FS Bancorp announces CEO succession: Matt Mullet to lead 1st Security Bank as Joe Adams retires from bank CEO role.

FS Bancorp, Inc.

Joseph C. Adams will retire as CEO of 1st Security Bank effective September 1, 2025, but remain CEO of FS Bancorp until May 2026.
Matthew D. Mullet, who has served as President since July 2024, will become President and CEO of the Bank on September 1, 2025.
Mullet previously served as CFO of both the Company and the Bank from September 2011 until May 2025, when Phillip Whittington succeeded him.
The succession was carefully planned by the Board, according to Chairman Ted Leech, expressing confidence in Mullet's leadership.

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