Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On April 11, 2023, FS Bancorp, Inc. (the "Company") and its wholly-owned
subsidiary, 1st Security Bank of Washington (the "Bank"), announced that Dennis
O'Leary, Chief Lending Officer, will step down from his current position at the
Bank and transition into a management role that oversees the Commercial Real
Estate and Construction Lending team, effective July 1, 2023.
(c) On April 11, 2023, in connection with Mr. O'Leary's transitition, the Bank
announced that it will appoint Ben Crowl, age 38, as Chief Lending Officer of
the Bank, as successor to Mr. O'Leary. Mr. O'Leary will continue to work with
Mr. Crowl and mentor him through this transition. Mr. Crowl has served as the
Bank's Senior Vice President, Director of Consumer Lending, since October 1,
2020. Mr. Crowl joined the Bank as Senior Vice President, Commercial Lending
Relationship Manager on March 19, 2018. On April 1, 2019 he was promoted to
Senior Vice President and Commercial Lending Team Lead. Prior to joining 1st
Security Bank, Mr. Crowl was with First Sound Bank, Seattle, Washington
(2011-2018), and Union Bank (formerly Frontier Bank), Seattle, Washington
(2006-2011), serving in positions of increasing responsibility.
There are no family relationships between Mr. Crowl and any director or other
executive officer of the Company or the Bank and Mr. Crowl was not appointed as
an executive officer pursuant to any arrangement or understanding with any
person. Mr. Crowl has not engaged in any transaction with the Company or the
Bank that would be reportable as a related party transaction under the rules of
the Securities and Exchange Commission.
A copy of the press release announcing the tranisition of Mr. O'Leary and the
appointment of Mr. Crowl as Chief Lending Officer of the Bank is attached hereto
as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release of FS Bancorp, Inc. dated April 11, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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