---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-26-000060"
form_type: "8-K"
ticker: "FSBW"
cik: "0001530249"
company_name: "FS Bancorp, Inc."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:33:51.899419+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FS Bancorp to acquire Pacific West Bancorp for $34.6M in stock/cash

## Summary
- Consideration: 430,176 FS Bancorp shares + $16.8M cash; valued at $12.52 per Pacific West share.
- Deal expected to be immediately accretive to EPS; 7.4% accretion projected for 2027.
- TBV dilution at close of 2.2% with estimated earnback period of 2.4 years.
- Pro forma combined company would have $3.6B in assets, $3.0B loans, $3.0B deposits, 31 branches.
- Boards unanimously approved; closing expected Q3 2026 subject to regulatory and shareholder approvals.

## SEC filing metadata
- accession: 0000939057-26-000060
- form_type: 8-K
- ticker: FSBW
- cik: 0001530249
- company_name: FS Bancorp, Inc.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1530249/000093905726000060/0000939057-26-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1530249/000093905726000060/fsbanc8k22526.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-26-000060
- JSON: https://secwatch.observer/filing/0000939057-26-000060.json
- Plain text: https://secwatch.observer/filing/0000939057-26-000060.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.