# FS Bancorp

FS Bancorp is an Asset Manager based in United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** United States
- **Region:** North America
- **Assets under management:** Undisclosed
- **Website:** https://fsbancorp.com

## Regulatory record

- **Reports private funds:** No

## About

FS Bancorp operates as the holding company for 1st Security Bank of Washington, a community bank serving the Puget Sound region. The bank gathers deposits and writes loans, with no separate family office or asset management division publicly identified. The structure is a conventional publicly traded bank holding company, not a private investment vehicle. The loan book leans heavily into mortgage lending and construction finance. The bank's earnings are driven by net interest margin on portfolio loans, not by private equity commitments or venture allocations. There is no publicly disclosed fund structure, co-investment activity, or alternative asset program. The geographic footprint is concentrated in Western Washington, particularly around King and Snohomish counties, with a smaller presence in adjacent markets. As a community bank, FS Bancorp's professional headcount and operational scale remain modest compared to regional or national banks. The company does not operate adjacent investment vehicles, philanthropic foundations with separate management, or exclusive co-investor clubs that would be relevant to institutional allocators researching family offices. FS Bancorp's structural differentiator is not an investment thesis but a regulatory charter: it is a Federal Reserve–supervised bank holding company subject to public disclosure obligations and deposit insurance requirements. It deploys depositor capital as loans, not as equity commitments—making it fundamentally unlike a family office or an allocator.

## Questions

### What is FS Bancorp's primary line of business?

The company's primary business is consumer and commercial banking through its subsidiary 1st Security Bank of Washington. Its loan portfolio focuses on one-to-four-family residential construction, commercial real estate, and home equity lending in the Puget Sound area.

### Does FS Bancorp maintain a private equity or venture capital allocation program?

There is no public evidence of a dedicated private equity or venture capital allocation program within FS Bancorp or 1st Security Bank. The company's investment activities derive from its bank-level portfolio, which is composed almost entirely of loans and investment securities held for regulatory liquidity purposes.

### How is FS Bancorp regulated?

As a bank holding company and the parent of a Washington State-chartered commercial bank, FS Bancorp is subject to supervision by the Federal Reserve Board. 1st Security Bank is examined by the FDIC and the Washington State Department of Financial Institutions.

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Last updated: 2026-06-03T20:00:00.000Z

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