- FS Bancorp (FSBW, Financial) reported Q1 2025 net income of $8.0 million or $1.01 per diluted share.
- Announced a 49th consecutive quarterly cash dividend of $0.28 per share, payable on May 22, 2025.
- Total deposits increased by 11.8% to $2.62 billion, driven by $226.9 million growth in brokered deposits.
FS Bancorp, Inc. (FSBW) has announced its financial results for the first quarter of 2025, with a net income of $8.0 million or $1.01 per diluted share. This compares to $8.4 million, or $1.06 per diluted share, in Q1 2024. The bank maintains a strong commitment to shareholder returns, declaring its 49th consecutive quarterly cash dividend of $0.28 per share, which is scheduled for payment on May 22, 2025.
The financial institution reported an impressive growth in total deposits, which surged by 11.8% to $2.62 billion. A significant portion of this increase, amounting to $226.9 million, was attributed to brokered deposits.
The stability in FS Bancorp's (FSBW, Financial) loan receivables was evident, remaining steady at $2.50 billion, marking a 3.5% increase compared to the previous year. However, consumer loans showed a decline of 1.8% to $608.9 million, with home improvement loans comprising 87.4% of this portfolio.
Additionally, the company has been proactive in managing its equity, repurchasing 98,317 shares at an average price of $39.06 per share. Furthermore, FS Bancorp authorized an additional $5.0 million for future share repurchases, underscoring its strategic initiatives to optimize shareholder value.
FS Bancorp's book value per share experienced a healthy rise to $39.12, reflecting robust capital accretion over the past year.
Also check out: (Free Trial)
