FS Bancorp Reports $33.3 Million Net Income for 2025, Increases Quarterly Dividend to $0.29
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Source: Globenewswire
- Net Income Growth: FS Bancorp reported a net income of $33.3 million for 2025, translating to $4.29 per diluted share, reflecting stable profitability despite a decrease from $35.0 million in 2024.
- Increased Shareholder Returns: The Board of Directors announced a quarterly cash dividend increase to $0.29 per share, marking the 52nd consecutive increase, which is expected to be paid on February 19, 2026, enhancing shareholder confidence.
- Improved Asset Quality: As of December 31, 2025, net loans reached $2.62 billion, a 4.8% increase from 2024, indicating robust performance in the lending market, although consumer loans saw a slight decline.
- Stable Capital Ratios: FS Bancorp maintained a total risk-based capital ratio of 14.0%, demonstrating a strong capital foundation under regulatory requirements, ensuring resilience against future market fluctuations.
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Analyst Views on FSBW
Wall Street analysts forecast FSBW stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FSBW is 41.00 USD with a low forecast of 41.00 USD and a high forecast of 41.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 39.620
Low
41.00
Averages
41.00
High
41.00
Current: 39.620
Low
41.00
Averages
41.00
High
41.00
About FSBW
FS Bancorp, Inc. is a bank holding company for 1st Security Bank of Washington (the Bank). The Bank provides loan and deposit services to customers who are predominantly small- and middle-market businesses and individuals in Washington and Oregon. The Bank’s segments include Commercial and Consumer Banking and Home Lending. The Commercial and Consumer Banking segment provides diversified financial products and services to its commercial and consumer customers through the Bank branches, online banking platforms, mobile banking apps, and telephone banking. These products and services include deposit products, residential, consumer, business and commercial real estate lending portfolios, and cash management services. The Home Lending segment originates one-to-four-family residential mortgage loans primarily for sale in the secondary markets, as well as loans held for investment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
FS Bancorp (FSBW) Declares 3.6% Dividend Increase to $0.29 per Share
- Dividend Increase: FS Bancorp has declared a quarterly dividend increase from $0.28 to $0.29 per share, reflecting a 3.6% growth that underscores the company's robust profitability and commitment to shareholder returns.
- Dividend Yield: The forward yield of 2.67% provides investors with a relatively attractive return, enhancing the company's appeal in the capital markets and potentially attracting more investment.
- Record Dates: The dividend will be payable on February 19, with a record date of February 6 and an ex-dividend date also set for February 6, ensuring shareholders receive their dividends promptly.
- Share Repurchase Program: FS Bancorp has authorized an additional $5 million share repurchase program aimed at enhancing earnings per share by reducing the number of shares outstanding, thereby increasing shareholder value.
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FS Bancorp Inc. Reports Q4 Profit Growth but Misses Estimates
- Profit Growth: FS Bancorp's Q4 earnings reached $8.42 million, or $1.10 per share, up from $7.38 million and $0.92 per share last year, indicating an improvement in profitability but falling short of analysts' expectations of $1.13 per share, highlighting challenges in sustaining earnings growth.
- Revenue Increase: The company's revenue rose 12% year-over-year to $40.01 million from $35.72 million last year, reflecting sales growth amid recovering market demand, yet this was insufficient to offset the earnings miss.
- Market Reaction: Despite the increase in revenue and profit, the failure to meet market expectations may lead to a decline in investor confidence regarding the company's future performance, potentially negatively impacting its stock price.
- Analyst Expectations: Analysts typically exclude special items in their estimates, and FS Bancorp's performance not meeting these expectations could affect its reputation among investors and future financing capabilities.
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