FS Bancorp completes Pacific West Bancorp acquisition; 430,176 shares + $16.8M cash

FS Bancorp, Inc.

Effective Aug 19, 2026, FS Bancorp closed merger with Pacific West Bancorp; Pacific West Bank merged into 1st Security Bank of Washington.
Aggregate consideration: 430,176 FS Bancorp common shares and $16,832,742 cash, with proration election rights for Pacific West shareholders.
Merger agreement dated Feb 25, 2026; expands FS Bancorp's Oregon presence via Pacific West Bank's Portland operations.
CEO Matthew D. Mullet cites shared relationship-banking values; Pacific West Chairman Ed Kawasaki endorsed the partnership.

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