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Dec 31, 2021
FS Bancorp Q4 2021 Earnings Report
FS Bancorp reported net income of $8.6 million and EPS of $1.01 for Q4 2021.
Key Takeaways
FS Bancorp reported Q4 net income of $8.6 million, or $1.01 per diluted share, compared to $11.4 million, or $1.30 per diluted share in the comparable quarter one year ago. The fourth quarter results reflect strong loan growth funded by core deposits and continued diversified revenues supporting margins. The Board of Directors also approved the thirty-sixth consecutive quarterly cash dividend which is being increased to $0.20 from $0.15 per share.
Net income was $8.6 million for the fourth quarter of 2021, compared to $11.4 million for the comparable quarter one year ago.
Net interest income improved from $19.9 million in the comparable quarter one year ago to $22.7 million.
Total loans receivable, net increased $183.6 million, or 11.9% from $1.54 billion at December 31, 2020, to $1.73 billion at December 31, 2021.
Net interest margin (“NIM”) improved to 4.20% for the three months ended December 31, 2021, compared to 3.99% for the three months ended December 31, 2020.