FS Bancorp appoints Matthew D. Mullet to board of directors

FS Bancorp, Inc. (NASDAQ: FSBW) has appointed Matthew D. Mullet to its board of directors, a move ratified by the board following a proposal from the Governance Nominating and Culture Committee. The appointment, effective October 22, 2026, places Mullet on the boards of both the holding company and its subsidiary, 1st Security Bank of Washington.

Ted A. Leech, Chairman of the Board, stated that Mullet's leadership experience across banking, financial services, and regulatory expertise would be valuable as the company expands. Leech noted that Mullet's understanding of loan and deposit strategies, operations, governance, and risk management aligns with the company's goals for shareholders, customers, employees, and communities.

Mullet has served as President of FS Bancorp and 1st Security Bank of Washington since July 2024. His executive roles expanded when he was appointed Chief Executive Officer of the Bank in September 2025 and subsequently became Chief Executive Officer of the Company in June 2026. He originally joined the organization in July 2011 and was named Chief Financial Officer in September 2011.

Mullet entered the banking sector in June 2000 as a financial examiner for the Washington State Department of Financial Institutions' Division of Banks. He currently serves as a Board member of the Washington Bankers Association and the Seattle Branch of the Federal Reserve Bank of San Francisco. Additionally, he sits on the Government Relations Committee for the Washington Bankers Association.

FS Bancorp is the holding company for 1st Security Bank of Washington, a Washington corporation that provides loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon. The Bank operates through 32 bank branches, one headquarter office, and loan production offices in suburban communities within the greater Puget Sound area, the Kennewick-Pasco-Richland metropolitan area (Tri-Cities), and the Portland, Oregon market including Vancouver, Washington. The Bank also services home mortgage customers across the Northwest, focusing on Washington State markets including Puget Sound, Tri-Cities, and Vancouver.