Pacific Northwest

FS Bancorp and Pacific West Bancorp are merging in an all-stock and cash deal valued at $34.6 million. This strategic acquisition will create a combined entity with approximately $3.6 billion in assets and 31 branches across the Pacific Northwest. The merger, expected to close in Q3 2026, is anticipated to be immediately accretive to FS Bancorp’s earnings per share. Both companies’ boards have unanimously approved the transaction, pending shareholder and regulatory approvals.