FS Bancorp, Inc. Announces Further Share Repurchase Authorization

MOUNTLAKE TERRACE, Wash., Aug. 30, 2021 (Globe NEWSWIRE) — FS Bancorp, Inc. (NASDAQ: FSBW) (“Company”), the keeping company for 1st Security Bank of Washington (“Bank”) today introduced that the Company’s Board of Directors authorized an extra share repurchase system of up to $10. million of the Company’s typical stock. The authorization is effective straight away and is additive to the past $15. million share repurchase plan, which has somewhere around $900,000 remaining approved and offered for repurchase.

The repurchase application permits shares to be repurchased in open up marketplace or private transactions or pursuant to a buying and selling system adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission (“SEC”).

Repurchases will be made at management’s discretion at selling prices administration considers to be interesting and in the greatest pursuits of both the Corporation and its shareholders, subject to the availability of stock, basic industry disorders, the investing rate of the inventory, different employs for funds, and the Company’s economical efficiency. Open market place buys will be carried out in accordance with the constraints set forth in Rule 10b-18 of the SEC and other relevant legal necessities.

The repurchase method may be suspended, terminated or modified at any time for any cause, which include industry disorders, the price tag of repurchasing shares, the availability of different expenditure options, liquidity, and other factors considered appropriate. These factors may well also affect the timing and amount of share repurchases. The repurchase plan does not obligate the Organization to buy any individual number of shares.

About FS Bancorp

FS Bancorp, Inc., a Washington corporation, is the holding corporation for 1st Stability Financial institution of Washington. The Financial institution delivers financial loan and deposit companies to buyers who are predominantly little- and middle-sector firms and people today in Western Washington by means of its 21 financial institution branches, 1 headquarters business that accepts deposits, and 11 mortgage creation offices in numerous suburban communities in the increased Puget Audio region, and one house lending place of work in the industry spot of the Tri-Metropolitan areas, Washington.

Forward Hunting Statements

When utilised in this push launch and in other files filed with or furnished to the Securities and Exchange Fee (the “SEC”), in presentations or other public shareholder communications, or in oral statements manufactured with the acceptance of an authorized executive officer, the words and phrases or phrases “believe,” “will,” “will likely result,” “are expected to,” “will proceed,” “is expected,” “estimate,” “project,” “plans,” or equivalent expressions are meant to determine “forward-searching statements” within the which means of the Personal Securities Litigation Reform Act of 1995. Ahead looking statements are not historic information but as an alternative characterize management’s present anticipations and forecasts relating to long run gatherings, a lot of of which are inherently unsure and outside of our regulate. Actual effects may well differ, potentially materially, from people presently envisioned or projected in these ahead-on the lookout statements. Aspects that could induce the Company’s true success to differ materially from those people explained in the ahead- seeking statements, incorporate but are not limited to, the subsequent: the impact of the COVID-19 pandemic, such as on FS Bancorp, Inc. (the “Company”) credit score high quality and business operations, as nicely as its effects on common financial and financial market problems and other uncertainties ensuing from the COVID-19 pandemic, these kinds of as the extent and period of the impression on public wellbeing, the U.S. and world economies, and buyer and company consumers, which include financial exercise, work amounts and sector liquidity increased aggressive pressures improvements in the interest level setting alterations in common financial situations and conditions within the securities marketplaces, which includes as a end result of the COVID-19 pandemic the Company’s means to execute its programs to mature its residential design lending, home finance loan banking, and warehouse lending functions, and the geographic expansion of its indirect dwelling enhancement lending secondary industry disorders for loans and the Company’s capability to originate financial loans for sale and market financial loans in the secondary industry legislative and regulatory adjustments and other elements described in the Company’s latest Yearly Report on Kind 10-K, Quarterly Experiences on Variety 10-Q, and other filings with the SEC which are offered on its website at www.fsbwa.com and on the SEC’s website at www.sec.gov. Any of the forward- on the lookout statements that the Firm would make in this presentation and in the other public statements are primarily based upon management’s beliefs and assumptions at the time they are manufactured and might switch out to be incorrect since of the inaccurate assumptions the Firm may possibly make, due to the fact of the things illustrated higher than or simply because of other elements that can not be foreseen by the Corporation. For that reason, these variables should really be regarded as in assessing the ahead hunting statements, and undue reliance must not be positioned on these statements. The Business does not undertake and specifically disclaim any obligation to revise any forward-searching statements to replicate the prevalence of anticipated or unanticipated activities or situation following the date of these statements. These hazards could trigger the Company’s real outcomes for 2021 and past to vary materially from all those expressed in any ahead-searching statements produced by, or on behalf of the Corporation and could negatively impact its operating and stock effectiveness.

Joseph C. Adams,
Main Govt Officer
Matthew D. Mullet,
Main Fiscal Officer
(425) 771-5299