1st Security Bank Names May-Ling Sowell Chief Compliance Officer

FS Bancorp has promoted May-Ling Sowell to Chief Compliance Officer, effective July 1, 2025. Sowell, with over 30 years of banking experience, joined the bank in 2006 as a Compliance Officer. She will oversee the regulatory compliance system, security, and internal compliance training teams. Sowell holds a Certified Regulatory Compliance Manager designation and previously worked at several local community banks.

FS Bancorp (NASDAQ: FSBW), the holding company for 1st Security Bank of Washington, has announced the promotion of May-Ling Sowell to the position of Chief Compliance Officer, SVP, effective July 1, 2025. Sowell, who joined the bank as Compliance Officer in 2006, brings over three decades of banking experience and holds a Certified Regulatory Compliance Manager designation obtained in 2012.

In her new role, Sowell will lead the bank's regulatory compliance system, security, and internal compliance training teams. Prior to joining 1st Security Bank, she held similar positions at several local community banks and operated her own consulting business for two years. The promotion underscores FS Bancorp's commitment to strengthening its regulatory compliance framework and ensuring robust security measures.

1st Security Bank currently operates 27 branches across Washington and Oregon, offering loan and deposit services, with mortgage services available at all locations. The bank has demonstrated strong financial health, with an overall "GOOD" rating according to InvestingPro analysis. In the first quarter of 2025, FS Bancorp reported a net income of $8.0 million, with earnings per diluted share at $1.01. The company experienced significant growth in total deposits, which increased by $275.7 million to $2.62 billion, largely due to a rise in brokered deposits. Additionally, FS Bancorp authorized a new $5 million share repurchase program and appointed Baker Tilly as its new auditing firm following the merger of Moss Adams with Baker Tilly.

Wall Street analysts forecast an average target price of $43.50 for FS Bancorp, with a high estimate of $46.00 and a low estimate of $41.00, indicating an average target price that implies an upside of 4.77% from the current price of $41.52. The average brokerage recommendation is "Outperform," suggesting a positive outlook for the company's future performance.

References:
[1] https://www.stocktitan.net/news/FSBW/1st-security-bank-announces-the-promotion-of-may-ling-sowell-fw57rdyb6uwa.html
[2] https://za.investing.com/news/company-news/fs-bancorp-promotes-mayling-sowell-to-chief-compliance-officer-93CH-3797561
[3] https://www.investing.com/news/company-news/fs-bancorp-promotes-mayling-sowell-to-chief-compliance-officer-93CH-4144643
[4] https://www.gurufocus.com/news/2991524/fsbw-appoints-mayling-sowell-as-chief-compliance-officer-fsbw-stock-news