FS Bancorp, Inc.

FS Bancorp, Inc. reported net income of $33.3 million for fiscal year 2025, a decrease from $35.0 million in 2024. The decline was driven by a $4.4 million increase in noninterest expense, a $4.0 million increase in provision for credit losses, and a $1.2 million increase in provision for income taxes, partially offset by a $7.3 million increase in net interest income. Net interest income rose to $130.4 million, supported by loan growth and higher yields, while the net interest margin improved slightly to 4.33%. Total assets grew to $3.20 billion, primarily from increases in loans receivable and securities. The company maintained a strong capital position, with total stockholders' equity of $307.7 million and regulatory capital ratios exceeding requirements. Asset quality showed some pressure, with nonperforming loans increasing to $18.7 million (0.71% of total loans) from $13.6 million (0.54%) in 2024.

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