1st Security Bank Announces Kelli Nielsen Promotions

MOUNTLAKE TERRACE, Wash., May 24, 2024 (GLOBE NEWSWIRE) — FS Bancorp, Inc. (NASDAQ: FSBW), the holding company of 1st Security Bank of Washington (“1st Security” or “Bank”) announced today promotions of Kelly Nielsen And Don Costa to the positions of Executive Vice President, Head of Retail Bank officer And Executive Vice President, Director of Real Estate Lendingrespectively.

1st Security Bank CEO Joe Adams announced the promotions at an all-employee meeting on Friday, May 17. In making the announcement, Adams said, “Kelli and Donn have provided tremendous leadership to their departments, helping us innovate the way we attract and retain customers. Their ideas are at the forefront of what we believe our customers’ experience should be in the communities we serve. Both Kelli and Donn promote our ambitious vision statement of Building a Truly Great Place to Work and Bank in everything they do.

Kelly Nielsen has worked in the financial services industry for more than three decades, bringing a wealth of retail banking and leadership experience to 1st Security Bank when she joined the bank in 2016. She was promoted to executive vice president of Retail Banking and Marketing in 2017. Kelli leads departments that focus on providing customer solutions and personalized service delivery. She is passionate about supporting the diverse Pacific Northwest communities in which the Bank operates.

In 2016, Kelli graduated from the American Bankers Association (ABA) Stonier Graduate School of Banking and holds a leadership certificate from the University of Pennsylvania, Wharton School of Business. She serves on the ABA Stonier Advisory Board and is a representative on the Diversity, Equity, and Inclusion (DEI) Committee. She is one of the founders of the Women of Stonier program. Committed to building relationships and helping others, Kelli serves on the Washington Bankers Association (WBA) Retail Banking Committee, Government Relations Committee, and WBA Professional Council.

Kelli has volunteered with Project IF, teaching financial literacy and serving as a mentor to residents at the Washington Corrections Center for Women.

Don Costa began his career in mortgage lending over thirty-five years ago. He joined 1st Security in 2011, after working as executive vice president of Sterling Savings Bank following its merger with Golf Savings Bank in 2009. Prior to the merger, Donn was president of Golf Savings Bank.

At 1st Security, Donn was instrumental in establishing the Bank’s mortgage division. He oversees real estate lending and has helped grow the Bank’s mortgage portfolio, expanding its products and services through the targeted hiring of production teams specialized in delivering exceptional customer experiences. His accomplishments include serving as president of the Washington Mortgage Lenders and the Seattle Mortgage Bankers, as well as serving on the

Fannie Mae and Freddie Mac Advisory Board. Donn’s goal for the 1st Security home loan team is not only to provide excellent customer service, but also to help people realize their dream of homeownership.

Donn supports the community by volunteering with Habitat for Humanity, building affordable housing for low-income people within the Bank’s footprint. An avid golfer, Donn enjoys spending time on the course with his friends and clients.

About the 1st Security Bank of Washington

1st Security Bank, Member FDIC and Equal Housing Lender, provides lending and deposit services to customers at its twenty-seven branches throughout Washington and Oregon, with mortgage services in each branch as well as offices lending in the Pacific Northwest. For more information, visit the 1st Security Bank website at www.fsbwa.com.

Note Concerning Before Look Declarations
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which may be identified by words such as “may”, “expected”, “anticipate”, “continue” or other words comparable. In addition, all statements other than statements of historical fact that address activities that 1st Security expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read FS Bancorp’s Securities and Exchange Commission reports, particularly its Annual Report on Form 10-K for the year ended December 31, 2023, for a meaningful cautionary note explaining why actual results may vary significantly from those anticipated by management. .

MEDIA CONTACT
Camberly Gilmartin
Assistant Vice President, Marketing Director
1st Security Bank
[email protected]

The photos accompanying this announcement are available on

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f1be083-0105-47a4-a3bb-c1f660a48949

https://www.globenewswire.com/NewsRoom/AttachmentNg/7e388d9d-6d4f-4ff8-a7b7-693f01fe36cc