FS Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2017. For the quarter, the company reported total interest and dividend income of $12,659,000 compared to $10,256,000 a year ago. Net interest income increased 22.85 to $11,286,000 compared to $9,192,000 a year ago, primarily due to a $2.2 million, or 22.7% increase in loans receivable interest income. Net interest income after provision for loan losses was $10,986,000 compared to $8,592,000 a year ago. Income before provision for income taxes was $5,172,000 compared to $3,951,000 a year ago. Net income was $3,678,000 compared to $2,546,000 a year ago. Diluted earnings per share were $0.98 compared to $0.86 a year ago. Return on assets was 1.48% compared to 1.23% a year ago. Return on equity was 12.25% compared to 12.92% a year ago. Book value per share using common shares outstanding was $34.47 against $28.32 a year ago. Tangible book value per share using common shares outstanding was $33.44 against $26.91 a year ago.

For the full year, the company reported total interest and dividend income of $46,181,000 compared to $38,020,000 a year ago. Net interest income increased 21.8% to $41,248,000 compared to $33,857,000 a year ago, primarily due to a $7.7 million, or 21.5% increase in loans receivable interest income. Net interest income after provision for loan losses was $40,498,000 compared to $31,457,000 a year ago. Income before provision for income taxes was $20,579,000 compared to $16,103,000 a year ago. Net income was $14,085,000 compared to $10,499,000 a year ago. Diluted earnings per share were $4.28 compared to $3.51 a year ago. Return on assets was 1.53% compared to 1.31% a year ago. Return on equity was 14.80% compared to 13.84% a year ago.

For the quarter, net charge-offs totaled $143,000 compared to net recoveries of $25,000 during the three months ended December 31, 2016.