FS Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 04:30 pm EDT
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FS Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 31.55 million compared to USD 24.73 million a year ago. Net income was USD 9.12 million compared to USD 6.7 million a year ago. Basic earnings per share from continuing operations was USD 1.17 compared to USD 0.84 a year ago. Diluted earnings per share from continuing operations was USD 1.16 compared to USD 0.83 a year ago.
For the six months, net interest income was USD 62.21 million compared to USD 47.45 million a year ago. Net income was USD 17.33 million compared to USD 13.57 million a year ago. Basic earnings per share from continuing operations was USD 2.23 compared to USD 1.68 a year ago. Diluted earnings per share from continuing operations was USD 2.19 compared to USD 1.66 a year ago.
FS Bancorp, Inc. is the holding company for 1st Security Bank of Washington (the Bank). The Bank provides loan and deposit services to customers who are predominantly small- and middle-market businesses and individuals in Washington and Oregon. The Bank has two segments: commercial and consumer banking and home lending. The commercial and consumer banking segment provides diversified financial products and services to its commercial and consumer customers through the Bank branches, online banking platforms, mobile banking apps, and telephone banking. These products and services include deposit products, residential, consumer, business and commercial real estate lending portfolios, and cash management services. The home lending segment originates one-to-four-family residential mortgage loans primarily for sale in the secondary markets, as well as loans held for investment. A majority of these mortgage loans are sold to or securitized by FNMA, FHLMC, GNMA or the FHLB of Des Moines.