FS Bancorp Completes Acquisition of Pacific West Bancorp
FS Bancorp finalized its takeover of Pacific West Bancorp on Aug. 19, folding Pacific West Bank into 1st Security Bank of Washington.
FS Bancorp, Inc., the Mountlake Terrace, Washington-based parent of 1st Security Bank of Washington, announced Wednesday that it closed its acquisition of Pacific West Bancorp, an Oregon corporation, effective August 19, 2026. The deal also triggered the merger of Pacific West Bank — Pacific West Bancorp's banking subsidiary — directly into 1st Security Bank of Washington, consolidating operations under a single institution.
The completion marks the culmination of a deal the two companies had previously announced, expanding 1st Security Bank of Washington's geographic footprint deeper into the Pacific Northwest corridor. By absorbing Pacific West Bank's branch network and customer base, FS Bancorp positions itself to grow its presence in Oregon markets while leveraging existing operational infrastructure in Washington state.
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For regional banking watchers, the transaction reflects a broader trend of mid-sized community banks pursuing consolidation to achieve scale, reduce per-unit costs, and compete more effectively against larger national institutions. FS Bancorp trades on the Nasdaq under the ticker symbol FSBW, and the acquisition's financial impact is expected to be reflected in forthcoming quarterly disclosures.
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