<SEC-DOCUMENT>0001957799-25-000183.txt : 20250820
<SEC-HEADER>0001957799-25-000183.hdr.sgml : 20250820
<ACCEPTANCE-DATETIME>20250820163323
ACCESSION NUMBER:		0001957799-25-000183
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250820
DATE AS OF CHANGE:		20250820

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FS Bancorp, Inc.
		CENTRAL INDEX KEY:			0001530249
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
		ORGANIZATION NAME:           	02 Finance
		EIN:				454585178
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-35589
		FILM NUMBER:		251237249

	BUSINESS ADDRESS:	
		STREET 1:		6920 220TH STREET SW
		CITY:			MOUNTLAKE TERRACE
		STATE:			WA
		ZIP:			98043
		BUSINESS PHONE:		425-771-5299

	MAIL ADDRESS:	
		STREET 1:		6920 220TH STREET SW
		CITY:			MOUNTLAKE TERRACE
		STATE:			WA
		ZIP:			98043

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adams Joseph C.
		CENTRAL INDEX KEY:			0001548094
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		C/O FS BANCORP, INC.
		STREET 2:		6920 220TH STREET SW
		CITY:			MOUNTLAKE TERRACE
		STATE:			WA
		ZIP:			98043
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001548094</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0001530249</issuerCik>
      <issuerName>FS Bancorp, Inc.</issuerName>
      <secFileNumber>001-35589</secFileNumber>
      <issuerAddress>
        <com:street1>6920 220TH STREET SW</com:street1>
        <com:city>MOUNTLAKE TERRACE</com:city>
        <com:stateOrCountry>WA</com:stateOrCountry>
        <com:zipCode>98043</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>425-771-5299</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Adams Joseph C.</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Wells Fargo Clearing Services</name>
        <address>
          <com:street1>1 North Jefferson Avenue</com:street1>
          <com:city>St. Louis</com:city>
          <com:stateOrCountry>MO</com:stateOrCountry>
          <com:zipCode>63103</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>4914</noOfUnitsSold>
      <aggregateMarketValue>197199.34</aggregateMarketValue>
      <noOfUnitsOutstanding>7596336</noOfUnitsOutstanding>
      <approxSaleDate>08/20/2025</approxSaleDate>
      <securitiesExchangeName>Nasdaq</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/15/2019</acquiredDate>
      <natureOfAcquisitionTransaction>Grant</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>913</amountOfSecuritiesAcquired>
      <paymentDate>08/15/2019</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/15/2020</acquiredDate>
      <natureOfAcquisitionTransaction>Grant</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1095</amountOfSecuritiesAcquired>
      <paymentDate>08/15/2020</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/15/2021</acquiredDate>
      <natureOfAcquisitionTransaction>Grant</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>913</amountOfSecuritiesAcquired>
      <paymentDate>08/15/2021</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/15/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Grant</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>856</amountOfSecuritiesAcquired>
      <paymentDate>08/15/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/15/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Grant</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>741</amountOfSecuritiesAcquired>
      <paymentDate>08/15/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/26/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Stock Options</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>14646</amountOfSecuritiesAcquired>
      <paymentDate>08/26/2024</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>common</securitiesClassTitle>
      <acquiredDate>08/11/2021</acquiredDate>
      <natureOfAcquisitionTransaction>Stock Options</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>18336</amountOfSecuritiesAcquired>
      <paymentDate>08/11/2021</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Joseph C Adams</name>
        <address>
          <com:street1>6920 220th Street SW</com:street1>
          <com:city>Mountlake Terrace</com:city>
          <com:stateOrCountry>WA</com:stateOrCountry>
          <com:zipCode>98043</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>FS Bancorp, Inc.</securitiesClassTitle>
      <saleDate>08/19/2025</saleDate>
      <amountOfSecuritiesSold>10864</amountOfSecuritiesSold>
      <grossProceeds>436257.43</grossProceeds>
    </securitiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>08/20/2025</noticeDate>
      <signature>Joseph C Adams</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
