Fs Bancorp, Inc. ( (FSBW) ) has released its Q1 earnings. Here is a breakdown of the information Fs Bancorp, Inc. presented to its investors.
FS Bancorp, Inc. is a holding company for 1st Security Bank of Washington, offering a range of loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon.
In the first quarter of 2025, FS Bancorp reported a net income of $8.0 million, or $1.01 per diluted share, slightly down from $8.4 million, or $1.06 per diluted share, in the same quarter the previous year. The company also announced its forty-ninth consecutive quarterly cash dividend of $0.28 per common share.
Key financial highlights for the quarter included a significant increase in total deposits by $275.7 million to $2.62 billion, driven largely by an increase in brokered deposits. Borrowings saw a substantial reduction by $239.0 million to $68.8 million. The company’s loan portfolio remained stable at $2.50 billion, with a slight increase in loans receivable compared to the previous year.
The company maintained strong capital ratios, with a total risk-based capital ratio of 14.4% and a Tier 1 leverage capital ratio of 11.3%. FS Bancorp also repurchased 98,317 shares of its common stock and authorized an additional share repurchase program of up to $5.0 million.
Looking ahead, FS Bancorp’s management remains focused on deposit growth and maintaining a strong loan pipeline, positioning the company for continued stability and potential growth in the upcoming quarters.