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Section 1: 8-K (FORM 8-K)

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): October 8, 2019

FS BANCORP, INC.
(Exact name of registrant as specified in its charter)

Washington
001-35589
45-4585178
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

6920 220th Street SW, Suite 200,
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 registrant under any of the following provisions.
 
[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
           CFR 240.14d-2(b))
 
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (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 $.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 8.01
Other Events

On October 8, 2019, FS Bancorp, Inc. (the “Company”) announced that the Company’s Board of Directors declared a regular quarterly cash dividend of $0.20 per common share, payable on November 15, 2019 to holders of record as of November 1, 2019.  The $0.20 cash dividend represents an increase of 33% from the $0.15 cash dividend paid during first, second and third quarter of 2019.

For more information regarding the quarterly cash dividend, please see to Exhibit 99.1 which is attached to this Form 8-K and incorporated herein by reference.

Item 9.01  Financial Statements and Exhibits

    (d)              Exhibits

The following exhibit is being filed herewith and this list shall constitute the exhibit index:

99.1 Press Release of FS Bancorp, Inc. dated October 8, 2019.




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: October 8, 2019
FS BANCORP, INC.
   
  /s/  Matthew D. Mullet
 
Matthew D. Mullet
 
Chief Financial Officer
 
(Principal Financial and Accounting Officer)



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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit 99.1


FS Bancorp, Inc. Increases Cash Dividend



MOUNTLAKE TERRACE, WA – October 8, 2019 – FS Bancorp, Inc. (NASDAQ:FSBW) (the “Company”), the holding company for 1st Security Bank of Washington, announced today that its Board of Directors declared a regular quarterly cash dividend of $0.20 per common share, payable on November 15, 2019 to holders of record as of November 1, 2019.  The $0.20 cash dividend represents an increase of 33% from the $0.15 cash dividend paid during first, second and third quarter of 2019.

Joe Adams, Chief Executive Officer of the Company said that “Our Board of Directors regularly reviews the Company’s dividend payout ratio and approved the increase based on our performance.”

About FS Bancorp

FS Bancorp, Inc., a Washington corporation, is the holding company for 1st Security Bank of Washington.  The Bank provides loan and deposit services to customers who are predominantly small- and middle-market businesses and individuals in Western Washington through its 21 bank branches, including nine branches from the Anchor Acquisition, one administrative office that accepts deposits, and seven loan production offices in various suburban communities in the greater Puget Sound area, and one loan production office in the market area of the Tri-Cities, Washington.  The Bank services home mortgage customers throughout Washington State with an emphasis in the Puget Sound and Tri-Cities home lending markets.

Forward-Looking Statements

This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our risk factors contained in FS Bancorp, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018.  Such forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company’s expectations of results or any change in events.

   
Contacts:
 
Joseph C. Adams,
 
Chief Executive Officer
 
Matthew D. Mullet,
 
Chief Financial Officer and Chief Operating Officer
 
(425) 771-5299
 
www.FSBWA.com
 


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