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FS Bancorp, Inc. Announces Completion of $50.0 Million Subordinated Notes Offering MOUNTLAKE TERRACE, WA / ACCESSWIRE / February 10, 2021 / FS Bancorp, Inc. (NASDAQ:FSBW) (the Company ), the holding company for 1st Security Bank of Washington (the Bank ), announced today the issuance of $50 million aggregate principal amount of fixed-to-floating rate subordinated notes (the Notes ) in a private placement transaction. The Company intends to use the net proceeds from the offering for general corporate purposes, including providing capital to support the organic growth of the Bank, potential share repurchase activities, and potential acquisition opportunities. The Notes have an initial fixed rate of 3.75% per annum, mature on February 15, 2031, and become callable at the Company s option beginning on February 15, 2026 ( call date ), subject to certain exceptions. Starting on the call date, the interest rate will reset quarterly to an interest rate per annum equal to the current thr

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