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FS Bancorp, Inc.

FSBW

FS Bancorp, Inc. is a relationship-driven financial institution that provides a wide range of banking and lending services to individuals and businesses.

Market cap
$319.67M+2.2%
Net income$33.4M-0.2%
Free cash flow$101.5M+85.1%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 20, 2026 (in 2 months)
Revenue estimate$40.6M
EPS estimate$1.11

Financials

Q2 2026

Income statement

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Net income$7.9M+2.7%

Balance sheet

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Cash & equivalents$29.7M-10.5%
Total debt$331.3M+36.6%
Total equity$319.0M+7.3%
Total assets$3.2B+0.1%

Cash flow

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Operating cash flow$52.0M+628%
CapEx$574.0K-55.6%
Free cash flow$51.4M+778%

Valuation & ratios

Valuation

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Market cap$319.67M+2.2%
Enterprise value$621.21M+23.1%
P/E9.6×+0.7×

Returns & leverage

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Return on equity10.8%-0.7pp
Debt / equity+0.2×

Competitors

Profile

FS Bancorp, Inc. is a relationship-driven financial institution that provides a wide range of banking and lending services to individuals and businesses. The company operates through a community-focused banking franchise in the Pacific Northwest and a broad indirect consumer lending platform across the Western United States. Its core value proposition centers on diversifying revenue streams through residential mortgage banking, commercial lending, and specialized consumer finance.

Competitive position

A diversified regional lender with a strong niche in indirect home improvement financing and a significant presence in the Puget Sound residential mortgage market.

GeographiesWashington, Oregon, California, Colorado, Western United States
Customer segmentsRetail consumers, Small and medium enterprises, Construction firms
Business modelInterest spread, Fee-based servicing, Mortgage banking
SuppliersFederal Reserve monetary policy, Depositors, Wholesale funding markets, Contractor and dealer networks
CustomersHomebuyers, Small business owners, Secondary market investors, Government-sponsored enterprises
Listed2012
Employees570.0
CEOMatthew D. Mullet
Websitefsbwa.com
FilingsSEC EDGAR

FAQ

What is FS Bancorp, Inc.'s market cap?
FS Bancorp, Inc. (FSBW) has a market capitalization of $319.7M and trades on NASDAQ.
Who are FS Bancorp, Inc.'s competitors?
FS Bancorp, Inc.'s key competitors include Washington Federal, FB Bancorp, Inc. Common Stock, Sound Financial Bancorp, Inc., and others. These companies compete in similar markets and product categories.
Who does FS Bancorp, Inc. partner with?
FS Bancorp, Inc.'s notable partners include FNMA, FHLMC, GNMA, and others.
What subsidiaries does FS Bancorp, Inc. have?
FS Bancorp, Inc.'s subsidiaries include 1st Security Bank.
Where is FS Bancorp, Inc. headquartered?
FS Bancorp, Inc. is headquartered in United States of America and employs approximately 570 people. It has been publicly traded since 2012.