GlobeNewswire Inc | Dec 20, 2021 08:00AM EST

December 20, 2021

MOUNTLAKE TERRACE, Wash., Dec. 20, 2021 (GLOBE NEWSWIRE) -- FS Bancorp, Inc (NASDAQ: FSBW), the holding company for 1st Security Bank (the Bank) has been named Best Community Bank in Bank Directors 2022 Ranking Banking Study. The Banks Leadership Team was also ranked #1 among all examined banks, regardless of size, for the strength of its leadership team.

The Ranking Banking Study identifies the best banks in the US based on quantitative metrics that examine factors including profitability and growth, as well as a qualitative analysis of innovation and leadership at the executive and board level.

We are incredibly honored to receive this recognition from Bank Director, a highly respected information resource in the banking industry, said Joe Adams, the Banks CEO. We sincerely thank our dedicated leaders and teammates for their collaborative Best Idea Wins approach to community banking.

ABOUT BANK DIRECTOR

An information resource to the financial community since 1991,Bank Director focuses on the strategic issues most fundamental to a banks CEO, senior leadership team, chairman and independent directors. Bank Director magazine, published by Bank Director, is one of the most widely read and highly respected magazines in the banking and financial services industry. Their flagship conference, Acquire or Be Acquired, is widely recognized as the premier M&A event for the financial services industry.

ABOUT FS BANCORP, INC.

FS Bancorp, Inc., the holding company for 1st Security Bank of Washington, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty-one branches, and mortgage services at each branch as well as lending offices in the greater Puget Sound area and the Tri-Cities. FS Bancorp, Inc., a Washington corporation, is the holding company for the Bank.

MEDIA CONTACTSDonna JacobsonVP, Director of Marketing, 1st Security BankP: 425.697.8086E: donna.jacobson@fsbwa.com

Joe AdamsCEO, 1st Security BankP: 425.697.8048E: joea@fsbwa.com

Matt MulletCFO, 1st Security BankP: 425.697.8026E: mattm@fsbwa.com