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1st Security Bank Announces the Promotion of May-Ling Sowell, effective July 1, 2025

1. May-Ling Sowell promoted to Chief Compliance Officer at 1st Security Bank. 2. She has over 30 years of banking experience and regulatory compliance expertise. 3. Sowell leads the bank's compliance system and internal training efforts. 4. Forward-looking statements hint at future operational expectations. 5. 1st Security Bank operates 27 branches across Washington and Oregon.

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Why Bullish?

Promotion of a seasoned professional in a critical role suggests strong internal stability, which could positively influence investor confidence. Historical trends indicate similar promotions often lead to increased operational efficiency and market perception.

How important is it?

Leadership changes in financial institutions are critically watched by investors, and given Sowell's extensive background, this development is likely to resonate positively with stakeholders.

Why Short Term?

The immediate impact from leadership changes can catalyze short-term investor sentiment. However, longer-term effects will depend on performance outcomes driven by the new compliance initiatives.

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MOUNTLAKE TERRACE, Wash., July 21, 2025 (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ: FSBW), the holding company for 1st Security Bank of Washington (“1st Security” or “Bank”) announced the promotion of May-Ling Sowell to the position of Chief Compliance Officer, SVP. May-Ling became 1st Security Bank’s Compliance Officer in November 2006 after previously working for the Bank as a private consultant. Her career in banking spans over three decades and in 2012 she obtained her Certified Regulatory Compliance Manager designation. Prior to joining the Bank, she held similar positions with several local community banks and spent two years operating her own consulting business. In her new role, May-Ling is responsible for and leads a team of employees who support the Bank’s regulatory compliance system, security, and internal compliance training. When not at her desk, you’ll find May-Ling reading a mystery novel or camping with her family. She also enjoys spending lots of time with her grandchildren. About 1st Security Bank of Washington 1st Security Bank, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty-seven branches across Washington and Oregon, with mortgage services at each branch as well as lending offices in the Pacific Northwest. For more information visit 1st Security Bank’s website at www.fsbwa.com. Note Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate", "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that 1st Security expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to review the Securities and Exchange Commission reports of FS Bancorp, particularly its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management. MEDIA CONTACT Camberly GilmartinAVP, Marketing Manager, 1st Security Bankcamberly.gilmartin@fsbwa.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a10de675-7beb-4756-a99d-b326f5c9398a

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