FS Bancorp, Inc. has announced the appointment of Matthew D. Mullet to its Board of Directors, effective October 22, 2026. This significant leadership change is crucial for the company as it continues to expand its operations and enhance its governance.

FS Bancorp, Inc. is the holding company for 1st Security Bank of Washington, classified under the SIC code 6036, which pertains to savings institutions not federally chartered. The company trades on the Nasdaq under the ticker FSBW. As of October 23, 2026, FS Bancorp has been actively filing various reports with the SEC, including recent 8-K filings.

According to the recent SEC filing, Mullet has been with FS Bancorp since July 2011, initially serving as Chief Financial Officer before being promoted to President in July 2024. He became the Chief Executive Officer of the Bank in September 2025 and of the Company in June 2026. His extensive background in banking and finance positions him well to contribute to the Board's strategic direction.

“We are pleased to welcome Matt to our Board of Directors,” said Ted A. Leech, Chairman of the Board. “His extensive leadership experience across all areas of banking along with his deep understanding of financial services, loan and deposit strategies, regulatory expertise, operations, governance and risk management, will be invaluable as the Company continues to expand and strengthen the value we deliver to our shareholders, customers, employees and communities.”

This appointment may affect various stakeholders, including shareholders, customers, and employees of FS Bancorp and 1st Security Bank of Washington. Mullet's experience and connections within the banking community, including his roles with the Washington Bankers Association and the Federal Reserve Bank of San Francisco, could enhance the company's reputation and operational effectiveness.

Looking ahead, FS Bancorp has not specified any immediate next steps following Mullet's appointment. However, the company is likely to focus on leveraging his expertise to navigate competitive pressures and enhance its service offerings in the savings institutions sector.