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FS Bancorp
FS Bancorp (FSBW) investor relations material
FS Bancorp Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary21 Jan, 2026
Executive summary
Net income for Q4 2025 was $8.4 million ($1.10 per diluted share), up from $7.4 million ($0.92 per share) year-over-year, but down from $9.2 million in the prior quarter.
Full-year 2025 net income was $33.3 million ($4.29 per diluted share), compared to $35.0 million ($4.36 per share) in 2024.
Quarterly dividend increased 3.6% to $0.29 per share, marking the 52nd consecutive quarterly dividend.
Book value per share rose to $41.55 and tangible book value per share to $39.65 at year-end 2025.
Financial highlights
Net interest income for Q4 2025 was $33.6 million, up from $31.1 million in Q4 2024; full-year net interest income was $130.4 million, up from $123.1 million in 2024.
Net interest margin (NIM) for Q4 2025 was 4.35%, up from 4.31% a year ago; full-year NIM was 4.33%, up from 4.30%.
Total deposits at year-end were $2.67 billion, up 14.3% year-over-year.
Loans receivable, net, increased 4.8% year-over-year to $2.62 billion.
Noninterest income for Q4 2025 was $6.4 million, up from $4.6 million in Q4 2024, driven by $1.0 million in BOLI death benefits.
Noninterest expense for Q4 2025 was $26.1 million, up from $24.4 million in Q4 2024, mainly due to higher salaries, benefits, and operations expense.
Outlook and guidance
Management remains focused on growing book value and tangible book value, centralizing headquarters by end of 2026, and maintaining strong capital and operating performance.
Detail commercial construction loan credit issues
Explain HQ centralization strategy and costs
Explain consumer loan decline vs. construction growth
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Next FS Bancorp earnings date
Q1 202624 Apr, 2026
FS Bancorp
Next FS Bancorp earnings date
Q1 202624 Apr, 2026
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Frequently asked questions
FS Bancorp, Inc. is the bank holding company for 1st Security Bank of Washington, which offers a range of banking and financial services. The company's operations are divided into two segments: Commercial and Consumer Banking, and Home Lending. The Commercial and Consumer Banking segment provides a variety of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit. It also offers various loan products such as residential mortgages, commercial real estate loans, consumer loans, and construction loans. The company is headquartered in Mountlake Terrace, Washington, and its shares are listed on the NASDAQ.
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