FS Bancorp, Inc. reported net income of $4.9 million, or $0.63 per diluted share, for the third quarter of 2026. This figure represents a decrease from the prior quarter's $7.9 million, or $1.04 per diluted share, and the comparable quarter one year ago, which was $9.2 million, or $1.18 per diluted share. For the nine months ended September 30, 2026, net income totaled $20.7 million, or $2.62 per diluted share, compared to $24.9 million, or $3.18 per diluted share, for the same period in 2025.
The company announced that its Board of Directors has approved a regular quarterly cash dividend of $0.29 per share of common stock. This payment marks the 55th consecutive quarterly dividend declared by the company. The dividend is payable on November 20, 2026, to stockholders of record as of the close of business on November 6, 2026.
The company also disclosed that it completed the acquisition of Pacific West Bancorp and its subsidiary, Pacific West Bank, on August 19, 2026. The transaction was accounted for using the acquisition method of accounting. FS Bancorp acquired assets with a fair value of $476.5 million and assumed liabilities of $439.5 million. As a result of the acquisition, total deposits increased by $418.3 million to $2.87 billion, and loans receivable increased by $379.1 million to $3.01 billion.
During the third quarter, the company repurchased 44,664 shares of its common stock for $1.9 million at an average price of $43.41 per share. Regulatory capital ratios at the Bank remained strong, with total risk-based capital at 12.6% and Tier 1 leverage capital at 11.2% as of September 30, 2026.
