FS Bancorp Management

Management criteria checks 4/4

FS Bancorp's CEO is Joe Adams, appointed in Sep 2011, has a tenure of 12.58 years. total yearly compensation is $1.37M, comprised of 38.2% salary and 61.8% bonuses, including company stock and options. directly owns 1.62% of the company’s shares, worth $3.90M. The average tenure of the management team and the board of directors is 12.6 years and 12.6 years respectively.

Key information

Joe Adams

Chief executive officer

US$1.4m

Total compensation

CEO salary percentage	38.2%
CEO tenure	12.6yrs
CEO ownership	1.6%
Management average tenure	12.6yrs
Board average tenure	12.6yrs

Recent management updates

Recent updates

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For FS Bancorp, Inc.'s (NASDAQ:FSBW) CEO For Now

May 21

FS Bancorp: A Robust Loan Book Bodes Well For The 2021 Results

Apr 28

FS Bancorp EPS beats by $0.91, beats on revenue

Apr 26

FS Bancorp, Inc. (NASDAQ:FSBW) Is An Attractive Dividend Stock - Here's Why

Apr 09

Is FS Bancorp, Inc.'s (NASDAQ:FSBW) Shareholder Ownership Skewed Towards Insiders?

Feb 26

FS Bancorp (NASDAQ:FSBW) Could Be A Buy For Its Upcoming Dividend

Feb 05

Introducing FS Bancorp (NASDAQ:FSBW), The Stock That Zoomed 131% In The Last Five Years

Feb 02

CEO Compensation Analysis

How has Joe Adams's remuneration changed compared to FS Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$1m	US$525k	US$35m
Sep 30 2023	n/a	n/a	US$33m
Jun 30 2023	n/a	n/a	US$33m
Mar 31 2023	n/a	n/a	US$30m
Dec 31 2022	US$1m	US$495k	US$29m
Sep 30 2022	n/a	n/a	US$30m
Jun 30 2022	n/a	n/a	US$30m
Mar 31 2022	n/a	n/a	US$32m
Dec 31 2021	US$2m	US$475k	US$37m
Sep 30 2021	n/a	n/a	US$40m
Jun 30 2021	n/a	n/a	US$44m
Mar 31 2021	n/a	n/a	US$46m
Dec 31 2020	US$2m	US$475k	US$39m
Sep 30 2020	n/a	n/a	US$34m
Jun 30 2020	n/a	n/a	US$28m
Mar 31 2020	n/a	n/a	US$23m
Dec 31 2019	US$1m	US$475k	US$23m
Sep 30 2019	n/a	n/a	US$28m
Jun 30 2019	n/a	n/a	US$25m
Mar 31 2019	n/a	n/a	US$25m
Dec 31 2018	US$2m	US$350k	US$24m
Sep 30 2018	n/a	n/a	US$16m
Jun 30 2018	n/a	n/a	US$16m
Mar 31 2018	n/a	n/a	US$16m
Dec 31 2017	US$988k	US$342k	US$14m

Compensation vs Market: Joe's total compensation ($USD1.37M) is about average for companies of similar size in the US market ($USD1.63M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.

CEO

Joe Adams (64 yo)

12.6yrs

Tenure

US$1,373,368

Compensation

Mr. Joseph C. Adams, also known as Joe, has been the Chief Executive Officer and Director of FS Bancorp, Inc. since September 2011. Mr. Adams has been the Chief Executive Officer and Director of 1st Securi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joseph Adams	CEO & Director	12.6yrs	US$1.37m	1.62% $ 3.9m
Matthew Mullet	CFO, Treasurer & Secretary	12.6yrs	US$891.17k	1.64% $ 3.9m
Shana Allen	Executive VP & Chief Information Officer of 1St Security Bank of Washington	14.3yrs	US$563.68k	0.14% $ 348.5k
Donn Costa	Executive Vice President of Home Lending Production - 1st Security Bank of Washington	no data	US$550.81k	1.14% $ 2.8m
May-Ling Sowell	Senior VP & Compliance Officer	no data	no data	no data
Kathrine Shairrick	Senior Vice President of Service & Operations - 1st Security Bank of Washington	no data	no data	no data
Jill Coates	Senior Vice President of Home Lending Credit	no data	no data	no data
Paul Taylor	Senior Vice President of Home Lending Operations	no data	no data	no data
Brian Kunkel	Senior VP & Director of Commercial Lending	no data	no data	no data
Kyle Johnson	Senior VP of Capital Markets	no data	no data	no data

12.6yrs

Average Tenure

61yo

Average Age

Experienced Management: FSBW's management team is seasoned and experienced (12.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joseph Adams	CEO & Director	12.6yrs	US$1.37m	1.62% $ 3.9m
Joseph Zavaglia	Independent Director	12.6yrs	US$99.32k	0.23% $ 554.1k
Ted Leech	Independent Chairman of the Board	12.6yrs	US$105.05k	0.99% $ 2.4m
Margaret Piesik	Independent Director	18.3yrs	US$96.62k	0.20% $ 485.9k
Michael Mansfield	Independent Director	16.3yrs	US$99.53k	1.11% $ 2.7m
Marina Cofer-Wildsmith	Independent Director	12.3yrs	US$96.68k	0.12% $ 283.7k
Pamela Andrews	Independent Director	3.3yrs	US$102.84k	0.17% $ 414.3k

12.6yrs

Average Tenure

66yo

Average Age

Experienced Board: FSBW's board of directors are seasoned and experienced ( 12.6 years average tenure).

FS Bancorp Management

Management criteria checks 4/4

Key information

Recent management updates

FS Bancorp, Inc., Annual General Meeting, May 23, 2024

Independent Director exercised options and sold US$263k worth of stock

Independent Director exercised options and sold US$202k worth of stock

Chief Credit Officer recently sold US$144k worth of stock

1St Security Bank Announces the Promotion of Shana Allen to Executive Vice President

Insufficient new directors

Recent updates

FS Bancorp, Inc., Annual General Meeting, May 23, 2024

Full year 2023 earnings: EPS exceeds analyst expectations

Independent Director exercised options and sold US$263k worth of stock

Upcoming dividend of US$0.26 per share at 2.8% yield

FS Bancorp's (NASDAQ:FSBW) Dividend Will Be Increased To $0.26

Fourth quarter dividend increased to US$0.26

FS Bancorp, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2023

Full year 2023 earnings: EPS exceeds analyst expectations

FS Bancorp, Inc. Approves Increase in the Quarterly Dividend, Payable on February 22, 2024

Independent Director exercised options and sold US$202k worth of stock

Price target decreased by 9.5% to US$33.50

Upcoming dividend of US$0.25 per share at 3.5% yield

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

FS Bancorp, Inc. Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023

FS Bancorp, Inc. (NasdaqCM:FSBW) announces an Equity Buyback for 2.5% of its issued share capital, for $5 million.

Upcoming dividend of US$0.25 per share at 3.3% yield

Second quarter 2023 earnings: EPS misses analyst expectations

FS Bancorp, Inc. Approves Quarterly Cash Dividend, Payable on August 24, 2023

Chief Credit Officer recently sold US$144k worth of stock

Upcoming dividend of US$0.25 per share at 3.4% yield

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Investor sentiment deteriorates as stock falls 16%

1St Security Bank Announces the Promotion of Shana Allen to Executive Vice President

Price target increased by 14% to US$37.50

Consensus revenue estimates increase by 14%

Upcoming dividend of US$0.25 per share at 2.8% yield

Broker Revenue Forecasts For FS Bancorp, Inc. (NASDAQ:FSBW) Are Surging Higher

FS Bancorp, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

FS Bancorp, Inc. Announces Quarterly Dividend, Payable on February 23, 2023

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

1st Security Bank of Washington Announces Receipt of Regulatory Approvals to Buy Seven Washington and Oregon Branches from Columbia State Bank

Insufficient new directors

Chief Credit Officer recently sold US$78k worth of stock

Upcoming dividend of US$0.20 per share

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

FS Bancorp, Inc. Approves Quarterly Dividend, Payable on November 23, 2022

Chief Credit Officer recently sold US$460k worth of stock

Independent Director exercised options and sold US$119k worth of stock

Upcoming dividend of US$0.20 per share

FS Bancorp, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022

Second quarter 2022 earnings released: EPS: US$0.84 (vs US$1.00 in 2Q 2021)

FS Bancorp, Inc.(NasdaqCM:FSBW) dropped from Russell 2000 Defensive Index

FS Bancorp, Inc. and 1st Security Bank of Washington Announce Retirement of Mark H. Tueffers from the Board of Directors

Independent Director recently sold US$75k worth of stock

Price target decreased to US$34.67

Upcoming dividend of US$0.30 per share

First quarter 2022 earnings: EPS exceeds analyst expectations

Insufficient new directors

FS Bancorp: Likely Trading At A Discount To Its Tangible Book Value

FS Bancorp, Inc., Annual General Meeting, May 26, 2022

FS Bancorp, Inc. Declares Special Cash Dividend, Payable on May 26, 2022

FS Bancorp, Inc. (NasdaqCM:FSBW) announces an Equity Buyback for $10 million worth of its shares.

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.20 per share

Full year 2021 earnings: EPS and revenues exceed analyst expectations

FS Bancorp, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021

Insider recently sold US$176k worth of stock

Insider recently sold US$182k worth of stock

Upcoming dividend of US$0.15 per share

Third quarter 2021 earnings released: EPS US$0.99 (vs US$1.50 in 3Q 2020)

FS Bancorp, Inc. (NasdaqCM:FSBW) announces an Equity Buyback for $10 million worth of its shares.

Chief Credit Officer recently sold US$66k worth of stock

2 Community Banks In The Pacific Northwest That Are Worth A Look

Second quarter 2021 earnings released: EPS US$1.02 (vs US$1.17 in 2Q 2020)

Upcoming dividend of US$0.14 per share

FS Bancorp, Inc.(NasdaqCM:FSBW) dropped from Russell Microcap Growth Index

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For FS Bancorp, Inc.'s (NASDAQ:FSBW) CEO For Now

Insider recently sold US$888k worth of stock

Insider exercised options and sold US$465k worth of stock