Welcome to our dedicated page for Fs Bancorp SEC filings (Ticker: FSBW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
FS Bancorp, Inc. filings document the company’s SEC reporting as the holding company for 1st Security Bank of Washington. Recent 8-K reports furnish earnings releases, investor presentation materials, dividend actions, corrections to event disclosures, and share repurchase authorizations tied to the company’s common stock.
Proxy materials describe annual meeting matters, executive compensation, equity award information, and other governance disclosures. The filing record also reflects the company’s banking segments, capital actions, Regulation FD disclosures, and formal exhibits related to its commercial and consumer banking and home lending operations.
FS Bancorp, Inc. reported second quarter 2026 net income of $7.9 million, or $1.04 per diluted share, slightly higher than both the prior quarter and the same period in 2025. For the first six months of 2026, net income was $15.8 million, or $2.07 per diluted share.
Net interest income for the quarter was $32.6 million, with an annualized net interest margin of 4.30%, unchanged from a year earlier. Provision for credit losses rose to $2.6 million in the quarter and $5.2 million year-to-date, driven by higher net charge-offs, including an additional charge-off on a commercial construction relationship and elevated losses in indirect home improvement loans. Nonperforming loans declined to $15.6 million, or 0.59% of total gross loans, supported by the charge-off and a CRE payoff, while the allowance covered about 199% of nonperforming loans. Total assets were $3.18 billion, deposits $2.45 billion, and book value per share $43.57. The Board declared a regular quarterly cash dividend of $0.29 per share, payable August 21, 2026, marking the 54th consecutive quarterly dividend. The company also continues to work toward closing its proposed merger with Pacific West Bank.
FS Bancorp, Inc. and Pacific West Bancorp have agreed to a stock-and-cash merger in which Pacific West will merge into FS Bancorp, followed by the merger of Pacific West Bank into 1st Security Bank. Pacific West shareholders will share fixed aggregate consideration of $16,832,742 in cash and 430,176 FS Bancorp common shares, electing cash or stock subject to allocation and proration so each share receives nearly equal value based on the volume-weighted average trading price of FSBW before closing.
Based on shares outstanding as of July 9, 2026, Pacific West investors would collectively own approximately 5.8% of FS Bancorp after closing. Approval by holders of a majority of outstanding Pacific West shares is required; FS Bancorp shareholders do not vote. Most bank regulatory approvals have been granted by Oregon, Washington and the FDIC, with Federal Reserve Board approval still required. Closing is targeted for the quarter ending September 30, 2026, with an outside date of December 31, 2026. Pacific West shareholders have dissenters’ rights under Oregon law, and the merger is expected to qualify as a tax-free reorganization for U.S. holders receiving only FS Bancorp stock, subject to detailed tax rules and no IRS ruling.
FS Bancorp, Inc. has filed an amended registration statement and joint proxy statement/prospectus for its stock-and-cash acquisition of Pacific West Bancorp. Pacific West will merge into FS Bancorp, followed by the merger of Pacific West Bank into 1st Security Bank, with FS Bancorp and 1st Security Bank as the surviving entities.
The aggregate merger consideration consists of $16,832,742 in cash and 430,176 FS Bancorp common shares, allocated so each Pacific West share receives approximately equal value based on a 10‑day volume‑weighted average price of FSBW before closing. Illustrative values show total consideration around the mid‑$30 million range, with example per‑share cash in the $11.91–$12.90 band and stock consideration of roughly 0.2987–0.3218 FSBW shares, depending on FS Bancorp’s trading price.
Pacific West shareholders may elect cash or stock, but proration and allocation can change the mix actually received. Based on current share counts, they would own about 5.8% of FS Bancorp after closing. The merger requires approval by a majority of Pacific West’s outstanding shares and specified banking regulators; Oregon, Washington and FDIC approvals for the bank merger have been granted, subject to Federal Reserve approval. Dissenters’ rights are available under Oregon law, and the transaction is expected to qualify as a tax reorganization under Section 368(a) of the Internal Revenue Code.
FS Bancorp and Pacific West Bancorp entered a merger agreement under which Pacific West will merge into FS Bancorp, with FS Bancorp as the surviving company. The aggregate merger consideration consists of $16,832,742 in cash and 430,176 shares of FS Bancorp common stock. Based on the February 25, 2026 closing share value cited at signing ($41.69 VWAP), the proxy shows an illustrative per-share cash consideration of $12.64 or 0.3032 shares of FS Bancorp per Pacific West share. Pacific West had 2,707,530 shares outstanding as of the record reference date and Pacific West shareholders may elect cash or stock for all shares subject to allocation and proration procedures described in the merger agreement. The transaction requires Pacific West shareholder approval and regulatory clearances; state regulators have approved the bank merger conditionally and federal approvals remain pending.
FS Bancorp, Inc. has completed a planned leadership transition by naming Matthew D. Mullet as Chief Executive Officer of the Company, effective June 1, 2026. This move follows a CEO succession plan first announced on August 15, 2025.
Mullet already serves as President and CEO of 1st Security Bank of Washington and as President of FS Bancorp; he will continue in those roles along with his new CEO position. He previously served as the Bank’s Chief Financial Officer since 2011.
Former CEO Joe Adams retired from the CEO role on May 31, 2026 and will remain on the boards of both the Company and the Bank. The filing also reiterates the Bank’s focus on serving small- and middle-market customers across Washington and Oregon through a network of branches and loan production offices.
FS Bancorp, Inc. reported results of its annual shareholder meeting. Shareholders elected Terri L. Degner with 4,744,149 votes for (84.29% of shares present) and Michael J. Mansfield with 4,403,524 votes for (78.23% of shares present) to three-year board terms expiring in 2029. An advisory vote approved executive compensation, with 5,144,997 votes for versus 304,385 against and 179,274 abstentions. Shareholders also approved the FS Bancorp, Inc. 2026 Equity Incentive Plan, with 5,461,736 votes for and 103,062 against. Baker Tilly US, LLP was ratified as independent registered public accounting firm for the year ending December 31, 2026, receiving 6,459,742 votes for and 60,717 against.
FS Bancorp, Inc. filed an amended quarterly report to correct a typographical error in the number of common shares shown on the cover page. The corrected figure is 7,414,542 shares outstanding as of May 5, 2026. No other part of the original Form 10‑Q was changed or updated by this amendment.
FS Bancorp, Inc. CCO/EVP Robert A. Nesbitt recorded a small acquisition of company stock through a compensation plan. A Form 4 shows an "other" transaction of 14 shares of common stock at $41.37 per share, purchased under the issuer's Nonqualified 2022 Stock Purchase Plan, which includes a 25% match.
Following this transaction, the filing lists 211 directly held shares tied to this account, 4,347 additional directly held shares, and 1,313 indirectly held shares through an ESOP. The activity appears routine and compensation-related rather than an open‑market trade.
FS Bancorp, Inc. reported first‑quarter 2026 net income of $7.8 million, slightly below $8.0 million a year earlier, as higher credit costs offset stronger interest income. Net interest income rose to $32.5 million, supported by loan yields, while total assets were $3.20 billion and deposits $2.64 billion.
The provision for credit losses increased to $2.5 million, driven mainly by elevated net charge‑offs in indirect home improvement consumer loans. The allowance for credit losses on loans reached $32.4 million. Capital remained solid, with stockholders’ equity of $313.9 million.
On February 25, 2026, FS Bancorp announced a definitive agreement to acquire Pacific West Bancorp in a stock‑and‑cash transaction valued at approximately $34.6 million, subject to regulatory and Pacific West shareholder approvals, aiming to expand its community banking footprint.