FS Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:38 pm EDT
Share
FS Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 30.63 million compared to USD 27.53 million a year ago. Net income was USD 8.95 million compared to USD 8.46 million a year ago. Basic earnings per share from continuing operations was USD 1.15 compared to USD 1.09 a year ago. Diluted earnings per share from continuing operations was USD 1.13 compared to USD 1.08 a year ago.
For the nine months, net interest income was USD 92.85 million compared to USD 74.98 million a year ago. Net income was USD 26.28 million compared to USD 22.03 million a year ago. Basic earnings per share from continuing operations was USD 3.38 compared to USD 2.77 a year ago. Diluted earnings per share from continuing operations was USD 3.33 compared to USD 2.73 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.