FS Bancorp names CEO Matthew D. Mullet to board
Mullet has served as president of the company and bank since July 2024, and became CEO of the bank in September 2025 and the company in June 2026.
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Form Type
8-K
Rhea-AI Filing Summary
FS Bancorp, Inc. appointed Matthew D. Mullet to the boards of the company and 1st Security Bank of Washington, effective October 22, 2026. The Governance Nominating and Culture Committee proposed his appointment to the company’s board, and the Board of Directors ratified and approved it.
Mullet has served as president of the company and bank since July 2024, and as CEO of the bank since September 2025 and the company since June 2026. He joined the company and bank in July 2011. He also serves as a board member of the Washington Bankers Association and the Seattle Branch of the Federal Reserve Bank of San Francisco.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Board appointment effective date: October 22, 2026
President role began: July 2024
Bank CEO appointment: September 2025
+2 more
5 metrics
Board appointment effective date
October 22, 2026
Appointment to the company and bank boards
President role began
July 2024
President of the company and bank
Bank CEO appointment
September 2025
Mullet was appointed CEO of the bank
Company CEO appointment
June 2026
Mullet was appointed CEO of the company
Bank branches
32 bank branches
Bank operations
Key Terms
holding company, financial examiner, loan production offices, forward-looking statements
4 terms
holding company financial
"the holding company for 1st Security Bank of Washington"
A holding company is an organization that owns enough shares of other businesses to control them but usually does not run their day-to-day operations. Think of it as an umbrella or parent that lets investors gain exposure to several companies through one vehicle; its value depends on the performance, risks, dividends and debts of the companies it holds, so it matters for assessing diversification, control and consolidated financial health.
financial examiner regulatory
"began his banking career in June 2000 as a financial examiner"
loan production offices financial
"loan production offices in various suburban communities"
Loan production offices are small branches that focus on finding, interviewing and processing loan applications but typically do not take deposits or offer full banking services; think of them as a lender’s storefront that generates loan business without a full back-office bank branch. Investors watch them because they signal a bank’s strategy to grow lending in new areas with lower upfront cost, which can boost revenue but may raise oversight, credit quality and regulatory risks.
forward-looking statements regulatory
"identify “forward-looking statements” within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Who was appointed to the FSBW board?
Matthew D. Mullet was appointed to the boards of FS Bancorp and 1st Security Bank of Washington, effective October 22, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 22, 2026
(Exact name of registrant as specified in its charter)
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| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
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Registrant’s telephone number, including area code: (425 ) 771-5299
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. |
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| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 22, 2026, FS Bancorp, Inc. (“Company”), the holding company for 1st Security Bank of Washington (“Bank”), announced that Matthew D. Mullet has been appointed, beginning October 22, 2026 to serve on the Boards of Directors of the Company and the Bank.
Mr. Mullet has been the President of the Company and Bank since July 2024 and was appointed Chief Executive Officer of the Bank in September 2025 and of the Company in June 2026. He joined the Company and Bank in July 2011 and was appointed Chief Financial Officer in September 2011. Mr. Mullet began his banking career in June 2000 as a financial examiner with the Washington State Department of Financial Institutions, Division of Banks. He also serves as a Board member of the Washington Bankers Association (“WBA”), the Seattle Branch of the Federal Reserve Bank of San Francisco and is also on the Government Relations Committee with the WBA.
There are no family relationships between Mr. Mullet and any director or executive officer of the Company and the Bank. Mr. Mullet has not engaged in any transaction with the Company or the Bank that would be reportable as a related party transaction under the rules of the Securities and Exchange Commission.
Item 9.01. Financial Statements and Exhibits
| (d) | Exhibits |
| 99.1 | Press Release of FS Bancorp, Inc. dated October 23, 2026. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: October 23 , 2026
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FS BANCORP, INC.
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/s/ Phillip Whittington
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Phillip Whittington
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Chief Financial Officer
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Exhibit 99.1
FS Bancorp, Inc. Annouces the Appointment of Matthew D. Mullet as a Director of FS Bancorp, Inc.
MOUNTLAKE TERRACE, WA – October 23, 2026– FS Bancorp, Inc. (NASDAQ: FSBW) (the “Company”), the holding company for 1st Security Bank of Washington (the “Bank”), today announced that Matthew D. Mullet had been appointed to serve on the Boards of Directors of both the Company and the Bank.
The Company’s Governance Nominating and Culture Committee proposed Mr. Mullet’s appointment to the Company’s Board and the Board of Directors ratified and approved the appointment. His appointment to the Board of Directors was effective October 22, 2026.
“We are pleased to welcome Matt to our Board of Directors,” said Ted A. Leech, Chairman of the Board. His extensive leadership experience across all areas of banking along with his deep understanding of financial services, loan and deposit strategies, regulatory expertise, operations, governance and risk management, will be invaluable as the Company continues to expand and strengthen the value we deliver to our shareholders, customers, employees and communities.”
Mr. Mullet has been the President of the Company and Bank since July 2024 and was appointed Chief Executive Officer of the Bank in September 2025 and of the Company in June 2026. He joined the Company and Bank in July 2011 and was appointed Chief Financial Officer in September 2011. Mr. Mullet began his banking career in June 2000 as a financial examiner with the Washington State Department of Financial Institutions, Division of Banks. He also serves as a Board member of the Washington Bankers Association (“WBA”), the Seattle Branch of the Federal Reserve Bank of San Francisco and is also on the Government Relations Committee with the WBA.
About FS Bancorp
FS Bancorp, Inc., a Washington corporation, is the holding company for 1st Security Bank of Washington. The Bank offers a range of loan and deposit services primarily to small- and middle market businesses and individuals in Washington and Oregon. It operates through its 32 bank branches, one headquarter office that provides loans and deposit services and loan production offices in various suburban communities in the greater Puget Sound area, the Kennewick-Pasco-Richland metropolitan area of Washington, also known as the Tri-Cities, and in the Portland, Oregon market including Vancouver, Washington. Additionally, the Bank services home mortgage customers across the Northwest, focusing on markets in Washington State including the Puget Sound, Tri-Cities and Vancouver.
Forward Looking Statements:
When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management's current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements. Factors that could cause our actual results to differ materially from those described in the
forward-looking statements, include, but are not limited to, the following: increased competitive pressures; changes in the interest rate environment; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission – that are available on our website at www.fsbwa.com and on the SEC's website at www.sec.gov.
Any of the forward-looking statements that we make in this Press Release and in the other public statements are based upon management's beliefs and assumptions at the time they are made and may turn out to be wrong because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for 2026 and beyond to differ materially from those expressed in any forward-looking statements made by, or on behalf of, us and could negatively affect our operating and stock performance.
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Contact:
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Matthew D. Mullet,
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President and Chief Executive Officer
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(425) 771-5299
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www.FSBWA.com
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