# EDGAR Filing Document

**Accession Number:** 0001530249
**File Stem:** 0000939057-23-000057
**Filing Date:** 2023-2
**Character Count:** 8561
**Document Hash:** d0b8533b2b7fa303515761fc99dce6aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000939057-23-000057.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0000939057-23-000057

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230224

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FS Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001530249
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **IRS NUMBER:** 454585178
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35589
- **FILM NUMBER:** 23670328

**BUSINESS ADDRESS:**
- **STREET 1:** 6920 220TH STREET SW
- **CITY:** MOUNTLAKE TERRACE
- **STATE:** WA
- **ZIP:** 98043
- **BUSINESS PHONE:** 425-771-5299

**MAIL ADDRESS:**
- **STREET 1:** 6920 220TH STREET SW
- **CITY:** MOUNTLAKE TERRACE
- **STATE:** WA
- **ZIP:** 98043

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): **February 24, 2023**

### FS BANCORP, INC.
(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Washington**<br>| **001-35589**<br>| **45-4585178**<br>|
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **6920 220th Street SW**<br>**Mountlake Terrace, Washington** | <br> **98043**<br>|
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(425) 771-5299**

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| |
|:---|
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. |
|  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|  ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|  ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|  ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
|  Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|  Common Stock, par value $.01 per share<br>| FSBW<br>| The NASDAQ Stock Market LLC<br>|

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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#### Item 8.01. Other Events.
On February 27, 2023, FS Bancorp, Inc. (the "Company") announced that 1st Security Bank of Washington ("1st Security Bank"), the wholly owned subsidiary of the Company, had completed the previously announced purchase and assumption of seven branch locations, two in Washington and five in Oregon, from Columbia State Bank, a subsidiary of Columbia Banking System, Inc. In connection with the purchase, 1st Security Bank assumed approximately $431 million in deposit liabilities and acquired approximately $67 million in loans. The purchase was finalized following the close of business on February 24, 2023, and the branches were converted to 1st Security Bank branches during the weekend of February 25-26, 2023. The acquired branches opened as 1st Security Bank branches on the morning of February 27, 2023. Also on February 27, 2023, the Company published a press release announcing completion of the acquisition. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

#### Item 9.01. Financial Statements and Exhibits.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Exhibits**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press release of FS Bancorp, Inc. dated February 27, 2023](ex99182723.htm)<br>|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| Date: February 27, 2023 | FS BANCORP, INC. |
|  | /s/ Matthew D. Mullet |
|  | Matthew D. Mullet |
|  | Chief Financial Officer <br>|

---

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## Exhibit 99.1

**Exhibit 99.1**<br>

**** 

![](image0.jpg)

**Contact:** Joseph C. Adams**,**

Chief Executive Officer

&nbsp;&nbsp;&nbsp;&nbsp; Matthew D. Mullet,

Chief Financial Officer<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (425) 771-5299

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>www.FSBWA.com</u>

#### 1st Security Bank Completes its Previously Announced Acquisition of Seven Branch Locations in Washington and Oregon

Mountlake Terrace, WA – February 27, 2023 – FS Bancorp, Inc. (NASDAQ:FSBW), the holding company for 1st Security Bank of Washington ("1st Security Bank"), announced today that 1st Security Bank has completed the previously announced purchase and assumption of seven branch locations, two in Washington and five in Oregon, from Columbia State Bank, a subsidiary of Columbia Banking System, Inc. In connection with the purchase, 1st Security Bank assumed approximately $431 million in deposit liabilities and acquired approximately $67 million in loans.

"We are excited to welcome our new customers, employees and communities to 1st Security Bank," said Joe Adams, Chief Executive Officer of FS Bancorp, Inc. and 1st Security Bank. "The completion of this transaction serves to expand our retail footprint into Oregon and further expands our Washington operations, while providing us with a great opportunity to extend our unique brand of community banking into those communities."

FS Bancorp was advised by Raymond James & Associates, Inc., and Breyer & Associates PC served as legal counsel in connection with the transaction.

**About 1st Security Bank**<br> 1st Security Bank, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty branches, and mortgage services at each branch as well as lending offices in the greater Puget Sound area, Vancouver, and the Tri-Cities. FS Bancorp, Inc., a Washington corporation, (NASDAQ: FSBW) is the holding company for the Bank. The Bank was rated the number one Community Bank nationally in Bank Director's 2022 "Ranking Banking" study, as well as the #1 Leadership Team of all banks studied nationally. 1st Security Bank is the top bank in its category in the Puget Sound Business Journals "Washington's Best Workplaces" from 2015-2022 and named one of American Banker's "Best Banks to Work For" from 2017-2021. 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 FS Bancorp expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the Securities and Exchange Commission reports of FS Bancorp, particularly its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.

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