FS Bancorp, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 9, 2026, reporting third-quarter net income of $4,926 thousand and total assets of $3,676,651 thousand.

Key Highlights

  • Net income: $4,926 thousand for the three months ended September 30, 2026, compared with $9,177 thousand in the same quarter of 2025, according to the filing.
  • Total assets: $3,676,651 thousand at September 30, 2026, up from $3,196,847 thousand at December 31, 2025, the company disclosed.
  • Net loans receivable: $3,008,129 thousand at September 30, 2026, compared with $2,623,172 thousand at December 31, 2025, per the filing.
  • Bargain purchase gain: $1,658 thousand recorded in the third quarter of 2026, with no comparable amount in the prior-year period, the filing noted.
  • Acquisition costs: $2,463 thousand for the three months ended September 30, 2026, and $3,175 thousand for the nine months ended September 30, 2026, according to the filing.
  • Shares outstanding: 7,875,734 shares of common stock as of November 4, 2026, the registrant reported.
  • Diluted earnings per share: $0.63 for the three months ended September 30, 2026, versus $1.18 in the same quarter of 2025, the company disclosed.

FS Bancorp Reports Third-Quarter 2026 Financial Results Amid Acquisition Activity

According to the filing, FS Bancorp, Inc. (NASDAQ:FSBW) reported net interest income of $35,686 thousand for the three months ended September 30, 2026, up from $33,690 thousand in the year-earlier period. Total interest and dividend income for the quarter was $53,421 thousand, compared with $50,973 thousand in the third quarter of 2025. Total interest expense rose to $17,735 thousand from $17,283 thousand over the same periods.

The company disclosed a provision for credit losses of $3,462 thousand in the third quarter of 2026, compared with $2,309 thousand in the third quarter of 2025. For the nine months ended September 30, 2026, the provision totaled $8,632 thousand versus $5,922 thousand in the comparable prior-year period. The allowance for credit losses on loans receivable stood at $36,463 thousand at September 30, 2026, up from $31,937 thousand at December 31, 2025. Total noninterest expense for the quarter was $32,314 thousand, compared with $25,388 thousand in the prior-year quarter, with the filing attributing $2,463 thousand to acquisition costs in Q3 2026 versus none a year earlier. Salaries and benefits also increased, to $17,178 thousand from $14,415 thousand year over year.

On the balance sheet, total deposits grew to $2,867,204 thousand at September 30, 2026, from $2,673,642 thousand at December 31, 2025. Borrowings increased to $373,500 thousand from $129,305 thousand over the same interval. Total stockholders' equity was $333,206 thousand at September 30, 2026, compared with $307,694 thousand at December 31, 2025. Common shares issued and outstanding rose to 7,867,367 from 7,507,519 over the same period. Accumulated other comprehensive loss, net of tax, widened to $(18,983) thousand from $(15,829) thousand, the filing stated.

What Was Disclosed

FS Bancorp filed its quarterly report covering the period ended September 30, 2026, disclosing balance sheet growth, an acquisition-related bargain purchase gain of $1,658 thousand, higher provision for credit losses, and increased noninterest expense driven in part by acquisition costs of $3,175 thousand year-to-date.