FS Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 30, 2013 at 05:39 pm EST
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FS Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company has posted reported net income of $1.1 million, or $0.36 per diluted share, compared to $312,000 for the fourth quarter ended December 31, 2011. Net interest income was $4,615,000 against $3,492,000 a year ago. Return on assets was 1.22% against 0.44% a year ago. Return on equity was 7.13% against 4.66% a year ago.
For the year, net income was $5,295,000 or $1.76 basic and diluted per share compared to net income of $1,500,000 for the year ended December 31, 2011. Net Interest Income was $16,424,000 against $13,472,000 a year ago. Book value per common share was $19.92 against $18.32 a year ago. Return on assets was 1.64% against 0.56% a year ago. Return on equity was 12.71% against 5.92% a year ago.
FS Bancorp, Inc. is the holding company for 1st Security Bank of Washington (the Bank). The Bank provides loan and deposit services to customers who are predominantly small- and middle-market businesses and individuals in Washington and Oregon. The Bank has two segments: commercial and consumer banking and home lending. The commercial and consumer banking segment provides diversified financial products and services to its commercial and consumer customers through the Bank branches, online banking platforms, mobile banking apps, and telephone banking. These products and services include deposit products, residential, consumer, business and commercial real estate lending portfolios, and cash management services. The home lending segment originates one-to-four-family residential mortgage loans primarily for sale in the secondary markets, as well as loans held for investment. A majority of these mortgage loans are sold to or securitized by FNMA, FHLMC, GNMA or the FHLB of Des Moines.
FS BANCORP, INC. 
