Fs Bancorp, Inc. ( (FSBW) ) has released its Q2 earnings. Here is a breakdown of the information Fs Bancorp, Inc. presented to its investors.
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FS Bancorp, Inc., the holding company for 1st Security Bank of Washington, operates in the financial services sector, offering a range of loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon. In its latest earnings report, FS Bancorp announced a second-quarter net income of $7.7 million, or $0.99 per diluted share, alongside the declaration of its 50th consecutive quarterly cash dividend and a special dividend. The company reported a decrease in net income compared to the previous year, attributed to increased noninterest expenses and a higher provision for credit losses. Despite a decrease in total deposits, FS Bancorp experienced growth in loans receivable and borrowings, reflecting strong loan demand. Looking ahead, FS Bancorp remains focused on delivering long-term value to shareholders through strategic initiatives and disciplined financial management, despite facing challenges in the broader economic environment.