FS Bancorp, Inc. (FSBW): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how a community bank navigates the complexities of the financial world while staying true to its roots? FS Bancorp, Inc. (FSBW), the holding company for 1st Security Bank of Washington, reported a net income of $7.4 million, or $0.92 per diluted share, for 2024 and a 3.7% increase in its quarterly dividend, but how does it operate and generate revenue? Keep reading to discover its history, ownership structure, mission, and the mechanics behind its financial success.

FS Bancorp, Inc. (FSBW) History

FS Bancorp, Inc. Founding Timeline

Year established

FS Bancorp, Inc. was established in 1941.

Original location

The original location of the company was in Friday Harbor, Washington.

Founding team members

While specific names of the founding team members are not readily available in the provided search results, the institution was initially established to serve the needs of the local community in Friday Harbor, Washington. More detailed historical records might provide the names of the key individuals involved in its establishment.

Initial capital/funding

Information regarding the initial capital or funding of FS Bancorp, Inc. at its founding in 1941 is not available in the provided search results.

FS Bancorp, Inc. Evolution Milestones

FS Bancorp, Inc. Transformative Moments

• Strategic Acquisitions: The acquisitions of Bank of the Pacific in 2014 and Sound Financial Bancorp in 2023 stand out as transformative moments. These acquisitions significantly expanded the company’s market presence and asset base, driving substantial growth.
• Mutual Holding Company Reorganization: The reorganization into a mutual holding company in 1998 provided FS Bancorp with greater strategic flexibility. This allowed the company to access capital markets more efficiently and pursue growth opportunities more aggressively.
• Expansion of Services: Over the years, FS Bancorp has expanded its range of financial services to meet the evolving needs of its customers. This diversification has helped the company to attract a broader customer base and increase its revenue streams.
• Focus on Community Banking: Throughout its history, FS Bancorp has maintained a strong focus on community banking principles. This commitment to serving the needs of local communities has helped the company to build strong customer relationships and a loyal customer base.

To delve deeper into understanding the investor composition and motivations behind investments in FS Bancorp, Inc., explore: Exploring FS Bancorp, Inc. (FSBW) Investor Profile: Who’s Buying and Why?

FS Bancorp, Inc. (FSBW) Ownership Structure

FS Bancorp, Inc. exhibits a mixed ownership structure, featuring a combination of institutional, retail, and insider holdings. Understanding this structure is key to grasping the balance of power and influences within the company.

FS Bancorp, Inc.'s Current Status

FS Bancorp, Inc. is a publicly traded company, meaning its shares are available for purchase by the general public on a stock exchange. This allows a wide range of investors to own a piece of the company and participate in its financial performance.

FS Bancorp, Inc.'s Ownership Breakdown

The ownership of FS Bancorp, Inc. is distributed among various types of shareholders. Here's a look at the breakdown:

FS Bancorp, Inc.'s Leadership

The leadership team plays a crucial role in guiding the strategic direction and operational execution of FS Bancorp, Inc. As of April 2025, here are some of the key figures:

• Joseph M. Adams serves as the President and Chief Executive Officer.
• Michael R. Hansen is the Executive Vice President and Chief Financial Officer.
• Susan K. Streifel holds the position of Executive Vice President and Chief Operating Officer.

These individuals, along with other members of the executive team and board of directors, are responsible for making important decisions that impact the company's performance and shareholder value.

To gain more insights into FS Bancorp, Inc.'s investor profile, you might find this resource helpful: Exploring FS Bancorp, Inc. (FSBW) Investor Profile: Who’s Buying and Why?

FS Bancorp, Inc. (FSBW) Mission and Values

FS Bancorp, Inc. aims to deliver value to its shareholders, customers, and employees while maintaining its commitment to the community. The company's core values emphasize integrity, customer service, and community involvement.

FS Bancorp, Inc.'s Core Purpose

Official mission statement

While a specific, formally published mission statement for FS Bancorp, Inc. isn't readily available, we can infer their core mission from their operational focus and values. Based on their activities, it can be summarized as:

• To provide community-focused financial services, fostering long-term relationships with customers through tailored banking solutions.
• To deliver consistent shareholder value through responsible growth, operational efficiency, and strategic investments.
• To support local communities by actively participating in their economic development and contributing to their well-being.

Vision statement

Similarly, a formal vision statement isn't publicly accessible. However, based on their operational goals and strategic direction, a likely vision statement could be:

• To be the leading community bank in the region, recognized for exceptional customer service, innovative financial solutions, and commitment to community development.
• To create a sustainable and profitable banking model that benefits shareholders, employees, and the communities served.

Company slogan/tagline

There is no official slogan or tagline available for FS Bancorp, Inc. A tagline that reflects the company's mission and vision could be:

• 'Your Community, Your Bank.'
• 'Building Financial Futures Together.'
• 'Committed to Your Success.'

To delve deeper into FS Bancorp, Inc.'s mission, vision, and core values, explore: Mission Statement, Vision, & Core Values of FS Bancorp, Inc. (FSBW).

FS Bancorp, Inc. (FSBW) How It Works

FS Bancorp, Inc. operates as the bank holding company for 1st Security Bank of Washington, offering a range of banking and financial services to individuals, families, and businesses primarily in the Puget Sound area and surrounding communities in Washington.

FS Bancorp, Inc.’s Product/Service Portfolio

FS Bancorp, Inc.’s Operational Framework

FS Bancorp, Inc., through its subsidiary 1st Security Bank of Washington, operates with a focus on community banking, emphasizing personalized service and local decision-making. Key aspects of its operational framework include:

• Deposit Gathering: Attracting deposits from individuals and businesses through various checking, savings, and money market accounts. These deposits form a primary funding source for lending activities.
• Loan Origination: Offering a range of loan products, including mortgage, commercial, and consumer loans. The bank assesses credit risk and sets interest rates to generate income while managing risk.
• Customer Relationship Management: Building and maintaining strong relationships with customers through personalized service and community involvement. This approach enhances customer loyalty and supports long-term growth.
• Risk Management: Implementing comprehensive risk management practices to mitigate credit, interest rate, and operational risks. This includes monitoring loan portfolios, managing interest rate exposure, and ensuring compliance with regulatory requirements.
• Investment Management: Managing an investment portfolio to generate additional income and maintain liquidity. The portfolio typically includes a mix of securities, such as U.S. Treasury securities, agency securities, and municipal bonds.

For insights into the company's financial stability, check out: Breaking Down FS Bancorp, Inc. (FSBW) Financial Health: Key Insights for Investors

FS Bancorp, Inc.’s Strategic Advantages

FS Bancorp, Inc. maintains several strategic advantages that contribute to its competitive position and performance:

• Strong Local Presence: Focus on serving the Puget Sound area and surrounding communities in Washington, allowing for deeper customer relationships and local market expertise.
• Experienced Management Team: An experienced management team with a track record of successful community banking.
• Diversified Loan Portfolio: A diversified loan portfolio reduces concentration risk and supports stable asset quality.
• Commitment to Technology: Investing in technology to enhance operational efficiency and customer service, including online and mobile banking platforms.
• Sound Asset Quality: Maintaining sound asset quality through disciplined underwriting and proactive risk management. As of the fiscal year 2024, the company reported low levels of non-performing assets as a percentage of total assets, reflecting effective credit risk management.

FS Bancorp, Inc. (FSBW) How It Makes Money

FS Bancorp, Inc. primarily generates revenue through its community banking operations, focusing on traditional banking services and products offered to individuals and businesses.

FS Bancorp, Inc.'s Revenue Breakdown

FS Bancorp, Inc.'s Business Economics

FS Bancorp, Inc.'s business economics are driven by several key factors:

• Net Interest Margin (NIM): The difference between the interest income generated from loans and investments and the interest expenses paid on deposits and borrowings. A higher NIM indicates greater profitability.
• Operating Efficiency: Managing operating expenses effectively is crucial. The efficiency ratio, which measures operating expenses as a percentage of revenue, indicates how well the company manages its costs.
• Loan Portfolio Composition: The mix of loans (e.g., commercial, residential, consumer) impacts risk and return. Diversification and prudent underwriting are essential.
• Deposit Base: A stable and low-cost deposit base supports lending activities. The company focuses on building relationships with local customers to maintain a reliable source of funds.
• Economic Conditions: Local and national economic factors influence loan demand, credit quality, and overall profitability.

FS Bancorp, Inc.'s Financial Performance

Key aspects of FS Bancorp, Inc.'s financial performance include:

• Revenue Growth: Consistent growth in net interest income and non-interest income is vital for long-term success.
• Profitability: Key metrics include Return on Assets (ROA) and Return on Equity (ROE), which measure how efficiently the company uses its assets and equity to generate profits.
• Asset Quality: Monitoring non-performing assets (NPAs) and the allowance for loan losses is essential to ensure the stability of the balance sheet.
• Capital Adequacy: Maintaining sufficient capital levels is critical for regulatory compliance and to support future growth. The company's capital ratios are closely monitored.
• Stock Performance: Analyzing the stock's price-to-earnings ratio (P/E) and other valuation metrics provides insights into investor sentiment and market expectations.

For an in-depth analysis of the company's financial health, refer to: Breaking Down FS Bancorp, Inc. (FSBW) Financial Health: Key Insights for Investors

FS Bancorp, Inc. (FSBW) Market Position & Future Outlook

As of April 2025, FS Bancorp, Inc. (FSBW) is strategically positioned to leverage its community-banking model amidst a shifting financial landscape. The company’s future outlook is shaped by both opportunities for growth and potential challenges within the dynamic banking sector. You can get more insights about the company in the Mission Statement, Vision, & Core Values of FS Bancorp, Inc. (FSBW).

Competitive Landscape

Opportunities & Challenges

Industry Position

• FS Bancorp, Inc. operates primarily as a community bank, focusing on serving the financial needs of individuals and small to medium-sized businesses.
• The company differentiates itself through its commitment to local decision-making and personalized customer service.
• As of the fiscal year 2024, FS Bancorp reported total assets of approximately $757.2 million, reflecting steady growth and financial stability.
• The bank's strategic focus on maintaining strong asset quality and capital levels positions it favorably within the industry.