Fs Bancorp, Inc. ( (FSBW) ) has released its Q4 earnings. Here is a breakdown of the information Fs Bancorp, Inc. presented to its investors.
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FS Bancorp, Inc. is a holding company for 1st Security Bank of Washington, providing financial products and services to commercial and consumer customers in Washington and Oregon through a network of branches and loan production offices. The company has a diverse lending portfolio, including residential mortgages and commercial real estate loans.
In its latest earnings report, FS Bancorp, Inc. announced a net income of $7.4 million for the fourth quarter of 2024, which translates to $0.92 per diluted share. This represents a decrease from the previous year’s figures, primarily due to a significant tax provision recorded during the quarter. Despite this, the company experienced a 3.7% increase in its quarterly dividend, reflecting its commitment to returning value to shareholders.
Key financial highlights include a net interest margin of 4.31% and a decrease in total deposits by 3.6% to $2.34 billion. The company saw a growth in loans receivable, net, which increased by $38.3 million to $2.50 billion. However, consumer loans, particularly home improvement loans, showed a decline. FS Bancorp also increased its borrowings significantly by $144.0 million compared to the previous quarter.
The tangible book value per share increased by 13.8% year over year, showcasing the company’s focus on risk-adjusted returns. The regulatory capital ratios remained robust, indicating a well-capitalized position under the FDIC requirements. The company also repurchased shares, with $4.7 million remaining for future buybacks under the existing plan.
Looking forward, FS Bancorp remains focused on growth through organic loan expansion and strategic market positioning. Management continues to navigate economic volatility with a focus on maintaining a strong capital base and delivering shareholder value through dividends and share repurchases.
