FS Bancorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 17, 2025
FSBW$43.55-0.5%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
DECEMBER 31, 2024 AND 2023
(Dollars in thousands, except share data)
| December 31, | ||
|---|---|---|
| ASSETS | 2024 | 2023 |
| Cash and due from banks | $19,280 | $17,083 |
| Interest-bearing deposits at other financial institutions | 12,355 | 48,608 |
| Total cash and cash equivalents | 31,635 | 65,691 |
| Certificates of deposit at other financial institutions | 1,727 | 24,167 |
| Securities available-for-sale, at fair value (amortized cost of $310,272 and $328,695, net of allowance for credit losses of $0 and $0, respectively) | 281,175 | 292,933 |
| Securities held-to-maturity, net of allowance for credit losses of $45 (fair value of $8,144 and $7,666, respectively) | 8,455 | 8,455 |
| Loans held for sale, at fair value | 27,835 | 25,668 |
| Loans receivable, net of allowance for credit losses of $31,870 and $31,534 (includes loans of $12,728 and $15,088, at fair value, respectively) | 2,501,951 | 2,401,481 |
| Accrued interest receivable | 13,881 | 14,005 |
| Premises and equipment, net | 29,756 | 30,578 |
| Operating lease right-of-use (“ROU”) assets | 5,378 | 6,627 |
| Federal Home Loan Bank (“FHLB”) stock, at cost | 15,621 | 2,114 |
| Deferred tax asset, net | 7,059 | 6,725 |
| Bank owned life insurance (“BOLI”), net | 38,528 | 37,719 |
| Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value | 9,204 | 9,090 |
| MSRs held for sale, held at the lower of cost or fair value | — | 8,086 |
| Goodwill | 3,592 | 3,592 |
| Core deposit intangible, net | 13,710 | 17,343 |
| Other assets | 39,670 | 18,395 |
| TOTAL ASSETS | $3,029,177 | $2,972,669 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing accounts | $638,158 | $670,831 |
| Interest-bearing accounts | 1,701,260 | 1,851,492 |
| Total deposits | 2,339,418 | 2,522,323 |
| Borrowings | 307,806 | 93,746 |
| Subordinated notes: | ||
| Principal amount | 50,000 | 50,000 |
| Unamortized debt issuance costs | (406) | (473) |
| Total subordinated notes less unamortized debt issuance costs | 49,594 | 49,527 |
| Operating lease liabilities | 5,556 | 6,848 |
| Other liabilities | 31,036 | 35,737 |
| Total liabilities | 2,733,410 | 2,708,181 |
| COMMITMENTS AND CONTINGENCIES (NOTE 12) | ||
| 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; 7,833,014 and 7,800,545 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively | 78 | 78 |
| Additional paid-in capital | 55,716 | 57,362 |
| Retained earnings | 257,113 | 230,354 |
| Accumulated other comprehensive loss, net of tax | (17,140) | (23,306) |
| Total stockholders’ equity | 295,767 | 264,488 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $3,029,177 | $2,972,669 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.