1st Security Bank Announces the Receipt Of Regulatory Approvals for Seven Washington and Oregon Branch Purchases from Columbia State Bank
MOUNTLAKE TERRACE, Wash., 17 Jan 2023 (GLOBE NETWIRE) — FS Bancorp, Inc. FSBW), the parent company of 1st Security Bank of Washington (“1st Security Bank”), today announced that all required regulatory approvals had been received for 1st Security Bank to purchase seven branches from Columbia State Bank, a subsidiary of Columbia Banking System, in Washington and Oregon.
The transaction will close subject to the usual closing conditions. This is expected to take place on February 27, 2023.
Joe Adams, CEO of 1st Security Bank commented, “We have received the necessary regulatory approvals and the employees at 1st Security Bank and Columbia Bank are enthusiastically working to make this a smooth conversion for our customers.”
About 1st Security Bank
1st Security Bank of Washington is a member FDIC, Equal Housing Lender and offers loan and deposit services to its customers at its twenty branches. It also provides mortgage services at each branch, as well as lending offices throughout the Puget Sound, Vancouver, and Tri-Cities. The Bank’s holding company is FS Bancorp, Inc., a Washington-based corporation (NASDAQ: FSBW). The Bank was rated the number one Community Bank nationally in Bank Director’s 2022 “Ranking Banking” study, as well as the #1 Leadership Team of all banks studied nationally. 1st Security Bank is the top bank in its category in the Puget Sound Business Journals “Washington’s Best Workplaces” from 2015-2022 and named one of American Banker’s “Best Banks to Work For” from 2017-2021. For more information visit 1st Security Bank’s website at www.fsbwa.com.
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1st Security Bank Media Contacts |
1st Security Investor Contacts |
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Donna Jacobson |
Joe Adams |
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Important Note regarding Forward Looking Statements
This news release contains forward looking statements that are within the scope of the Private Securities Litigation Reform Act of 95. They can be identified with words such as “may”, “expected”, “anticipate”, and “continue” or other similar words. All statements, other than historical facts, that relate to activities that FS Bancorp anticipates or expects will occur in the future, are forward-looking statements. For important cautionary language about why actual results could differ from those predicted by management, readers are advised to consult the Securities and Exchange Commission reports for FS Bancorp, including its annual Form 10-K report for the fiscal year ending December 31, 2021.
