8-K
FS Bancorp, Inc. (FSBW)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 19, 2024
FS BANCORP, INC.
(Exact name of registrant as specified in its charter)
| Washington | 001-35589 | 45-4585178 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation) | (Commission<br><br> <br>File Number) | (I.R.S. Employer<br><br> <br>Identification No.) |
| 6920 220th Street SW<br><br> <br>Mountlake Terrace, Washington | 98043 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (425) 771-5299
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the<br> registrant under any of the following provisions. |
|---|
| ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR<br> 230.425) |
| ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR<br> 240.14a-12) |
| ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act<br> (17 CFR 240.14d-2(b)) |
| ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act<br> (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | FSBW | The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 19, 2024, FS Bancorp, Inc. (the “Company”), the holding company for 1st Security Bank of Washington (the “Bank”) announced that the Bank had promoted Matthew D. Mullet to the position of President of the Company and the Bank. Mr. Mullet has held the title of Chief Financial Officer at both the Company and the Bank since September 2011 and will also continue in his position as Chief Financial Officer. Joseph C. Adams will remain as Chief Executive Officer for both the Company and the Bank.
Mr. Mullet, a cum laude graduate of University of Washington, began his banking career in June 2000 as a financial examiner with the Washington State, Department of Financial Institutions, Division of Banks. In 2004, Matthew accepted a position at Golf Savings Bank in Mountlake Terrace. He served in a variety of capacities at Golf and was appointed Chief Financial Officer in 2007. After the Golf Savings Bank merger with Sterling Savings Bank, he held the position of Senior Vice President of the Home Loan Division at Sterling until resigning in 2011 to join 1st Security Bank. He serves on the Government Relations Committee with Washington Bankers Association and volunteers with The IF Project, teaching Financial Literacy at the Washington Corrections Center for Women. He is a strong advocate for education and financial literacy.
Mr. Mullet does not have family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. Mr. Mullet is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K and have not entered into any material plan, contract, arrangement or amendment in connection with their respective appointment.
Item 9.01 Exhibits
| (d) | Exhibits |
|---|---|
| 99.1 | Press release of FS<br> Bancorp, Inc. dated July 19, 2024 |
| --- | --- |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 19, 2024 | FS BANCORP, INC. |
|---|---|
| /s/ Matthew D. Mullet | |
| Matthew D. Mullet | |
| Chief Financial Officer | |
| (Principal Financial and Accounting Officer) |
Exhibit 99.1
FS Bancorp, Inc. and 1st Security Bank Announces the Promotion of Matthew D. Mullet to President
Mountlake Terrace, WA, July 19, 2024 – FS Bancorp, Inc. (the “Company”) (NASDAQ: FSBW), the holding company for 1st Security Bank of Washington (“1st Security Bank” or “Bank”) announced today that it has named Matthew D. Mullet as President of both the Bank and the Company. Mr. Mullet has held the title of Chief Financial Officer at both the Bank and the Company since September 2011 and will also continue in his position as Chief Financial Officer. Joseph C. Adams will remain as Chief Executive Officer for both the Company and the Bank.
Mr. Adams stated, “We are pleased to announce Matt’s well-deserved promotion. He has been an integral part of our team and has a proven track record of leadership and a deep understanding of the banking landscape and all of the Bank’s operations. Matt and I look forward to continue working with our teammates to build a truly great place to work and bank.”
Mr. Mullet, a cum laude graduate of University of Washington, began his banking career in June 2000 as a financial examiner with the Washington State, Department of Financial Institutions, Division of Banks. In 2004, Matthew accepted a position at Golf Savings Bank in Mountlake Terrace. He served in a variety of capacities at Golf and was appointed Chief Financial Officer in 2007. After the Golf Savings Bank merger with Sterling Savings Bank, he held the position of Senior Vice President of the Home Loan Division at Sterling until resigning in 2011 to join 1st Security Bank. He serves on the Government Relations Committee with Washington Bankers Association and volunteers with The IF Project, teaching Financial Literacy at the Washington Corrections Center for Women. He is a strong advocate for education and financial literacy.
About 1st Security Bank of Washington
1st Security Bank provides loan and deposit services to customers at its twenty-seven branches, and one headquarters office that produces loans and accepts deposits, and loan production offices in various suburban communities in the greater Puget Sound area, the Kennewick-Pasco-Richland metropolitan area of Washington, also known as the Tri-Cities, and in Vancouver, Washington. The Bank services home mortgage customers throughout the Northwest predominantly in Washington State including the Puget Sound, Tri-Cities and Vancouver home lending markets.
Note Regarding Forward Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate", "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that 1st Security expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the Securities and Exchange Commission reports of FS Bancorp, particularly its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
Contacts:
Joseph C. Adams
Chief Executive Officer
Matthew D. Mullet
President and Chief Financial Officer
(425) 771-5299
www.FSBWA.com