MOUNTLAKE TERRACE, Wash., Aug.  24, 2026  (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ:FSBW) (&#34;Company&#34;), the holding company for 1st Security Bank of Washington (&#34;Bank&#34;) announced that its Board of

FSBW

FS Bancorp, Inc. Authorizes Share Repurchase Program

FS Bancorp approves $5 million share repurchase plan over the next year

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>MOUNTLAKE TERRACE, Wash., Aug.  24, 2026  (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ:FSBW) (&amp;#34;Company&amp;#34;), the holding company for 1st Security Bank of Washington (&amp;#34;Bank&amp;#34;) announced that its Board of</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>FS Bancorp announced a board-approved buyback of up to $5 million over 12 months, starting after the public announcement. Repurchases may occur in open markets or private transactions, or via a 10b5-1 plan, at management’s discretion. The move signals capital discipline and could support EPS and share price if execution proceeds as planned.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FS Bancorp authorizes up to $5.0M buyback over 12 months.</li><li>Buybacks may occur in open market, private transactions, or 10b5-1 plan.</li><li>Commences after public announcement; ends August 24, 2027.</li><li>Plan discretionary; subject to market conditions, liquidity, and capital needs.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>FS Bancorp, Inc. (FSBW)</strong>: Board authorized a $5M share repurchase; potential uplift to stock value and per-share metrics.</li><li><strong>1st Security Bank of Washington (N/A)</strong>: Wholly-owned subsidiary; buyback signals capital flexibility within the bank group.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Corporate Developments: A board-approved share repurchase is a classic capital-allocation move impacting balance sheet, EPS, and potentially valuation.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Buyback size relative to FS Bancorp&#039;s market cap suggests limited but meaningful signal.</li><li>Announcement may trigger near-term price action and set a floor if executed.</li><li>Discretionary plan with no guaranteed share count; execution risk remains.</li><li>Regulatory and market conditions could delay or modify timing.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Up to $5.0 million buyback authorization.</li><li>12-month window through Aug 24, 2027.</li><li>Commencement no sooner than the second trading day after public announcement.</li><li>Open market, private transactions, or 10b5-1 trading plan permissible.</li><li>Plan may be suspended or modified; no guarantee of shares purchased.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Modest buyback likely to provide near-term EPS support and price lift over the next 12 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>MOUNTLAKE TERRACE, Wash., Aug.  24, 2026  (GLOBE NEWSWIRE) -- FS Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FSBW">FSBW</a>) ("Company"), the holding company for 1st Security Bank of Washington ("Bank") announced that its Board of Directors has authorized a share repurchase program of up to $5.0 million in shares of the Company’s outstanding common stock in the open market, in privately negotiated transactions from time to time over a 12-month period until August 24, 2027, at such prices as may be determined by the Company’s management. The repurchase program will commence no sooner than the second trading day after the public announcement of this repurchase program.</p>  <p>The repurchase program permits shares to be repurchased in open market or private transactions or pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission ("SEC").</p>  <p>Repurchases will be made at management&#39;s discretion at prices management considers to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company&#39;s financial performance. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the SEC and other applicable legal requirements.</p>  <p>The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any particular number of shares.</p>  <p><strong>About FS Bancorp</strong></p>  <p>FS Bancorp, Inc., a Washington corporation, is the holding company for 1st Security Bank of Washington. The Bank offers a range of loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon. It operates through 33 bank branches, one headquarters office that provides loans and deposit services, and loan production offices in various suburban communities in the greater Puget Sound area, the Kennewick-Pasco-Richland metropolitan area of Washington, also known as the Tri-Cities, the greater Portland metropolitan area and in Vancouver, Washington. Additionally, the Bank services home mortgage customers across the Northwest, focusing on markets in Washington State including the Puget Sound, Tri-Cities, and Vancouver. Following the acquisition of Pacific West Bank, the Bank expanded its presence in the greater Portland market through locations in West Linn, Lake Oswego, Portland, and Vancouver.</p>  <p>For more information visit 1st Security Bank’s website at www.fsbwa.com.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p>When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the "SEC"), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases "believe," "will," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "plans," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management&#39;s current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements, include but are not limited to, the following: adverse impacts to economic conditions in the Company’s local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels; labor shortages, the effects of inflation, recessionary pressures or slowing economic growth; changes in interest rates and the duration of such changes, including actions by the Federal Reserve, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and monetary and fiscal policy responses thereto and their impact on consumer and business behavior; geopolitical developments and international conflicts including but not limited to tensions or instability in Eastern Europe, the Middle East, and Asia, or the imposition of new or increased tariffs and trade restrictions, which may disrupt financial markets, global supply chains, energy prices, or economic activity in specific industry sectors; the effects of a federal government shutdown, debt ceiling standoff, or other fiscal policy uncertainty; increased competitive pressures, including repricing and competitors&#39; pricing initiatives, and their impact on our market position, loan, and deposit products; adverse changes in the securities markets, the Company’s ability to execute its plans to grow its residential construction lending, mortgage banking, and warehouse lending operations, and the geographic expansion of its indirect home improvement lending; challenges arising from expanding into new geographic markets, products, or services; secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market; volatility in the mortgage industry; fluctuations in deposits; liquidity issues, including our ability to borrow funds or raise additional capital, if necessary; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the ability to adapt to rapid technological changes, including advancements in artificial intelligence, digital banking, and cybersecurity; legislation or regulatory changes, including but not limited to shifts in capital requirements, banking regulation, tax laws, or consumer protection laws; vulnerabilities  in information systems or third-party service providers, including disruptions, breaches, or attacks; environmental, social and governance goals; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events on our business; and other factors described in the Company’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed with or furnished to the SEC which are available on its website at <a href="https://www.globenewswire.com/Tracker?data=UASftX4JRdFWs003bSv1xDZOXMBr9yvRagt3443AdqxqP3i-v3vphwvoxD3TDQkwinR_5YfbM3P3ikKuy2M_Lg==" rel="nofollow" target="_blank">www.fsbwa.com</a><br></br>and on the SEC&#39;s website at <a href="https://www.globenewswire.com/Tracker?data=2BkIkWQUfHrr3PAAXsPSiO062-fConbacHc8FsnTwhju-kznqs2IyUoO_FlvaPgnbIwcTsbIdw7aJ5_f2QjOCQ==" rel="nofollow" target="_blank">www.sec.gov</a>.</p>  <p>Any of the forward-looking statements that the Company makes in this press release and in the other public statements are based upon management&#39;s beliefs and assumptions at the time they are made and may turn out to be incorrect because of the inaccurate assumptions the Company might make, because of the factors illustrated above or because of other factors that cannot be foreseen by the Company. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. </p>  <p><strong>Contacts:</strong><br></br>Matthew D. Mullet,<br></br>President and Chief Executive Officer<br></br>Phillip D. Whittington,<br></br>Chief Financial Officer</p>  <p>(425) 771-5299<br></br><strong>www.FSBWA.com</strong></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxNTA5MiM3ODAwNTQxIzIwMTkwOTU="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZTg3OTI4MGYtNDUwNS00M2M3LWFkMjYtOTIzY2M4YzAxNzljLTEwMzA2NjgtMjAyNi0wOC0yNC1lbg==/tiny/FS-Bancorp-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/16e3476e-9995-4216-9cc5-e21b9cbded0c"><img src="https://ml.globenewswire.com/media/16e3476e-9995-4216-9cc5-e21b9cbded0c/small/logo1-jpg.jpg" border="0" width="150" height="17" alt="Primary Logo"></img></a></p>

FS Bancorp announced a board-approved buyback of up to $5 million over 12 months, starting after the public announcement. Repurchases may occur in open markets or private transactions, or via a 10b5-1 plan, at management’s discretion. The move signals capital discipline and could support EPS and share price if execution proceeds as planned.

News insight

FS Bancorp, Inc. Authorizes Share Repurchase Program

AI summary

Sentiment rationale

Key facts

Corporate Developments