Loading...
•
Dec 31, 2024
FS Bancorp Q4 2024 Earnings Report
Reported net income of $7.4 million, or $0.92 per diluted share, and a 3.7% increase in its quarterly dividend.
Key Takeaways
FS Bancorp reported a fourth-quarter net income of $7.4 million, or $0.92 per diluted share, compared to $9.8 million, or $1.23 per diluted share, for the comparable quarter one year ago. The decrease in net income was primarily due to a $420,000 tax benefit recorded during the preceding quarter, compared to a $2.5 million tax provision recorded for the fourth quarter of 2024. Despite economic volatility, the company surpassed $3 billion in total assets through organic loan growth and increased its quarterly cash dividend by $0.01 to $0.28 per common share.
Net income for Q4 2024 was $7.4 million, compared to $10.3 million in the previous quarter and $9.8 million in the comparable quarter one year ago.
Net interest margin (NIM) was 4.31% for Q4 2024, compared to 4.35% in the previous quarter and 4.24% for the comparable quarter one year ago.
Total deposits decreased by $87.9 million, or 3.6%, to $2.34 billion at December 31, 2024, primarily due to a $107.9 million decrease in brokered deposits.
Loans receivable, net increased by $38.3 million, or 1.6%, to $2.50 billion at December 31, 2024.