FS Bancorp, Inc. is the holding company for 1st Security Bank of Washington, a community-based savings bank serving households and small-to-middle-market businesses in Washington and Oregon. The bank gathers deposits and originates a mix of consumer, mortgage, commercial real estate, construction, and business loans through branches and loan production offices concentrated in the Puget Sound and nearby regional markets.
| % | |
|---|---|
| Deposit activities | 25% Core funding products including checking, savings, and other deposit accounts used to support lending. |
| Residential mortgage lending | 30% Home loans originated for purchase, refinance, and related mortgage banking activity. |
| Commercial real estate lending | 25% Owner-occupied and non-owner-occupied CRE loans, including related construction exposure. |
| Commercial and industrial lending | 10% Business-purpose loans and lines of credit for small and middle-market companies. |
| Consumer and other lending | 10% Smaller-balance consumer loans and other banking services to retail customers. |
The bank primarily serves small- and middle-market businesses and individuals in its local branch footprint...
Borrow commercial loans, CRE financing, and lines of credit for working capital and expansion.
Open deposit accounts and obtain residential mortgage and consumer loans.
Use owner-occupied and non-owner-occupied CRE loans plus construction financing.
Choose the bank for local presence, deposit convenience, and faster credit decisions.
FS Bancorp operates mainly in Washington and Oregon, with branches and loan production offices concentrated in the...
The company’s strategy centers on relationship banking in defined local markets, using branches and loan production...
Stable core deposits reduce funding volatility and support loan growth.
Loan losses and reserve needs are central to earnings in a lending-heavy bank.
Adding branches or offices can deepen local relationships and broaden origination capacity.
Digital banking and third-party systems are essential to customer retention and operations.
FS Bancorp is exposed to regional economic weakness, especially in its Washington and Oregon markets, where employment...
Borrowers are concentrated in Washington and Oregon communities, so weaker employment or spending can hurt repayment and growth.
A meaningful part of the loan book is tied to CRE and development activity, which is cyclical and collateral-sensitive.
The bank relies on online systems and third-party vendors for core operations and customer access.
Deposit pricing and asset yields can reprice at different speeds, affecting net interest income.
Acquisition-related goodwill can be written down if performance or market conditions weaken.
: 28.4.2026