Revenue: As of FY2026 Q2, the actual value is USD 38.8 M.

EPS: As of FY2026 Q2, the actual value is USD 1.04, missing the estimate of USD 1.0467.

EBIT: As of FY2026 Q2, the actual value is USD 10.96 M.

Outlook / Guidance

Management expects final resolution of a commercial construction loan relationship during the second half of 2026.

Net Income

• Total Net Income: [FS Bancorp, Inc.] reported $7.9 million for the second quarter of 2026, compared to $7.8 million for the prior quarter and $7.7 million for the comparable quarter one year ago. For the six months ended June 30, 2026, net income was $15.8 million, compared to $15.7 million for the comparable six-month period in 2025.
• Commercial and Consumer Banking Segment Net Income: This segment reported $6.8 million for the second quarter of 2026, compared to $6.7 million for the prior quarter and $7.4 million for the second quarter of 2025. For the six months ended June 30, 2026, net income was $13.539 million, compared to $15.155 million for the six months ended June 30, 2025.
• Home Lending Segment Net Income: This segment’s net income was $1.1 million for both the first and second quarters of 2026, compared to $352,000 for the second quarter of 2025. For the six months ended June 30, 2026, net income was $2.227 million, compared to $594,000 for the six months ended June 30, 2025.

Dividends

The Board of Directors of [FS Bancorp, Inc.] declared a regular quarterly cash dividend of $0.29 per share on the Company’s common stock. This dividend is payable on August 21, 2026, to stockholders of record as of August 7, 2026. Cash dividends paid totaled $2.2 million.

Total Deposits

Total deposits decreased $188.7 million, or 7.2%, to $2.448 billion at June 30, 2026, compared to $2.637 billion at March 31, 2026. This decrease was primarily due to a $201.1 million decrease in brokered deposits, with an offsetting $12.1 million increase in retail deposits. Compared to June 30, 2025, total deposits decreased $104.5 million, or 4.1%. The cost of deposits decreased to 2.18% for the quarter ended June 30, 2026, from 2.24% for the quarter ended March 31, 2026.

Loans Receivable, Net

Loans receivable, net increased $4.9 million to $2.628 billion at June 30, 2026, compared to $2.624 billion at March 31, 2026. Loans receivable, net increased $46.7 million from $2.582 billion at June 30, 2025. The year-over-year loan growth was primarily due to an $88.9 million increase in the commercial real estate portfolio, partially offset by a $33.1 million decrease in the consumer loan portfolio.

Consumer Loans

Consumer loans were $573.2 million at June 30, 2026, a decrease of $10.3 million, or 1.8%, from $583.5 million in the previous quarter. This also represents a decrease of $33.1 million, or 5.5%, from $606.3 million in the comparable quarter one year ago. During the three months ended June 30, 2026, 87.3% of indirect home improvement loans originated had a FICO score above 720.

Share Repurchases

[FS Bancorp, Inc.] repurchased 87,000 shares of its common stock for $3.6 million in the second quarter of 2026, at an average price of $41.81 per share.

Book Value and Tangible Book Value per Share

Book value per share increased $1.15, or 2.7%, to $43.57 at June 30, 2026, compared to $42.42 at March 31, 2026. Book value per share increased $4.02, or 10.2%, from $39.55 at June 30, 2025. Tangible book value per share (non-GAAP) increased $1.23 to $41.84 at June 30, 2026, compared to $40.61 at March 31, 2026, and increased $4.38 from $37.46 at June 30, 2025.

Regulatory Capital Ratios

Regulatory capital ratios at the Bank at June 30, 2026, were 14.0% for total risk-based capital and 11.4% for Tier 1 leverage capital, compared to 13.8% and 11.2% respectively, at March 31, 2026. The Bank remained well capitalized under applicable regulatory capital standards.

Net Interest Income

Net interest income increased $536,000 to $32.6 million for the three months ended June 30, 2026, from $32.1 million for the three months ended June 30, 2025. For the six months ended June 30, 2026, net interest income increased $2.1 million to $65.2 million from $63.1 million for the six months ended June 30, 2025.

Provision for Credit Losses

The provision for credit losses on loans was $2.6 million for the three months ended June 30, 2026, compared to $2.0 million for the three months ended June 30, 2025. For the six months ended June 30, 2026, the provision was $5.2 million, compared to $3.6 million for the six months ended June 30, 2025. The year-to-date provision reflects a $3.1 million increase in net charge-off activity, primarily due to a $2.3 million partial charge-off on a single commercial construction loan and increased charge-offs in the consumer loan portfolio.

Noninterest Income

Total noninterest income increased $980,000 to $6.2 million for the three months ended June 30, 2026, from $5.2 million for the three months ended June 30, 2025. This increase primarily reflected higher gain on sale of loans of $609,000 and a $404,000 increase in other noninterest income, partially offset by a $42,000 decrease in service charges and fee income. For the six months ended June 30, 2026, total noninterest income increased $1.3 million to $11.6 million from $10.3 million for the six months ended June 30, 2025.

Noninterest Expense

Total noninterest expense increased $602,000 to $26.1 million for the three months ended June 30, 2026, compared to $25.5 million for the three months ended June 30, 2025. This increase was primarily attributable to a $1.5 million increase in salaries and benefits expense and $417,000 of acquisition-related costs, partially offset by a $1.1 million reduction in operations expense. For the six months ended June 30, 2026, total noninterest expense increased $1.1 million to $51.6 million from $50.6 million for the six months ended June 30, 2025.

Net Interest Margin (NIM)

NIM (annualized) was unchanged at 4.30% for the three months ended June 30, 2026, compared to the same period in the prior year. NIM decreased one basis point from 4.31% to 4.30% for the six months ended June 30, 2026, compared to the same period in 2025.

Average Total Cost of Funds

The average total cost of funds, including noninterest-bearing checking, increased two basis points to 2.41% for the three months ended June 30, 2026, from 2.39% for the three months ended June 30, 2025. The average cost of funds increased two basis points to 2.40% for the six months ended June 30, 2026, from 2.38% for the six months ended June 30, 2025.

Net Charge-offs

Total net charge-offs increased $2.7 million to $3.8 million during the three months ended June 30, 2026, compared to $1.2 million for the three months ended June 30, 2025. During the six months ended June 30, 2026, net charge-offs increased $3.1 million to $6.0 million, compared to $2.9 million for the six months ended June 30, 2025.

Nonperforming Loans

Nonperforming loans decreased by $2.621 million quarter-over-quarter and $3.349 million year-over-year to $15.647 million at June 30, 2026. The decrease in nonperforming loans compared to June 30, 2025, was primarily due to a $2.3 million charge-off on a commercial construction loan and a single payoff within the commercial real estate portfolio.

Total Assets

Total assets were $3.179 billion at June 30, 2026, a decrease of $24.435 million, or 1%, from $3.203 billion at March 31, 2026. Total assets increased $3.067 million, or 0%, from $3.176 billion at June 30, 2025.

Total Liabilities

Total liabilities were $2.860 billion at June 30, 2026, a decrease of $29.543 million, or 1%, from $2.889 billion at March 31, 2026. Total liabilities decreased $18.690 million, or 1%, from $2.878 billion at June 30, 2025.