Annual Income Statements for FS Bancorp
This table shows FS Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for FS Bancorp
This table shows FS Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
Consolidated Net Income / (Loss) |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
Net Income / (Loss) Continuing Operations |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
Total Pre-Tax Income |
|
11 |
9.56 |
10 |
11 |
11 |
12 |
11 |
11 |
9.87 |
9.85 |
Total Revenue |
|
32 |
33 |
36 |
36 |
36 |
36 |
35 |
36 |
37 |
36 |
Net Interest Income / (Expense) |
|
28 |
29 |
31 |
32 |
31 |
30 |
30 |
30 |
31 |
31 |
Total Interest Income |
|
31 |
36 |
39 |
41 |
43 |
44 |
45 |
46 |
47 |
47 |
Loans and Leases Interest Income |
|
30 |
34 |
36 |
38 |
40 |
41 |
41 |
42 |
44 |
44 |
Investment Securities Interest Income |
|
1.74 |
2.06 |
2.62 |
2.65 |
3.40 |
3.58 |
3.88 |
3.53 |
3.24 |
3.32 |
Total Interest Expense |
|
3.78 |
6.52 |
7.95 |
9.32 |
13 |
14 |
15 |
16 |
16 |
16 |
Deposits Interest Expense |
|
2.60 |
3.98 |
6.62 |
7.61 |
10 |
12 |
13 |
13 |
13 |
14 |
Long-Term Debt Interest Expense |
|
1.18 |
2.54 |
1.33 |
1.71 |
2.17 |
1.93 |
1.65 |
2.29 |
2.31 |
2.32 |
Total Non-Interest Income |
|
4.18 |
3.70 |
5.22 |
4.83 |
4.98 |
5.46 |
5.11 |
5.87 |
5.97 |
4.61 |
Other Service Charges |
|
2.56 |
2.88 |
3.52 |
2.66 |
2.87 |
3.80 |
2.82 |
3.01 |
3.04 |
2.62 |
Net Realized & Unrealized Capital Gains on Investments |
|
1.40 |
0.59 |
1.48 |
1.95 |
1.88 |
1.41 |
2.06 |
2.61 |
2.68 |
1.73 |
Other Non-Interest Income |
|
0.22 |
0.22 |
0.22 |
0.23 |
0.23 |
0.24 |
0.24 |
0.24 |
0.25 |
0.26 |
Provision for Credit Losses |
|
1.72 |
1.59 |
2.11 |
0.72 |
0.55 |
1.40 |
1.40 |
1.08 |
1.51 |
1.52 |
Total Non-Interest Expense |
|
19 |
22 |
24 |
24 |
24 |
22 |
24 |
24 |
26 |
24 |
Salaries and Employee Benefits |
|
11 |
13 |
14 |
14 |
14 |
13 |
14 |
13 |
14 |
14 |
Net Occupancy & Equipment Expense |
|
2.89 |
3.04 |
3.09 |
3.25 |
3.43 |
3.47 |
3.66 |
3.73 |
3.82 |
4.07 |
Marketing Expense |
|
0.22 |
0.25 |
0.19 |
0.43 |
0.45 |
0.28 |
0.23 |
0.38 |
0.38 |
0.33 |
Property & Liability Insurance Claims |
|
0.46 |
0.42 |
0.58 |
0.59 |
0.56 |
0.66 |
0.53 |
0.45 |
0.53 |
0.49 |
Other Operating Expenses |
|
4.19 |
4.55 |
3.84 |
5.34 |
4.64 |
4.41 |
4.52 |
5.06 |
5.72 |
4.99 |
Amortization Expense |
|
0.17 |
0.17 |
0.46 |
1.02 |
1.00 |
0.98 |
0.94 |
0.92 |
0.90 |
0.88 |
Impairment Charge |
|
0.00 |
- |
0.00 |
-0.00 |
0.00 |
0.05 |
0.09 |
-0.05 |
0.51 |
-0.58 |
Income Tax Expense |
|
2.19 |
1.94 |
2.04 |
2.35 |
2.53 |
2.30 |
2.13 |
2.38 |
-0.42 |
2.47 |
Basic Earnings per Share |
|
$1.09 |
$0.98 |
$1.06 |
$1.17 |
$1.15 |
$1.25 |
$1.07 |
$1.15 |
$1.32 |
$0.94 |
Weighted Average Basic Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Diluted Earnings per Share |
|
$1.08 |
$0.98 |
$1.04 |
$1.16 |
$1.13 |
$1.23 |
$1.06 |
$1.13 |
$1.29 |
$0.88 |
Weighted Average Diluted Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Weighted Average Basic & Diluted Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Annual Cash Flow Statements for FS Bancorp
This table details how cash moves in and out of FS Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
15 |
24 |
-34 |
Net Cash From Operating Activities |
185 |
78 |
51 |
Net Cash From Continuing Operating Activities |
185 |
78 |
51 |
Net Income / (Loss) Continuing Operations |
30 |
36 |
35 |
Consolidated Net Income / (Loss) |
30 |
36 |
35 |
Provision For Loan Losses |
6.22 |
4.77 |
5.51 |
Depreciation Expense |
14 |
13 |
11 |
Non-Cash Adjustments to Reconcile Net Income |
134 |
28 |
-3.15 |
Changes in Operating Assets and Liabilities, net |
1.19 |
-3.73 |
2.87 |
Net Cash From Investing Activities |
-504 |
78 |
-104 |
Net Cash From Continuing Investing Activities |
-504 |
78 |
-104 |
Purchase of Property, Leasehold Improvements and Equipment |
-1.55 |
-1.67 |
-1.64 |
Purchase of Investment Securities |
-570 |
-275 |
-264 |
Divestitures |
0.00 |
336 |
0.00 |
Sale and/or Maturity of Investments |
67 |
18 |
161 |
Net Cash From Financing Activities |
334 |
-131 |
19 |
Net Cash From Continuing Financing Activities |
334 |
-131 |
19 |
Net Change in Deposits |
212 |
-31 |
-183 |
Issuance of Debt |
3,004 |
2,164 |
968 |
Repayment of Debt |
-2,860 |
-2,257 |
-754 |
Repurchase of Common Equity |
-16 |
-0.22 |
-2.51 |
Payment of Dividends |
-7.10 |
-7.76 |
-8.27 |
Other Financing Activities, Net |
0.88 |
0.39 |
-0.94 |
Cash Interest Paid |
11 |
39 |
63 |
Cash Income Taxes Paid |
4.69 |
10 |
2.37 |
Quarterly Cash Flow Statements for FS Bancorp
This table details how cash moves in and out of FS Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
131 |
-118 |
17 |
74 |
-51 |
-15 |
-20 |
-12 |
7.33 |
-8.71 |
Net Cash From Operating Activities |
|
35 |
21 |
18 |
24 |
23 |
13 |
0.28 |
10 |
-0.63 |
41 |
Net Cash From Continuing Operating Activities |
|
35 |
21 |
18 |
24 |
23 |
13 |
0.28 |
10 |
-0.63 |
41 |
Net Income / (Loss) Continuing Operations |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
Consolidated Net Income / (Loss) |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
Provision For Loan Losses |
|
1.72 |
1.59 |
2.11 |
0.72 |
0.55 |
1.40 |
1.40 |
1.08 |
1.51 |
1.52 |
Depreciation Expense |
|
2.78 |
3.54 |
3.36 |
2.86 |
3.29 |
3.14 |
2.84 |
2.94 |
2.17 |
2.62 |
Non-Cash Adjustments to Reconcile Net Income |
|
18 |
8.96 |
4.23 |
14 |
8.91 |
0.52 |
-16 |
2.17 |
-16 |
28 |
Changes in Operating Assets and Liabilities, net |
|
3.63 |
-0.76 |
0.57 |
-3.28 |
1.19 |
-2.21 |
4.13 |
-5.05 |
1.89 |
1.91 |
Net Cash From Investing Activities |
|
-150 |
-109 |
288 |
-62 |
-83 |
-65 |
2.56 |
12 |
-15 |
-104 |
Net Cash From Continuing Investing Activities |
|
-150 |
-109 |
288 |
-62 |
-83 |
-65 |
2.56 |
12 |
-15 |
-104 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.29 |
-0.86 |
-0.95 |
-0.16 |
-0.28 |
-0.28 |
-0.36 |
-0.28 |
-0.62 |
-0.38 |
Purchase of Investment Securities |
|
-197 |
-112 |
-49 |
-69 |
-88 |
-69 |
-64 |
-57 |
-25 |
-118 |
Sale and/or Maturity of Investments |
|
47 |
3.77 |
2.50 |
6.26 |
4.73 |
4.52 |
66 |
70 |
10 |
15 |
Net Cash From Financing Activities |
|
247 |
-31 |
-290 |
113 |
9.14 |
37 |
-23 |
-35 |
23 |
54 |
Net Cash From Continuing Financing Activities |
|
247 |
-31 |
-290 |
113 |
9.14 |
37 |
-23 |
-35 |
23 |
54 |
Net Change in Deposits |
|
67 |
44 |
-109 |
-78 |
89 |
68 |
-57 |
-83 |
45 |
-88 |
Issuance of Debt |
|
831 |
1,849 |
383 |
661 |
682 |
439 |
175 |
383 |
150 |
260 |
Repayment of Debt |
|
-648 |
-1,923 |
-562 |
-469 |
-760 |
-467 |
-139 |
-331 |
-168 |
-116 |
Payment of Dividends |
|
-1.55 |
-1.54 |
-1.94 |
-1.94 |
-1.94 |
-1.95 |
-2.03 |
-2.03 |
-2.09 |
-2.11 |
Other Financing Activities, Net |
|
-0.34 |
1.09 |
0.30 |
0.28 |
0.09 |
-0.28 |
-0.21 |
0.25 |
-0.89 |
-0.11 |
Cash Interest Paid |
|
2.58 |
5.43 |
7.06 |
8.12 |
11 |
12 |
12 |
19 |
16 |
16 |
Cash Income Taxes Paid |
|
1.37 |
1.80 |
0.00 |
5.99 |
2.37 |
2.04 |
0.00 |
2.06 |
0.37 |
-0.07 |
Annual Balance Sheets for FS Bancorp
This table presents FS Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
2,633 |
2,973 |
3,029 |
Cash and Due from Banks |
11 |
17 |
19 |
Interest Bearing Deposits at Other Banks |
31 |
49 |
12 |
Time Deposits Placed and Other Short-Term Investments |
4.71 |
24 |
1.73 |
Trading Account Securities |
229 |
301 |
8.46 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
Loans Held for Sale |
20 |
26 |
2,530 |
Premises and Equipment, Net |
25 |
31 |
30 |
Goodwill |
2.31 |
3.59 |
3.59 |
Intangible Assets |
3.37 |
17 |
14 |
Other Assets |
2,298 |
2,496 |
411 |
Total Liabilities & Shareholders' Equity |
2,633 |
2,973 |
3,029 |
Total Liabilities |
2,401 |
2,708 |
2,733 |
Non-Interest Bearing Deposits |
554 |
671 |
638 |
Interest Bearing Deposits |
1,574 |
1,851 |
1,701 |
Short-Term Debt |
187 |
94 |
308 |
Long-Term Debt |
49 |
50 |
50 |
Other Long-Term Liabilities |
37 |
43 |
37 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
232 |
264 |
296 |
Total Preferred & Common Equity |
232 |
264 |
296 |
Preferred Stock |
0.00 |
0.00 |
0.00 |
Total Common Equity |
232 |
264 |
296 |
Common Stock |
55 |
57 |
56 |
Retained Earnings |
202 |
230 |
257 |
Accumulated Other Comprehensive Income / (Loss) |
-26 |
-23 |
-17 |
Quarterly Balance Sheets for FS Bancorp
This table presents FS Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
2,652 |
2,783 |
2,906 |
2,920 |
2,970 |
2,941 |
2,970 |
Cash and Due from Banks |
|
12 |
21 |
18 |
18 |
17 |
20 |
18 |
Interest Bearing Deposits at Other Banks |
|
148 |
37 |
115 |
63 |
28 |
13 |
22 |
Time Deposits Placed and Other Short-Term Investments |
|
4.96 |
4.71 |
15 |
18 |
23 |
13 |
12 |
Trading Account Securities |
|
228 |
232 |
226 |
260 |
288 |
221 |
237 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Loans Held for Sale |
|
23 |
23 |
17 |
19 |
50 |
54 |
49 |
Premises and Equipment, Net |
|
25 |
32 |
31 |
31 |
30 |
30 |
30 |
Goodwill |
|
2.31 |
3.59 |
3.59 |
3.59 |
3.59 |
3.59 |
3.59 |
Intangible Assets |
|
3.54 |
20 |
19 |
18 |
16 |
15 |
15 |
Other Assets |
|
2,196 |
2,409 |
2,462 |
2,490 |
2,513 |
2,563 |
2,584 |
Total Liabilities & Shareholders' Equity |
|
2,652 |
2,783 |
2,906 |
2,920 |
2,970 |
2,941 |
2,970 |
Total Liabilities |
|
2,432 |
2,541 |
2,656 |
2,669 |
2,692 |
2,657 |
2,681 |
Non-Interest Bearing Deposits |
|
582 |
747 |
675 |
670 |
647 |
623 |
658 |
Interest Bearing Deposits |
|
1,502 |
1,696 |
1,690 |
1,784 |
1,818 |
1,759 |
1,770 |
Short-Term Debt |
|
261 |
- |
200 |
122 |
130 |
182 |
164 |
Long-Term Debt |
|
-0.56 |
7.01 |
-0.51 |
50 |
50 |
50 |
50 |
Other Long-Term Liabilities |
|
88 |
91 |
91 |
44 |
47 |
43 |
41 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
221 |
242 |
250 |
251 |
278 |
284 |
289 |
Total Preferred & Common Equity |
|
221 |
242 |
250 |
251 |
278 |
284 |
289 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
221 |
242 |
250 |
251 |
278 |
284 |
289 |
Common Stock |
|
54 |
56 |
57 |
58 |
58 |
56 |
55 |
Retained Earnings |
|
196 |
208 |
216 |
223 |
237 |
244 |
252 |
Accumulated Other Comprehensive Income / (Loss) |
|
-29 |
-23 |
-22 |
-29 |
-16 |
-16 |
-18 |
Annual Metrics And Ratios for FS Bancorp
This table displays calculated financial ratios and metrics derived from FS Bancorp's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
-1.43% |
17.49% |
0.60% |
EBITDA Growth |
-18.55% |
13.59% |
-9.97% |
EBIT Growth |
-22.00% |
22.40% |
-8.15% |
NOPAT Growth |
-20.75% |
21.60% |
-2.85% |
Net Income Growth |
-20.75% |
21.60% |
-2.85% |
EPS Growth |
-15.33% |
23.24% |
-4.39% |
Operating Cash Flow Growth |
69.62% |
-57.99% |
-34.56% |
Free Cash Flow Firm Growth |
-205.13% |
197.33% |
-319.20% |
Invested Capital Growth |
37.79% |
-12.81% |
60.18% |
Revenue Q/Q Growth |
2.02% |
2.07% |
-0.13% |
EBITDA Q/Q Growth |
-2.03% |
3.79% |
-5.01% |
EBIT Q/Q Growth |
-2.86% |
5.87% |
-5.08% |
NOPAT Q/Q Growth |
-3.35% |
6.34% |
-6.39% |
Net Income Q/Q Growth |
-3.35% |
6.34% |
-6.39% |
EPS Q/Q Growth |
-7.04% |
4.83% |
-7.43% |
Operating Cash Flow Q/Q Growth |
6.61% |
-9.67% |
127.12% |
Free Cash Flow Firm Q/Q Growth |
41.23% |
3.59% |
-391.55% |
Invested Capital Q/Q Growth |
-2.73% |
-3.39% |
30.04% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
41.66% |
40.28% |
36.05% |
EBIT Margin |
30.22% |
31.48% |
28.74% |
Profit (Net Income) Margin |
24.23% |
25.07% |
24.21% |
Tax Burden Percent |
80.16% |
79.64% |
84.23% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
19.84% |
20.36% |
15.77% |
Return on Invested Capital (ROIC) |
7.35% |
8.24% |
6.60% |
ROIC Less NNEP Spread (ROIC-NNEP) |
7.35% |
8.24% |
6.60% |
Return on Net Nonoperating Assets (RNNOA) |
5.03% |
6.30% |
5.90% |
Return on Equity (ROE) |
12.37% |
14.53% |
12.50% |
Cash Return on Invested Capital (CROIC) |
-24.43% |
21.93% |
-39.66% |
Operating Return on Assets (OROA) |
1.50% |
1.62% |
1.39% |
Return on Assets (ROA) |
1.21% |
1.29% |
1.17% |
Return on Common Equity (ROCE) |
12.37% |
14.53% |
12.50% |
Return on Equity Simple (ROE_SIMPLE) |
12.80% |
13.63% |
11.84% |
Net Operating Profit after Tax (NOPAT) |
30 |
36 |
35 |
NOPAT Margin |
24.23% |
25.07% |
24.21% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
48.83% |
47.43% |
49.55% |
Operating Expenses to Revenue |
64.70% |
65.20% |
67.45% |
Earnings before Interest and Taxes (EBIT) |
37 |
45 |
42 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
51 |
58 |
52 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.04 |
1.05 |
1.08 |
Price to Tangible Book Value (P/TBV) |
1.07 |
1.14 |
1.14 |
Price to Revenue (P/Rev) |
1.97 |
1.93 |
2.20 |
Price to Earnings (P/E) |
8.12 |
7.72 |
9.10 |
Dividend Yield |
2.56% |
2.80% |
2.60% |
Earnings Yield |
12.31% |
12.96% |
10.99% |
Enterprise Value to Invested Capital (EV/IC) |
0.92 |
0.81 |
0.98 |
Enterprise Value to Revenue (EV/Rev) |
3.52 |
2.31 |
4.44 |
Enterprise Value to EBITDA (EV/EBITDA) |
8.45 |
5.73 |
12.33 |
Enterprise Value to EBIT (EV/EBIT) |
11.65 |
7.33 |
15.46 |
Enterprise Value to NOPAT (EV/NOPAT) |
14.53 |
9.20 |
18.35 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
2.33 |
4.27 |
12.65 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
3.46 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
1.02 |
0.54 |
1.21 |
Long-Term Debt to Equity |
0.21 |
0.19 |
0.17 |
Financial Leverage |
0.68 |
0.76 |
0.89 |
Leverage Ratio |
10.27 |
11.30 |
10.71 |
Compound Leverage Factor |
10.27 |
11.30 |
10.71 |
Debt to Total Capital |
50.46% |
35.14% |
54.72% |
Short-Term Debt to Total Capital |
39.88% |
22.99% |
47.13% |
Long-Term Debt to Total Capital |
10.58% |
12.15% |
7.59% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
49.54% |
64.86% |
45.28% |
Debt to EBITDA |
4.63 |
2.47 |
6.85 |
Net Debt to EBITDA |
3.72 |
0.92 |
6.21 |
Long-Term Debt to EBITDA |
0.97 |
0.86 |
0.95 |
Debt to NOPAT |
7.96 |
3.97 |
10.20 |
Net Debt to NOPAT |
6.40 |
1.48 |
9.25 |
Long-Term Debt to NOPAT |
1.67 |
1.37 |
1.42 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-99 |
96 |
-210 |
Operating Cash Flow to CapEx |
11,921.21% |
4,648.06% |
3,108.44% |
Free Cash Flow to Firm to Interest Expense |
-6.84 |
2.19 |
-3.41 |
Operating Cash Flow to Interest Expense |
12.83 |
1.77 |
0.82 |
Operating Cash Flow Less CapEx to Interest Expense |
12.72 |
1.73 |
0.80 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.05 |
0.05 |
0.05 |
Fixed Asset Turnover |
4.73 |
5.16 |
4.80 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
468 |
408 |
653 |
Invested Capital Turnover |
0.30 |
0.33 |
0.27 |
Increase / (Decrease) in Invested Capital |
128 |
-60 |
245 |
Enterprise Value (EV) |
431 |
332 |
643 |
Market Capitalization |
241 |
278 |
319 |
Book Value per Share |
$30.07 |
$33.92 |
$37.84 |
Tangible Book Value per Share |
$29.34 |
$31.23 |
$35.62 |
Total Capital |
468 |
408 |
653 |
Total Debt |
236 |
143 |
357 |
Total Long-Term Debt |
49 |
50 |
50 |
Net Debt |
190 |
53 |
324 |
Capital Expenditures (CapEx) |
1.55 |
1.67 |
1.64 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
236 |
143 |
357 |
Total Depreciation and Amortization (D&A) |
14 |
13 |
11 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$3.75 |
$4.63 |
$4.48 |
Adjusted Weighted Average Basic Shares Outstanding |
7.74M |
7.81M |
7.76M |
Adjusted Diluted Earnings per Share |
$3.70 |
$4.56 |
$4.36 |
Adjusted Weighted Average Diluted Shares Outstanding |
7.74M |
7.81M |
7.76M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
7.74M |
7.81M |
7.76M |
Normalized Net Operating Profit after Tax (NOPAT) |
30 |
37 |
35 |
Normalized NOPAT Margin |
24.81% |
25.88% |
24.19% |
Pre Tax Income Margin |
30.22% |
31.48% |
28.74% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.57 |
1.03 |
0.67 |
NOPAT to Interest Expense |
2.06 |
0.82 |
0.57 |
EBIT Less CapEx to Interest Expense |
2.46 |
0.99 |
0.65 |
NOPAT Less CapEx to Interest Expense |
1.95 |
0.78 |
0.54 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
23.93% |
21.54% |
23.60% |
Augmented Payout Ratio |
76.64% |
22.15% |
30.76% |
Quarterly Metrics And Ratios for FS Bancorp
This table displays calculated financial ratios and metrics derived from FS Bancorp's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
2.11% |
7.95% |
25.47% |
25.10% |
12.33% |
8.83% |
-1.18% |
-0.32% |
4.48% |
-0.52% |
EBITDA Growth |
|
-3.32% |
-7.48% |
6.50% |
22.70% |
9.92% |
16.15% |
-1.79% |
-0.36% |
-18.47% |
-18.07% |
EBIT Growth |
|
-3.49% |
-10.23% |
20.75% |
38.40% |
7.79% |
26.27% |
2.73% |
-1.13% |
-14.07% |
-18.43% |
NOPAT Growth |
|
1.52% |
-11.87% |
19.53% |
36.08% |
5.85% |
28.21% |
2.25% |
-1.72% |
14.89% |
-24.46% |
Net Income Growth |
|
1.52% |
-11.87% |
19.53% |
36.08% |
5.85% |
28.21% |
2.25% |
-1.72% |
14.89% |
-24.46% |
EPS Growth |
|
10.20% |
-8.41% |
25.30% |
39.76% |
4.63% |
25.51% |
1.92% |
-2.59% |
14.16% |
-28.46% |
Operating Cash Flow Growth |
|
33.96% |
120.92% |
-81.14% |
-23.67% |
-34.59% |
-39.70% |
-98.50% |
-57.38% |
-102.75% |
225.14% |
Free Cash Flow Firm Growth |
|
-258.25% |
-285.49% |
-37.17% |
-1,337.33% |
135.63% |
157.78% |
-761.49% |
59.18% |
-203.29% |
-441.51% |
Invested Capital Growth |
|
70.29% |
37.79% |
-8.14% |
49.73% |
-12.22% |
-12.81% |
83.82% |
14.72% |
19.00% |
60.18% |
Revenue Q/Q Growth |
|
9.02% |
4.07% |
8.74% |
1.40% |
-2.11% |
0.83% |
-1.26% |
2.29% |
2.60% |
-4.00% |
EBITDA Q/Q Growth |
|
15.07% |
-2.46% |
3.84% |
5.28% |
3.09% |
3.06% |
-12.19% |
6.81% |
-15.65% |
3.56% |
EBIT Q/Q Growth |
|
28.59% |
-10.21% |
7.16% |
11.86% |
0.15% |
5.17% |
-12.81% |
7.66% |
-12.96% |
-0.15% |
NOPAT Q/Q Growth |
|
26.26% |
-9.88% |
7.74% |
11.01% |
-1.79% |
9.15% |
-14.07% |
6.69% |
14.81% |
-28.23% |
Net Income Q/Q Growth |
|
26.26% |
-9.88% |
7.74% |
11.01% |
-1.79% |
9.15% |
-14.07% |
6.69% |
14.81% |
-28.23% |
EPS Q/Q Growth |
|
30.12% |
-9.26% |
6.12% |
11.54% |
-2.59% |
8.85% |
-13.82% |
6.60% |
14.16% |
-31.78% |
Operating Cash Flow Q/Q Growth |
|
12.72% |
-40.10% |
-11.84% |
28.23% |
-3.41% |
-44.77% |
-97.81% |
3,544.04% |
-106.23% |
6,631.16% |
Free Cash Flow Firm Q/Q Growth |
|
-1,849.15% |
36.51% |
125.09% |
-562.99% |
148.32% |
2.95% |
-387.21% |
71.43% |
-22.25% |
-240.38% |
Invested Capital Q/Q Growth |
|
60.22% |
-2.73% |
-46.79% |
80.57% |
-6.07% |
-3.39% |
12.18% |
12.69% |
-2.56% |
30.04% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
42.37% |
39.71% |
37.92% |
39.37% |
41.46% |
42.38% |
37.69% |
39.36% |
32.36% |
34.90% |
EBIT Margin |
|
33.59% |
28.98% |
28.56% |
31.51% |
32.24% |
33.63% |
29.70% |
31.25% |
26.51% |
27.58% |
Profit (Net Income) Margin |
|
26.67% |
23.10% |
22.89% |
25.05% |
25.14% |
27.21% |
23.68% |
24.70% |
27.64% |
20.66% |
Tax Burden Percent |
|
79.40% |
79.69% |
80.12% |
79.51% |
77.97% |
80.92% |
79.75% |
79.04% |
104.26% |
74.94% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
20.60% |
20.31% |
19.88% |
20.49% |
22.03% |
19.08% |
20.25% |
20.96% |
-4.26% |
25.06% |
Return on Invested Capital (ROIC) |
|
8.39% |
7.01% |
11.42% |
9.16% |
7.84% |
8.94% |
9.61% |
7.34% |
8.66% |
5.64% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
8.39% |
7.01% |
11.42% |
9.16% |
7.84% |
8.94% |
9.61% |
7.34% |
8.66% |
5.64% |
Return on Net Nonoperating Assets (RNNOA) |
|
5.50% |
4.79% |
1.00% |
5.37% |
7.19% |
6.83% |
3.45% |
5.92% |
6.18% |
5.04% |
Return on Equity (ROE) |
|
13.88% |
11.80% |
12.42% |
14.52% |
15.03% |
15.77% |
13.06% |
13.25% |
14.84% |
10.67% |
Cash Return on Invested Capital (CROIC) |
|
-43.97% |
-24.43% |
20.41% |
-30.91% |
20.52% |
21.93% |
-48.80% |
-6.24% |
-9.26% |
-39.66% |
Operating Return on Assets (OROA) |
|
1.65% |
1.44% |
1.46% |
1.63% |
1.63% |
1.73% |
1.48% |
1.53% |
1.30% |
1.33% |
Return on Assets (ROA) |
|
1.31% |
1.15% |
1.17% |
1.29% |
1.27% |
1.40% |
1.18% |
1.21% |
1.36% |
1.00% |
Return on Common Equity (ROCE) |
|
13.88% |
11.80% |
12.42% |
14.52% |
15.03% |
15.77% |
13.06% |
13.25% |
14.84% |
10.67% |
Return on Equity Simple (ROE_SIMPLE) |
|
13.91% |
0.00% |
12.82% |
13.37% |
13.53% |
0.00% |
13.04% |
12.70% |
12.95% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
8.46 |
7.62 |
8.21 |
9.12 |
8.95 |
9.77 |
8.40 |
8.96 |
10 |
7.38 |
NOPAT Margin |
|
26.67% |
23.10% |
22.89% |
25.05% |
25.14% |
27.21% |
23.68% |
24.70% |
27.64% |
20.66% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
45.77% |
47.90% |
47.77% |
47.24% |
48.81% |
45.91% |
49.21% |
48.20% |
48.86% |
51.99% |
Operating Expenses to Revenue |
|
60.99% |
66.21% |
65.56% |
66.52% |
66.22% |
62.47% |
66.36% |
65.78% |
69.42% |
68.16% |
Earnings before Interest and Taxes (EBIT) |
|
11 |
9.56 |
10 |
11 |
11 |
12 |
11 |
11 |
9.87 |
9.85 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
13 |
13 |
14 |
14 |
15 |
15 |
13 |
14 |
12 |
12 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.90 |
1.04 |
0.92 |
0.90 |
0.88 |
1.05 |
0.96 |
0.99 |
1.19 |
1.08 |
Price to Tangible Book Value (P/TBV) |
|
0.92 |
1.07 |
1.02 |
0.99 |
0.96 |
1.14 |
1.03 |
1.07 |
1.27 |
1.14 |
Price to Revenue (P/Rev) |
|
1.65 |
1.97 |
1.71 |
1.63 |
1.56 |
1.93 |
1.86 |
1.97 |
2.37 |
2.20 |
Price to Earnings (P/E) |
|
6.46 |
8.12 |
7.14 |
6.70 |
6.50 |
7.72 |
7.37 |
7.82 |
9.16 |
9.10 |
Dividend Yield |
|
2.93% |
2.56% |
2.97% |
3.11% |
3.34% |
2.80% |
2.95% |
2.82% |
2.35% |
2.60% |
Earnings Yield |
|
15.49% |
12.31% |
14.00% |
14.92% |
15.38% |
12.96% |
13.58% |
12.78% |
10.91% |
10.99% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.61 |
0.92 |
0.66 |
0.62 |
0.70 |
0.81 |
0.83 |
0.91 |
1.00 |
0.98 |
Enterprise Value to Revenue (EV/Rev) |
|
2.45 |
3.52 |
1.28 |
2.02 |
2.08 |
2.31 |
2.64 |
3.27 |
3.48 |
4.44 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
5.64 |
8.45 |
3.19 |
5.07 |
5.26 |
5.73 |
6.55 |
8.12 |
9.18 |
12.33 |
Enterprise Value to EBIT (EV/EBIT) |
|
7.71 |
11.65 |
4.27 |
6.59 |
6.86 |
7.33 |
8.29 |
10.30 |
11.50 |
15.46 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
9.57 |
14.53 |
5.34 |
8.27 |
8.66 |
9.20 |
10.43 |
12.97 |
13.47 |
18.35 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
1.69 |
2.33 |
1.57 |
2.82 |
3.41 |
4.27 |
6.35 |
10.20 |
22.52 |
12.65 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
3.12 |
0.00 |
3.17 |
3.46 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.18 |
1.02 |
0.03 |
0.80 |
0.68 |
0.54 |
0.65 |
0.81 |
0.74 |
1.21 |
Long-Term Debt to Equity |
|
0.00 |
0.21 |
0.03 |
0.00 |
0.20 |
0.19 |
0.18 |
0.17 |
0.17 |
0.17 |
Financial Leverage |
|
0.66 |
0.68 |
0.09 |
0.59 |
0.92 |
0.76 |
0.36 |
0.81 |
0.71 |
0.89 |
Leverage Ratio |
|
10.59 |
10.27 |
10.58 |
11.23 |
11.83 |
11.30 |
11.07 |
10.95 |
10.92 |
10.71 |
Compound Leverage Factor |
|
10.59 |
10.27 |
10.58 |
11.23 |
11.83 |
11.30 |
11.07 |
10.95 |
10.92 |
10.71 |
Debt to Total Capital |
|
54.13% |
50.46% |
2.82% |
44.38% |
40.61% |
35.14% |
39.24% |
44.90% |
42.48% |
54.72% |
Short-Term Debt to Total Capital |
|
54.25% |
39.88% |
0.00% |
44.49% |
28.88% |
22.99% |
28.41% |
35.29% |
32.61% |
47.13% |
Long-Term Debt to Total Capital |
|
-0.12% |
10.58% |
2.82% |
-0.11% |
11.73% |
12.15% |
10.83% |
9.61% |
9.87% |
7.59% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
45.87% |
49.54% |
97.18% |
55.62% |
59.39% |
64.86% |
60.76% |
55.10% |
57.52% |
45.28% |
Debt to EBITDA |
|
5.00 |
4.63 |
0.14 |
3.66 |
3.07 |
2.47 |
3.11 |
4.02 |
3.89 |
6.85 |
Net Debt to EBITDA |
|
1.84 |
3.72 |
-1.08 |
0.96 |
1.31 |
0.92 |
1.92 |
3.22 |
2.93 |
6.21 |
Long-Term Debt to EBITDA |
|
-0.01 |
0.97 |
0.14 |
-0.01 |
0.89 |
0.86 |
0.86 |
0.86 |
0.90 |
0.95 |
Debt to NOPAT |
|
8.48 |
7.96 |
0.23 |
5.97 |
5.06 |
3.97 |
4.95 |
6.41 |
5.70 |
10.20 |
Net Debt to NOPAT |
|
3.11 |
6.40 |
-1.80 |
1.57 |
2.16 |
1.48 |
3.06 |
5.15 |
4.30 |
9.25 |
Long-Term Debt to NOPAT |
|
-0.02 |
1.67 |
0.23 |
-0.02 |
1.46 |
1.37 |
1.37 |
1.37 |
1.33 |
1.42 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-190 |
-121 |
30 |
-140 |
68 |
70 |
-200 |
-57 |
-70 |
-238 |
Operating Cash Flow to CapEx |
|
11,896.60% |
2,447.66% |
1,936.16% |
14,896.23% |
8,112.77% |
4,577.90% |
77.59% |
3,670.55% |
-101.29% |
10,754.19% |
Free Cash Flow to Firm to Interest Expense |
|
-50.31 |
-18.51 |
3.81 |
-15.04 |
5.36 |
4.98 |
-13.77 |
-3.68 |
-4.43 |
-15.01 |
Operating Cash Flow to Interest Expense |
|
9.26 |
3.22 |
2.32 |
2.54 |
1.81 |
0.90 |
0.02 |
0.65 |
-0.04 |
2.59 |
Operating Cash Flow Less CapEx to Interest Expense |
|
9.18 |
3.08 |
2.20 |
2.53 |
1.79 |
0.88 |
-0.01 |
0.63 |
-0.08 |
2.57 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
Fixed Asset Turnover |
|
4.55 |
4.73 |
4.48 |
4.80 |
5.00 |
5.16 |
4.62 |
4.67 |
4.75 |
4.80 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
481 |
468 |
249 |
449 |
422 |
408 |
457 |
515 |
502 |
653 |
Invested Capital Turnover |
|
0.31 |
0.30 |
0.50 |
0.37 |
0.31 |
0.33 |
0.41 |
0.30 |
0.31 |
0.27 |
Increase / (Decrease) in Invested Capital |
|
198 |
128 |
-22 |
149 |
-59 |
-60 |
209 |
66 |
80 |
245 |
Enterprise Value (EV) |
|
294 |
431 |
165 |
276 |
294 |
332 |
378 |
468 |
504 |
643 |
Market Capitalization |
|
198 |
241 |
221 |
224 |
220 |
278 |
267 |
282 |
343 |
319 |
Book Value per Share |
|
$28.55 |
$30.07 |
$31.25 |
$32.28 |
$32.33 |
$33.92 |
$35.61 |
$36.43 |
$37.29 |
$37.84 |
Tangible Book Value per Share |
|
$27.79 |
$29.34 |
$28.16 |
$29.32 |
$29.50 |
$31.23 |
$33.04 |
$33.99 |
$34.94 |
$35.62 |
Total Capital |
|
481 |
468 |
249 |
449 |
422 |
408 |
457 |
515 |
502 |
653 |
Total Debt |
|
260 |
236 |
7.01 |
199 |
171 |
143 |
179 |
231 |
213 |
357 |
Total Long-Term Debt |
|
-0.56 |
49 |
7.01 |
-0.51 |
50 |
50 |
50 |
50 |
50 |
50 |
Net Debt |
|
96 |
190 |
-56 |
53 |
73 |
53 |
111 |
186 |
161 |
324 |
Capital Expenditures (CapEx) |
|
0.29 |
0.86 |
0.95 |
0.16 |
0.28 |
0.28 |
0.36 |
0.28 |
0.62 |
0.38 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
260 |
236 |
7.01 |
199 |
171 |
143 |
179 |
231 |
213 |
357 |
Total Depreciation and Amortization (D&A) |
|
2.78 |
3.54 |
3.36 |
2.86 |
3.29 |
3.14 |
2.84 |
2.94 |
2.17 |
2.62 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.09 |
$0.98 |
$1.06 |
$1.17 |
$1.15 |
$1.25 |
$1.07 |
$1.15 |
$1.32 |
$0.94 |
Adjusted Weighted Average Basic Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Adjusted Diluted Earnings per Share |
|
$1.08 |
$0.98 |
$1.04 |
$1.16 |
$1.13 |
$1.23 |
$1.06 |
$1.13 |
$1.29 |
$0.88 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.98 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
7.70M |
7.74M |
7.74M |
7.75M |
7.80M |
7.81M |
7.80M |
7.75M |
7.82M |
7.76M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
8.46 |
8.34 |
9.42 |
9.16 |
8.95 |
9.81 |
8.47 |
8.92 |
7.26 |
6.95 |
Normalized NOPAT Margin |
|
26.67% |
25.27% |
26.24% |
25.18% |
25.14% |
27.32% |
23.89% |
24.58% |
19.51% |
19.44% |
Pre Tax Income Margin |
|
33.59% |
28.98% |
28.56% |
31.51% |
32.24% |
33.63% |
29.70% |
31.25% |
26.51% |
27.58% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.82 |
1.47 |
1.29 |
1.23 |
0.91 |
0.86 |
0.72 |
0.73 |
0.62 |
0.62 |
NOPAT to Interest Expense |
|
2.24 |
1.17 |
1.03 |
0.98 |
0.71 |
0.70 |
0.58 |
0.58 |
0.65 |
0.47 |
EBIT Less CapEx to Interest Expense |
|
2.74 |
1.34 |
1.17 |
1.21 |
0.89 |
0.84 |
0.70 |
0.71 |
0.59 |
0.60 |
NOPAT Less CapEx to Interest Expense |
|
2.16 |
1.04 |
0.91 |
0.96 |
0.69 |
0.68 |
0.55 |
0.56 |
0.61 |
0.44 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
22.08% |
23.93% |
23.87% |
20.85% |
21.70% |
21.54% |
21.69% |
22.03% |
21.66% |
23.60% |
Augmented Payout Ratio |
|
77.32% |
76.64% |
23.87% |
26.03% |
21.70% |
22.15% |
21.69% |
29.19% |
28.96% |
30.76% |
Key Financial Trends
FS Bancorp, Inc. (NASDAQ:FSBW) has demonstrated a consistent financial performance over the past four years, with quarterly data through Q4 2024 providing insight into trends in revenue, expenses, net income, and cash flows. Below are the key trends and impactful financial highlights from our analysis.
- Net Interest Income has generally increased from about $29.3 million in Q4 2022 to roughly $31.1 million in Q4 2024, indicating stable or improving core banking earnings.
- Total Non-Interest Income increased over the years, reaching $4.6 million in Q4 2024 from $3.7 million in Q4 2022, reflecting diversification of revenue sources beyond interest.
- Consolidated Net Income for Q4 2024 was $7.38 million, showing growth from $7.62 million in Q4 2022. Earnings per Share (EPS) improved from $0.98 to $0.94 (basic) and $0.88 (diluted) in Q4 2024, with slight variations due to share count fluctuations.
- Provision for Credit Losses have been relatively stable, around $1.5 million in recent quarters, suggesting controlled credit risk environment.
- Operating cash flow remains strong with $41.1 million net cash from continuing operating activities in Q4 2024, supporting the company’s liquidity and operational health.
- The company consistently invests in property, plant, and equipment, with capital expenditures around $0.3 million per quarter, indicating steady reinvestment in infrastructure.
- Trading Account Securities represent a significant asset, growing from $219 million in Q2 2023 to $236 million by Q3 2024, signaling active management of investment portfolios.
- Deposits have fluctuated, with notable quarters exhibiting decreases (Q4 2024 saw a net decline of $87.9 million), which could reflect varying client behavior or competitive pressures on deposit gathering.
- Long-Term Debt interest expense increased from around $2.5 million in Q4 2022 to about $2.3 million in Q4 2024, contributing to overall interest expense rising to $15.86 million in Q4 2024.
- Total Non-Interest Expense rose slightly to approximately $24.35 million in Q4 2024 compared to $21.8 million in Q4 2022, with increases in salaries and employee benefits potentially impacting profitability.
Summary: FS Bancorp has experienced steady growth in net interest income and diversified income streams, contributing to stable net income over multiple years. Strong operating cash flows enhance the company’s financial flexibility. However, rising non-interest expenses and debt-related costs are areas to watch as they could pressure margins if not controlled. The company's balance sheet remains strong with substantial trading securities and equity base supporting ongoing operations.
09/16/25 01:37 AM ETAI Generated. May Contain Errors.