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Jun 30, 2021
FS Bancorp Q2 2021 Earnings Report
FS Bancorp reported net income for the second quarter of 2021, implemented a two-for-one stock split, and scheduled payment of the thirty-fourth quarterly dividend.
Key Takeaways
FS Bancorp reported a net income of $8.5 million, or $0.97 per diluted share, for the second quarter of 2021. The company's performance reflects diversified lending growth funded by operational, relationship-based deposits.
Net income was $8.5 million for the second quarter of 2021.
Net interest income increased to $21.2 million.
Total net loans increased $52.6 million, or 3.3%, to $1.65 billion.
Deposits increased $77.8 million during the quarter to $1.86 billion.
Forward Guidance
This press release contains forward-looking statements regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements.
Challenges Ahead
- The effect of the COVID-19 pandemic, including on the Company’s credit quality and business operations, as well as its impact on general economic and financial market conditions and other uncertainties resulting from the COVID-19 pandemic
- Increased competitive pressures
- Changes in the interest rate environment
- Changes in general economic conditions and conditions within the securities markets, the Company’s ability to execute its plans to grow its residential construction lending, mortgage banking, and warehouse lending operations, and the geographic expansion of its indirect home improvement lending
- Secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market
Historical Earnings Impact
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Avg. Return Before/After Earnings
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