FS Bancorp (FSBW) Conference presentation summary

Franchise overview and growth

• Total assets reached $3.18 billion as of June 30, 2026, with 32 branches and 16 loan production offices across Washington and Oregon.

• Asset growth driven by acquisitions, including Anchor Bancorp (2018), Columbia Bank branches (2023), and Pacific West Bancorp merger (2026).

• Tangible book value per share increased to $41.84, with 54 consecutive quarterly dividends of $0.29 per share.

• Net loans totaled $2.66 billion and deposits $2.52 billion at Q2 2026.

• Focus on expanding commercial business lending and maintaining strong asset quality.

Financial performance and capital

• Q2 2026 net income was $7.9 million, with diluted EPS of $1.04 and ROAA of 1.00%.

• Net interest margin stood at 4.30%, and efficiency ratio at 67.28%.

• Nonperforming assets were 0.49% of total assets, with allowance for credit losses at 1.17% of gross loans.

• Regular dividend payout ratio was 27.9% in Q2 2026.

• Repurchased 87,000 shares at an average price of $41.81.

Loan and deposit portfolio

• Gross loans reached $2.7 billion, with 25% in 1-4 family, 22% in consumer, and 16% in construction and development.

• Average loan yield was 6.91% in Q2 2026.

• Deposit portfolio was $2.4 billion, with 35% in checking, 38% in CDs, and 22% in money market and savings.

• Cost of deposits was 2.18% in Q2 2026.

• Noninterest-bearing demand deposits made up 25% of total deposits.