MOUNTLAKE TERRACE, Wash. ― January 17, 2023 ― FS Bancorp, Inc. (Nasdaq: FSBW, ) the parent company of 1st Security Bank of Washington (“1st Security Bank”) announced January 17, 2023 that all required regulatory approvals had been received for 1st Security to purchase seven branches from Columbia Bank, a subsidiary of Columbia Banking System, in Oregon and Washington
The completion of the transaction remains subject to customary closing conditions and is expected to occur 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.”
1st Security Bank will acquire the following branches:
- 506 Southwest Coast Highway, Newport, Oregon
- 425 Northwest Hemlock, Waldport, Oregon
- 98 South Oregon Street, Ontario, Oregon
- 715 Laneda Avenue, Manzanita, Oregon
- 1806 Third Street, Tillamook, Oregon
- 202 West Main Street, Goldendale, Washington
- 390 Northeast Tohomish Street, White Salmon, Washington
About 1st Security Bank
1st Security Bank of Washington, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty branches, and mortgage services at each branch as well as lending offices in the greater Puget Sound area, Vancouver, and the Tri-Cities. FS Bancorp, Inc., a Washington corporation, (NASDAQ: FSBW) is the holding company for the Bank. 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.
