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Jun 1, 2026·SEC
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May 27, 2026·SEC
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May 4, 2026·SEC
FS Bancorp, Inc.(FSBW)Earnings, Financials & Key Ratios
FSBW•NASDAQ•Banking & Credit
$42.70
10.0× P/E·Price updated Jun 25, 2026
AboutFS Bancorp, Inc. operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposit. The company provides one-to-four-family residential first mortgages, second mortgage/home equity loan products, non-mortgage commercial business loans, commercial real estate loans, and construction and development loans, as well as consumer loans, which primarily include personal lines of credit, credit cards, automobile, direct home improvement, loans on deposit, and recreational loans. As of December 31, 2021, it operated 21 full bank service branches and 10 home loan production offices in suburban communities in the greater Puget Sound area, including Snohomish, King, Pierce, Jefferson, Kitsap, Clallam, Grays Harbor, Thurston, and Lewis counties; and one loan production office in the market area of the Tri-Cities. The company was founded in 1936 and is headquartered in Mountlake Terrace, Washington.Show more
- Net Interest Income$130M+5.9%
- Total Revenue$218M+6.8%
- Net Income$33M-4.8%
- Return on Equity11.05%-11.6%
- Net Interest Margin4.08%+0.4%
- Efficiency Ratio45.98%-1.3%
- ROA1.07%-8.2%
- Equity / Assets9.62%-1.4%
- Book Value per Share40.20+7.3%
FSBW Price & Volume
FS Bancorp, Inc. (FSBW) stock price & volume — 10-year historical chart
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Stagnant Margin Growth Masks Mortgage Revenue Volatility
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial Position:Healthy
Cash Flow:Mixed
Primary Risk:Mortgage revenue volatility
"FS Bancorp faces a challenging outlook characterized by range-bound net interest income, which has only grown from $30.5 million in 2023Q4 to $32.5 million in 2026Q1. The bank's heavy reliance on a $3.0 billion securities portfolio and cyclical mortgage gain-on-sale income creates significant earnings sensitivity to interest rate fluctuations. While the 0.10 equity-to-assets ratio provides a stable capital buffer, investors should monitor the recent spike in loan loss provisions to $2.5 million in 2026Q1 as a potential indicator of deteriorating credit quality."
Verdict Logic
while the 3.1% dividend yield offers income potential, the stagnant net interest income growth and the recent increase in loan loss provisions to $2.5 million suggest limited near-term upside.
FSBW Growth Metrics
FS Bancorp, Inc. (FSBW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years16.37%
5 Years8.88%
3 Years17.5%
TTM-
Profit CAGR
10 Years14.15%
5 Years-3.21%
3 Years3.99%
TTM-4.31%
EPS CAGR
10 Years11.28%
5 Years-0.95%
3 Years4.97%
TTM-1.38%
Return on Capital
10 Years10.37%
5 Years8.97%
3 Years8.22%
Last Year7.9%
FSBW Recent Earnings
FS Bancorp, Inc. (FSBW) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (80%)●Beat Revenue 8/12 qtrs (80%)
Q2 2026Latest
Apr 21, 2026Metric
Actual
Est
EPS
$1.02+1.0%
$1.01
Rev
$38M+0.7%
$38M
Q2 2026
Mar 13, 2026Metric
Actual
Est
EPS
$1.12-0.9%
$1.13
Rev
$57M+49.7%
$38M
Q1 2026
Jan 21, 2026Metric
Actual
Est
EPS
$1.10-2.7%
$1.13
Rev
$40M+4.7%
$38M
Q4 2025
Oct 21, 2025Metric
Actual
Est
EPS
$1.18+9.3%
$1.08
Rev
$39M+1.7%
$38M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $1.02vs $1.01+1.0% | $38Mvs $38M+0.7% |
| Q2 2026 | Mar 13, 2026 | $1.12vs $1.13-0.9% | $57Mvs $38M+49.7% |
| Q1 2026 | Jan 21, 2026 | $1.10vs $1.13-2.7% | $40Mvs $38M+4.7% |
| Q4 2025 | Oct 21, 2025 | $1.18vs $1.08+9.3% | $39Mvs $38M+1.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for FS Bancorp, Inc. (FSBW)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $42.70 | $316.6M | 9.98 | 6.78% | 15.33% | 11.05% | 3.14% | |
| $38.01 | $2.81B | 14.45 | -1.58% | 18.26% | 8.36% | — | |
| $29.29 | $995.78M | 14.94 | 5.92% | 20.5% | 7.58% | — | |
| $32.07 | $7.63B | 13.94 | 8.35% | 19.56% | 9.16% | — | |
| $15.09 | $2.21B | 16.40 | 16.3% | 14.75% | 7.3% | — | |
| $65.14 | $652.11M | 11.08 | 22.26% | 20.68% | 11.5% | — |
Compare FSBW vs Peers
FS Bancorp, Inc. (FSBW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
FSBW SEC Filings & Documents
FS Bancorp, Inc. (FSBW) SEC filings — annual & quarterly reports (10-K, 10-Q)
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FSBW Frequently Asked Questions
FS Bancorp, Inc. (FSBW) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is FS Bancorp, Inc. growing?
FS Bancorp, Inc. (FSBW) grew revenue by 6.8% over the past year. This is steady growth.
Is FSBW profitable?
Yes, FS Bancorp, Inc. (FSBW) is profitable, generating $33.2M in net income for fiscal year 2025 (15.3% net margin).
Dividend & Returns
Does FSBW pay dividends?
Yes, FS Bancorp, Inc. (FSBW) pays a dividend with a yield of 3.14%. This makes it attractive for income-focused investors.
What is FSBW's return on equity?
FS Bancorp, Inc. (FSBW) has a return on equity (ROE) of 11.1%. This is reasonable for most industries.
Industry Metrics
What is FS Bancorp, Inc.'s net interest margin?
FS Bancorp, Inc. (FSBW) has a net interest margin (NIM) of 4.1%. This indicates healthy earnings from lending activities.
What is FS Bancorp, Inc.'s efficiency ratio?
FS Bancorp, Inc. (FSBW) has an efficiency ratio of 46.0%. This is excellent, indicating strong cost control.