repurchase authorizations, and governance updates.
The company’s updates also describe its two reportable segments: Commercial and Consumer Banking, which provides deposits, residential, consumer, business and commercial real estate lending, cash management, and investment-portfolio management; and Home Lending, which originates one-to-four-family residential mortgage loans for sale in secondary markets and for investment. Recurring items include branch and lending-office activity, mortgage leadership, and Pacific Northwest banking operations.
FS Bancorp reported a robust second quarter in 2020 with net income rising to $10.0 million, or $2.30 per diluted share, compared to $4.5 million last year. Total assets surpassed $2 billion, growing by 8.7% from the previous quarter. The Board declared a quarterly cash dividend of $0.21, payable on August 20, 2020. The bank actively assisted clients during the COVID-19 pandemic, providing $103.6 million in loan relief and issuing 463 PPP loans totaling $75.3 million. However, the provision for loan losses increased to $4.6 million amid heightened economic uncertainty.