FS Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
FSBW$43.52-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets at December 31, 2023 and 2022
DECEMBER 31, 2023 AND 2022
(Dollars in thousands, except share data)
| December 31, | December 31, | |
|---|---|---|
| ASSETS | 2023 | 2022 |
| Cash and due from banks | $17,083 | $10,525 |
| Interest-bearing deposits at other financial institutions | 48,608 | 30,912 |
| Total cash and cash equivalents | 65,691 | 41,437 |
| Certificates of deposit at other financial institutions | 24,167 | 4,712 |
| Securities available-for-sale, at fair value | 292,933 | 229,252 |
| Securities held-to-maturity, net of allowance for credit losses of $45 and $31, respectively (fair value of $7,666 and $7,929, respectively) | 8,455 | 8,469 |
| Loans held for sale, at fair value | 25,668 | 20,093 |
| Loans receivable, net (includes $15,088 and $14,035, at fair value, respectively) | 2,401,481 | 2,190,860 |
| Accrued interest receivable | 14,005 | 11,144 |
| Premises and equipment, net | 30,578 | 25,119 |
| Operating lease right-of-use (“ROU”) assets | 6,627 | 6,226 |
| Federal Home Loan Bank (“FHLB”) stock, at cost | 2,114 | 10,611 |
| Other real estate owned (“OREO”) | — | 570 |
| Deferred tax asset, net | 6,725 | 6,670 |
| Bank owned life insurance (“BOLI”), net | 37,719 | 36,799 |
| Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value | 9,090 | 18,017 |
| MSRs held for sale, held at the lower of cost or fair value | 8,086 | — |
| Goodwill | 3,592 | 2,312 |
| Core deposit intangible, net | 17,343 | 3,369 |
| Other assets | 18,395 | 17,240 |
| TOTAL ASSETS | $2,972,669 | $2,632,900 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing accounts | $670,831 | $554,174 |
| Interest-bearing accounts | 1,851,492 | 1,573,567 |
| Total deposits | 2,522,323 | 2,127,741 |
| Borrowings | 93,746 | 186,528 |
| Subordinated notes: | ||
| Principal amount | 50,000 | 50,000 |
| Unamortized debt issuance costs | (473) | (539) |
| Total subordinated notes less unamortized debt issuance costs | 49,527 | 49,461 |
| Operating lease liabilities | 6,848 | 6,474 |
| Other liabilities | 35,737 | 30,999 |
| Total liabilities | 2,708,181 | 2,401,203 |
| COMMITMENTS AND CONTINGENCIES (NOTE 13) | ||
| STOCKHOLDERS’ EQUITY | ||
| Preferred stock, $.01 par value; 5,000,000 shares authorized; none issued or outstanding | — | — |
| Common stock, $.01 par value; 45,000,000 shares authorized; 7,800,545 and 7,736,185 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 78 | 77 |
| Additional paid-in capital | 57,362 | 55,187 |
| Retained earnings | 230,354 | 202,065 |
| Accumulated other comprehensive loss, net of tax | (23,306) | (25,632) |
| Total stockholders’ equity | 264,488 | 231,697 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $2,972,669 | $2,632,900 |
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