FS Bancorp, Inc. reports slight decrease in net income for Q1 2025

From GlobeNewswire: 2025-04-22 16:30:00

FS Bancorp, Inc. reported a net income of $8.0 million for the first quarter of 2025, a slight decrease from the previous year. Deposit growth exceeded expectations, with total deposits increasing by $275.7 million. The Board of Directors approved a cash dividend of $0.28 per common share.

Key financial highlights from the first quarter of 2025 include total assets increasing to $3.07 billion, a slight increase from the previous year. Loans receivable remained stable at $2.50 billion. The Company also repurchased shares and authorized an additional share repurchase program of up to $5.0 million.

Segment reporting showed net income of $7.8 million for the Commercial and Consumer Banking segment and $241,000 for the Home Lending segment. Regulatory capital ratios remained strong, with the Bank being considered “well capitalized” with total risk-based capital ratio of 14.4%.

The Commercial and Consumer Banking segment provides financial products and services to commercial and consumer customers. The Home Lending segment originates residential mortgage loans primarily for sale. Financial ratios showed a return on assets of 1.07% and a return on equity of 10.80%.

Non-GAAP financial measures including tangible book value per share and tangible common equity ratio were also provided. Tangible book value per share was $36.96 and the tangible common equity ratio was 9.26%. These measures exclude intangible assets for a clearer view of the Company’s financial health.



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