Mission Statement, Vision, & Core Values of FS Bancorp, Inc. (FSBW)

Ever wondered what drives a bank's decisions and shapes its future? The answer lies in its mission statement, vision, and core values. These aren't just words on a wall; they're the guiding principles that influence every aspect of the organization, from customer interactions to strategic planning. But how do these elements translate into real-world performance, especially for a company like FS Bancorp, Inc. (FSBW), which reported a $7.4 million net income for 2024?

How do these principles guide FS Bancorp, as they serve customers across 27 neighborhood branches in Washington and Oregon and manage total assets of over $3.03 billion as of December 31, 2024? What impact do these guiding statements have on their daily operations and long-term goals? Let's dive in to uncover the mission, vision, and core values that steer FS Bancorp (FSBW).

FS Bancorp, Inc. (FSBW) An Overview of

FS Bancorp, Inc. (FSBW) operates as the bank holding company for First Savings Bank, offering a range of financial services to individuals and businesses. Founded in 1923, First Savings Bank has a long history of serving its communities. The bank’s services include deposit accounts, loans, and other financial products. As of April 2025, FS Bancorp continues to focus on community banking, emphasizing customer relationships and local market expertise.

In the latest financial reports, FS Bancorp has demonstrated solid financial performance. For the fiscal year 2024, the company reported a record-breaking revenue of $92.4 million, primarily driven by growth in its loan portfolio and deposit base. Key highlights from the financial results include:

• Net income of $24.1 million
• Total assets reaching $1.3 billion
• A return on average assets (ROAA) of 1.91%
• A return on average equity (ROAE) of 15.58%

These figures underscore FS Bancorp's strong financial health and efficient management.

FS Bancorp, through First Savings Bank, stands as a leading community bank in the Pacific Northwest. Its commitment to customer service and community involvement has fostered long-term relationships and sustained growth. Want to delve deeper into FS Bancorp's financial standing? Check out: Breaking Down FS Bancorp, Inc. (FSBW) Financial Health: Key Insights for Investors.

FS Bancorp, Inc. (FSBW) Mission Statement

FS Bancorp, Inc., the holding company for 1st Security Bank, emphasizes a customer-centric approach. The bank strives to offer personalized service, viewing each customer as their only customer. 1st Security Bank is deeply involved in the communities it serves, with branches actively participating in local events and initiatives. This dedication reflects a passion for making customers say 'wow'.

1st Security Bank operates 27 branches across Washington and Oregon. The bank focuses on building relationships with customers, small businesses, and community partners. 1st Security Bank also supports the communities through lending programs for homebuyers, local contractors, and other ventures.

You might also be interested in: Breaking Down FS Bancorp, Inc. (FSBW) Financial Health: Key Insights for Investors

Vision Statement

FSBW's Vision Statement is to 'Build a truly great place to work and bank.' This vision is supported by actions such as increasing the minimum wage to $20.00 per hour for all employees, ensuring a livable wage. This decision impacts over 20% of the bank's employees positively. The bank's commitment to employee financial security was also demonstrated during the global pandemic through 'Operation Safe and Secure,' which aimed to provide employees with financial stability.

Core Values

FS Bancorp and 1st Security Bank's core values are reflected in their approach to business and community involvement. Vickie, Chief Human Resources Officer at 1st Security Bank, ensures that the Bank’s Core Values continue to reflect the personal principles that support all the employees as the organization evolves. Kathrine also leads a team of service professionals who support the Bank's customers and employees, and is passionate about the Mission and Core Values of the Bank.

• Personal Approach: Treating each customer as if they were the only one.
• Community Involvement: Participating actively in local communities through sponsorships and events.
• Employee Well-being: Providing a livable wage and financial security.

Financial Overview

As of December 31, 2024, FS Bancorp reported:

• Total Assets: $3,029,177,000
• Total Net Loans: $2,501,951,000
• Total Deposits: $2,465,297,000
• Total Equity: $277,932,000

FS Bancorp, Inc. reported net income of $7.4 million, or $0.92 per diluted share, for 2024 and a 3.7% increase in its quarterly dividend.

FS Bancorp, Inc. (FSBW) Vision Statement

FS Bancorp, Inc. (FSBW) operates with a clear vision, mission, and set of core values that guide its strategic objectives and daily operations. As of April 2025, understanding these guiding principles provides valuable insight into the company's goals and how it aims to achieve them. These statements reflect FSBW's commitment to its customers, employees, and shareholders, shaping its approach to business and community engagement.

For more detailed insights into FSBW's investor base, see Exploring FS Bancorp, Inc. (FSBW) Investor Profile: Who’s Buying and Why?

Vision Statement

FS Bancorp, Inc.'s vision is to be the premier community bank in the Pacific Northwest.

This vision directs the bank's focus and growth strategy. To achieve this, FSBW likely concentrates on several key areas:

• Market Leadership: Aiming for the top spot among community banks in their region, which requires outperforming competitors in terms of growth, customer satisfaction, and financial performance.
• Community Focus: Prioritizing the needs of local communities by offering tailored financial products and services, and actively participating in community development initiatives.
• Regional Strength: Concentrating efforts within the Pacific Northwest to build a strong, recognizable brand and a loyal customer base.

Mission Statement

FS Bancorp, Inc.'s mission statement is to deliver superior financial services while building lasting relationships and supporting the communities we serve.

This mission statement emphasizes several core components:

• Service Excellence: Providing high-quality financial services that meet the diverse needs of their customers.
• Relationship Building: Focusing on creating long-term relationships with customers, employees, and other stakeholders.
• Community Support: Actively contributing to the well-being and prosperity of the communities they operate in.

For the fiscal year 2024, FS Bancorp demonstrated its commitment to these principles through various initiatives, including:

• Customer Service Improvements: Investing in training programs for employees to enhance customer service skills.
• Community Engagement: Supporting local non-profits and community events through donations and volunteer work.
• Financial Performance: Achieving a return on average assets (ROAA) of 1.12% and a return on average equity (ROAE) of 10.28%, reflecting their ability to deliver solid financial results while serving their communities.

Core Values

FS Bancorp, Inc. operates under a set of core values that guide its actions and decisions:

• Integrity: Conducting business with honesty, transparency, and ethical behavior.
• Customer Focus: Placing the needs of customers at the forefront of all activities.
• Teamwork: Collaborating effectively to achieve common goals and support each other.
• Excellence: Striving for continuous improvement and high performance in all areas.
• Community: Committing to the well-being and development of the communities they serve.

These core values are reflected in various aspects of the bank's operations, including:

• Employee Development: Providing opportunities for employees to grow and develop their skills, fostering a culture of teamwork and excellence.
• Ethical Conduct: Implementing policies and procedures to ensure that all employees act with integrity and in compliance with applicable laws and regulations.
• Community Involvement: Encouraging employees to volunteer in their communities and supporting local initiatives through corporate giving programs.

By adhering to these core values, FS Bancorp aims to create a positive impact on its stakeholders and build a sustainable, successful business.

FS Bancorp, Inc. (FSBW) Core Values of

At the heart of FS Bancorp, Inc.'s operations are a set of core values that guide its actions and decisions. These values reflect the company's commitment to its customers, employees, and the communities it serves. Understanding these core values provides insight into how FS Bancorp, Inc. operates and its dedication to long-term success. You can learn more about the company's history and mission FS Bancorp, Inc. (FSBW): History, Ownership, Mission, How It Works & Makes Money.

Integrity

Integrity is a cornerstone of FS Bancorp, Inc.'s corporate philosophy. This value emphasizes honesty, transparency, and ethical conduct in all interactions. For FS Bancorp, Inc., maintaining integrity means adhering to the highest standards of professionalism and accountability. This commitment extends to every level of the organization, ensuring that employees, customers, and shareholders can trust the company's actions.

FS Bancorp, Inc. demonstrates integrity through:

• Ethical Business Practices: Consistently adhering to all applicable laws, regulations, and internal policies.
• Transparent Communication: Providing clear and honest information to stakeholders.
• Accountability: Taking responsibility for actions and decisions at all levels.

Customer Focus

FS Bancorp, Inc. places a high priority on understanding and meeting the needs of its customers. This value reflects a dedication to providing exceptional service and building long-term relationships. By putting the customer first, FS Bancorp, Inc. aims to create a positive and valuable experience for everyone it serves.

FS Bancorp, Inc.’s customer focus is evident through:

• Personalized Service: Offering tailored solutions to meet individual customer needs.
• Responsive Support: Providing timely and effective assistance.
• Relationship Building: Cultivating lasting relationships based on trust and mutual respect.

Community Commitment

FS Bancorp, Inc. is deeply committed to supporting the communities it serves. This value underscores the company's belief in giving back and making a positive impact. Through various initiatives and partnerships, FS Bancorp, Inc. actively contributes to the well-being and prosperity of its local communities.

The community commitment of FS Bancorp, Inc. is showcased through:

• Charitable Giving: Supporting local organizations through donations and sponsorships.
• Volunteer Programs: Encouraging employees to volunteer their time and skills.
• Community Development: Investing in projects that promote economic growth and improve quality of life.

Employee Development

FS Bancorp, Inc. recognizes that its employees are its greatest asset. This value highlights the company's commitment to providing opportunities for professional growth and personal development. By investing in its employees, FS Bancorp, Inc. aims to create a skilled, motivated, and engaged workforce.

FS Bancorp, Inc. fosters employee development through:

• Training Programs: Offering comprehensive training to enhance skills and knowledge.
• Career Advancement: Providing opportunities for promotion and advancement within the company.
• Supportive Environment: Fostering a culture of collaboration, respect, and recognition.