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FS Bancorp, Inc. Reports Net Income For The Fourth Quarter Of $1.1 Million Or $0.36 Per Share And $5.3 Million Or $1.76 Per Share For The Year Ended December 31, 2012

Total deposits increased $14.1 million or 5.1% to $288.9 million at December 31, 2012, from $274.8 million at September 30, 2012.  Transaction accounts (noninterest and interest-bearing checking accounts) increased to $58.5 million as of December 31, 2012 from $56.3 million at September 30, 2012 and $39.9 million at December 31, 2011. Management continues to focus deposit growth efforts on relationship deposits with new and existing customers. 

             
DEPOSIT BREAKDOWN            
($ in thousands)            
  December 31, 2012 September 30, 2012 December 31, 2011
  Amount Percent Amount Percent Amount Percent
Interest-bearing checking $ 24,349 8.4% $ 24,914 9.1% $ 20,669  8.4%
Noninterest-bearing checking 34,165 11.8 31,434 11.4 19,254  7.8
Savings 11,812  4.1 12,146  4.4 11,567  4.7
Money market 114,245 39.5 108,643 39.5 99,022  40.2
Certificates of deposits less than $100,000 40,119 13.9 39,835 14.5 36,220  14.7
Certificates of deposits $100,000 to less than $250,000 43,810 15.2 33,283 12.1 36,912  15.0
Certificates of deposits $250,000 and over 20,449 7.1 24,569 9.0 22,774 9.2
Total $ 288,949 100.0% $ 274,824 100.0% $ 246,418 100.0%
             

Total equity increased $525,000 to $59.9 million at December 31, 2012 from $59.4 million at September 30, 2012. The increase in equity from the third quarter was predominantly a result of net income of $1.1 million and the scheduled payment of the Employee Stock Ownership Plan loan partially offset by a decline in the unrealized gain on securities available-for-sale included in accumulated other comprehensive income.  Book value per common share was $19.92 as of December 31, 2012.

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