FS Bancorp Posts Q1 Earnings, Declares Quarterly Dividend

FS Bancorp ( (FSBW) ) has issued an update.

FS Bancorp, Inc., the parent of 1st Security Bank of Washington, provides a mix of commercial, consumer and real estate lending, deposit products, cash management services and home mortgage origination across its Commercial and Consumer Banking and Home Lending segments. The bank maintains a sizable loan portfolio in commercial real estate and consumer lending, and continues to build out its geographic reach, including projected expansion into the Portland, Oregon market.

On April 21, 2026, FS Bancorp reported first-quarter 2026 net income of $7.8 million, or $1.02 per diluted share, slightly below both the prior quarter and the year-ago period, though pre-tax income rose 4.6% year-over-year to $9.9 million. The board declared its 53rd consecutive quarterly cash dividend of $0.29 per share, supported by stable core deposits of $2.31 billion, 4.9% annual loan growth, a record split-adjusted book value per share of $42.42, stronger Home Lending production and solid regulatory capital ratios, while share repurchases underscored ongoing capital return to investors.

Management highlighted the announced February merger with Pacific West Bancorp and anticipated 2026 entry into the Portland, Oregon market as strategic growth drivers. Segment results showed $6.7 million in net income from Commercial and Consumer Banking and $1.1 million from Home Lending, with improved mortgage activity and disciplined deposit pricing contributing to earnings resilience despite a higher effective tax rate and softness in consumer loan balances.

The most recent analyst rating on (FSBW) stock is a Hold with a $46.00 price target. To see the full list of analyst forecasts on FS Bancorp stock, see the FSBW Stock Forecast page.

Spark’s Take on FSBW Stock

According to Spark, TipRanks’ AI Analyst, FSBW is a Neutral.

The score is held back primarily by 2025 fundamental weakness (sharp revenue decline and a major drop in operating/free cash flow) and bearish technicals (below key moving averages with negative MACD). Offsetting factors include attractive valuation (low P/E and solid dividend yield) and generally positive corporate developments (accretive M&A and a dividend increase).

To see Spark’s full report on FSBW stock, click here.

More about FS Bancorp

FS Bancorp, Inc., the holding company for 1st Security Bank of Washington, operates through Commercial and Consumer Banking and Home Lending segments. It offers deposit products, residential, consumer, business and commercial real estate lending, cash management services, and originates one-to-four-family residential mortgages, with a growing focus on markets including the Portland, Oregon area.

The Commercial and Consumer Banking segment manages the bank’s investment portfolio and other assets, while the Home Lending segment primarily sells mortgage loans into secondary markets. Together these operations support a loan book centered on commercial real estate and high-credit-quality consumer home improvement lending, underpinned by solid regulatory capital ratios.

Average Trading Volume: 11,261

Technical Sentiment Signal: Strong Buy

Current Market Cap: $313M

For detailed information about FSBW stock, go to TipRanks’ Stock Analysis page.