FS Bancorp Inc 2025年度报告

FORM10-K Securities Registered Pursuant to Section 12(g) of the Act:None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes☐No☒ Indicate by check mark if the Registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes☐No☒ Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the Registrant was required to file suchreports), and (2)has beensubject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer”, “smallerreporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐Emerging growth company☐ Accelerated filer☒Smaller reporting company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) bythe registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the Registrant is a shell company (as defined in Exchange Act Rule12b-2). Yes☐No☒ The aggregate market value of the voting and nonvoting common equityheld by non-affiliates of the registrant was $259,816,442based on the closing sales price of $39.38 per share of the registrant’s common stock as quoted on the NASDAQ Stock MarketLLC on June30, 2025. For purposes of this calculation, common stock held by executive officers and directors of the registrant isconsidered to be held by affiliates.As of March 11, 2026, there were 7,501,542shares of the registrant’s common stockoutstanding. DOCUMENTS INCORPORATED BY REFERENCE 1.Portions of the definitive Proxy Statement for the2026 Annual Meeting of Shareholders (“Proxy Statement”) are incorporated FS Bancorp,Inc.Table of Contents PARTIItem1.Business:GeneralMarket AreaLending ActivitiesLoan Originations, Servicing, Purchases and SalesAsset QualityAllowance for CreditLossesInvestment ActivitiesDeposit Activities and Other Sources of FundsSubsidiary and Other ActivitiesCompetitionInformation about our Executive OfficersHuman CapitalHow We Are RegulatedTaxationItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem 1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety Disclosures PARTII Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities50Item6.Reserved52Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations52Overview52Critical Accounting Policies and Estimates54Our Business and Operating Strategy and Goals56Comparison of Financial Condition at December31, 2025and December31, 202456Average Balances, Interest and Average Yields/Costs60Rate/Volume Analysis61Comparison of Results of Operations for theYears Ended December31, 2025and December31, 202461Asset and Liability Management and Market Risk65Recent Accounting Pronouncements69Item7A.Quantitative and Qualitative Disclosures about Market Risk69Item8.Financial Statements and Supplementary Data69Item9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure129Item9A.Controls and Procedures129Item9B.Other Information130Item 9C.Disclosure Regarding Foreign Jurisdiction that Prevent Inspections130 PARTIII Item10.Directors, Executive Officers and Corporate Governance130Item11.Executive Compensation131Item12.Security Ownership of Certain Beneficia