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Sep 30, 2020
FS Bancorp Q3 2020 Earnings Report
Net income of $12.7 million, or $2.94 per diluted share, was reported.
Key Takeaways
FS Bancorp reported a strong third quarter with net income of $12.7 million, or $2.94 per diluted share, driven by robust loan growth and strong profitability amidst the COVID-19 pandemic.
Net income for Q3 2020 was $12.7 million, compared to $7.1 million for the same quarter last year.
The provision for loan losses was $3.1 million in response to the COVID-19 pandemic and additional loan growth.
Total gross loans increased by $50.5 million during the quarter, reaching $1.52 billion at September 30, 2020.
The company closed a record $589.9 million of one-to-four family loans in the third quarter.