FS Bancorp, Inc.
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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FY2025 · Filed Mar 13, 2026
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 Statements of Income
FOR THE YEARS ENDED December 31, 2025, 2024 and 2023
(Dollars in thousands, except earnings per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| INTEREST INCOME | 2025 | 2024 | 2023 |
| Loans receivable, including fees | $181,881 | $170,857 | $154,945 |
| Interest and dividends on investment securities, cash and cash equivalents, and certificates of deposit at other financial institutions | 15,365 | 13,980 | 12,247 |
| Total interest and dividend income | 197,246 | 184,837 | 167,192 |
| INTEREST EXPENSE | |||
| Deposits | 57,669 | 53,163 | 36,751 |
| Borrowings | 7,229 | 6,627 | 5,196 |
| Subordinated notes | 1,942 | 1,942 | 1,942 |
| Total interest expense | 66,840 | 61,732 | 43,889 |
| NET INTEREST INCOME | 130,406 | 123,105 | 123,303 |
| PROVISION FOR CREDIT LOSSES | 9,546 | 5,511 | 4,774 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 120,860 | 117,594 | 118,529 |
| NONINTEREST INCOME | |||
| Service charges and fee income | 9,126 | 10,026 | 11,138 |
| Gain on sale of loans | 8,280 | 8,557 | 6,711 |
| Gain on sale of MSRs | — | 8,356 | — |
| Loss on sale of investment securities, net | — | (7,836) | — |
| Earnings on cash surrender value of BOLI | 1,035 | 990 | 920 |
| Other noninterest income | 3,836 | 1,463 | 1,721 |
| Total noninterest income | 22,277 | 21,556 | 20,490 |
| NONINTEREST EXPENSE | |||
| Salaries and benefits | 57,781 | 55,092 | 53,622 |
| Operations | 14,923 | 13,529 | 13,070 |
| Occupancy | 7,129 | 6,857 | 6,378 |
| Data processing | 7,812 | 8,424 | 6,852 |
| Gain on sale of OREO | — | — | (148) |
| Loan costs | 2,918 | 2,685 | 2,574 |
| Professional and board fees | 4,648 | 4,072 | 2,584 |
| Federal Deposit Insurance Corporation (“FDIC”) insurance | 2,310 | 2,005 | 2,392 |
| Marketing and advertising | 1,250 | 1,310 | 1,349 |
| Acquisition cost | — | — | 1,562 |
| Amortization of core deposit intangible | 3,192 | 3,633 | 3,464 |
| Impairment (recovery) of MSRs | 54 | (38) | 48 |
| Total noninterest expense | 102,017 | 97,569 | 93,747 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 41,120 | 41,581 | 45,272 |
| PROVISION FOR INCOME TAXES | 7,774 | 6,557 | 9,219 |
| NET INCOME | $33,346 | $35,024 | $36,053 |
| Basic earnings per share | $4.35 | $4.48 | $4.63 |
| Diluted earnings per share | $4.29 | $4.36 | $4.56 |
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