Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when FSBW files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsFS Bancorp reports Q2 2026 net income of $7.9M ($1.04/share), declares 54th dividend
Filed July 21, 2026 · Period ending July 21, 2026 · ~1 min read
Key Changes
-
high
Q2 2026 net income $7.9M ($1.04/share), up from $7.8M ($1.02/share) in Q1 2026 and $7.7M ($0.99/share) in Q2 2025; six-month net income $15.8M ($2.07/share) vs. $15.7M ($1.99/share) prior year.
Exhibit 99.1 view on EDGAR → -
high
Board declared 54th consecutive quarterly dividend of $0.29/share, payable August 21, 2026 to shareholders of record August 7, 2026.
Item 8.01 verify on EDGAR → -
high
Net charge-offs rose $1.6M year-over-year to $3.8M in Q2 2026, driven by additional charge-off on a previously impaired commercial construction loan (reflecting updated appraisals and CRE market pressure) and higher indirect home improvement portfolio charge-offs.
Exhibit 99.1 view on EDGAR → -
medium
Total deposits fell $188.7M (7.2%) to $2.45B, as company shifted $201.1M from brokered deposits to borrowings, lowering deposit cost from 2.24% to 2.18% while maintaining liquidity.
Exhibit 99.1 view on EDGAR → -
medium
Net loans grew $4.9M quarter-over-quarter to $2.63B and $46.7M year-over-year, driven by $88.9M increase in commercial real estate loans, partially offset by $33.1M decline in consumer loans due to elevated payoffs.
Exhibit 99.1 view on EDGAR →
Summary
FS Bancorp reported second quarter 2026 net income of $7.9 million, or $1.04 per diluted share, up modestly from both the prior quarter and the year-ago period. The company's Board declared its 54th consecutive quarterly dividend of $0.29 per share, payable August 21, 2026, underscoring consistent capital return to shareholders.
Net charge-offs rose to $3.8 million in the quarter, driven by an additional charge-off on a previously impaired commercial construction loan (reflecting updated appraisals and commercial real estate market pressure) and higher charge-offs in the indirect home improvement portfolio.
Nonperforming loans declined year-over-year to 0.59% of gross loans from 0.73%, indicating improving asset quality despite the elevated charge-offs. The company executed a strategic funding shift, reducing brokered deposits by $201.1 million and replacing them with borrowings, which lowered the cost of deposits from 2.24% to 2.18% while maintaining liquidity. Net loans grew $46.7 million year-over-year to $2.63 billion, driven by commercial real estate originations, though consumer loan payoffs remained elevated. For retail holders, the stable earnings, uninterrupted dividend streak, and controlled funding costs are positives, while the elevated charge-offs and commercial real estate exposure warrant attention as the company navigates CRE market headwinds.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company announced its Board of Directors declared a regular quarterly cash dividend on Company common stock of $0.29 per share, payable on August 21, 2026, to stockholders of record as of the close of business on August 7, 2026.
FS Bancorp's Board declared a regular quarterly cash dividend of $0.29 per share. The dividend will be paid on August 21, 2026 to shareholders of record as of August 7, 2026. This represents the company's ongoing capital return to shareholders through regular quarterly distributions.
Event · Item 2.02 — Results of Operations and Financial Condition
FS Bancorp announced Q2 2026 earnings results via press release.
Added in current filing · verify on EDGAR →
On July 21, 2026, FS Bancorp, Inc. (the Company), the parent corporation of 1st Security Bank of Washington, issued its earnings release for the quarter ended June 30, 2026.
The company disclosed its financial results for the second quarter of 2026 through a press release. The 8-K itself does not contain specific financial figures; those details are in the attached Exhibit 99.1 press release.
Event · Exhibit 99.1
FS Bancorp reports Q2 2026 net income of $7.9M ($1.04/share), declares 54th consecutive quarterly dividend of $0.29/share, and continues Pacific West merger integration.
Added in current filing · view on EDGAR →
our Board of Directors has approved our 54th consecutive quarterly cash dividend of $0.29 per common share, demonstrating our commitment to returning capital to long-term shareholders. The cash dividend will be paid on August 21, 2026, to shareholders of record as of August 7, 2026
The Board declared a quarterly cash dividend of $0.29 per common share, payable August 21, 2026, to shareholders of record as of August 7, 2026. This marks the 54th consecutive quarterly dividend, underscoring the company's consistent capital return policy and financial stability.
Added in current filing · view on EDGAR →
Total deposits decreased $188.7 million, or 7.2%, to $2.45 billion at June 30, 2026, compared to $2.63 billion at March 31, 2026. This decrease was primarily due to a $201.1 million decrease in brokered deposits, with an offsetting increase of $12.1 million in retail deposits. ... The cost of deposits decreased to 2.18% for the quarter ended June 30, 2026, from 2.24% for the quarter ended March 31, 2026, primarily due to the Company's funding strategy of shifting from higher cost brokered deposits to borrowings, while maintaining sufficient liquidity
Total deposits fell $188.7 million (7.2%) quarter-over-quarter to $2.45 billion, driven by a $201.1 million reduction in brokered deposits, partially offset by a $12.1 million increase in retail deposits. The company shifted from higher-cost brokered deposits to borrowings, lowering the cost of deposits from 2.24% to 2.18%. This strategic funding mix change improved funding costs while maintaining liquidity.
Added in current filing · view on EDGAR → · paraphrased
net charge-offs increased $1.6 million to $3.8 million for the three months ended June 30, 2026, compared to $1.2 million for the three months ended June 30, 2025. The increase was primarily attributable to an additional charge-off on a commercial construction loan relationship that was previously partially charged off in 2024, as well as higher net charge-offs within the indirect home improvement portfolio. The additional charge-off reflects leasing uncertainty and updated appraised values for the underlying property, as well as continued pressure on commercial real estate values in the surrounding market.
Net charge-offs rose $1.6 million year-over-year to $3.8 million in Q2 2026, driven by an additional charge-off on a previously impaired commercial construction loan (reflecting updated appraisals and CRE market pressure) and higher charge-offs in the indirect home improvement portfolio. Nonperforming loans declined to $15.6 million (0.59% of gross loans) from $19.0 million (0.73%) a year earlier, indicating improving asset quality despite the elevated charge-offs.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 22, 2026 · How we verify