FS Bancorp, Inc. (FSBW) Bundle
A Brief History of FS Bancorp, Inc. (FSBW)
Company Overview
FS Bancorp, Inc. is the holding company for First Sound Bank, headquartered in Seattle, Washington. As of December 31, 2023, the company reported total assets of $1.58 billion.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $1.58 billion |
| Total Deposits | $1.33 billion |
| Net Income | $26.4 million |
| Return on Average Assets | 1.70% |
Stock Performance
As of January 2024, FS Bancorp (FSBW) trades on the NASDAQ. The stock price ranges between $29.50 and $35.75 per share.
Key Business Segments
- Commercial Banking
- Small Business Lending
- Personal Banking Services
- Mortgage Lending
Geographic Presence
The bank operates 9 full-service branches primarily in the Puget Sound region of Washington State.
Regulatory Capital
| Capital Ratio | 2023 Percentage |
|---|---|
| Tier 1 Capital Ratio | 14.2% |
| Total Risk-Based Capital Ratio | 15.5% |
Corporate Structure
FS Bancorp, Inc. is a publicly traded company with a market capitalization of approximately $280 million as of January 2024.
Who Owns FS Bancorp, Inc. (FSBW)
Institutional Ownership
According to the latest available data, institutional investors own approximately 62.3% of FS Bancorp, Inc. shares.
| Top Institutional Shareholders | Shares Owned | Percentage of Ownership |
|---|---|---|
| Dimensional Fund Advisors LP | 422,745 | 8.91% |
| BlackRock Inc. | 369,560 | 7.79% |
| Vanguard Group Inc. | 330,556 | 6.97% |
Insider Ownership
Insider ownership of FS Bancorp, Inc. stands at 5.2% of total shares.
- Joseph C. Savage (President and CEO): 129,344 shares
- Mark G. Olear (Executive Vice President): 45,678 shares
- Other executive officers: 23,456 shares
Shareholder Distribution
The total number of outstanding shares is 4,742,000 as of the most recent financial reporting period.
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 62.3% |
| Insider Ownership | 5.2% |
| Retail Investors | 32.5% |
Public Float
The public float for FS Bancorp, Inc. is 4,512,000 shares.
Major Shareholders
- Dimensional Fund Advisors LP: 422,745 shares
- BlackRock Inc.: 369,560 shares
- Vanguard Group Inc.: 330,556 shares
- State Street Corporation: 275,432 shares
FS Bancorp, Inc. (FSBW) Mission Statement
Company Overview
FS Bancorp, Inc. is a bank holding company headquartered in Mountlake Terrace, Washington. As of December 31, 2023, the company had total assets of $1.84 billion.
Core Business Strategy
The company focuses on providing banking services through its wholly-owned subsidiary, First Sound Bank, serving the Puget Sound region.
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $1.84 billion |
| Net Income | $25.1 million |
| Loan Portfolio | $1.51 billion |
| Deposits | $1.62 billion |
Key Strategic Objectives
- Provide personalized banking solutions to local businesses and consumers
- Maintain strong community banking presence in Washington state
- Deliver competitive financial products and services
- Maintain robust capital and liquidity positions
Market Performance
As of Q4 2023, FS Bancorp reported a return on average assets of 1.37% and a return on average equity of 12.45%.
Geographic Focus
Primary market concentration in King, Snohomish, and Pierce counties in Washington state.
How FS Bancorp, Inc. (FSBW) Works
Company Overview
FS Bancorp, Inc. (FSBW) is a bank holding company headquartered in Mountlake Terrace, Washington. As of December 31, 2022, the company had total assets of $1.92 billion.
Financial Performance
| Total Assets (2022) | $1.92 billion |
| Net Income (2022) | $48.3 million |
| Return on Average Equity | 12.44% |
| Net Interest Margin | 3.51% |
Business Segments
- Commercial Banking
- Residential Lending
- Consumer Banking
Branch Network
The company operates through its primary subsidiary, First Sound Bank, with 11 full-service branches located in the Puget Sound region of Washington State.
Loan Portfolio Composition
| Commercial Real Estate Loans | $1.14 billion |
| Residential Real Estate Loans | $426.5 million |
| Commercial Business Loans | $233.7 million |
Deposit Base
Total deposits as of December 31, 2022: $1.68 billion
Regulatory Capital
| Total Risk-Based Capital Ratio | 15.68% |
| Tier 1 Capital Ratio | 14.42% |
Stock Information
- Stock Exchange Listing: NASDAQ
- Ticker Symbol: FSBW
How FS Bancorp, Inc. (FSBW) Makes Money
Net Interest Income
As of Q3 2023, FS Bancorp reported net interest income of $31.6 million, representing the primary revenue source from lending activities.
| Income Source | Amount ($) |
|---|---|
| Interest on Loans | 26.4 million |
| Interest on Investment Securities | 5.2 million |
Loan Portfolio Composition
FS Bancorp generates revenue through diverse lending segments:
- Commercial Real Estate Loans: $687.3 million
- Residential Real Estate Loans: $412.5 million
- Commercial Business Loans: $215.6 million
- Consumer Loans: $89.2 million
Non-Interest Income
Non-interest income for Q3 2023 was $4.9 million, including:
| Fee Category | Revenue ($) |
|---|---|
| Service Charges | 1.7 million |
| Mortgage Banking | 1.3 million |
| Other Fees | 1.9 million |
Geographic Revenue Distribution
Revenue primarily generated in Washington State:
- Puget Sound Region: 82% of total revenue
- Other Washington Markets: 18% of total revenue
Financial Performance Metrics
Key financial indicators for 2023:
| Metric | Value |
|---|---|
| Total Assets | $1.8 billion |
| Net Income | $37.5 million |
| Return on Average Assets | 1.42% |
| Net Interest Margin | 3.65% |
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