FS Bancorp, Inc. FSBW

Financials SIC 6036 - Savings Institutions, Not Federally Chartered NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Savings Institutions and Other Depository Credit Intermediation derived Nasdaq

FS Bancorp, a Washington corporation, was organized in September 2011 for the purpose of becoming the holding company of 1st Security Bank upon the Bank's conversion from a mutual to a stock savings bank ("Conversion"). The Conversion was completed on July 9, 2012. At December 31, 2025, the Company had consolidated total assets of $3.2 billion, total loans receivable, net of $2.62 billion, total deposits of $2.67 billion, and total stockholders' equity of $307.7 million. The Company has not engaged in significant activities other than holding the stock of the Bank and providing capital to it through the debt and equity markets. Accordingly, the information set forth in this Form 10–K, including the consolidated financial statements and related data, relates primarily to the Bank.

Last close 43.88 2026-10-23
Market cap $326.1M 2026-06-30 share count
52-week range 36.66 - 45.85

Valuation FY2025 figures against the last close

P/S1.7x
P/E10.2x
P/FCF6.3x
EV/EBITDA—
Dividend yield3.1%
Diluted EPS4.29

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $197.2M$184.8M$167.2M$118.7M$3.0M$2.7M$2.9M$1.7M$3.5M$38.0M
SG&A $14.9M$13.5M$13.1M$10.7M$10.8M$10.5M$9.7M$6.7M$6.2M$6.0M
Interest expense $130.4M$123.1M$123.3M$104.3M$9.7M$14.7M$19.3M$10.2M$4.9M$4.2M
Pre-tax income $41.1M$41.6M$45.3M$37.0M$47.4M$49.9M$28.1M$28.6M$20.6M$16.1M
Income tax $7.8M$6.6M$9.2M$7.3M$10.0M$10.6M$5.4M$4.2M$6.5M$5.6M
Net income $33.3M$35.0M$36.1M$29.6M$37.4M$39.3M$22.7M$24.3M$14.1M$10.5M
EPS, basic 4.354.484.633.754.484.585.136.584.553.63
EPS, diluted 4.294.364.563.704.374.495.016.294.283.51
Shares, diluted (wtd. avg.) 7.6M7.9M7.8M7.9M8.4M8.6M4.5M3.9M3.3M3.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $28.2M$31.6M$65.7M$41.4M$26.5M$91.6M$45.8M$32.8M$18.9M$36.5M
Property, plant and equipment $44.1M$29.8M$30.6M$25.1M$26.6M$27.3M$28.8M$29.1M$15.5M$16.0M
Goodwill $3.6M$3.6M$3.6M$2.3M$2.3M$2.3M$2.3M$2.3M$2.3M$2.3M
Other intangibles $10.5M$13.7M$17.3M$3.4M$4.1M$4.8M$5.5M$6.2M$1.3M$1.7M
Total assets $3.20B$3.03B$2.97B$2.63B$2.29B$2.11B$1.71B$1.62B$981.8M$827.9M
Short-term debt $129.3M$307.8M$93.7M$186.5M——————
Long-term debt ———$186.5M$42.5M$165.8M$84.9M———
Total liabilities $2.89B$2.73B$2.71B$2.40B$2.04B$1.88B$1.51B$1.44B$859.8M$746.9M
Retained earnings $280.2M$257.1M$230.4M$202.1M$179.2M$146.4M$110.7M———
Total equity $307.7M$295.8M$264.5M$231.7M$247.5M$230.0M$200.2M$180.0M$122.0M$81.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $72.3M$50.8M$77.7M$184.9M$109.0M-$32.3M$9.2M$21.4M$15.1M$3.6M
Depreciation and amortisation $2.8M$2.5M$2.6M$2.5M$2.7M$2.8M$2.8M$1.8M$1.6M$1.4M
Stock-based compensation $2.3M$1.8M$2.0M$2.0M$1.4M—$869.0K$767.0K$634.0K$783.0K
Capital expenditure $20.4M$1.6M$1.7M$1.6M$2.0M$1.4M$2.5M$3.8M$1.0M$3.6M
Investing cash flow -$206.4M-$104.2M$77.7M-$504.0M-$310.8M-$270.7M-$55.2M-$187.0M-$169.4M$53.3M
Financing cash flow $130.7M$19.3M-$131.1M$334.1M$136.7M$348.8M$59.0M$179.4M$136.8M-$44.8M
Dividends paid $10.3M$8.3M$7.8M$7.1M$4.6M$3.6M$2.9M$1.9M$1.3M$1.1M
Buybacks $15.4M$2.5M$223.0K$15.6M$14.0M$9.8M$4.8M$251.0K$275.0K$4.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-011384.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50M 100M 150M 200M Revenue, FY2016: 38M Net income, FY2016: 10.5M Revenue, FY2017: 3.5M Net income, FY2017: 14.1M Revenue, FY2018: 1.7M Net income, FY2018: 24.3M Revenue, FY2019: 2.9M Net income, FY2019: 22.7M Revenue, FY2020: 2.7M Net income, FY2020: 39.3M Revenue, FY2021: 3M Net income, FY2021: 37.4M Revenue, FY2022: 118.7M Net income, FY2022: 29.6M Revenue, FY2023: 167.2M Net income, FY2023: 36.1M Revenue, FY2024: 184.8M Net income, FY2024: 35M Revenue, FY2025: 197.2M Net income, FY2025: 33.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $38.0M $3.5M $1.7M $2.9M $2.7M $3.0M $118.7M $167.2M $184.8M $197.2M
Gross profit — — — — — — — — — —
Net income $10.5M $14.1M $24.3M $22.7M $39.3M $37.4M $29.6M $36.1M $35.0M $33.3M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 6036

TickerCompanyMarket capP/ERevenue growth
FLG FLAGSTAR BANK, NATIONAL ASSOCIATION $4.31B — -25.0%
BBT Beacon Financial Corp $2.52B 29.2x 81.1%
HFWA HERITAGE FINANCIAL CORP /WA/ $1.19B 14.9x 1.5%
NBBK NB Bancorp, Inc. $1.01B 17.2x 14.8%
SMBC SOUTHERN MISSOURI BANCORP, INC. $792.0M 13.9x 11.7%
TCBX Third Coast Bancshares, Inc. $662.9M 10.5x —
GCBC GREENE COUNTY BANCORP INC $606.3M 19.5x 13.5%
HBCP HOME BANCORP, INC. $483.6M 10.5x 4.9%