FS Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Net income for the fourth quarter of 2014 was $1.5 million, or $0.52 per diluted share, compared to $537,000, or $0.18 per diluted share, for the fourth quarter ended December 31, 2013. Net interest income increased $1.3 million, or 25.6%, to $6.2 million for the three months ended December 31, 2014, from $4.9 million for the three months ended December 31, 2013. Total interest and dividend income was $6.9 million against $5.5 million reported last year. Income before provision for income taxes was $2 million against $0.8 million reported last year. Return on assets was 1.22% against 0.52% and return on equity was 9.46% against 3.43% reported last year. Book value per common share was $22.48 as of December 31, 2014, compared to $21.90 as of September 30, 2014, and $20.55 as of December 31, 2013.

The company reported 2014 net income of $4.5 million, or $1.52 per diluted share, compared to net income of $3.9 million, or $1.29 per diluted share, for the same period last year. For the year ended December 31, 2014, net interest income increased $2.6 million, or 13.2%, to $22.1 million compared to $19.5 million for the same period in the prior year. Total interest and dividend income was $24.8 million against $21.7 million reported last year. Return on assets was 1.00% against 1.01% and return on equity was 7.19% against 6.43% reported last year. Income before provision for income taxes was $6.5 million against $5.9 million reported last year.

For the quarter, the company also reported impairment on servicing rights of $1,000.

FS Bancorp, Inc. announced that board of directors has approved eighth quarterly cash dividend of $0.06 per share. The dividend will be paid on February 26, 2015, to shareholders of record as of February 12, 2015.