FS Bancorp in Mountlake Terrace, Wash., will soon have a new bank CEO.
The $3.2 billion-asset company said in a press release that Matthew Mullet will take on the role at 1st Security Bank on Sept. 1. Mullet, who will remain president of FS Bancorp and the bank, will succeed Joe Adams, who will remain the company’s CEO.
“This succession … has been carefully planned by the board,” Ted Leech, FS Bancorp’s chairman, said in the release. “We have the utmost confidence in Matt, who has served the bank extremely well for the past 14 years and has already demonstrated the strength of his leadership skills, the depth of his knowledge of the bank’s operations, and his knowledge of the communities we serve.”
Mullet has served as president of the company and the bank since July 2024.