FS Bancorp Management
Management criteria checks 3/4
FS Bancorp's CEO is Joe Adams, appointed in Sep 2011, has a tenure of 14.17 years. total yearly compensation is $1.56M, comprised of 35.2% salary and 64.8% bonuses, including company stock and options. directly owns 1.58% of the company’s shares, worth $4.77M. The average tenure of the management team and the board of directors is 0.9 years and 14.2 years respectively.
Key information
Joe Adams
Chief executive officer
US$1.6m
Total compensation
| CEO salary percentage | 35.21% |
| CEO tenure | 14.2yrs |
| CEO ownership | 1.6% |
| Management average tenure | less than a year |
| Board average tenure | 14.2yrs |
Recent management updates
Recent updates
FS Bancorp, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Oct 25
FS Bancorp (NASDAQ:FSBW) Has Announced That It Will Be Increasing Its Dividend To $0.27
Jul 18FS Bancorp's (NASDAQ:FSBW) Dividend Will Be Increased To $0.26
Jan 28Broker Revenue Forecasts For FS Bancorp, Inc. (NASDAQ:FSBW) Are Surging Higher
Jan 28CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2025 | n/a | n/a | US$32m |
| Jun 30 2025 | n/a | n/a | US$33m |
| Mar 31 2025 | n/a | n/a | US$34m |
| Dec 31 2024 | US$2m | US$550k | US$34m |
| Sep 30 2024 | n/a | n/a | US$37m |
| Jun 30 2024 | n/a | n/a | US$36m |
| Mar 31 2024 | n/a | n/a | US$36m |
| 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$24m |
Compensation vs Market: Joe's total compensation ($USD1.56M) is below average for companies of similar size in the US market ($USD2.29M).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
CEO
Joe Adams (66 yo)
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 had been the Chief Executive Officer until September 1, 2025 an...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 14.2yrs | US$1.56m | 1.58% $ 4.8m | |
| President | 1.3yrs | US$1.10m | 1.97% $ 6.0m | |
| Executive VP & Chief Information Officer | no data | US$668.39k | 0.21% $ 632.8k | |
| Executive VP & Chief Retail Banking Officer | no data | US$553.54k | 0.25% $ 769.7k | |
| Executive VP & Chief Lending Officer | no data | US$597.39k | 0.24% $ 732.4k | |
| VP & CFO | less than a year | no data | 0.077% $ 234.4k | |
| Senior VP & Chief Compliance Officer | less than a year | no data | no data | |
| Executive VP & Chief Human Resources Officer | no data | no data | 0.40% $ 1.2m | |
| Executive VP & Chief Home Lending Officer | no data | US$550.81k | 1.21% $ 3.7m | |
| Executive VP & Chief Credit Operations Officer | no data | no data | 0.079% $ 239.3k | |
| Executive VP | no data | no data | 0.51% $ 1.6m | |
| Executive VP & Chief Credit Administration Officer | no data | no data | 0.11% $ 326.8k |
Experienced Management: FSBW's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 20.8yrs | US$1.56m | 1.58% $ 4.8m | |
| Independent Director | 14.2yrs | US$124.72k | 0.26% $ 793.5k | |
| Independent Director | 1.2yrs | US$184.46k | 0.090% $ 272.0k | |
| Independent Chairman of the Board | 20.8yrs | US$137.90k | 1.07% $ 3.2m | |
| Independent Director | 17.8yrs | US$123.20k | 1.19% $ 3.6m | |
| Independent Director | 13.8yrs | US$124.88k | 0.075% $ 228.9k | |
| Independent Director | 4.8yrs | US$126.46k | 0.22% $ 662.8k |
Experienced Board: FSBW's board of directors are seasoned and experienced ( 14.2 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/11/28 21:42 |
| End of Day Share Price | 2025/11/28 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
FS Bancorp, Inc. is covered by 4 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jeffrey Rulis | D.A. Davidson & Co. |
| null null | D.A. Davidson & Co. |
| Timothy Coffey | Janney Montgomery Scott LLC |